Bachelor of Financial Services (Financial Planning)

Pursue a career in the demand-driven industry of financial planning.

The Bachelor of Financial Services (Financial Planning) course has been designed to provide a broad understanding of financial services and specific understanding of financial planning in Australia and globally. Students will leave equipped with the skills and regulatory requirements to practice as a financial planner.

Graduates may find a range of career pathways and employment opportunities related to their areas of expertise and use their acquired skills to develop successful business practice. The course structure will prepare graduates for further academic and professional study. Specifically, students will qualify to undertake a Masters in Financial Planning.

 

Key Study Outcomes:

About the School

This course is provided by Ducere Global Business School at Torrens University Australia CRICOS 03389E.

Read more about Ducere Global Business School

Ducere Global Business School

Course Delivery

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Workload and Assessment

No. of timetabled hours per week:

The standard academic study pattern for courses is 12 teaching weeks per trimester for three trimesters per year, and 13 weeks of vacation per year. It is expected that students will spend approximately 10 hours of study time per week for each 4 units of coursework (130 hours per subject). These 10 hours include a minimum of 3 hours of structured learning in addition to independent study and assessment tasks.

Typical assessment includes:

Methods of assessment will include a combination of invigilated examinations, online testing, individual assignments, group assignments, project reports, presentations and in-class work.

Subject Information

IBL304 In this subject, students will gain practical skills and first-hand knowledge of a financial planning practice or division. They will either be already working in the sector or will seek an internship for a minimum of 400 hours. They will use this experience to apply learnings, reflect, gain confidence with clients and undertake business projects.

CAP303 In this subject, students will draw together the knowledge they have gained throughout the course to undertake a practical task which focuses on the financial planning process as it would apply to a real-life client situation. Students will have the opportunity to display their theoretical knowledge of the financial services industry as well as the practical skills they have developed through the preparation, presentation, implementation and review of a Statement of Advice for a client.

REP302 In this subject, student will explore the various risks that clients face in their daily lives and develop an understanding of the tools and techniques available to manage these risks. Students will learn how to undertake a risk needs analysis covering the various risks identified including death, disability, injury and aged care. The concept of insurance will be explored with an analysis of various types of insurance contracts including the features of each type of cover, how insurance premiums are developed and the process and practical application of insurance in financial planning. Insurance contracts covering assets such as property will also be examined. Other important estate planning issues such as wills, testamentary trusts, powers of attorney, guardianship and the role of nominating beneficiaries will also be addressed.

EFS301 In this subject, students will learn what it means to be enterprising, entrepreneurial and use the principles of self-reflection in order to create an action plan for improvement. Through the modules, students will be practically challenging themselves to critically think, develop leadership skills, challenge assumptions, communicate effectively and manage groups. In addition, they will refine their presentation skills through applied assessment tasks.

TAX206 In this subject, students will explore the fundamentals of taxation and how they apply to individuals and businesses operating in Australia. Issues of personal taxation such as income tax, capital gains, assessable income and salary packaging will be examined along with business taxation, building on previous basic accounting knowledge. Taxation issues such as dividend imputation, goods & services tax and fringe benefits tax will also be explored. The practical application of tax considerations to financial planning will also be evident through investigating the tax issues applicable to various forms of investment structures including company, trust and superannuation entities.

SRP205 In this subject, students will develop an understanding of a range of superannuation and retirement planning concepts. The subject explores the ideology underpinning Australia’s superannuation system and covers topics such as the regulatory environment for superannuation, types of superannuation funds, the role that various participants have in the superannuation industry and the fundamental operating procedures of superannuation funds including rules for contributions, withdrawals and investment strategies. Students will also gain an appreciation of the various retirement planning strategies that are available to Australians.

FMK203 In this subject, students will explore the various financial markets which operate both in Australia and globally to gain an understanding of the mechanisms which underpin these financial markets and institutions. With an emphasis on viewing these markets in action, students will develop a practical understanding of how the markets work and how securities are traded within the markets, utilising their knowledge of security valuation knowledge. This subject will also explore the regulatory and ethical considerations under which financial markets and the intermediaries working within them operate.

MFS202 In this subject, students will be introduced to the fundamental concepts of marketing, its function in business, challenges and different approaches to marketing management. Students will also learn how marketing has evolved in line with digital capabilities and why many fundamentals remain unchanged. By examining consumer behaviours, students will begin to understand how people come to choose services, namely financial.

FPL107 In this subject, students will gain understanding of the financial planning industry in Australia and the role that clients, institutions, financial planners and regulators have with the industry. Students will work through the financial planning process from the initial gathering of data, identification of goals and objectives, risk analysis and client risk profiling. Basic strategies to meet client goals will also be outlined along with an in-depth exploration of the role of various documents required in the financial planning process.

UNM106 In this subject, students will come to explore the importance and objectives of organisational management, the various core frameworks required to design and setup organisations, and the tools and techniques used for the assessment and improvement of organisational performance. They will engage with multiple management theories and examine strategic challenges and imperatives faced by leaders and managers in the finance industry.

ACF105 In this subject students will explore basic accounting concepts fundamental to the financial services industry. This will include discussion of the common corporate structures used in the Australian financial services sector and an overview of the current regulatory environment. It will develop the skills required to produce, interpret and critically analyse financial statements and will highlight the importance of being able to communicate accounting information to make effective business decisions.

