Undergraduate RMI-FNP34-2019

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.

From

$1,369 $1,619

Your upfront cost: $0

International student?

2019

Duration

13 weeks

Student rating

3.71

Study method

100% online

Available loans

FEE-HELP
HECS-HELP

Assessments

Subjects may require attendance

Prior study

Not required

Study terms

26 May 2019
24 Nov 2019

Australia's largest dual-sector institute, offering both TAFE and higher education, RMIT University proudly delivers work-related education and practical research relevant to current business and community needs. More than 60,000 students study with RMIT, and many of their degrees are available through Open Universities Australia.

Subject details

What you'll learn

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.

Topics covered

- 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
Study resources
- Online materials
  - Printable format materials

Entry requirements

You are recommended to have completed the following subjects(s) or have equivalent knowledge before starting this subject:

Special requirements

No special requirements

Description

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.

Assessments

Assignment (50%)
Invigilated Exam (40%)
Online Test (10%)

Textbooks

Current study term (26 May 19 to 25 Aug 19)

Click on the titles of the listed books below to find out more:

Financial Planning, 2nd Update ed.

Warren McKeown, Mike Kerry and Marc Olynyk

Required

Next study term (24 Nov 19 to 23 Feb 20)

Textbook information is pending.

Related degrees

undergraduate RMI-FIN-DEG-2019

Bachelor of Business Financial Planning