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Unformatted text preview: 6/12/2011 1 Unit 1.0 Course Overview Kingsley Fong firstname.lastname@example.org 1 What is this course about? • Subject Matter • Skill Building • Awareness of the ethics and the economic functions of the profession 2 Subject Matter, Perspectives and Approach • Personal financial planning and management • Profession financial planning and advisory – Financial Advisors – Financial Planners • Regulatory Guideline 146 Compliant – B.Com (Finance)/M.Com (Finance)/M.FinPlan – FINS2643/5510 – FINS3637/5537 3 Financial decisions that people make • Consumption vs Savings – Let’s have lunch here, and there! – I am going to get that car, iphone, holiday… – I’ll put $100 per week into a long term saving account. – I’ll add 6% to my superannuation? • Financing – HECS or paying outright? – Pay by credit cards or from loan? – Cash, margin account, CFD, or home loan? – How do I pay them off? 4 • Investment – Should I invest my savings in term deposit? – Which stock should I add to my portfolio? Is it the right time to buy? – How do I know if this managed fund is suitable for me? • Asset Protection – Should I buy life insurance? Car insurance? How much? – How would family breakdown affect my finance and wealth? 5 Financial Planning • Financial planning is about how to make personal financial decisions and to ensure that we have money to do what we want to do in life! 6 6/12/2011 2 Sounds simple? • It’s not rocket science. • It requires – Common sense – Emotional and technical skills – Knowledge and information – Organization skills and execution effort 7 Course Level Learning Outcomes • Understanding the wealth management and financial planning industry • Set and assess financial goals • Create budget and saving plans to accumulate wealth • Discuss and assess risk profiles • Recommend appropriate asset allocation and long term investment strategies 8 • Understand the valuation and selection criteria of major investment products such as managed funds and financial securities • Evaluate the investment value and select finance for residential properties • Discuss the Australian taxation system and suggest tax effective ways to build wealth • Create and assess the effectiveness of retirement strategies such as public and self managed superannuation funds 9 • Select appropriate insurance products • Consider the financial consequences of family relationship and instruments available to reduce uncertainty • Evaluate and arrange financial affairs to better access social security benefits • Arrange for the creation of instruments to distribute estate and non ‐ estate assets • Construct a financial plan 10 This Course Is NOT About • Advanced or sophisticated finance theory • Get rich quick methods • Short term trading strategies such as arbitrage or day trading • Stock picking skills 11 Materials • Taylor, S., R. Juchau, and B. Houterman, 2010, Financial Planning in Australia, 4...
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This note was uploaded on 01/25/2012 for the course FINS 5510 taught by Professor Kingsleyfong during the Three '11 term at University of New South Wales.
- Three '11