Enrolments for 2019 have closed.
Financial Advisory Practice
Undergraduate | RMI-FNP34 | 2019
Course information for 2019 intake
View information for 2020 course intakeCount 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.
- Study method
- 100% online
- Assessments
- Subject may require attendance
- Entry requirements
- Prior study needed
- Duration
- 13 weeks
HECS-HELP and FEE-HELP available
Financial Advisory Practice
About this subject
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
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%)
For textbook details check your university's handbook, website or learning management system (LMS).
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Entry requirements
Prior study
To help set you up for success before you start this subject, we suggest completing or having equivalent knowledge in:
and one of
- CUR-BLW32-Introduction to Australian Tax Law
CUR-BLW22 (Not currently available)
Additional requirements
No additional requirements
Study load
- 0.125 EFTSL
- This is in the range of 10 to 12 hours of study each week.
Equivalent full time study load (EFTSL) is one way to calculate your study load. One (1.0) EFTSL is equivalent to a full-time study load for one year.
Find out more information on Commonwealth Loans to understand what this means to your eligibility for financial support.
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