Personal Financial Planning

Unit code: BAO3000 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
City Campus
Prerequisites
N/A
Overview
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Overview

Learn how to succeed in reaching financial objectives, with Personal Financial Planning.

Financial planners assess their clients’ financial positions and then implement strategies to:

  • minimise tax
  • protect wealth and assets
  • grow assets through investment.

In this unit, you will develop the contemporary financial planning concepts and skills necessary to allow you to understand this planning process, the economy and investment markets in order to create a unique plan for clients that maximises their wealth potential.


Personal Financial Planning will provide you with an understanding of the Australian financial services industry, and the tools to know which financial products and services are best suited to a client’s needs.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Articulate an understanding of the financial services industry in Australia, the changing regulatory framework, and how behavioural, economic, political and sociological factors impact upon the financial planning process and individual circumstances;
  2. Argue the importance of strategic and ethical financial planning, and the range of financial planning decisions involved in developing a personal financial plan;
  3. Critically reflect upon the diversity of financial products and services available and the basis of selection to meet the specific goals and objectives of clients, and use this information to present a financial plan; and,
  4. Elicit the impact of risk preferences, taxation, superannuation, social security and estate planning considerations in the development of financial plans.

Assessment

For Melbourne campuses

Assessment type: Test
|
Grade: 5%
Online quiz
Assessment type: Test
|
Grade: 5%
Online quiz
Assessment type: Case Study
|
Grade: 50%
Statement of advice
Assessment type: Test
|
Grade: 40%
Final test

Other locations

For students studying at Central University of Finance and Economics, Liaoning University
Assessment type: Test
|
Grade: 10%
Online quiz
Assessment type: Case Study
|
Grade: 50%
Statement of advice
Assessment type: Examination
|
Grade: 40%
Final exam

Required reading

Financial planning in Australia
Taylor, S. (2019).| LexisNexis Butterworths.

As part of a course

This unit is studied as part of the following course(s):

Bachelor of Laws (Honours)/Bachelor of Commerce (Applied Finance)
LHLC | Bachelor honours degree | Duration: 5 years

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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