ABC104 In this subject, students will gain an understanding of the principles and practice of effective business communication. It will explore communication genres in both business and academic contexts including cultural and professional expectations, issues of professional language and style, structure and types of communication encountered in business environments. Through practical assessments and skills based learning students will locate and evaluate business information sources, analyse, synthesise and communicate important concepts as required by finance professionals. Students will also appreciate important aspects of academic writing including issues of academic integrity and referencing conventions.

FIN103 In this subject, students will develop an understanding of the principles of finance and their application to financial decision making and the financial services industry. Students will be introduced to the financial objectives of firms, financial markets and the securities that are traded in them. Through practical application of theory, students will apply the time value of money concept and other techniques to the valuation of securities to make informed capital budgeting and financing decisions. Students will also apply the concepts of risk and return, security valuation and cash flow considerations to the financial decision making of individuals.

ECF102 In this subject, students will be introduced to the basic concepts, theories and principles of economics which underpin the financial services industry and the general business environment. It focuses on the application of theories to business decision-making and strategic behaviour. Students will understand the broad economic contexts in which business operates, as well as topical economic issues presented in the financial and business media.

IFS101 In this subject, students will gain a broad understanding of the fundamentals the financial services industry and its participants. This includes the role of financial institutions, banks, corporations, individuals and financial markets as well as the regulatory environment. Students will also explore innovation and other contemporary financial services industry issues including employment opportunities for graduates in financial services.

PTM604 In this subject, students will gain a comprehensive understanding of the theoretical aspects of portfolio management and its application to personal financial planning and the broader financial services industry. It will build upon knowledge gained in previous finance and investment subjects by further exploring the portfolio management process, Exchange Traded Products (ETP’s), asset classes, the role of diversification and asset allocation in decision making. Students will apply previous valuation techniques to explore the concept of efficiency in portfolio construction and the use of financial derivatives to manage risk and client objectives. Issues around the role and fiduciary responsibilities will also be explored along with the regulatory environment within which fund manager’s operate.

INV604 In this subjects, students will gain an understanding of the various asset classes available to retail and wholesale investors. They will learn about the key investment strategies financial planners can use and will develop a working knowledge of the key characteristics of each type of investment (including alternative investments) including their structure, risk profile, return profile and the contribution that each could make to an investment portfolio. The various structures in which investments can be held will also be explored along with the regulatory, taxation and other legal aspects of various investments will also be explored.

EPI403 In this subject, students will examine a number of moral frameworks that can be used to analyse ethical issues for individuals, management and organisations. Students will be asked to critically evaluate specific ethical failings of the finance industry, examine the role of codes of conduct and make recommendations. With a focus on reflective practice, students will learn what it means to be professional and maintain integrity throughout their career.

In this subject, students will be introduced to the core concepts of a business model and the importance of each in creating unique value and sustainable business success. In addition to the foundational understanding of core components of business models, students will develop skills in assessing current and future risk and opportunity of a business model, based on strategic market analysis and forward planning. They will also have an opportunity to develop new, innovative business models utilising principles and frameworks learnt.

In this subject, students will explore in detail the nuances of effective communication across diverse stakeholders with different needs and cultural considerations. A focus on verbal, non-verbal, listening and written communication will allow students to refine skills in building relationships, networking, client satisfaction leading to return business and general business communication skills. Through rigorous applied assessment students will complete the course having received comprehensive individualised feedback and have developed an action plan for further skills development.

In this subject students will work in teams to deliver a project for a financial planning organisation. This could be to design a client relationship strategy, service package, marketing strategy or communication strategy. They will be applying understandings of both business and financial planning and refining their strategic, written and presentation skills.

Pre requisites – Introduction to Financial services, Financial Planning

In this subject, students will be introduced to the fundamentals of innovation, its role within entrepreneurship, as well as the key tools and methodologies effectively to foster innovation. They will explore the key differences between innovation and entrepreneurship, as well as the function of innovation within both new and established organisations. Through applied assessment students will develop the ability to inform basic innovation programs and innovation challenges faced by established organisations.

In this subject, students will learn about emerging technologies and their impact on the financial services sector. They will examine the current impacts blockchain, robo advice and virtual reality is having on individuals and industry. Through research and practical assessments they will analyse an emerging fintech to better understand different business models, the entrepreneurial ecosystem and potential challenges fintech faces currently and in the future. Students will also be able to identify the skills necessary to success in fintech startup.

In this subject, students will develop their theoretical understanding of leadership in a general business context, and how different leadership models apply in varying types of organisations. Students will investigate the fundamental differences between management and leadership, as well as how leadership capability is developed in individuals and organisations. Students will explore the concepts of organisational culture and how the traits of an individual leader can influence the overall culture of a business. In addition, students will develop their own leadership style, linking it to relevant theoretical approaches.

In this subject, students will be introduced to the role of data in business and learn the quantitative analysis strategies ensure effective and data driven decision making. The subject explores how to interpret data involving uncertainty and variability, model and analyse the relationships within business data and how to make correct inferences from the data and recognise incorrect inferences. In addition to the quantitative skills students will learn how to communicate, present and facilitate discussion surrounding data.

In this subject, students will gain an appreciation of the issues of delivering a financial service to clients. It will explore aspects of operating a business and the systems and processes required to do so efficiently. Students will examine the regulatory and business environment in which a financial planning practice operates and the business management principles and the techniques to operate a successful practice.