Learning/Assessment Task 2

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Faculty of Business
C o u r s e
S e s s i o n
Course Title:
3
2 0 0 6
Financial Plan Development,
Consulting and Negotiation
Course Code:
FIN711
Field of Education:
081199
Required course in program:
O u t l i n e
MFinPlan – yes
Contact hours per week:
Recommended study time 10 – 12 hours
Admission requirements:
FIN720 Financial & Investment Planning,
and either FIN712 Taxation Planning & Estate
Planning, or FIN710 Superannuation & Retirement
Planning.
Mode:
Online
Units:
12 credit points
Enrolment restrictions:
Students enrolled in MFinPlan program
(and all subsidiary programs)
Course Coordinator:
Room:
Phone:
Email:
Course Moderator:
Room:
Phone:
Email:
Gennie Wilson
K1.06
0402 216 806
[email protected]
Dr John Teale
K2.43
+61 7 5459 4705
[email protected]
i
Contents
Welcome and key contacts ..................................................................................... 1
Blackboard access ........................................................................................................ 2
Contact details .............................................................................................................. 2
Other contact issues ..................................................................................................... 2
Course information .................................................................................................. 3
Description.................................................................................................................... 3
Overview....................................................................................................................... 3
Prior knowledge ............................................................................................................ 4
Acknowledgment .......................................................................................................... 4
Graduate attributes, learning objectives and assessment tasks .................................... 5
Learning/Assessment details ........................................................................................ 6
Conditions for passing the course ................................................................................. 6
Course schedule ........................................................................................................... 7
How to use these modules ............................................................................................ 8
Prescribed texts ............................................................................................................ 8
Study materials and readings........................................................................................ 8
Major reference works .................................................................................................. 8
PDF files ....................................................................................................................... 8
WWW sites ................................................................................................................... 8
Assessment and other details ................................................................................ 9
Learning/Assessment Task 1 ........................................................................................ 9
Assessment Task 1 marking criteria ........................................................................... 11
Learning/Assessment Task 2 ...................................................................................... 12
Assessment Task 2 marking criteria ........................................................................... 13
Expected standards .................................................................................................... 14
Learning/Assessment Task 3 ...................................................................................... 15
Assessment Task 3 marking criteria ........................................................................... 16
Assessment submission instructions........................................................................... 17
Assessment conditions ......................................................................................... 19
Non-discriminatory language ...................................................................................... 19
Assignment submission and collection ........................................................................ 19
Plagiarism and copied papers ..................................................................................... 20
Variations to assessment ............................................................................................ 20
Session 3, 2006 – Planner ..................................................................................... 22
First Published: Session 3, 2001. This edition: Session 3, 2006. Revised and updated by Gennie Wilson.
Published by the Graduate Studies Program, Faculty of Business, University of the Sunshine Coast, Maroochydore DC,
Qld, 4558
Copyright, University of the Sunshine Coast
Copyright protects this publication. Except for purposes permitted by the Copyright Act 1968 (Cwlth) reproduction by
any process is prohibited without the prior written permission of University of the Sunshine Coast. Initial inquiries are to
be made to the Director Graduate Studies, Faculty of Business. Copyrighted materials reproduced herein are used
either under the provisions of the Copyright Act as amended, under agreement with Copyright Agency Limited, or as a
result of permission from the copyright owner.
We acknowledge, with thanks, those people who contributed of their time and knowledge to the development of this
course.
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 1
Welcome and key contacts
A warm welcome to all FIN711 students from
Gennie Wilson.
I have worked in the field of financial planning for
more than 11 years in various roles including
financial adviser, risk specialist, senior paraplanner
and compliance manager.
Gennie Wilson
Course Coordinator
Room: K1.06
Telephone: +61 7 5430 2892
Email: [email protected]
After completing my Masters in Financial Planning
and being granted my CFP designation, I started
lecturing at the University of the Sunshine Coast in
both undergraduate and postgraduate financial
planning programs.
As course coordinator, I am responsible for the
planning and coordination of the course, and for
ensuring its appropriate assessment. My role
involves course development and delivery and
generally includes overall responsibility for course
content, managing student matters and arranging
