Assignment Task: Case Study
Learning Goals:
1: Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2: Use information literacy skills and communicate effectively and professionally in written forms using media appropriate for diverse purposes, contexts and audiences
Social, Ethical and Global Understanding (SE)
3: Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analyzing and effectively responding to complex business issues
Assignment Purpose:
This case study is designed to help develop your ability to provide written advice to clients. The assignment will require you to demonstrate:
- Understanding the practical aspects of financial planning advice
- Structuring research materials to support financial planning advice
- Evidence of research beyond the textbook
- Consideration of ethical issues when providing financial planning advice
Simply quoting the textbook content in this assessment will not be enough. In particular, the second scenario of this case study requires you to critically think and provide your own opinion based on a discussion and analysis of the issue. There is no correct answer for this part, and your answer should consider the issues from many perspectives. You must, however, demonstrate that you understand the relevant issues and are able to reach a suitable conclusion.
Case Study: Briony Brown
Requirements:
Section A - Budgeting and cashflow
A1. Prepare a monthly cash flow statement and personal balance sheet for Briony.
A2. Quantify Briony's objective. Is it achievable based on her current expenditure and savings?
A3. Construct a projected monthly budget for Briony to help her achieve her financial objective. You are required to justify each adjustment to Briony's finances. Show workings to demonstrate how Briony is going to achieve her goal.
Section B - Research and investment recommendations
You are required to demonstrate the process you used to determine your recommendation for whether Briony should buy an investment property or invest in a managed fund.
You should use research to inform and justify your recommendation. This should be in the form of industry or government reports, news articles (not blogs), and peer-reviewed (academic) literature.
In a clearly presented table-matrix, show the client how you have considered the relative characteristics, benefits and risks of each investment scenario, the expected return (from research), and any tax implications or benefits. Also, discuss the client's risk profile traits and how the client's risk profile may or may not align to the asset's risk profile.
Section C - Ethics and compliance
To comply with the best-interest duty (BID) a financial adviser needs to ensure they follow the safe harbour process. An adviser is required to:
- identify the objectives, financial situation and needs of the client that would reasonably be considered as relevant to advice sought on that subject matter (the client's relevant circumstances)
- base all judgements in advising the client on the client's relevant circumstances; and
- take any other steps, at the time the advice is provided, that would reasonably be regarded as being in the best interest of the client.
Conclude whether your investment recommendations have met the safe harbour process. What other recommendations should you make to Briony to ensure compliance with BID? In your answer, ensure to adequately define BID and identify the regulatory and ethical standards that pertain to BID.
Communication
Communication will be marked based on the requirements indicated in the criteria sheet.
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Attachment:- Financial Planning Principles And Regulation.rar