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 undergoing 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.
|Unit name||Introduction to Financial Planning|
|College/School||College of Business & Economics
Tasmanian School of Business and Economics
|Discipline||Accounting and Corporate Governance|
|Coordinator||Mr Simon Duigan|
|Available as student elective?||No|
|Location||Study period||Attendance options||Available to|
|Hobart||Semester 1||On-Campus||Off-Campus||International International||Domestic Domestic|
- International students
- Domestic students
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|Study Period||Start date||Census date||WW date||End date|
* 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 (see withdrawal dates explained for more information).
Unit census dates currently displaying for 2021 are indicative and subject to change. Finalised census dates for 2021 will be available from the 1st October 2020.
- 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.
- Describe the process of giving financial advice.
- Identify and explain ethical considerations and professional conduct requirements
|Field of Education||Commencing Student Contribution 1||Grandfathered Student Contribution 1||Approved Pathway Course Student Contribution 2||Domestic Full Fee|
1 Please refer here more information on student contribution amounts.
2 Information on eligibility and Approved Pathway courses can be found here
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 this page to get an indicative course cost.
|Assessment||Test or quiz (15%)|Project (50%)|Assignment (35%)|
|Timetable||View the lecture timetable | View the full unit timetable|
Taylor, S; Juchau, R 2017, Financial Planning in Australia 2017 essentials edition, LexisNexis Butterworths, Sydney
|Links||Booktopia textbook finder|
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