for the use of resources.
Welcome to Financial Plan Development,
Consulting and Negotiation from John Teale.
I have worked in the financial services industry for
over 39 years holding positions in sales, sales
management and at senior executive level. As a
senior executive I undertook reinsurance
assignments in both the United Kingdom and in
Holland.
I set up my own financial services company in 1985
specialising in general insurance broking, life risk
insurance and financial planning. Since the sale of
this business I lecture and research in the areas of
insurance and financial planning.
Dr John Teale
Course Moderator
Room: K2.43
Telephone: +61 7 5459 4705
Email: [email protected]
Graduate Studies Program
I am a member of the Financial Planning
Association, an associate of the Australian and New
Zealand Institute of Insurance and Finance and a
Certified Insurance Professional.
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 2
Blackboard access
The coursework in Blackboard can be accessed at: http://my.usc.edu.au/online – this link
will take you to the Web Systems Login page.
When you arrive at the Web Systems Login page, information on using Blackboard
(without actually going to Blackboard) can be found by clicking on the link Getting
Online with Blackboard and then the link Using Blackboard.
Contact details
Issue type
Contact details
IT Service Desk: If you have questions about your password
or browser configuration or other login issues please contact
the IT service desk.
[email protected]
MBA Help Desk: If you have any questions about
Blackboard or the technical aspects of your studies please
contact the MBA Help Desk.
[email protected]
Library & bibliographic help: Library Information Desk.
[email protected]
Tel: +61 7 5430 1237
Tel: +61 7 5430 1131
Fax: +61 7 5430 2855
Tel: + 61 7 5430 2803
Learning support: Current educational best practice is
based on self-directed learning on the student's part. If you
have trouble with fulfilling this requirement then please
contact Margot Reeh, who is the University’s Learning
Support Officer.
[email protected]
SOLAR (Student Online Access and Registration).
[email protected]
General issues: Coordinator, Graduate Studies.
Tel: +61 7 5459 4742
Fax: +61 7 5430 1231
Other contact issues
You are encouraged to form study groups with your classmates, or if you
prefer to find a "study buddy" please do so. You can do this by introducing
yourself via Blackboard. Go to 'Communications' in the course menu on the
left-hand side of the screen. Click on 'Discussion Boards' and you will find a
discussion forum called 'ICafe' set up. Tell your classmates something about
yourself and where you live and ask if there is anyone else living close to you
who would like to form a study group.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 3
Course information
Description
This course is designed to help you apply your accumulated knowledge of financial
planning, taxation, superannuation, retirement planning, estate planning, insurance,
risk management and investments in the development and preparation of a
comprehensive and compliant financial plan (or Statement of Advice, as it is now
known) that is informative and useful in identifying and addressing the needs of a
client. All the modules studied in this course are directed to the task of completing a
Statement of Advice (SoA) in a manner that meets the goals and expectations of the
client, the requirements of the financial services regulator, professional expectations
and the expected standards of this course. Also covered are the essential consultation
and negotiation skills for effective client communication.
Overview
This course is organised into a number of modules. The first two modules explore the
legal, ethical and professional responsibilities of SoA construction and data collection
issues as well as the need to know the client and to know the financial product. Module
2 specifically examines collecting client data and identifying client goals and objectives.
This module also includes a sample ‘letter of engagement’ form supplied by Tandem
Financial Advice Limited. The first Assessment Task is largely based on these modules
and requires you to complete a Data Collection form and to demonstrate a thorough
understanding of the legal, ethical and professional responsibilities of compiling an SoA
by preparing a Guide for new Authorised Representatives.
Module 3 goes on to analyse strategy development in general and consider different
strategies for particular client needs. The fourth module examines the structural and
essential elements of a Statement of Advice (SoA) and reviews the need to provide a
Statement of Additional Advice (SoAA) or a Record of Advice (RoA). Module 5
investigates the process of implementing and reviewing the Statement of Advice and
the final module examines basic consultation and negotiation skills for effective client
communication.
It is expected that the suggested references as well as your own research is carried out
to ensure that responses to Assessment Task questions have been fully considered.
The major task of this course is to prepare and to present a Statement of Advice (SoA)
for fictitious clients based on case study information that will be provided. The SoA
must address the needs of the client, as it is a plan for the client and the client must
understand it. The SoA should therefore address both the needs of the client and
incorporate the ethical, professional and legal requirements and responsibilities of the
adviser.
Focusing on the client will help protect the adviser from future legal and professional
problems. It is not only vital to focus on client needs, it is imperative to ensure that the
SoA and supporting documentation supports the fact that the focus on client needs
have been paramount. As a result, knowing the client’s needs and having them
understand the recommendations are essential components of this task.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 4
The following diagram will help you to visualise how the modules interact with each
other and with your main task for this course.
Task 1:
Complete Data
Collect & Prepare
Guide
Module 2:
Data gathering
Module 3:
Strategy
development
Task 2 & 3:
Prepare an SoA &
Oral Presentation
Module 1:
Legal, ethical &
professional
requirements
Module 6:
Communication,
Consultation &
Negotiation
Module 4:
Elements of an
SoA
Module 5:
Implementing &
reviewing an
SoA
Prior knowledge
This course presumes knowledge of the financial planning process, taxation,
investments, insurance, superannuation, retirement planning and estate planning.
Before attempting this course you should have completed the following courses or
equivalent courses:

