Courses & Units
Introduction to Financial Planning BFA508
Introduction
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 unit 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 has undergone significant change commencing from March 2004 with the implementation of the Financial Services Reform Act 2001 (FSRA). The aim of the unit 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.
Summary
| Unit name | Introduction to Financial Planning |
|---|---|
| Unit code | BFA508 |
| Credit points | 12.5 |
| College/School | College of Business & Economics Tasmanian School of Business and Economics |
| Discipline | Accounting |
| Coordinator | Doctor Roger Colbeck |
| Delivered By | University of Tasmania |
| Level | Postgraduate |
Availability
| Location | Study period | Attendance options | Available to | ||
|---|---|---|---|---|---|
| Hobart | Semester 1 | On-Campus | International | Domestic | |
| Online | Semester 1 | Off-Campus | International | Domestic | |
Key
- On-campus
- Off-Campus
- International students
- Domestic students
Note
Please check that your computer meets the minimum System Requirements if you are attending via Distance/Off-Campus.
Units are offered in attending mode unless otherwise indicated (that is attendance is required at the campus identified). A unit identified as offered by distance, that is there is no requirement for attendance, is identified with a nominal enrolment campus. A unit offered to both attending students and by distance from the same campus is identified as having both modes of study.
Key Dates
| Study Period | Start date | Census date | WW date | End date |
|---|---|---|---|---|
| Semester 1 | 26/2/2024 | 22/3/2024 | 15/4/2024 | 2/6/2024 |
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2024 are indicative and subject to change. Finalised census dates for 2024 will be available from the 1st October 2023. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
Learning Outcomes
- Critique the advisory functions of financial planners. within the adviser/client relationship
- Analyse the Australian legal framework within which financial planners operate.
- Apply sustainable financial planning process steps to client scenarios.
- Evaluate the ethical considerations and professional conduct requirements
Fee Information
| Field of Education | Commencing Student Contribution 1,3 | Grandfathered Student Contribution 1,3 | Approved Pathway Course Student Contribution 2,3 | Domestic Full Fee 4 |
|---|---|---|---|---|
| 080101 | $2,040.00 | $1,597.00 | not applicable | $2,979.00 |
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
If you have any questions in relation to the fees, please contact UConnect or more information is available on StudyAssist.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
Teaching
| Teaching Pattern | For each of the Topics there are workshop power point slides, online presentation material and video interviews that introduce key concepts. The 12 topics /weeks are for students to use as readings and source material. The on-campus classes will be delivered in intensive three-hour block workshops, four times a semester. There are 12 x 1 hour weekly online workshops across the semester. |
|---|---|
| Assessment | Assignment analysis (25%)|Workshop participation activities (35%)|Project (40%) |
| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required |
McKeown, Olynyk, Kerry, Cianco, La, 2021, Financial Planning, Essentials Edition, Wiley, E-Book or Paperback |
|---|---|
| Recommended | Taylor, S; Juchau, R, 2021, Financial Planning in Australia Essentials Edition, LexisNexis Butterworths, Sydney Russell, S 2019, Behavioural Finance: A Guide for Financial Advisers, Simon Christopher Russell at Trustee for the BCF Consulting Services Trust. Lawson, C, Gill, R, Feekery, A Witsel, M, Lewis, M & Cenere, P 2019, Communication Skills for Business Professionals, second edition, Cambridge. Ackert, L & Deaves, R 2009, Behavioral Finance: Psychology, Decision-Making, and Markets, 1st edn, Cengage Learning https://faaa.au/ | Links | Booktopia textbook finder |
The University reserves the right to amend or remove courses and unit availabilities, as appropriate.