AYN457 Financial Planning Principles and Regulation
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYN457 |
|---|---|
| Equivalent(s): | AYQ457 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| Domestic tuition unit fee | $4,092 |
| International unit fee | $4,584 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | AYN457 |
|---|---|
| Credit points: | 12 |
| Equivalent: | AYQ457 |
| Coordinator: | Elisabeth Sinnewe | elisabeth.sinnewe@qut.edu.au |
Overview
This unit aims to introduce students to key financial planning processes, concepts, issues, ethics requirements, laws and regulations applicable to financial services in Australia. Introduction to financial planning areas of investments and asset allocations, taxation planning, insurance and risk management, superannuation and retirement planning and statement of advice processes are covered. Responsibilities and obligations for licencees and their representatives are also discussed. This includes requirements pertaining to disclosure obligations for financial products and services, anti-money laundering and counter-terrorism financing (AML & CTF), privacy, statement of advice, and Tax Practitioner Board (TPB) requirements.The foundation knowledge and skills learned in this unit form the basis for further postgraduate study in the financial planning discipline.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply an understanding of the nature and purpose of financial planning services to real world financial planning issues, problems and contexts.
- Demonstrate knowledge of Australian financial services and the regulations that govern them, including the ability to apply legislation and regulatory policies to a variety of contexts.
- Exercise critical thinking, evaluation and judgement for evidence-based problem solving and decision making in the context of financial planning problems and financial services regulation.
- Clearly communicate and professionally structure and present ideas, judgements and opinions.Relates to: PG Business Capabilities: PC (3.1)
Content
This unit will provide an introduction to financial planning concepts and services and examine the laws and regulations applicable to financial services in Australia. Responsibilities and obligations for licencees and their representatives are also discussed. This includes requirements pertaining to: disclosure for financial products and services; anti-money laundering and counter-terrorism financing (AML & CTF); privacy; statement of advice; and TPB requirements
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
Teaching and learning strategies in this unit are designed to facilitate the learning objectives and outcomes of the unit. The unit will introduce students to financial planning concepts and the legal and regulatory principles applicable to the regulation of financial products and services. The teaching and learning approach is based on weekly sessions, which will focus on addressing key concepts, and opportunities will be provided for students to develop and demonstrate their competence through active participation.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal explanations, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Research Presentation
Students will individually research and present once in the semester a selected topic relating to a particular weeks' learnings and prepare a short paper summarising their findings for the relevant issues.
Formative or summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), PC (3.2), SE(5.1)
Assessment: Financial Planning Case
Students will be provided with a case which will require them to research on financial planning issues.
Formative or summative: Formative and Summative
Business Capabilities (AoL goals): HO(2.1), PC(3.1), SE(5.1)
This is an assignment for the purposes of an extension.
Assessment: Final Examination
Theory examination. This examination covers the whole of semester content. More details will be provided towards the end of the semester. The purpose of this assessment is to determine a student's knowledge of key concepts and issues raised throughout the semester.
Formative or summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.1)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Sharon Taylor, 10th Edition (2022) Financial planning in Australia: advice and wealth management ISBN:9780409351422
Reference book(s)
Ashley Black and Pamela Hanrahan Securities and Financial Services Law, Sydney, LexisNexis.