FIN720 Financial and Investment Planning
and at least either one of the following two courses:

FIN712 Taxation Planning and Estate Planning or

FIN710 Superannuation and Retirement Planning.
The completion of these courses will provide sufficient knowledge to complete a
Statement of Advice. FIN721, Risk Management and Insurance Planning, is also
useful, although risk management and insurance is included as a module in FIN720.
Acknowledgment
Our appreciation is given to the Financial Planning Association of Australia Ltd for their
kind permission to use the Code of Ethics as part of our course material.
Our thanks is also given to Tandem Financial Advice Limited for allowing the use of
their Confidential Questionnaire and Letter of Engagement in our course material.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 5
Graduate attributes, learning objectives and
assessment tasks
The Faculty of Business strives to enable its Masters coursework graduates to acquire
the following attributes:
MBA/MIntBus/MFinPlan
Graduate Attributes
To think

analyse and evaluate
business practices using
relevant theories and
frameworks

develop and justify
arguments using relevant
information from academic
and industry-based sources

Learning Objectives
On completion of this course
students should be able to:
1.
Apply the legal,
professional and ethical
responsibilities of the
adviser in relation to
ascertaining client’s
needs and addressing
these needs in a
statement of advice.
1.
Assessment Task 1
(completion of a data
collect & the preparation
of a guide) &
Assessment Task 2
(preparation and
completion of a Statement
of Advice).
2.
Apply the steps in the
financial planning process
in a systematic manner to
the preparation of
statements of advice.
2.
Assessment Task 1,
Assessment Task 2 &
Assessment Task 3
(presentation of a
Statement of Advice).
3.
Recognise the need to
review recommendations
regularly as client needs
and conditions change.
3.
Assessment Task 1 &
Assessment Task 2.
4.
Develop skills and
procedures that will
enable explanation of
statements of advice to
clients.
4.
Assessment Task 2 &
Assessment Task 3.
5.
Prepare and submit a
comprehensive statement
of advice that is focussed
on client needs and is in
line with ethical,
professional and legal
expectations and
requirements.
5.
Assessment Task 1 &
Assessment Task 2.
take a strategic view of
organisations and their
position in the economy
To communicate

communicate effectively in a
variety of media

use information and
communication technologies
effectively
To initiate

apply and extend existing
knowledge and frameworks

identify opportunities and
create new solutions

demonstrate creativity,
innovativeness and
entrepreneurial skills
To learn

to be self-aware,
independent learners

to be able to collect,
organise analyse, evaluate
and use information in a
range of contexts
Graduate Studies Program
Assessment Tasks
6.
Locate and collect
appropriate data to enable
preparation of a statement
of advice.
6.
Assessment Task 1&
Assessment Task 2.
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 6
Learning/Assessment details
Learning/Assessment Tasks
Due Date
Length
1.
Friday 24
November
2006
Part A – Complete
data collection
form
Assessment Task 1:
a) Part A – Completion of a data
collection form.
Assessment Task 2:
Preparation and submission of a
comprehensive Statement of Advice.
3.
Assessment Task 3:
Oral presentation of Statement of
Advice.
20
Part B – 2,000
words (quotes not
included in word
count)
b) Part B - Preparation of a Guide for
new Authorised Representatives.
2.
Weight
%
Friday 26
January
2007
No longer than 50
pages (excluding
Appendices)
70
Friday 02
February
2007
20 – 30 minutes
10
TOTAL
100
As part of the Blackboard submission process, you are required to make an
Assessment Task Declaration and you will not be able to submit any piece of
assessment without first making an Assessment Task Declaration.
The course coordinator may decide to check for plagiarism on a particular piece
of assessment. This will be an automatic process involved in the Assessment
Task submission to Blackboard.
Conditions for passing the course
To achieve a pass in this course, students must:

achieve at least a pass level in Assessment Task 2

achieve at least a pass level overall

complete all items of assessment

perform satisfactorily in all items of assessment.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 7
Course schedule
The details of the week-by-week timetable of course activities, e.g. lectures, tutorials.
Teaching Week
Content Focus of Week
Learning/Teaching Activities
Commencing
1.
23 October 06
2.
30 October 06
3.
6 November 06
4.
13 November 06
5.
20 November 06
6.
27 November 06
7.
4 December 06
8.
11 December 06
9.
Module 1: Professional, legal and
ethical requirements and data
collection
Module 2: Collecting data and
identifying goals and objectives
Assessment Task 1 due
Friday 24 November 2006
Module 3: Strategy Development



Wealth creation plan
Pre-retirement plan
Post retirement plan
Module 4: Elements of an SoA:

