Formats and tools
- Unit Description
- Reconstruct the unit from the xml and display it as an HTML page.
- Assessment Tool
- an assessor resource that builds a framework for writing an assessment tool
- Assessment Template
- generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
- Assessment Matrix
- a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
- Wiki Markup
- mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
- Evidence Guide
- create an evidence guide for workplace assessment and RPL applicants
- Competency Mapping Template
- Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
- Observation Checklist
- create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)
- Self Assessment Survey
- A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
- Moodle Outcomes
- Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
- Registered Training Organisations
- Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSFPL604A, 'Develop complex and innovative financial planning strategies'.
- Google Links
- links to google searches, with filtering in place to maximise the usefulness of the returned results
- Books
- Reference books for 'Develop complex and innovative financial planning strategies' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Establish plan objectives and scope | 1.1. Research results are reviewed and compared to client requirements and expectations and the current client situation analysed to determine opportunities and constraints 1.2. Special features of client situation are reviewed such as high asset, income or expenditure requirements, complex taxation and or legal issues, or complex estate planning issues 1.3. Desired financial resource and market parameters are identified and plan objectives are developed for asset growth, income, risk, estate planning and any other objectives developed in consultation with client 1.4. Taxation or estate objectives are identified and discussed with the client |
2. Develop strategic assumptions | 2.1. Client related and economic key assumptions are developed and tested 2.2. Legislative and regulatory assumptions, including taxation assumptions are developed and tested 2.3. Clarifications are sought from client or other financial services professionals as required and strategic assumptions documented for client review |
3. Develop innovative or complex financial strategy | 3.1. Initial strategic options are developed based on strategic assumptions and client specifications 3.2. Strategic options are analysed, modelled and prioritised with inappropriate strategic options rejected 3.3. Supporting arguments for each strategic option are developed and included in a draft overall strategy 3.4. Where required, strategy is integrated into taxation, legal, estate or insurance and asset strategies being developed for client by other professional advisers in order for the financial plan to achieve maximum synergy and benefit for the client 3.5. Strategy is reviewed for best practice compliance and risk management 3.6. Fees and charges analysis is included for the strategy options 3.7. Best practice ethical behaviour is maintained including full disclosure of any potential conflicts of interest and areas where advice should be sought from other professionals. |
4. Review and settle draft strategy and options with client | 4.1. Strategic options for review with the client and a suitable mode of presentation are selected 4.2. Each strategic option is fully reviewed with client including positives, negatives and risks for each option 4.3. Representative ensures that implication of each option, including regulatory and legal implications for the client's situation, needs and goals is understood 4.4. Representative ensures that client understands where additional professional advice is needed 4.5. Broad agreement on strategies is established with client including resolution of any concerns and issues raised by the client |
5. Develop preliminary financial plan for client | 5.1. A full investigation of products and options is conducted including non-standard and/or innovative products and products and options selected to meet agreed strategy 5.2. Complex or innovative products are specifically identified and explanatory material developed or obtained 5.3. Requirements for cash flow, liquidity, capital preservation or estate planning are incorporated 5.4. Recommendations for financial asset allocation structure is developed, including where required, provision for equities, trusts, partnerships, allocated pensions, and superannuation 5.5. Recommendations for changes to income and taxation arrangements, taxation consequences and estate planning issues relating to the client strategy are developed including referral advice to accountants or lawyers as appropriate 5.6. Recommendations on risk management strategies and products are developed and incorporated into the plan 5.7. Description of anticipated fees and charges are incorporated into the plan 5.8. Information on internal and external complaints resolution procedures is incorporated into the preliminary plan 5.9. Preliminary financial plan is documented according to organisation guidelines and procedures |
6. Ensure compliance of financial plan with regulatory and organisation requirements | 6.1. Preliminary financial plan is checked to ensure that the role of the representative or adviser is properly documented 6.2. Preliminary financial plan is checked to ensure compliance with relevant Acts, legislation and regulatory guidelines 6.3. Preliminary financial plan is assessed for its ability to successfully achieve stated objectives 6.4. Preliminary financial plan is checked to ensure that it complies with ethical and regulatory requirements |
7. Produce client financial plan | 7.1. Financial plan is produced in accordance with organisation presentation requirements 7.2. Supporting organisation, product explanatory documentation and regulatory and complaints information where required is attached |