Other
Macquarie Big Black Book https://www.macquarie.com.au/assets/bfs/documents/adviser/Big-Black-Book-Comprehensive-facts-and-figures-for-financial-advisers.pdf
Relevant Legislation:
Corporations Act 2001 (Cth)- Commonwealth Government Printer
Australian Securities and Investment Commission Act 2001 (Cth) - Commonwealth Government Printer
(These Acts are available on the internet at http://www.austlii.edu.au or http://law.agps.gov.au).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Financial Planning Case, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Final Examination
KS (1.1): Discipline and Professional Practice Knowledge
Relates to: ULO1, ULO2, Research Presentation, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Research Presentation, Financial Planning Case
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, ULO3, Research Presentation, Financial Planning Case, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS79 Graduate Diploma in Business
- Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
Relates to: ULO1, ULO2 - Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
Relates to: ULO1, ULO2, ULO3 - Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Relates to: ULO3 - Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
Relates to: ULO4 - Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
Relates to: ULO2, ULO3
Unit Outline: Semester 1 2024, Online
| Unit code: | AYN457 |
|---|---|
| Credit points: | 12 |
| Equivalent: | AYQ457 |
Overview
This unit aims to introduce students to key financial planning processes, concepts, issues, ethics requirements, laws and regulations applicable to financial services in Australia. Introduction to financial planning areas of investments and asset allocations, taxation planning, insurance and risk management, superannuation and retirement planning and statement of advice processes are covered. Responsibilities and obligations for licencees and their representatives are also discussed. This includes requirements pertaining to disclosure obligations for financial products and services, anti-money laundering and counter-terrorism financing (AML & CTF), privacy, statement of advice, and Tax Practitioner Board (TPB) requirements.The foundation knowledge and skills learned in this unit form the basis for further postgraduate study in the financial planning discipline.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply an understanding of the nature and purpose of financial planning services to real world financial planning issues, problems and contexts.
- Demonstrate knowledge of Australian financial services and the regulations that govern them, including the ability to apply legislation and regulatory policies to a variety of contexts.
- Exercise critical thinking, evaluation and judgement for evidence-based problem solving and decision making in the context of financial planning problems and financial services regulation.
- Clearly communicate and professionally structure and present ideas, judgements and opinions.Relates to: PG Business Capabilities: PC (3.1)
Content
This unit will provide an introduction to financial planning concepts and services and examine the laws and regulations applicable to financial services in Australia. Responsibilities and obligations for licencees and their representatives are also discussed. This includes requirements pertaining to: disclosure for financial products and services; anti-money laundering and counter-terrorism financing (AML & CTF); privacy; statement of advice; and TPB requirements
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
Teaching and learning strategies in this unit are designed to facilitate the learning objectives and outcomes of the unit. The unit will introduce students to financial planning concepts and the legal and regulatory principles applicable to the regulation of financial products and services. The teaching and learning approach is based on weekly sessions, which will focus on addressing key concepts, and opportunities will be provided for students to develop and demonstrate their competence through active participation.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal explanations, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Research Presentation
Students will individually research and present once in the semester a selected topic relating to a particular weeks' learnings and prepare a short paper summarising their findings for the relevant issues.
Formative or summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), PC (3.2), SE(5.1)
Assessment: Financial Planning Case
Students will be provided with a case which will require them to research on financial planning issues.
Formative or summative: Formative and Summative
Business Capabilities (AoL goals): HO(2.1), PC(3.1), SE(5.1)
This is an assignment for the purposes of an extension.
Assessment: Final Examination
Theory examination. This examination covers the whole of semester content. More details will be provided towards the end of the semester. The purpose of this assessment is to determine a student's knowledge of key concepts and issues raised throughout the semester.
Formative or summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.1)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Sharon Taylor, 10th Edition (2022) Financial planning in Australia: advice and wealth management ISBN:9780409351422
Reference book(s)
Ashley Black and Pamela Hanrahan Securities and Financial Services Law, Sydney, LexisNexis.
Other
Macquarie Big Black Book https://www.macquarie.com.au/assets/bfs/documents/adviser/Big-Black-Book-Comprehensive-facts-and-figures-for-financial-advisers.pdf
Relevant Legislation:
Corporations Act 2001 (Cth)- Commonwealth Government Printer
Australian Securities and Investment Commission Act 2001 (Cth) - Commonwealth Government Printer
(These Acts are available on the internet at http://www.austlii.edu.au or http://law.agps.gov.au).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Financial Planning Case, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Final Examination
KS (1.1): Discipline and Professional Practice Knowledge
Relates to: ULO1, ULO2, Research Presentation, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Research Presentation, Financial Planning Case
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, ULO3, Research Presentation, Financial Planning Case, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS79 Graduate Diploma in Business
- Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
Relates to: ULO1, ULO2 - Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
Relates to: ULO1, ULO2, ULO3 - Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Relates to: ULO3 - Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
Relates to: ULO4 - Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
Relates to: ULO2, ULO3