FINS2643
Wealth Management
2024 Summer Term.
Course Design and Assessments
Course Design
• Explain and apply finance knowledge for financial planning in the real-
world context.
• Realise our biological and psychological nature as human beings and
the implications for what we do, value and fear, how we make
decisions, and relate to each other.
• Support your development as a person and as purposeful finance
professional.
• Meet this course's education requirements in the FASEA approved
degree requirements mandatory for retail client financial advisers.
FASEA
Curriculum 1
Financial
Advice
Principles
FASEA Curriculum Details FASEA Curriculum Learning Outcomes
1. Economic environment and financial advice, Monetary
fiscal policy, Business cycle, Economic Indicators
1. Explain the advisory functions of financial advisers
including: the holistic and relational role of the financial
adviser as distinct from a simple product advisory role; the
participants in the advisory services market; and the range of
services provided by financial advisers.
2. Introduction to the regulatory environment, what is
compliance, Legislation and regulation, Regulators, Financial
planners and fiduciary relationship, Disclosure documents-
FSG, PDS, SOA
2. Describe the Australian legal framework within which
financial advisers operate and their legal, social and ethical
responsibilities.
3. The financial advice process
3. Apply the steps involved in the financial adviser process
to client scenarios.
4. Stakeholders and their roles in financial advice
4. Undertake research, construct and present a limited
scope Statement of Advice (SOA) to meet client requirements
in an ethical and professional manner.
5. Establish ethical client-adviser relationships
5. Demonstrate a knowledge and understanding of the
process of giving financial advice.
6. FASEA Code of Ethics and Code Monitoring
6. Exhibit an appreciation of the role of the client and
advisor in the financial advice relationship.
7. Gathering client data and determining needs & goals
7. Exhibit an appreciation of the role of the client and
advisor in the financial advice relationship
8. Developing and presenting the financial plan, Cash flow
and debt management, Investment management, Life
insurance, Superannuation and retirement planning, Taxation
in financial planning, Social security and aged care in financial
planning, Estate planning, Types of credit, debt and
bankruptcy, Documentation, file notes, due diligence and
other compliance processes
8. Identify and understand ethical considerations and
professional conduct requirements in the giving of financial
advice
9. Implementing the financial advice
9. Explain the impact of financial advice and advice failures
on consumers of that advice
10. Monitoring and reviewing the financial advice
FASEA Curriculum 8
Behavioural Finance
Client and
Consumer
Behaviour/Client
Relationships
FASEA Curriculum Details FASEA Curriculum Learning Outcomes
1. Developing an understanding of behavioural biases in
individual and group decision-making
1. Identify the different types of behavioural biases clients
exhibit.
2. The interactions between human capital and financial
capital
2. Articulate the different approaches in decision-making
clients may prefer.
3. A review of the foundations of efficient markets, and
then draws comparisons between the market and the less
understood but possibly more realistic behavioural
understanding of markets
3. Describe the linkages between behavioural biases and
decision-making and implications for investment decisions
made by clients.
4. Application of behavioural finance to client engagement
and the professional client relationship
4. Explain the interactions between human capital and
financial capital.
5. Communication in a professional context
5. Apply behavioural Finance to client engagement and the
professional client relationship.
6. Providing information about services to clients (FSG,
PDS)
6. Apply behavioural finance knowledge in the best interest
of the client.
7. Collecting information from clients and setting goals
7. Employ and apply theoretical knowledge of the
psychology of client engagement in the financial services
context.
8. Understanding self and others
8. Gain an understanding of individual behavioural patterns
as applied across different genders, age and social
demographics and cultures.
9. Interpersonal communication skills, the importance of
body language, how to create trust
9. Communicate effectively both verbally and non-verbally
and engage positively in dealings with clients and peers.
10. Fiduciary duty, Ethical and professional conduct,
Legislated ‘client best interests’ requirement
10. Think critically in order to solve problems effectively
when communicating with others.
11. Behavioural finance: risk profiling vs investment
behaviour
11. Demonstrate sound judgment when engaging in ethical
practice and display professional standards reflecting
responsible and sustainable practices.
12. Managing the ongoing relationship
12. Provide advice tailored to clients based on their literacy
and financial literacy to ensure they understand strategy and
how they will meet their objectives.
13. Conflict resolution
14. Literacy and financial literacy in Australia; Provide advice
to clients based on their literacy and financial literacy level.
Overall Assessment Design
Formative
Summative
2 hr
Length Due Date
– Flexible by due dates
– Weekly
Assessment Task
Class Contributions (3 quizzes+Forum)
Financial Planning Blogs and
Meta reflection
Mid-Term Test
Final Exam
(comprehensive)
Weighting
5%
25%
20%
50%
1 hr Week 3 Online
TBA (Online)
Class Contributions 5%
Cultivate Learning Community Experience.
Formative. Feedback. Safe environment.
Demonstration of Effort, Communication, Collaboration.
Activities When Where Frequency Weighting %
Thoughtful Post-Lecture
Discussion Forums (PLDF) Weekly/ongoing
Moodle
Weekly
(9PLDF in
total)
Bonus Mark
Self-assessment
Quizzes
By Due Date
Moodle 3 5% in Total
Blogs 25%
Cultivate a Reflective Practice for Personal and Professional Development
An environment of your choice to observe, feel, relate, realise, reflect,
research, distil, construct, and communicate your learning.
Know yourself and others.
Cultivate self-awareness and communication skills to fulfill your clients'
purpose in an adaptive, resilient, and socially conscious manner.
Formative. Private. Safe environment.
Demonstrate Quality in Authentic, Reflective, and Deep Learning.
Weekly Blog + Meta-Reflection
What do you Blog about?
1. Client Engagement (You can start after the lecture.)
• Watch videos and answer some questions.
• Demonstrate that you develop purpose, professionalism, and client engagement
skills.
2. My Financial Plan (You can start after the lecture.)
• Demonstrate authenticity and deep learning via careful data collection, research,
and considered interpretation here.
3. Reflection (Best as the last activity, i.e., after lecture, tutorial, Blog Part
1 and 2)
• Demonstrate authenticity and reflective practice here.
• In YOUR OWN words (at least 100 words no word limits), describe in relation to the
module
• The most significant Threshold Concepts you have learned and why OR
• Thoughts/Questions you feel are important to note for personal or professional growth.
• This part is about looking inward to make sense of and integrate your learning
experience.
• No need to conduct research.
How to Demonstrate Quality in Authentic,
Reflective, and Deep Learning?
• Authentic
• Original ideas and or about the real-world context.
• DO NOT COPY someone else, textbook or slides.
• Reflective
• Examine your experience, learn from it, and integrate the new learning with
what you already know.
• Deep Learning
• Structure in the line of thoughts or inquiry and integrate the new learning with
what you already know.
• Self-motivated and going around what is explicitly asked.
• Quality
• Research and effort.
• Concise and persuasive writing that calls for actions.
• Timeliness and Completeness.
• Marks will be awarded pro-rata based on Blogs to be assessed by the due date.