CO-FINS2643-Term 3 - outline for term 3 PDF

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UNSW Business School Course Outline

FINS2643 Wealth Management - 2019 Study Level Undergraduate

Term Term 3

business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

UOC 6 Units of Credit

Location On Campus

School Banking & Finance

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1. Course Details Summary of Course This course teaches a professional financial planning process to manage personal finance, credit, investment and other wealth management tasks. The course consists of four sections: First, an introduction of the financial planning industry, financial planning process and regulatory frameworks. Second, fundamental topics including the taxation, social security, home ownership and credit management. Third, specific topics required for the construction of a comprehensive financial 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 of financial planning advice. The curriculum of this course adapts to professional and regulatory education requirements.

Teaching Times and Locations Please note that teaching times and locations are subject to change.Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations. View course timetable

Course Policies & Support The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below: Program Learning Outcomes Academic Integrity and Plagiarism Student Responsibilities and Conduct Special Consideration Protocol for Viewing Final Exam Scripts Student Learning Support Services Further information is provided in the Assessment and Policies and Support sections.

Course Aims and Relationship to Other Courses This course focuses on: Understanding the nature, usage and regulations of financial products The financial planning process Professional standards and regulations of providing personal financial advice The financial planning application focus and the emphasis on the provision of professional advice to individuals differentiate this course from other investment and portfolio management courses. This course involves the application of financial market, securities valuation and portfolio management knowledge and skills from FINS1612 and FINS2624 in the context of personal wealth management decisions. It does not focus on portfolio or trading strategies per se. 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 FINS3640.

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This course is one of the four required courses in UNSW undergraduate finance programs (FINS1612, 2624, 2643, 3637) for students to claim compliance to ASIC RG146 education requirements for financial product advisers. FINS1612 provides financial market and product training. FINS2624 provides investment valuation and portfolio management training. This course covers all essential elements in the provision of financial planning advice. FINS3637 is the capstone course in financial planning that extends and reinforces the training of this course in the provision of professional financial planning advice. Please visit the following webpage for details including the procedure to prove completion of a RG146 compliant education program which your future or prospective employers in the financial service industry may request. There is no additional application required at UNSW or ASIC.

Student Learning Outcomes The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items. CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all coursework students in the Business School. More information on PLOs is available under Policies and Support . PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”. The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes

Program Learning Outcomes

Course Assessment Item

On successful completion of the course, you should be able to:

This course helps you to This learning outcome will be develop the following assessed in the following Program Learning items: Outcomes:

Identify, evaluate, analyse, communicate and negotiate client resources, financial goals, budget, insurance needs, and risk perceptions.

PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication

Class Contributions Financial Plan Blog Mid-term Exam Final Exam

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

PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication

Class Contributions Financial Plan Blog Midterm Exam Final Exam

PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication

Class Contributions Financial Plan Blog Mid-term Exam Final Exam

PLO 1: Business knowledge PLO 2: Problem solving

Class Contributions Financial Plan Blog Mid-term Exam

Use finance theory and evidence as foundation to explain, recommend and evaluate home ownership and long-term investment strategies given client objectives, risk profile and constraints. Explain, analyse, and recommend appropriate retirement planning strategies including the use of superannuation funds, business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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Course Learning Outcomes

Program Learning Outcomes

self-managed superannuation funds, home ownership and and insurance products.

PLO 3: Business communication

Final Exam

PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication

Financial Plan Blog Mid-term Exam Final Exam

PLO 1: Business knowledge PLO 2: Problem solving PLO 5: Responsible business practice PLO 7: Leadership development

Class Contributions Financial Plan Blog Mid-term Exam Final Exam

Construct, analyse, implement and review a complying personal financial plan.

Explain and apply ethical principles, professional standards and regulation in providing personal financial advice.

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Course Assessment Item

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2. Staff Contact Details Position Title

Name

Email

Location

Phone

Consult

Lecturer- Mr incharge

Nidal Danoun

Email

–

–

By appo ndanoun

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3. Learning and Teaching Activities Approach to Learning and Teaching in the Course The overall objective of the course is to enable students to acquire the knowledge and skills required to implement the financial planning process personally and professionally. The instructors help by providing instructions, curating materials, engaging students and setting assessment tasks. You learn by actively reviewing study materials, making study notes/blog, ask questions, providing feedback, interacting with fellow students (which also facilitate practice of communication skills essential in profession financial planning), applying the knowledge and skills. Assessment tasks are designed to support and incentivise these activities. There is a substantial amount of readings in this course and in offering financial planning advice because the process involves regulations in different domains. There are timeless elements in knowledge, ethical principles and the structure in financial planning, but there are also impermanent regulatory structures, thresholds, tax rates, and other institutional and regulatory parameters. The final solution of a specific financial planning problem depends on the interactions between the timeless elements and the impermanent environment parameters. Financial planning is an emerging field; existing textbooks and reference materials available in the market do not satisfy all the goals of this course. Some materials may appear too broad or at a low level, others may have too dry, too much detail or too deep. You should be pragmatic going through readings and focus on three questions:

1.What are the financial planning problems that this reading could help to solve? 2.What is the timeless knowledge? 3.What are the key sources of regulations and parameters relevant for defining, solving the problem and for providing advice? Persistent focus on these three questions will enable you to maintain clarity through the relatively large volume of information across topics. In order to achieve a high grade in this course, it is essential that you

1. work consistently (do not cramp in the last minute), 2. have hands-on experience in the step by step application of the financial planning process 3. master the distinctions between the timeless and impermanent elements of course materials

Learning Activities and Teaching Strategies Lectures The lectures deliver and engage students to the main ideas, theories, and conceptual frameworks. Lectures include interactive learning activities and will synthesize and emphasize materials from a range of sources, including your own prior knowledge and experiences. We expect you to come prepared for each lecture. This means you should have read and considered the relevant chapter. From a time management perspective, this means you will need to allocate approximately three hours per week for basic reading. If you need any assistance in managing your time you will find the UNSW Business School’s Education Development Unit (EDU) a useful resource.

