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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Advanced

Pre-requisites

ACC00132 Taxation AND FINXXXXX Superannuation and Retirement Planning AND FINXXXXX Insurance and Estate Planning

Unit aim

Introduces students to the financial plan including an overview of the financial advice industry and contemporary issues, the professional, legal and regulatory environment, client relationship building and best interests duty, client risk profiling, needs and objectives, the statement of advice (SOA), and key elements of the financial plan. In this capstone unit, students will develop professional skills by engaging in teacher directed activities and experiences relevant to the responsible construction and delivery of a comprehensive financial plan. Students will also develop a practical understanding of the critical aspects of the financial adviser-client relationship.

 

Unit content

Topic 1: The Financial Plan: An Introduction

Topic 2: Contemporary Issues in the Australian Financial Advice Industry

Topic 3: The Professional, Legal and Regulatory Environment

Topic 4: The Client-Adviser Relationship and Best Interests Duty I

Topic 5: The Client-Adviser Relationship and Best Interests Duty II

Topic 6: Client Data and Risk Profiling

Topic 7: Client Needs and Objectives

Topic 8: The Statement of Advice (SOA)

Topic 9: Financial Plan Development

Topic 10: Financial Plan Recommendations

Topic 11: Financial Plan Implementation and Presentation

Topic 12: Financial Plan Review and Monitoring

 

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 Apply the financial advice process meeting legal and ethical requirements.
2 Communicate with clients effectively to obtain personal information.
3 Construct a compliant comprehensive Statement of Advice (SOA).
4 Present the Statement of Advice (SOA).
5 Evaluate and implement client relationship building through the ongoing review planning process.
6 Develop file construction and retention techniques.
7 Deliver advice in line with Best Interest Duty requirements.

On completion of this unit, students should be able to:

  1. Apply the financial advice process meeting legal and ethical requirements.
    • GA2:
    • GA3:
    • GA6:
  2. Communicate with clients effectively to obtain personal information.
    • GA2:
    • GA3:
    • GA6:
  3. Construct a compliant comprehensive Statement of Advice (SOA).
    • GA2:
    • GA3:
    • GA6:
  4. Present the Statement of Advice (SOA).
    • GA2:
    • GA3:
    • GA6:
  5. Evaluate and implement client relationship building through the ongoing review planning process.
    • GA2:
    • GA3:
    • GA6:
  6. Develop file construction and retention techniques.
    • GA2:
    • GA3:
    • GA6:
  7. Deliver advice in line with Best Interest Duty requirements.
    • GA2:
    • GA3:
    • GA6: