FPC009 Complex Financial Planning Assignment 2 – Australia.

Subject Code & Title :- FPC009 Complex Financial Planning
Assessment type :- Assignment 2
Weighting :- 60%
Total word limit :- 7,000 words
Assignment 2 Details :-
1.This assignment covers all topics and accounts for 60% of your final grade.
2.Following your analysis of the case study provided for clients Trevor and Tina Cook you will be required to produce a statement of advice SOA that addresses their financial situation and goals and objectives. You will be assessed on the quality of your advice and the way your SOA is compiled While guidance tasks to assist you to complete the SOA are included in Part 2 you should not submit any separate notes or analysis in relation to these. Your analysis and findings from completing these tasks should be in corporated in your SOA.
FPC009 Complex Financial Planning Assignment 2 – Australia.

3.There are three (3) parts to completing your assignment:
– Part 1: Instructions for completing the assignment
– Part 2: Developing the advice
– Part 3: The statement of advice.

4.Your over all mark for this assignment will be rounded to the nearest whole number.

5. Word limit: Your response to the assignment tasks should not exceed 7,000 words. Marks will only be
awarded for your assignment response up to the word limit, plus 10% for the overall assignment. Any material written in excess of the limit will not be eligible for marks consideration so it is important to be not only communicative but also concise and selective in the manner of your responses.Numerical tables calculations and reference lists are not included. For more information on word counts and their rationale, go to Assessment → Assignment → Assessment Preparation Guide.

6.Assignment structure:
I. Use of software: You may use financial planning software to assist in modelling strategic options for the clients and for preparing the SOA, provided you personalise the content and ensure that it is clear concise and effective and conforms to the structural guidelines for an SOA contained with in the sample SOA in Topic 4 located beneath your subject notes and required readings Your SOA document must be formatted and presented in a professional manner that would be appropriate to provide to a client.
II. If you use software please ensure that you include in the reference list the software provider name soft ware version number Licensee name and Licensee number.

Use of template: You may use the Sample SOA provided in Topic 4 located beneath your subject notes and required readings, as a guide to assist you in formatting your SOA in a Word document. Any use of templates software products recommended and independent research must have intext citations and be included in your reference list.

7. Refer to the Mark allocation grid and Criteria-based Marking Guide for guidelines on the allocation of marks and what is expected for each section. To assist you in satisfactorily completing the assignment five (5) best interests guidance tasks have been incorporated You should address all five tasks when constructing your SOA.

8.You may need to undertake research beyond the subject notes to complete this assignment. You should
conduct as much research as needed to give quality advice and fulfil your obligations as a financial adviser.

9.Full workings must be shown for all calculations Show all calculations in the text of your assignment and not attached as an appendix. Only appendices specified in the assignment will be read.

10. Indicative weightings are noted beside each question Use these weightings to assist you with your allocation of time and resources. The weightings indicate the relative importance of each question.

11.State all assumptions used in providing your answer.

Policies :
• Marks will only be awarded for answers up to the word limit (plus 10%) for each question Any material written after this will not be counted towards your mark for that question Headings quotes and references within the body of the answer are included in the word count. Numerical tables calculations and reference lists are not included For more information on word counts and their rationale go to Assessment → Assignment 2 → Assessment Preparation Guide.
•The Assessment Preparation Guide contains information about format and presentation word limits citations and referencing collusion plagiarism and other policies use ful resources submitting your assignment and accessing your results.
• Answers are to be in your own words Reference and cite all your sources with in the text of your answer when quoting or using material from external sources Include a reference list at the end of your assignment.
• Use of the Harvard referencing style is recommended (as per Kaplan Australia: Harvard Referencing Guide available from the Referencing and Research section of the Build Your Skills hub in KapLearn but the consistent application of any other referencing style will also be accepted.
• Requests for special consideration or information pertaining to special consideration written in the body of the task will not be considered by the assessor. Refer to the special consideration section of the Assessment Policy on Kaplan’s website for more information.