Structural elements

Essential elements
18 December 06
25 December 06 to
7 January 07
Mid-session two-week break
10.
8 January 07
Module 5: Implementing and
Reviewing the SoA
11.
15 January 07
Module 6: Communication,
Consultation and Negotiation
12.
22 January 07
Assessment Task 2 due
Friday 26 January 2007
13.
29 January 07
Assessment Task 3 due
Friday 2 February 2007
14.
5 February 07
Session 3 2006 ends 11 February 2007. Session 1 2007 commences 26 February.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 8
How to use these modules
The coursework for each module should be studied with the aim of completing the
assessment items on or before the due date. The weeks and the dates have been
included in this course outline so that you are reminded of how quickly a session
passes.
Prescribed texts
Shirlow, D (ed.) 2006, Australian Master Financial Planning Guide, 9th edn, 2006/07,
CCH Australia Limited, Sydney.
All students are required to purchase the following book during their enrolment in the
program to assist them in their study:
Summers, J & Smith, B 2005, Communication Skills Handbook, 2nd edn, John Wiley &
Sons, Milton, Queensland (an earlier edition is acceptable if you have already
purchased this text).
Study materials and readings
To assist you with your study you should have:

A course outline

A set of course work notes
Major reference works
Students are encouraged to refer to other texts on Financial Plan Development,
Strategy Development, Communication and Consulting and Negotiation. Most texts by
the major publishers are useful. Students should consult a variety of such texts to gain
an overview of the different approaches.
PDF files
There are various PDF files in the Resources area within Blackboard.

Relevant information and articles will be put into the resources area in Blackboard
during the course. Announcements will be made in Blackboard when this occurs.
WWW sites
The following websites contain material that is relevant. You will not be able to
complete Assessment Task 1 or complete the technical expectations in Assessment
Task 2, unless you visit these sites:
Australian Securities and Investment Commission www.asic.gov.au
Financial Planning Association of Australia Ltd www.fpa.asn.au
Corporations Act 2001 www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 9
Assessment and other details
Learning/Assessment Task 1
Format
Data collection and the professional and legal responsibilities of
constructing a Statement of Advice
Due date
Friday 24 November 2006
Your completion of the Data Collect (Part A of Assessment Task 1) will be
used to ensure that you are on track to completing the Statement of
Advice required in Assessment Task 2. It is therefore essential that you
submit your Assessment Task 1 on time.
Late submission of Assessment Task 1 will delay the feedback that may
assist with Assessment Task 2.
Weighting
5% for Part A and 15% for Part B
Length
Part A requires you to complete a client questionnaire (data collect) and
risk profiling exercise in order to meet the Corporations Act requirements
of knowing your client.
Part B requires you to prepare a Guide for new Authorised
Representatives and should be 2,000 words in length (quotes not included
in word count).
Penalties
Late assignments will be penalised at 20% of the assigned mark per
working day late (including assignments submitted after 4.30pm on the
stated due date).
Incomplete cover sheets and poor presentation of the assignment will
incur deductions.
Task Part A
The information required to complete this task is based on the
Assessment Task 2 case study which will be made available to you.
In Assessment Task 2, you are provided with personal and financial
details of Vincent and Connie Chancellor. A data collection exercise has
not been completed for these clients and this is an important first step
when preparing any Statement of Advice.
Your task is to complete the data collection form (including a risk profiling
exercise), as a precursor to completing Assessment Task 2 – The
Statement of Advice.
Review the case study scenario for Assessment Task 2. You will find this
scenario under the Resource area in Blackboard.
1.
Complete a Personal Financial Profile for the client using the
proforma data collection form supplied in the Resource area of
Blackboard. (in the Datacol.pdf file)
Once this has been completed, the information in the data collect form will
be used to ensure that you are on the right track with your strategy for
Assessment Task 2.
Submission of the fully completed data collect form must accurately reflect
your details (as the adviser) and the client’s situation and risk profile.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Task Part B
Page 10
This task requires you to produce a Guide for new Authorised
Representatives that explains, in your own words, when and why a
Statement of Advice (SoA) is to be provided and what information must be
included in an SoA. In preparation of this Guide you will need to:

