This unit applies risk management knowledge and methodologies to the protection and distribution of wealth with effective personal insurances and estate planning. Analysis and exploration of the insurance policies and risk management products is undertaken and matched to the spectrum of client situations in the process of constructing insurance planning advice. The concept of protecting wealth is expanded to include a strong awareness of the role of estate planning in the adviser-client relationship. Applications of related law and compliance are built into practical client situations and a Statement of Advice with insurance and estate planning advice recommendations will be undertaken. 

This unit is designed to meet the approved degree requirements of Financial Adviser Standards and Ethics Authority [FASEA]. Successful completion of this unit has the added advantage of satisfying the relevant FASEA education requirements of an approved degree and will count towards the annual Continuing Professional Development (CPD) requirement to a maximum of 30 CPD hours per year.

Unit details

Location:
Victoria University Online
Study level:
Postgraduate
Credit points:
12
Unit code:
BAO6004

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Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Identify and solve personal risk in a client financial plan by exercising critical judgement of appropriate insurance products, applied knowledge of insurance theory and regulations, professional and ethical standards in risk management and insurance advice;  
  2. Use financial planning software, online resources and risk management steps to evaluate risk, research and compare insurance products and apply to risk management and optimisation strategies;  
  3. Formulate suitable, tax effective [including CGT] financial advice to manage and distribute wealth in a range of insurance and estate planning contexts [including succession planning and blended family cases]; and  
  4. Model client relationship building skills using clear and coherent communication in client scenarios discussing insurance and estate planning strategies.  

Assessment

Assessment type Description Grade
Assignment Risk Management Essentials (500 words) 10%
Portfolio Risk Management and Estate Planning Situation Review Simulation (2000 words) 40%
Presentation Scaled Statement of Advice - Retirement Planning (2500 words) 50%

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This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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