Tutorials The weekly tutorials provide you with an interactive environment in which to enhance your learning and your enjoyment of the course. These tutorials include exercises and presentation of current events. By actively engaging in the tutorials, you will increase your confidence and competence in technical, business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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presentation and critical skills. They also provide you with the opportunity to enhance your interpersonal skills through interacting with others, working together in diverse groups, forging learning networks, learning about other cultures and learning to understand values and opinions different from your own.

Structured Learning Activities Two types of structure learning activities complement regular lectures and tutorials to achieve the course’s learning outcomes. A series of short animated videos have been designed to motivate and contextualize each topic. You should watch these short videos and complete the associated activity online BEFORE lectures. Please plan for 15 minutes each week PRIOR to lecture for this activity. Two topics are delivered via online modules with recorded lectures and activities: Ethics and Professional Standards, and Asset Allocation. Ethics is a critically important element of financial service and having it as an online element facilitates review and reflection over the term as the course switches focus across different financial planning and advice domains. The Asset Allocation module extends standard portfolio management theory and prepares you for the Portfolio Construction and Fund Selection lecture.

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4. Assessment Formal Requirements In order to pass this course, you must: achieve a composite mark of at least 50 out of 100; meet any additional requirements described in the Assessment Summary section. You are expected to attempt all assessment requirements in the course.

Assessment Structure Assessment Task Tutorial attendance, completion, class Contribution and presentation

Mid-Term Test

Financial Planning blog, My Financial planning task report & executive summary

Weighting 15%

20%

15%

Length

Due Date

Pre-Lecture, During Lecture Activities and Tutorial Contribution & Presentation

Week 2-10

1hr

Week 5 Lecture Time

–

Further information to be provided on Moodle

Weekly Blogs are due every week Post Lecture Financial planning task report & executive summary Further information to be provided on Moodle

Final Exam Total

50% 100%

2 Hrs

Centrally Managed

–

–

Assessment Summary As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete. PLEASE REFER TO THE MOODLE COURSE SITE FOR MORE INFORMATION AND UPDATES

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You should complete the Working with Academic Integrity module before submitting any written assessment by the due date. Non-compliance with the UNSW Student Code may result in disciplinary action.

Lecture/ Tutorial Contribution and Presentation (15%) Class Contribution consists of your contribution to Lecture (5%) and Tutorial (10%) activities, presentation and discussions. There are pre-lecture and during-lecture online activities. During-lecture activities will only be available during lecture hence attendance is essential. Please bring your own device to lecture. Tutorials facilitate small group discussion of course materials and permit on-going assessment of students’ effort and progression in the achievement of learning outcomes. You will be assigned by your tutor in week 1 to a specific week to discuss your blog entry in the previous week. You may highlight the key learning and questions that remain, or how you apply the planning process to your situation (or questions and reflection that arise in the process). The time limit of this oral component is 3 minutes (5%) per student. The Business School Communication rubrics will assist your preparation. Coordinate with fellow discussion leader on topic summary and questions. The remaining 5% of class contribution will be based on your consistent preparation of tutorial work and contribution to discussion.

Weekly Moodle BLOG & My Financial Plan task portfolio report (15%) TWO subject headings are required in each Weekly BLOG entry. Only Plain Text and Inserted Objects are permitted. No attachment would be read. “Week X Reflection”

• This should be completed after reviewing lecture materials and completing tutorial questions. • In 150-250 of YOUR OWN words, describe the key Knowledge and Insights you have learned and what Questions and Thoughts remains. DO NOT COPY TEXTS or SLIDES. Doing this before the tutorial is likely to enhance your tutorial discussion contribution. “Week X My Financial Plan” • Preparing portfolio report based on the weekly activity varies by the week in the required time and writing but essentially it is about building up the financial plan by applying the concepts in the material of the week to your personal situation. • An executive summary (2-3 pages) is due on the student’s tutorial day in week 10. BLOG Marking Criteria

• 50% research and effort (e.g. thinking through the key concepts, doing data collection or selfassessment) • 50% on logic and concise professional writing as per the Business Communication rubrics.

Mid-Term Test (20%) The test will consist of multiple choice and written response questions covering week 1-4. The test will be held in week 5 at the regular lecture time and venue.

Final Examination (50%) The final examinations focus on evaluating students’ command of the body of knowledge and problemsolving skills with respect to the relevant learning outcomes. It is a comprehensive exam with multiple choice, short-essay and problem-solving questions covering the whole course.

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Assignment Submission Procedure Please see instructions in Moodle.

Assessment Feedback Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

Special Consideration You can apply for special consideration when illness or other circumstances beyond your control, interfere with your assessment performance (to apply see Special Consideration on the UNSW Current Students page). Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable. Special Consideration applications will be assessed centrally by the Case Review Team within Student Lifecycle. The Case Review team will update the online application with the outcome and add any relevant comments. Please note the following: Applications can only be made through Online Services in myUNSW. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when you lodge an online application for special consideration. Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession. If you experience illness or misadventure in the lead up to an exam or assessment, you must submit an application for special consideration, either prior to the examination taking place, or prior to the assessment submission deadline , except where illness or misadventure prevent you from doing so. If you sit the exam/submit an assignment, you are declaring yourself well enough to do so and are unable to subsequently apply for special consideration. If you become unwell on the day of the exam, you must provide evidence dated within 24 hours of the exam, with your application. The current provisions will continue for exceptional circumstances, for example, if a student falls sick during an exam. Other exc...