include a brief introduction

use sub headings

use bullet-point format to summarise the legal obligations

follow each point or list of points with a clear explanation

include relevant references to Acts and regulations and

include a bibliography to the standard in Summers & Smith (2006)
The Guide is to be purpose written for the select audience of new
Authorised Representatives. Your Guide should be a reference tool,
which presents systematic access to concise factual information and
enables new Authorised Representatives quick and easy reference to the
different Acts and regulations. Your Guide should be comprehensive yet
simple to understand. It should provide clear explanation of the
individuals’ obligations under the Corporations Act 2001 (CA) and be of
practical assistance for the preparation of SoAs.
The aim of this Assessment Task is to make you aware of the legal,
ethical and professional requirements of preparing a financial plan (SoA)
before you attempt the preparation of an SoA for Assessment Task 2.
In order to produce an effective guide, you will need to consider the FPA
Code of Ethics, the FPA Rules of Professional Conduct, industry ‘best
practice’ standards and the ASIC policy statements. In particular you
should refer to Chapter 7 of the Corporations Act 2001, ASIC Policy
Statements 175, 168, 181, 182 and ASIC Publications and Media
Releases concerning SoAs and Adviser’s conduct and disclosure
obligations.
Other
information
Part A
The purpose of part A is to make you read the Assessment Task 2
scenario and complete the data collection before attempting to prepare
the SoA.
Part B
Module 1 of the coursework provides a number of references to various
websites where you will find information that will assist you with the
preparation of the guide.
Submission
Please submit hard copies of Part A & B of this Assessment Task as well
as an electronic copy of Part B through Blackboard. See Assessment
Submission Instructions (How to submit your learning/assessment tasks
to Blackboard) in the Course Outline and Assessment areas of this
Blackboard course.
Part A – Hard copy only – complete in neat, legible handwriting
Part B – Typed hard copy using Arial 11 or TNR 12 with 1.5 line spacing.
You are responsible to retain an electronic copy of your guide and a
photocopy of your data collect form as a backup and ensure that you
maintain a backup of your electronic files, in case your assessment piece
is misplaced or your computer fails.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 11
Assessment Task 1 marking criteria
Content
Possible Mark
Part A:
Clear concise information is required which demonstrates that you
understand the clients’ situation and goals and can realistically apply
strategies that meet these goals. Accuracy and attention to detail in
completing the data collection form is also required.
5%
Part B:
You will be rewarded for the inclusion of appropriate referencing and for
concise and clear explanations that demonstrate that the objective of
understanding the legal, ethical and professional responsibilities of
compiling an SoA has been fully comprehended.
TOTAL
Graduate Studies Program
15%
20%
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 12
Learning/Assessment Task 2
Format
Preparation and submission of a Statement of Advice.
Due date
Friday 26 January 2007
Weighting
70%
Length
The completed Statement of Advice must be no longer than 50 pages in
length (excluding Cover sheet, Contents page, Covering Letter,
Assumption page and Appendices).
Penalties
Late assignments will be penalised at 20% of the assigned mark per
working day late (including assignments submitted after 4.30pm on the
stated due date).
Incomplete cover sheets and poor presentation of the Statement of Advice
will incur deductions.
Task
The case study scenario which can be found in the Resource area within
Blackboard provides information about you, as the financial adviser, your
Licensee and your clients, Vincent and Connie Chancellor. This
information will be used in completing a Statement of Advice for these
clients.
As the adviser assigned to these clients, you will be required to analyse
the client data, to develop effective strategies, to select appropriate
products and to prepare a comprehensive and compliant SoA for the
client’s consideration.
All of your recommendations must be specific and relevant to the client
scenario. The Statement of Advice must meet the client’s needs and
objectives as well as all professional and regulatory requirements.
You will be allowed to make valid assumptions, with regards to areas not
disclosed in the scenario provided; however, these assumptions must be
disclosed on a separate sheet attached to the Statement of Advice.
Expected
Standards
Students are not to rely solely on SoA templates provided by their
Licensees or the ASIC’s Example SoA as these may not satisfy the
requirements for a comprehensive Statement of Advice.
You are required to prepare a comprehensive SoA, not a commercial
SoA. You must clearly demonstrate your capacity to develop a sound
SoA, which is supported by both technical and professional skills.
Your SoA should not contain unnecessary generic material provided by an
AFSL holder; all information included in the SoA must be specific to the
client scenario.
The SoA must also meet the expected standards outlined on page 14.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Submission
Page 13
A hardcopy of your Statement of Advice must be posted to:
Jennifer French
Administration Assistant
Graduate Business Studies
Faculty of Business
University of the Sunshine Coast
Maroochydore DC Qld 4558.
Your Statement of Advice should arrive at the University prior to the due
date. A hard copy is required as the format and appearance of the SoA is
important. It is a document that is presented to a client. Receiving a hard
copy reduces the risk of missing pages or formatting errors that may occur
with electronic delivery. If you have difficulties in complying with this
request because of locality or other reasons please contact the course
coordinator.
You must also submit a copy of your Statement of Advice via Blackboard
– see Assessment Submission details.
It is your responsibility to retain an electronic copy of your SoA as a
backup and ensure that you maintain a backup of your electronic files, in
case your assessment piece is misplaced or your computer fails.
Results in
Blackboard
Results for the final assessments for this course will not be posted in
Blackboard.
Assessment Task 2 marking criteria
Content
Possible Mark
You are to submit a comprehensive and compliant SoA accurately
reflecting the client’s information and risks and effectively communicating
and justifying appropriate strategies and product recommendations.
General marking criteria:

