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 FNSFPL604, '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 |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Establish plan objectives and scope | 1.1 Review and compare research results with client requirements and expectations, and analyse current client situation to determine opportunities and constraints 1.2 Review special features of client situation such as high asset, income or expenditure requirements, complex taxation and/or legal issues, or complex estate planning issues 1.3 Identify desired financial resource and market parameters and develop plan objectives for asset growth, income, risk, estate planning and any other objectives developed in consultation with client 1.4 Identify taxation or estate objectives and discuss with client |
2. Develop strategic assumptions | 2.1 Develop and test client related and economic key assumptions 2.2 Develop and test legislative, regulatory and taxation assumptions 2.3 Seek clarification from client or other financial services professionals as required and document strategic assumptions for client review |
3. Develop innovative or complex financial strategy | 3.1 Develop initial options based on strategic assumptions and client specifications 3.2 Analyse, model and prioritise strategic options and reject inappropriate strategic options 3.3 Develop supporting arguments for each strategic option and include in draft overall strategy 3.4 Integrate strategy, where required, into taxation, legal, estate or insurance and asset strategies being developed for client by other professional advisers for financial plan to achieve maximum synergy and benefit for client 3.5 Review strategy for best practice compliance and risk management 3.6 Include fee and charge analysis for strategy options 3.7 Maintain best practice ethical behaviour, 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 Select strategic options for review with client and suitable mode of presentation 4.2 Fully review each strategic option with client, including positives, negatives and risks for each option 4.3 Ensure that implication of each option, including regulatory and legal implications for client’s situation, needs and goals, is explained to client and understood 4.4 Ensure that client understands where additional professional advice is needed 4.5 Establish broad agreement on strategies with client and resolve any concerns and issues raised by client |
5. Develop preliminary financial plan for client | 5.1 Conduct full investigation of products and options, including non-standard and/or innovative products, and select products and options to meet agreed strategy 5.2 Identify complex or innovative products and develop or obtain explanatory material 5.3 Incorporate requirements for cash flow, liquidity, capital preservation or estate planning 5.4 Develop recommendations for financial asset allocation structure including, where required, provision for equities, trusts, partnerships, allocated pensions and superannuation 5.5 Develop recommendations for changes to income and taxation arrangements, taxation consequences and estate planning issues relating to client strategy, and provide referral advice to accountants or lawyers as appropriate 5.6 Develop recommendations on risk management strategies and products, and incorporate into plan 5.7 Incorporate description of anticipated fees and charges into plan 5.8 Incorporate information on internal and external complaints resolution procedures into preliminary plan 5.9 Document preliminary financial plan according to organisational guidelines and procedures |
6. Ensure compliance of financial plan with regulatory and organisational requirements | 6.1 Check preliminary financial plan to ensure that role of representative or adviser is properly documented 6.2 Check preliminary financial plan to ensure compliance with relevant Acts, legislation and regulatory guidelines 6.3 Assess preliminary financial plan for its ability to successfully achieve stated objectives 6.4 Check preliminary financial plan to ensure that it complies with ethical and regulatory requirements |
7. Produce client financial plan | 7.1 Produce financial plan in accordance with organisational presentation requirements 7.2 Attach supporting organisation and product explanatory documentation, and regulatory and complaints information where required |