Undergraduate RMI-FNP31-2022

Wealth Creation and Estate Planning

Analyse the world of financial planning, investing and wealth creation.

Hone an ability to decipher risk profiles and recommend wealth creation strategies. Administer and review investment portfolios. Understand how estate planning processes run.

From

$1,829 $2,079

Your upfront cost: $0

International student?

Duration

13 weeks

Study method

100% Online

Available loans

HECS-HELP
FEE-HELP

Assessments

100% online

Prior study

Required

Start dates

28 Nov 2022

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.

QS RANKING 2022

Times Higher Education Ranking 2022

2022

Subject details

What you'll learn

On successful completion of this subject you will be able to:

Drawing on theories of wealth creation, identify the attributes required to accumulate wealth and determine the best investment diversification strategies for a client.
Communicate the benefits of effective gearing to clients and recommend the most appropriate strategy to meet a client’s needs.
Evaluate the effect of superannuation, taxation, operation of trusts and other factors related to estate planning when developing a financial plan.
Evaluate the risk profile required of individuals seeking to accumulate significant wealth and how this relates to long-term investment goals.
Apply a variety of methods to value a business and effectively address issues related to the successful transfer of the business to a successor.
Determine how assets from a deceased estate are taxed and develop strategies to minimise the effect of tax on those assets.
Convey the importance of making a will, its implications in asset protection and the role of the executor in carrying out specified instructions.

Topics covered

- Please refer to RMIT University’s Learning Management System - Canvas, for further details.

Entry requirements

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

RMI-FNP21-Superannuation and Retirement
RMI-FNP32-Investment
RMI-FNP12-Financial Markets (No longer available)
RMI-FNP11-Personal Wealth Management (No longer available)

Additional requirements

No additional requirements

Description

Please note: This subject was previously known as Wealth Creation and Protection.

The aim of this subject is to help you analyse a client’s financial situation, identify Estate Planning needs and then to generate a solution in conjunction with appropriate professionals.

The subject will cover different theories and strategies of Wealth Creation, the attributes required to accumulate wealth and an understanding of the importance risk profiling. You will consider the value of various aspects of investment opportunities, assets and vehicles, the impact of borrowing to invest, home ownership and salary packaging as Wealth Creation strategies.

The subject will also explore Estate Planning and Preservation and its role within the financial planning process.

Assessments

Assessment Task 1 (Linked CLOs: 1,2,5,7) (15%)
Assessment Task 2 (Linked CLOs: 1,2,3,4,5,6,7) (40%)
Assessment Task 3 (Linked CLOs: 1,2,3,4,5) (45%)

Textbooks

Current study term: 27 Nov 22 to 26 Feb 23

Check the learning management system (LMS) of your university for textbook details.