Clear, concise and effective writing

Language suited to client understanding

Attention to all key elements

Accurate use of terminology

Accuracy of calculations

Appropriate use of tables and diagrams

Quality of presentation

Logical structure

Appropriate solutions and advice that meets clients goals & needs

Relevance and attention to specific case study

Depth of analysis

Meets compliance obligations

Meets expected standards (listed on next page)
70%
TOTAL
Graduate Studies Program
70%
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 14
Expected standards
You must:

submit a comprehensive and compliant SoA for the client to consider

ensure the SoA is no longer than 50 pages in length (excluding appendices)

include table of contents (number all pages consecutively, including appendices)

meet the requirements of PS175 and include disclosures and disclaimers and a formal
scope of advice section in the body of the SoA

prepare a compliant covering letter and an executive summary of no longer than two pages
in length (these items will not count towards your page limit)

present the information in a logical way to facilitate the client’s understanding

explain risk tolerance & asset allocation and the impact of your recommendations on future
cash flows

discuss the client’s ability to achieve their goals / objectives and clearly show how your
recommendations achieve each of your client’s objectives

ensure your recommendations are specific and relevant to the case study and are
supported by relevant explanations

include detailed calculations in the appendices, but also summarised within the body of the
SoA

use specific products in your recommendations, outline the characteristics of the
investments and provide sound reasoning on why the products are appropriate

provide a detailed list of the next steps required to implement the plan

make assumptions with regard to areas not disclosed in the scenario; however, these
assumptions must be reasonable and disclosed in the SoA

all appendices must be relevant to the client’s situation, clearly labelled and must be crossreferenced in sections of the SoA

remember that clear and concise writing will be rewarded and penalties apply for
exceeding the Assessment Task length.

use either Times New Roman 12 pt or Arial 11 pt with single line spacing

if parts of your strategy require referral to external professionals, you are expected to
include the strategic advice on the recommended structure in the SoA body

the SoA should make reference to everything that you would normally provide to a client;
however, do not include product advertising material, prospectuses, PDSs or fund research
profiles. Do not append product brochures – a list of such items (where necessary) will
suffice.

standardised reports generated by financial planning software are not acceptable. You
must develop the strategies yourself (without the aid of a para planner). However, you may
use commercial software such as Excel to assist you in performing any calculations to
support your recommendations

if it is suspected that any student has generated their plan by using financial planning
software they will be required to submit the template of the planning software used in their
practice for comparison

the penalty for preparing the report by using financial planning software, or failing to submit
the template as mentioned above, or using the services of a para planner to prepare the
strategy or SoA will be a ‘fail’ grade

any comments made in regards to this assignment within the body of the course notes
must also be complied with.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 15
Learning/Assessment Task 3
Format
Presentation of your SoA. Oral presentation is an important part of the
financial planning process. Students are required to identify a suitable
person (friend, relative or colleague) to take on the client role and then to
present part of the SoA to them during a formal interview. The
presentation is to be audio-visually recorded on a DVD, CD or VHS video
tape and submitted for assessment.
Due date
Friday 02 February 2007
Weighting
10%
Length
The interview should take between 20 – 30 minutes
Penalties
Late assignments will be penalised at 20% of the assigned mark per
working day late (including assignments submitted after 4.30pm on the
stated due date).
Task
This task requires you to present part of your SoA to a friend, relative or
colleague in a face to face client / adviser interview. You, as the adviser,
will be assessed on your communication skills; whereas, the validity,
appropriateness and technical accuracy of the strategy will not be
assessed during the presentation. You are required to present only the
executive summary and strategy to the ‘client’.
The aim of this Assessment Task is to assess your ability to both
communicate the strategies contained in the SoA in a clear, concise and
effective manner and to comply with industry regulations and codes of
practice.
Assumptions for Oral Presentation:
Assume that you normally take approximately 1 hour to present a
comprehensive SoA to clients with the first half of the interview time being
allocated to greeting the clients, meeting formal requirements and
presenting the executive summary and strategy as detailed in the SoA.
Also your Licensee has produced a new FSG since you last met with your
clients and your Adviser Profile has been updated recently to include your
new qualification.
Submission
A hardcopy of your DVD, CD or Video tape must be posted to:
Jennifer French
Administration Assistant
Graduate Business Studies
Faculty of Business
University of the Sunshine Coast
Maroochydore DC Qld 4558.
Your DVD, CD or Video tape should be sent to the University in a padded
envelope and must arrive prior to the due date.
Please start your recording at the beginning of the tape and check your
presentation before submitting to ensure there are no faults.
It is your responsibility to retain a copy of your Oral Presentation in case
your assessment piece is misplaced.
Results in
Blackboard
Results for the final assessments for this course will not be posted in
Blackboard.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 16
Assessment Task 3 marking criteria
Content
Possible Mark
You will be rewarded for:

