Introduction to Financial Planning
Take a step-by-step approach to financial planning – one that has been tested by professionals. Learn to gather qualitative and quantitative data, identify goals, note financial problems, prepare written recommendations, maintain plans and more.
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Subjects may require attendance
QS RANKING 2020
Times Higher Education Ranking 2020
Upon successful completion of this subject, students should be able to:
- Explain the advisory functions of financial planners
- Describe the Australian legal framework within which financial planners operate
- Apply the steps involved in the financial planning process to client scenarios
- Evaluate the process of giving financial advice
- Identify and explain ethical considerations and professional conduct requirements
- The regulatory framework
- Managed funds
- Home ownership
- Risk management and insurance
- Consumer credit
- Social security
- Estate planning
In order to enrol in this subject, you must be accepted into one of the following degrees:
No special requirements
A comprehensive financial plan will contribute towards the quality of a person’s life by reducing the uncertainty about their future needs and the resources that will be available to meet them. This subject is an introductory course examining what is involved in organising and managing an individual’s financial resources, and how to protect, maximise and enjoy the benefits obtained from these resources. The financial planning industry undergoing significant change commencing from March 2004 with the implementation of the Financial Services Reform Act 2001 (FSRA).
The aim of the subject is to provide a sound understanding of the process of financial planning, together with some of the fundamental skills and knowledge that are required. In line with these objectives, each of the recognised steps in the financial planning process that have been developed by financial planners will be examined in detail, namely: gathering qualitative and quantitative data; identifying goals; identifying financial problems including: setting priorities, deciding on trade-offs and considering opportunity costs; preparing or interpreting written recommendations; implementing agreed-upon plans; and reviewing, revising and maintaining personal financial plans.
The key areas that are important for the financial planning process are examined, namely: the regulatory framework; investments; managed funds; superannuation; home ownership; risk management and insurance; taxation; consumer credit; social security; estate planning.
- Online test (12%)
- Invigilated exam (60%)
- Individual written assessment (22%)
- Tutorial participation (6%)