20796 Personal Wealth Management
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2025 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksRequisite(s): 25721 Investment Management OR 20721 Investment Management
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 25796 Personal Wealth Management
Description
In this subject, students learn about the investment and financial issues arising from the management of personal wealth.
They discover the structure of the Australian financial planning industry and examine the components of personal wealth management. The subject is designed to provide them with the necessary skills to develop and manage the financial plans of clients, to help them meet their immediate goals and long-term objectives.
Subject learning objectives (SLOs)
| 1. | Evaluate the critical elements involved in developing and managing a personal financial plan, including the range of products, services, and securities available to individuals |
|---|---|
| 2. | Develop financial plans that meet the needs and wealth management objectives of a diverse range of individuals |
| 3. | Evaluate and manage the impacts of ethical, regulatory and legal constraints on personal wealth management and the financial planning process |
Contribution to the development of graduate attributes
This subject examines the investment and financial issues arising from the management of personal wealth. It commences with an introduction to the Australian financial planning industry and continues by exploring the most important components of wealth management.
Successful completion of this subject will contribute to the following graduate attributes (GAs):
- Intellectual rigour and innovative problem solving
- Communication and collaboration
- Social responsibility and cultural awareness
- Professional and technical competence
Teaching and learning strategies
The subject will be taught using a combination of lectures and integrated workshop questions. These classes will be supplemented with extensive electronic learning materials and resources. The learning management system will be used to share information and encourage interaction be-tween staff and students. Students will also use Word and Excel to complete the financial planning case study. Students are expected to prepare for class by accessing relevant links to online material as well as going through assigned weekly readings uploaded via the learning management system and in the prescribed textbook.
Students should be prepared to discuss the material during class. Short examples are contained within each week’s lecture to demonstrate how theory is applied to real-world problems.
As a means of connecting the subject to professional practice and providing an active learning experience, guest lecturers from the financial planning industry are invited to speak about their professional practice and experience. Their lectures provide real-life examples on how they manage the impact of the ethical, regulatory, and legal environments in which they operate. These talks help reinforce concepts learned in class and from online materials. Students are encouraged to ask the guest lecturers questions.
There will be quizzes during the semester. Students’ scores in these quizzes will form part of their overall assessment for the subject. The correct solutions will be uploaded to the learning management system.
Students will be required to submit a financial plan for hypothetical clients at the end of the semester. Time will be allocated for students to discuss how the concepts and strategies learned in class may be applied to this assignment. This will provide students with an important in-class collaborative learning experience.
Students are encouraged to use the Discussion Board to ask questions and interact with each other, and to enhance their understanding of the topics covered in the subject.
Content (topics)
- Introduction and overview of the financial planning industry in Australia
- Developing financial plans, budgeting; taxation planning
- Investment planning including: direct investments; managed funds; manager/product selection; asset allocation;
- Home ownership and property investing;
- Risk management and insurance;
- Social security;
- Leveraged investments;
- Superannuation planning;
- Estate planning;
- Retirement planning
Assessment
Assessment task 1: Case Study (Group)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 25% |
| Length: | Documents should not exceed 25 pages in total (including title page and references). |
| Criteria: | The assessment criteria for the financial plan are:
|
Assessment task 2: Quizzes (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1 and 3 |
|---|---|
| Weight: | 25% |
| Length: | Five open book online quizzes of 45 minutes each |
| Criteria: | Questions will be graded based on:
?*Note: Late submission of the assessment task will not be marked and awarded a mark of zero. Students who do not complete a quiz will have the weighting of that assessment task added to the final examination conditional on the students submitting, receiving approval and complying with the requirements of special consideration in accordance with the UTS rules. If the composite mark for the final exam is more than 50 percent and the student is in the final subject of their degree, the UTS rules on borderline result (range of 45-49, inclusive) shall apply whereby students will be allowed to undertake a supplementary final examination. Where a student completes and passes a supplementary examination, the maximum mark awarded for the subject will be 50 Pass. |
Assessment task 3: Final Exam (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 50% |
| Length: | Two hours. |
| Criteria: | The final exam will be graded based on:
|
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Warren McKeown, Mike Kerry & Marc Olynyk (2017), Financial Planning 2nd Updated Edition, John Wiley and Sons. ISBN: 9780730343554 (ebook)
Available at: https://www.wileydirect.com.au/buy/financial-planning-2nd-update-edition/ or accessed online via the library.
Other learning material will be placed on Canvas.
Recommended texts
Sharon Taylor (2019), Financial Planning in Australia: Advice and Wealth Management, LexisNexis ISBN 9780409351439 (ebook)
Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes (14th Edition), Personal Finance ISBN 9781265105426 (ebook)
Australian Master Financial Planning Guide 2019/2020, CCH.
Students are also encouraged to read the e-magazine Professional Planner (http://www.professionalplanner.com.au/) for the hot topics in financial planning. The latest issues are free online.