Communicating in clear and concise language that is easily
understood by the client

Using articulation that is not too fast or too slow

Meeting and greeting the client in a professional manner

Using appropriate communication skills

Discussing key points and rationale of strategy

Explaining associated risks and technical terminology / jargon

Using questions to monitor client understanding

Managing time effectively and keeping within the time limit
10%
TOTAL
Graduate Studies Program
10%
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 17
Assessment submission instructions
Please submit assessment tasks electronically through Blackboard.
NOTE: It is very important that you do not use the Back button when
preparing your submission.
Step 1
Prepare your assessment task file to be submitted to Blackboard, as a
single Microsoft Word (.doc) document. The Assignment Cover Sheet
is no longer required.
Make sure you name your file as detailed below. Include your name, USC
student ID number, postal address and assessment details in the headers
and footers of your assessment task document.
Step 2
Please make sure your assessment task file is named like this:
LastName_FirstName_USCStudentID_TaskX_COURSEID.doc
ie. if your name is Bill Gates and you are doing Task 3 for Managing
Organisational Behaviour, you would name your file:
Gates_Bill_1011223_Task3_MGT701.doc
Note: There must not be any spaces between words in the file name. Use an
underscore (Shift Hyphen) between words. If you name your files in this manner
you should not encounter any problems uploading them to Blackboard.
Step 3
Ensure the document page size of your completed assessment task
is A4.
To change the page size to A4:

click on File > Page Setup

click on the Paper Size tab

scroll through the paper sizes and choose A4 (210 x 297mm).
Change the page size to A4 when you are first creating your assessment task
document. Changing the page size after you have finished your assessment task
will affect the page text areas which could cause unwanted page breaks which you
will need to adjust.
Step 4
Open the Assessment area in Blackboard by clicking Assessment in the
left hand navigation menu of the Blackboard course.
Step 5
Click on Assessment overview link in the right hand side content panel.
Step 6
Click on Learning/Assessment Task X.
Step 7
Scroll down and review the Assessment Task Declaration.
You need to accept this declaration before you can proceed to the
Assessment Task submission area that will appear directly below the
declaration panel.
Step 8
Click on the >>View/Complete link at the bottom of the Submit
Assessment Task X area to open the Upload Assignment: Submit
Learning/Assessment Task X area.
Step 9
Add a comment to your Course Coordinator while you are in the Upload
Assignment: Submit Learning/Assessment Task X area.
Step 10
Browse your computer to find and attach your single document – the
assessment task only.
Step 11
Only when you have attached the document you wish to upload, click
Submit.
Step 12
You should receive the message: “The assignment has been successfully
updated”.
Step 13
Click OK.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Checking your
submission
Page 18
You can check that you have submitted the assessment task by doing one
of two things:

click >> View/Complete and see if the message “You’ve already
completed this assignment, click on review your results” comes up.
OR

