FINS5510 Personal Financial Planning and Management - 2019

6 Units of Credit
Banking & Finance
This course outline is for the current semester. To view outlines from other years and/or semesters, visit the archives

1. Course Details

Summary of Course

This course teaches the financial planning process adopted by professional financial planners to manage finance, investment and other wealth management tasks. The course consists of four sections: First, an introduction of the financial planning industry, financial planning process and regulatory frameworks. Second, the course covers fundamental topics that include communicating with clients, client financial status and goals assessment, budgeting, the taxation and social security systems and home ownership and credit management. Third, the course investigates specific topics required for the construction of a comprehensive financial plan: tax planning; investment strategies and implementation; risk management and insurance; superannuation; and estate planning. The course finishes with an examination of ethics framework and its application in the provision of financial planning advice.

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

Course Aims and Relationship to Other Courses

This course focuses on 1. understanding the nature, usage and regulations of financial products; 2. the financial planning process; 3. professional standards and regulations of providing personal financial advice. The financial planning application focus and the emphasis on the provision of professional advice to individuals differentiate this course from other investment and portfolio management courses. 2 CRICOS Code 00098G This course involves the application of financial market, securities valuation and portfolio management knowledge and skills from FINS5512 and FINS5513 in the context of personal wealth management decisions. It does not focus on portfolio or trading strategies per se. Advanced level coverage of valuation, investment and portfolio strategies can be found in other courses offered by the School of Banking and Finance, e.g. FINS5517, 5541 and 5542. This course is one of the four required courses in UNSW postgraduate finance programs (FINS5512, 5513, 5510, 5537) for students to claim compliance to ASIC RG146 education requirements for financial product advisers. FINS5512 provides financial market and product training. FINS5513 provides investment valuation and portfolio management training. This course covers essential elements in the provision of financial planning advice. FINS5537 is the capstone course in financial planning that extends and reinforces the training of this course in the provision of professional financial planning advice. Please visit the following webpage for details including the procedure to prove completion of a RG146 compliant education program which your future or prospective employers in the financial service industry may request. There is no additional application required at UNSW or ASIC.

2. Staff Contact Details

Position Title Name Email Location Phone Consultation Times
Lecturer-in-chargeAProfKingsley FongRoom 344B, UNSW Business School building - Ref E12 +61 2 9385 4932

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

The overall objective of the course is to enable students to acquire the knowledge and skills required to implement the financial planning process personally and professionally. The instructor helps by providing instructions, curating materials and setting assessment tasks. You learn by actively reviewing study materials, making study notes, ask questions, providing feedback, interacting with group members (which also facilitate practice of communication skills essential in profession financial planning), applying the knowledge and skills and reflect on each of these activities. Assessment tasks are designed to support and incentivise these activities. There is a substantial amount of readings in this course because offering financial planning advice involves regulations in different domains. There are timeless elements in finance knowledge, ethical principles and the structure of financial planning, but there are also impermanent regulatory structures, thresholds, tax rates, and other institutional and regulatory parameters. The final solution of a specific financial planning problem depends on the interactions between the timeless elements and the impermanent environment parameters. Financial planning is an emerging field; existing textbooks and reference materials available in the market do not satisfy all the goals of this course. Some materials may appear too broad or at a low level, others may have too dry, too much detail or 5 CRICOS Code 00098G too deep. You should be pragmatic going through readings and focus on three questions: 1. What … a. Is the reading/chapter/notes/lecture about? b. are the timeless knowledge, relationships and insights? c. are the regulations and parameters relevant for defining, solving the problem and for providing advice? 2. Why … a. What financial planning problems that this learning could help us to solve? 3. How … a. Can we recognise the issue or problem if we are presented with a situation? b. What would be your recommendation when presented with a situation? Persistent focus on What-Why-How will enable you to maintain clarity through the relatively large volume of information across topics. To achieve a high grade in this course, it is essential that you 1. work consistently (do not cramp in the last minute), 2. have hands-on experience in the step by step application of the financial planning process, and 3. master the distinctions between the timeless and impermanent elements of course materials.

Learning Activities and Teaching Strategies

Learning activities and assessments are designed to support an active learning philosophy. Slides and Online Lectures The instructor produces slides and online lectures to set out the main concepts and framework for each topic. These instructions synthesize materials from textbook and other sources and provide the first attempt to identify the timeless financial planning knowledge and the impermanent environment. You are encouraged to add their won refinements and insights via your blog (see below). The Self-Assessment Exercises Self-Assessment exercises are integral part of this course. These exercises provide you with an opportunity to apply the materials in lectures and reading materials. They are intended to increase your confidence and competence in technical and critical skills. You should budget for at least two hours per topic for these exercises. Online Tests The two online tests consist of multiple choice questions and written problem solving questions. They are designed to evaluate your understanding of the key concepts 6 CRICOS Code 00098G studied in previous weeks, as well as allowing you to apply the technical knowledge in solving practical problems or in simulated work scenarios. You will get timely feedbacks on your performance, with which you can evaluate your learning effectiveness periodically throughout the semester. To excel in the tests, you are expected to demonstrate strong knowledge and thorough understanding of the key financial planning concepts covered in lectures. In addition, you need to develop and apply critical analysis and problem solving skills. Group Project The project will provide an opportunity for you to work together on a financial planning case. Students are expected to submit 3 items as a group: 1. Strategic Advice (up to 2000 words) a. The Strategic Advice is the substance of advice given client objectives, resources, constraints and other variables. 2. Compliance Checklist (up to 500 words) a. The Compliance Checklist lists the regulatory requirements for the plan if the advice were to be written as a professional financial plan for a fee. 3. Quality Checklist (up to 500 words) a. Quality Checklist lists the criteria that distinguish the quality of a financial plan. Overall your group submission is one step short of writing out a professional financial plan which would have more formatting and editorial requirements. The emphasis here is the economic substance and quality of advice as well as demonstrating awareness of regulatory compliance requirements. The case problem solving nature of the group assignment will assist with final exam preparation. Each group member is expected to contribute substantially to the project, which will enable you to develop team work and oral communication skills.

