25771 Financial Planning in Practice (Capstone)

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.

UTS: Business: Finance
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

Requisite(s): 48 credit points of completed study in spk(s): C04381 Master of Financial Planning OR 72 credit points of completed study in spk(s): C04438 Master of Finance Master of Financial Planning OR 30 credit points of completed study in 30Credit Points spk(s): MAJ00801 c 36cp Financial Advice Major MFinance
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.

Description

Students in this subject are asked to critically combine all the knowledge acquired throughout the program to provide comprehensive advice to clients in an ethical and professional manner. The subject is based on a hands-on approach whereby students critically analyse hypothetical client situations and participate in in-class research and discussions with the instructor, industry experts and other students in order to explore possible approaches to provide successful advice.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:

1.	Critically analyse a Statement of Advice (SOA) and assess its quality and coherence
2.	Create financial solutions for clients using the financial planning process
3.	Undertake research, construct and present a full Statement of Advice (SOA) to meet client requirements in an ethical and professional manner
4.	Exhibit an appreciation of the role of the client and advisor in the financial planning relationship particularly with regards to identifying and understanding ethical considerations and professional conduct requirements in providing financial planning advice

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

Critically analyse and apply innovative and integrated solutions to address complex financial planning issues (1.1)
Communicate information clearly in an appropriate form for financial planning clients and other relevant stakeholders (2.1)
Collaborate as a member of a team and interact with stakeholders to deliver financial planning outcomes (2.2)
Critically evaluate and apply social and sustainability principles in a financial planning context (3.1)
Appraise knowledge of diverse cultural and Indigenous perspectives and their implications for the practice of financial planning (3.2)
Integrate advanced knowledge and skills for ethical and effective financial planning practice (4.1)

Contribution to the development of graduate attributes

This subject provides students with a deep understanding of the financial planning process and a hands-on experience constructing a Statement of Advice. This process will involve creative thinking and the combination of knowledge from different disciplines. As such this subject contributes to the development of the following graduate attributes:

Intellectual rigour and innovative problem solving
Communication and collaboration
Social responsibility and cultural awareness
Professional and technical competence

Teaching and learning strategies

This subject is based on collaborative learning activities that include online material and activities, lectures, in-class discussions and applied case studies. The online material and activities will reinforce students’ knowledge about the financial planning process and present hypothetical client situations. Case studies will be used to develop analytical financial planning skills and explore alternative approaches to solving complex and uncertain situations. Students will actively discuss the case studies with the instructor and work through scenarios based on real world examples.

Content (topics)

The financial planning process.
Establishing ethical client-financial planner relationships.
Gathering client data and preparing personal financial statements.
Developing personal financial goals and evaluating alternative choices.
Developing and presenting a financial plan that incorporates budgeting, taxation planning, risk management, investment strategies and retirement needs
Implementing a financial plan.
Documentation, file notes, due diligence and other compliance processes.

Assessment

Assessment task 1: Quizzes (Individual)*

Objective(s):	This addresses subject learning objective(s): 2
Weight:	20%
Length:	Students will have 60 minutes to complete each quiz
Criteria:	Evaluate and communicate appropriate solutions that demonstrate an understanding of the financial advice process *Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 2: Assignment (Individual)*

Objective(s):	This addresses subject learning objective(s): 1, 2 and 3 This addresses program learning objectives(s): 1.1, 2.1 and 2.2
Weight:	40%
Length:	Maximum 2,000 words and a 10-minute presentation
Criteria:	Critical analysis of the client’s situation and presentation of appropriate and integrated solution for their future financial security. Evidence of the application of the financial planning process in the financial solution. Evidence of research and analysis to meet the client’s needs and incorporates ethical and professional requirements. Communicate a Statement of Advice that adheres to the ASIC regulations, uses appropriate language for all stakeholders and demonstrates an understanding of the financial advice process Evidence of team collaboration with an industry professional *Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 3: Case Study (Individual)

Objective(s):	This addresses subject learning objective(s): 1, 3 and 4 This addresses program learning objectives(s): 3.1, 3.2 and 4.1
Weight:	40%
Length:	Maximum 2,500 words
Criteria:	Critical analysis of the client’s situation and presentation of appropriate and integrated solution for their future financial security. Evidence of research and analysis to meet the client’s needs and incorporates ethical, regulatory and professional requirements. The Statement of advice uses appropriate language, reflects the ethic and professional considerations of the advisor / client relationship. Evidence of a critical evaluation that applies social and sustainability principles. Demonstration of an evidenced based appraisal of diverse cultural and indigenous perspectives. Presentation of an integrated, ethical and effective financial planning solution.

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)

The book is available in digital form from the UTS Library.

References

Australian Master Financial Planning Guide (latest financial year edition)