Unsuccessful
submission
click on the Tools page in the Course menu and open View Grades to
see if the assessment task has been logged in (and marked yet).
If your submission has been unsuccessful, please contact
[email protected]
The MBA Helpdesk will clear your submission attempt and will send you
an email requesting you to resubmit your assessment task through
Blackboard.
Final
assessment
grades
It is at the discretion of the Course Coordinator to display the grades for
the final assessment task.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 19
Assessment conditions
Non-discriminatory language
Students are expected to use non-discriminatory language in all social and academic
contexts of our socially diverse university located in the multi-cultural community of the
Sunshine Coast of Queensland, Australia. Additionally our online courses reach
students throughout the world living in diverse cultural circumstances. Please ensure
that all assessments use non-discriminatory language such that oral, written and visual
presentations do not devalue, demean or exclude individuals or groups on the basis of
the following attributes: gender, disability, culture, race, religion, sexual preference or
age.
Assignment submission and collection
All assessment tasks are due by the time and date indicated in the Assessment
Schedule previously listed in this course outline. Students submitting assessment
tasks after the due date without extenuating circumstances may incur a penalty up to a
maximum of 20% of the assigned mark for each working day late. Applying this penalty
is solely at the discretion of the Course Coordinator or co-teacher.
Students are to prepare their assessment task file to be submitted to Blackboard, as a
single document. The Assignment Cover Sheet is no longer required. Students must
make sure they name their file as per the Submission instructions detailed before.
Students also need to include their name, USC student ID number, postal address and
assessment details in the headers and footers of their assessment task document.
As part of the Blackboard submission process, you are required to make an
Assessment Task Declaration and you will not be able to submit any piece of
assessment without first making an Assessment Task Declaration.
For students using Blackboard, assessment tasks are to be submitted to the course
coordinator or co-teacher via the Blackboard learning management system on or
before the due date specified in the Assessment Schedule by:
1. Using the view/complete link found with each assessment piece within Blackboard.
OR
2. As directed by your course coordinator or co-teacher.
Do not attempt to submit your assessment task in any other manner, as it will not be
accepted.
Students must retain a copy of all pieces of assessment, which must be
produced if requested by the course coordinator.
Assessments tasks will normally be returned no later than three (3) weeks after the due
date. Normally they will be returned through the Blackboard learning management
system. However, if the course coordinator has made other arrangements the
assessment tasks may be posted to you. Therefore, please ensure that your current
postal address is in the Assessment Task document.
For quality assurance purposes the faculty may make copies of selected assessment tasks.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 20
Plagiarism and copied papers
Plagiarism and copied papers are serious offences against professional standards.
Papers rejected on these grounds may receive a zero mark without any opportunity to
resubmit them. Students who copy each other’s papers are engaged in a form of
cheating and the original, as well as all copies, of the paper may be awarded a mark of
zero.
The following definition of plagiarism is taken from the Student Conduct and Discipline
Statute:
… a person plagiarises the work of another if that person presents the
thoughts or words of the other as being his or her own, and the word for
word reproduction of a written passage of more than insignificant length, or
the paraphrasing of such a passage, is evidence of plagiarism unless the
source of the material is acknowledged in the work.
Please carefully read the Student Conduct and Discipline Statute section within the
Student Policies and Rules of the Student Handbook, a copy of which can be accessed on
the university website at:
http://www.usc.edu.au/University/AbouttheUniversity/Governance/Policies/StudentRelated/Conduct.
htm
The course coordinator may decide to check for plagiarism on a particular piece of
assessment. This will be an automatic process involved in the Assessment Task
submission to Blackboard.
Variations to assessment
All initial inquiries regarding extension of due date for assessment tasks or special
consideration should be made to the Course Coordinator.
If the student’s request for extension and/or special consideration is due to confidential
circumstances, students may wish to contact Student Services who may make a
recommendation to the Faculty.
Extensions
The Faculty may agree to an extension for assessment tasks where a student
experiences illness or other significant personal matters that prevent them meeting the
due date.
A request for an extension must be made to the Course Coordinator via email before
the due date of the assessment task. Requests received on the day that the
assessment task is due are only considered in exceptional circumstances.
If your request for extension is due to illness then you should provide a medical
certificate from your doctor. In the case of severe personal circumstances such as the
death of a close relative, students may need to provide supporting documentation.
Where an extension is granted, the student is expected to submit the assessment task
item by the revised due date. A marking penalty may be applied to assessment tasks
submitted after the extension date.
Graduate Studies Program
Faculty of Business, The University of the Sunshine Coast
Course Outline — Financial Plan Development, Consulting & Negotiation FIN711
Page 21
Special consideration
A student who considers that their academic performance has been adversely affected
by illness, disability or significant personal circumstances may apply to the Course
Coordinator for special consideration. A medical certificate or documentary evidence of
personal circumstances should accompany the application.
If special consideration is granted, the Faculty will take into account the information
contained in the application when determining the student’s final grade.
Special Consideration will only apply where a student is on the pass/fail borderline.
Special Consideration will not apply for movement between pass/credit,
credit/distinction or distinction/high distinction.
Supplementary final assessment tasks
A Supplementary Final Assessment Task can be initiated only at the discretion of the
Course Coordinator where a student has marginally failed to meet the requirements of
the program course and has shown, through results obtained in other pieces of
assessment, a sufficient level of performance and/or competence to warrant setting
additional assessment. The subsequent grade of result awarded after completion of a
Supplementary Final Assessment Task cannot exceed that of “Pass.”
Grade levels
Grades shall be awarded on the following basis:
HIGH DISTINCTION
Where a student achieves an exceptionally high level of
performance and / or competence plus the production
of original work and demonstrated awareness of all
significant elements of the course.
DISTINCTION
Where a student achieves a high level of performance
and / or competence plus the production of original
work and demonstrated awareness of all significant
elements of the course.
CREDIT
Where a student achieves a level of performance and /
or competence substantially above the minimum
requirements of the course.
PASS
Where a student achieves a level of performance and /
or competence which satisfies the minimum
requirements of the course.
PASS UNGRADED
Where a student has satisfied the minimum
requirements of the course but it is not appropriate to
differentiate between levels of satisfactory performance
and / or competence.
FAIL
Where a student has not satisfied the minimum
requirements of the course.
Graduate Studies Program
Graduate Business Studies
Session 3, 2006 – Planner
http://www.usc.edu.au/Students/OnlineLearning/
Monday
Week
1
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Tuesday
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'O' week
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OCTOBER
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NOVEMBER
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CENSUS
DATE
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DECEMBER
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Mid-session break
JANUARY
10
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5
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Final Assessment Week
7
FEBRUARY
Serious Business at USC
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