Financial Advisory Practice
Count the steps involved in launching your own financial planning business. Get a handle on business management concepts and tools. Make note of potential customer service issues.
Produce a detailed financial statement of advice for a client.
Your upfront cost: $0
Subjects may require attendance
- 27 May 2019
- 25 Nov 2019
At the completion of this subject you will be able to:
- Identify and discuss the principal customer service issues associated with the management of a financial planning practice
- Identify client data requirements and demonstrate competence in the application of data collection techniques, including interview techniques
- Demonstrate competence in identifying clients' objectives and needs and establishing clients' risk profile
- Demonstrate competence in preparing a range of strategies based on clients objectives and needs
- Prepare a comprehensive financial plan appropriate to the client
- Demonstrate a knowledge of the procedures necessary to implement and review a financial plan
- Demonstrate a knowledge of ethical issues relevant to financial planning and an understanding of the Financial Planning Association of Australia Code of Ethics and Rules of Professional conduct
- Discuss issues relevant to the business management of a financial planning practice
- Demonstrate ability to discuss issues relating to planning and establishing a financial planning practice
- Understand succession planning for a financial planning business and how businesses are valued.
- The process of financial planning
- Financial plan development
- Integration of the financial planning process
- Case studies in financial planning
- Professional practice and code of ethics
- Planning a financial planning practice
- Establishing a financial planning practice
- Licensing and staffing issues
- The dynamics of a model financial planning business
- Business succession planning and valuing a financial planning business
- Printable format materials
You are recommended to have completed the following subjects(s) or have equivalent knowledge before starting this subject:
- RMI-FNP31-Wealth Creation and Estate Planning
- RMI-FNP23-Risk, Insurance and Social Security
- RMI-FNP22-Law of Investments and Financial Markets
- CUR-BLW32-Introduction to Australian Tax Law
- RMI-FNP21-Superannuation and Retirement
- RMI-FNP11-Personal Wealth Management
No special requirements
Please note: This subject was previously known as Financial Planning Practice Management.
Financial planning draws upon a range of disciplines and culminates in the preparation of a Statement of Advice for a client. The practice of financial planning requires understanding of regulation and the application of business management principles and techniques. The first aspect of this subject requires the application of these skills in the preparation, presentation, implementation and review of a personal financial plan for a client. The second aspect of the subject focuses on financial planning practice management and aims to ensure students are aware of many of the practical issues that will confront them in the financial planning industry. You will also identify and discuss the principal customer service issues associated with the management of a financial planning practice.
- Assignment (50%)
- Invigilated Exam (40%)
- Online Test (10%)
Click on the titles of the listed books below to find out more:
Textbook information is pending.