Independent research :-
For some or all questions in this assignment you will be required to complete in dependent research beyond the provided materials You will also be expected to analyse this research and use it to support your own reasoned conclusions.

This includes:
• consideration of multiple sources beyond topic notes or other provided resources
• sources included are academically sound and credible
• analysing and understanding the argument or information the source presents
• using the material appropriately to directly support your conclusions.

Where significant independent research is required for a given question it will be clearly indicated in the question instructions and the Criteria-Based Marking Guide.

Assignment research and referencing
Your assignment should be presented in a clear and appropriate format with all sources correctly referenced and cited.

You are required to:
• structure a clear response to each question using headings if required
• number questions (including sub-questions) and pages
• use correct font style and size
• ensure tables or graphs are clearly labelled and readable
• clearly set out calculations or workings, where they are required
• adhere to the assignment word limit
• cite sources and provide a reference list at the end of your assignment It is recommended to use Kaplan Professionals preferred referencing style Harvard see Kaplan Australia Harvard Referencing Guide available from the Build Your Skills hub in Kap Learn but the consistent application of any other referencing style will also be accepted.

Part 1: Instructions for completing the assignment
The assessment
You will be assessed on your ability to analyse the quantitative and qualitative information given to you about clients Trevor and Tina Cook, who are requiring financial planning advice, and to then produce a
statement of advice SOA in a form which complies with best interests duty obligations and the safe harbour advice elements described in section 961B(2) of the Corporations Act 2001 (Cth) and ASIC Regulatory Guide RG 175 Licensing: Financial product advisers Conduct and disclosure.

FPC009 Complex Financial Planning Assignment 2 – Australia.

To develop the advice you will need to prepare taxation and cash flow statements as well as a net worth statement for the clients covering their current situation in addition to their situation if they implement
your recommendations.

The assignment requirements
You should read the whole assignment first so you under stand the process you must follow and the
outcomes required at each stage. Reading all sections will provide guidance on what is required. Read the case study thoroughly so you understand the clients’ objectives, needs, values and attitudes.

Word count :
The maximum word count for this assessment is 7,000 words. Your work should be clear concise and effective as required by Regulatory Guide 175 RG 175. Your advice should be tailored to the needs of these clients and their situation and should not include standard text irrelevant to their circumstances.

Research
You will likely have to refer to your internal resources or research websites in preparing your advice.
You will also have to research appropriate financial products that can meet the clients’ needs.

Use of your company’s resources
You may find it use ful to use resources with which you are familiar. For instance you may transfer the facts
of the case to a fact find document to assist with your analysis of the clients objectives needs and financial
circumstances.

FPC009 Complex Financial Planning Assignment 2 – Australia.

You may use proprietary software and/or reliable industry calculators for calculations and modelling. If applicable you may also use your company’s SOA template to assist in developing your SOA. How ever overuse of templated paragraphs that are not specifically relevant or tailored to the client’s circumstances will be penalised. An SOA template has also been provided for you in the appendices of this document. You may use these templates in your assignment.

Alternatively you can write your own SOA using spread sheets for calculations and modelling however note the comments above on word count. Again as noted above you are expected to tailor the document to the needs of the clients.

Please note that you must reference your SOA for referencing instructions refer to your Assignment details section.

FPC009 Complex Financial Planning Assignment 2 – Australia.

Part 2: Developing the advice
Financial advisers must act in the best interests of their clients as described in section E of RG 175 and under the Code of Ethics.

One way to demonstrate that you are acting in the clients best interests is to follow the steps of the safe harbour also described in RG 175.

The first five (5) guidance tasks set out below follow the steps of the safe harbour process and are designed to assist you as you construct your SOA. Refer to the sixth (6th) guidance task to ensure you have included all required components in your SOA. It is important to remember that even if you have followed the safe harbour steps you may need to go further to comply with your best interests duty obligations under the Code of Ethics.

Note: You should not submit any separate notes or analysis in relation to these. Your analysis and findings
from completing these tasks should be incorporated into your SOA.