FINS5510 Personal Financial Planning and Client Engagement - 2024

Published on the  12 May 2024

General Course Information

Course Code :  FINS5510

Year :  2024

Term :  Term 2

Teaching Period :  T2

Course Details & Outcomes

Course Description

This course teaches a professional fnancial planning process to manage personal fnance, credit, investment and other wealth management tasks. The course consists of four sections:

First, an introduction of the fnancial planning industry, fnancial planning process and regulatory frameworks. Second, fundamental topics including the taxation, social security, home ownership and credit management. Third, specifc topics required for the construction of a comprehensive fnancial plan: tax planning, investment strategies, risk management and insurance, superannuation, and estate planning. Fourth, the course examines ethics framework and its application in the provision offnancial planning advice. The curriculum of this course adapts to professional and regulatory education requirements.

Course Aims

The aim of this course is to empower you to take control of your fnances and to develop a plan for creating and managing wealth for the rest of your life. It will involve:

  analysing your current situation and needs;

·  setting life and fnancial goals;

  developing a strategy to achieve those goals; and

·  selecting appropriate products and taking actions to implement these strategies.

The course is one of eight courses in the UNSW postgraduate program that is an Approved Degree for fnancial advisers to retail clients. As such, it also focuses on:

·  understanding human behaviour, biases and other limitations;

·  the fnancial planning process and associated communication skills;

·  understanding the nature, usage and regulations of key fnancial products; and ·  professional standards and regulations of providing personal fnancial advice.

Relationship to Other Courses

The aim of this course is to empower you to take control of your fnances and to develop a plan for creating and managing wealth for the rest of your life. It will involve:

·  analysing your current situation and needs;

·  setting life and fnancial goals;

·  developing a strategy to achieve those goals; and

·  selecting appropriate products and taking actions to implement these strategies.

The course is one of eight courses in the UNSW postgraduate program that is a FASEA Approved

Degree for fnancial advisers to retail clients. As such, it also focuses on:

  understanding human behaviour, biases and other limitations;

  the fnancial planning process and associated communication skills;

  understanding the nature, usage and regulations of key fnancial products; and   professional standards and regulations of providing personal fnancial advice.

The application offnancial theory to personal fnancial planning and the emphasis on the

provision of professional fnancial advice to clients differentiates this course from other

investment and portfolio management courses. The course involves application of the fnancial market, securities valuation and portfolio management knowledge and skills in FINS5512 and FINS5513 in the context of personal wealth management decisions. It does not focus on portfolio or trading strategies. Advanced level coverage of valuation, investment and portfolio strategies can be found in other courses offered by the School of Banking and Finance, such as in FINS5541, FINS5542, FINS5544 and FINS5566.

Course Learning Outcomes

Learning and Teaching Technologies

Moodle - Learning Management System | Zoom

Learning and Teaching in this course

The main learning resource for this course is a 3 hour lecture that will take place on campus

(subject to public health orders). Various lecture days and times are available during the week to ft in with your timetable. A high-quality recorded lecture will be available for any students who cannot attend a face-to-face lecture in any particular week. You can also ask questions about the course materials in the 'General Forums' on the course website. All assessments will be individual (no group assignments) and submitted online.

The main objective of the course content is to make personal fnance interesting, engaging and relevant for life both now and after graduation and to allow you to learn the material at a

convenient time and location. However, you are ultimately responsible for your own learning and

must engage with the lecture material, ask questions and personally refect on the material to get the most out of the course.

Assessments

Assessment Structure

Assessment Details

Quizzes

Assessment Overview

This is a series of individual online quizzes to assess whether you have understood and can apply key concepts from each Unit of the course.

Assesses: PLO1, PLO2, PLO5, PLO6

Course Learning Outcomes

  CLO1 : Identify, evaluate, analyse, communicate, and negotiate client resources, fnancial  goals, budget, risk perceptions, investment, insurance and other fnancial planning needs.

  CLO2 : Explain the basic operation of the Australian taxation and social security system and suggest effective strategies for fnancial planning.

  CLO3 : Apply knowledge in behavioural sciences and fnance to explain, recommend and evaluate home ownership, investment strategies given client objectives, risk profle, constraints and biases.

  CLO4 : Explain, analyse, and recommend appropriate  retirement planning strategies including the use of superannuation funds, self-managed superannuation funds, home ownership and    and insurance products.

·  CLO5 : Construct, analyse, implement and review a complying personal fnancial plan.

  CLO6 : Explain and apply ethical principles, professional standards and regulation in providing personal fnancial advice.

Detailed Assessment Description

Weight     Assessment Name               Assessment Due Date / Timing

2%        Unit 1 Quiz                        1pm Monday of Week 2

2%        Unit 2 Quiz                        1pm Monday of Week 3

2%        Unit 3 Quiz                        1pm Monday of Week 4

2%        Unit 4 Quiz                       1pm Monday of Week 5

2%        Unit 5 Quiz                        1pm Monday of Week 6

2%        Unit 6 Quiz                        1pm Monday of Week 7

2%        Unit 7 Quiz                        1pm Monday of Week 8

2%        Unit 8 Quiz                        1pm Monday of Week 9   

2%        Unit 9 Quiz                        1pm Monday of Week 10

2%        Unit 10 Quiz                      1pm Monday of Week 11 

You should carefully read the detailed 'Online Quizzes Instructions' document on the course website.

The purpose of this assessment is to give you regular feedback on whether you are achieving the learning outcomes for each Unit and to help you stay up-to-date with your learning. It includes a    series of quizzes on the course website. There is one quiz for each Unit of the course. Each quiz  can only be attempted once. Your lowest two quiz results will not be included in your fnal grade   for this assessment, so there will be no special consideration granted for any quizzes that you miss or for late enrolment in the course. Each quiz contains 10 questions. Most questions are  multiple-choice style but there are also a few calculation questions. The links for each quiz will be available on the course website under ‘Online Quizzes’ between the allocated start and end  dates. You will have 2 hours to complete each quiz from the time you frst open it. The quizzes should be performed individually without assistance from others.