5. Course Resources

You will be able to obtain the latest course announcements and course materials via Moodle. Lecture notes will be available for download a day before the lecture in a teaching week.  

Prescribed text  

• Taylor, S., and R. Juchau, 2018. Financial Planning in Australia 8th Ed, LexisNexis Butterworths.  

Reference Materials  

• Standard of Practice Handbook (10th Edition), CFA Institute

• Australian Master Financial Planning Guide 2017-18, 20th ed., Wolters Kluwer CCH.

• Clitheroe, P., 2009, Making Money: The Keys to Financial Success, New and Updated, Penguin.

Reference internet sites  

• Financial Advice Standard and Ethics Authority

• Financial Planning Association

• Business spectator

• Professional Planner


• Financial Planning Association

• Money

• Australian Securities Exchange Ltd

• Morningstar Australia

• Australian Tax Office

• Reserve Bank of Australia

• Australian Prudential and Regulatory Authority

• Centrelink

• Law For You

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.


7. Course Schedule

Week Activity Topic Assessment/Other
Week 1: 3 Dec 2018Module 1

Financial Planning, Process and the Profession

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities Chap 1-3

Module 2

Financial Plan, Advice and Regulations

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 2,4-5

Week 2: 10 Dec 2018Module 3

Taxation Basic, Structures and Planning

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 13-14

Module 4

Home Ownership and Consumer Credit

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 6, 10

Week 3: 17 Dec 2018Recorded Module

Ethics and Professional Standard in Financial Planning

Revision Quiz for Online Test


Assignment Plan

Due 19 Dec 2018 23:59

Week 4: 2 Jan 2019 (Wed)Module 5

Asset Allocation

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 7, 8, 9

Module 6

Portfolio Construction and Fund Selection

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 7, 8, 9

Week 5: 7 Jan 2019Module 7

Social Security, Retirement Planning and Superannuation

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 11

Module 8

Superannuation and SMSF

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 12, 18

Online Test

Module 1-3 + Ethics

Moodle Online Test (time restricted)

7 Jan 2019 Sydney 7-8pm

Week 6: 14 Jan 2019Module 9

Life and General Insurance

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 17

Module 10

Estate Planning

15-20 min BEFORE lecture to watch the videos and complete (assessed) engagement activities

Chap 19

Week 7: 21 Jan 2019Assignment Due

Assignment Due 23 Jan 2019 23:59

8. Policies and Support

Information about UNSW Business School protocols, University policies, student responsibilities and education quality and support.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs.  Separate PLOs for honours and postgraduate research programs are included under 'Related Documents'.

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.



UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate CapabilitiesBusiness School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 7: Leadership development

Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 6: Global and cultural competence
  • PLO 7: Leadership development

Professionals capable of ethical, self-directed practice and independent lifelong learning
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 5: Responsible business practice

Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 5: Responsible business practice
  • PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility.  The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Centre.

Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.


UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

  • Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
  • Paying another person to perform an academic task and passing it off as your own
  • Stealing or acquiring another person’s academic work and copying it
  • Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz:


The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at:

For UNSW policies, penalties, and information to help you avoid plagiarism see: as well as the guidelines in the online ELISE tutorials for all new UNSW students: For information on student conduct see:

For information on how to acknowledge your sources and reference correctly, see: If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.

Student Responsibilities and Conduct

Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.


It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload


Your regular and punctual attendance at lectures and seminars or in online learning activities is expected in this course. The Business School reserves the right to refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.

Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School Education Quality and support Unit (EQS)
The EQS offers academic writing, study skills and maths support specifically for Business students. Services include workshops, online resources, and individual consultations.
Level 1, Room 1033, Quadrangle Building.
02 9385 7577 or 02 9385 4508

Business School Student Centre
The Business School Student Centre provides advice and direction on all aspects of admission, enrolment and graduation.
Level 1, Room 1028 in the Quadrangle Building
02 9385 3189

UNSW Learning Centre
The UNSW Learning Centre provides academic skills support services, including workshops and resources, for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
02 9385 2060

Educational Support Service
Educational Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process. Check their website to request an appointment or to register in the Academic Success Program.
John Goodsell Building, Ground Floor.
02 9385 4734

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9385 2650

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
02 9385 3331

UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
02 9385 1333

Disability Support Services
UNSW Disability Support Services provides assistance to students who are trying to manage the demands of university as well as a health condition, learning disability or who have personal circumstances that are having an impact on their studies. Disability Advisers can arrange to put in place services and educational adjustments to make things more manageable so that students are able to complete their course requirements. To receive educational adjustments for disability support, students must first register with Disability Services.
Ground Floor, John Goodsell Building.
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
02 9385 5418

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