Check the assignment details. I need 2000 words for Financial plan for the client and another 15 mins roleplay transcript for the financial plan. I will add case study if we are ok with the price
STUDENT STUDENT PROJECT/PORTFOLIO/REPORT ASSESSMENT TASK Task Number_2__ of ___3 Task NameWorkplace Simulated Project and (Role Play) National unit(s) code: FNSASICX503 FNSFPL505 FNSFPL504 National unit(s) title: Provide Advice in Life Insurance Implement Financial Plan Review Financial Plans and services RMIT Program code: C5343 RMIT Course code: BAFI5215C, BAFI5216C, BAFI5219C Use this version for students to provide details of the assessment criteria Assessment Information Duration and/or due date: 11:59PM Sunday 10 May 2020 (Week 13) Task instructions Assessment Information – Task 2 – Workplace Simulated Project Financial Plan in Essential Life Insurance Products This is the first assessment task out of a total of three assessment tasks. You must successfully complete all three tasks to satisfy the criteria for this course. For this assessment task you are to you are required to complete Part 1 and Part 2. Part 1 – requires you to prepare a financial plan in life insurance for a simulated client of the Swanston Banking Group (Practice Firm). Gianni and Davina Maree Case study Part 2 – requires you to conduct to deliver the financial advice as prepared in Part 1 to the client. The workplace simulated project is linked to a simulated workplace environment “the practice firm”, referred as Swanston Banking Group Ltd. The practice firm has a physical presence in Building 80, level 6, room 7. The Swanston Banking Group Ltd. has been set up as a simulated publicly listed company in the Financial Services (Banking) industry offering a retail banking and customer service experience of the highest level not offered or matched by its competitors. The products and services offered to its personal customers (simulated clients) include banking and investment products and financial services such as bank accounts and debit cards, savings and investment accounts, credit cards, travel money cards, overseas and local money transfers, foreign exchange, superannuation, home and personal loans and insurance. The Swanston Banking Group has a website for prospective clients and an employee portal via the Learning Management System (Learning Hub). For this project you will assume the role of a financial planner at the Swanston Banking Group Ltd (Practice Firm) and follow the company policies and procedures as if you were a real employee of the bank. You will need to access a specific simulated client files which will include client details, background of their particular circumstances, assets and liabilities statement, a bank statement, pay slips and a superannuation statement. You will be required to analyze all of these documents in order to prepare relevant documents for the initial meeting with the client. You will use “Advice Tools” stored in the employee portal throughout this course. The tools mirror those used in industry and will prepare you to adapt to industry practice and link your studies to the workplace. The tools include industry specific calculators and documents used in every day financial services practices including Authority to Access Information (AAI), Best Interest Duty file note (BID), client checklist, client acknowledgement form, fact find and style guide. For the first part of the project you will assume the role of the financial planner at the Swanston Banking Group Ltd and you will prepare a financial plan that includes advice in relation to the essential life insurance products. The financial plan that you will prepare must demonstrate that the needs of the client have been met. Once you have successfully completed Part 1, for Part 2 you will be required to demonstrate your adviser communication skills and present your recommendations, responses and research to your client(s). The purpose of the assessment is to enable you to demonstrate a breadth of understanding across the course material from weeks 1 - 12. It assesses the knowledge you have obtained through undertaking the concepts of life insurance, your communication skills in presenting that knowledge and your problem-solving skills in answering the questions posed in a live interview with the simulated client. The main purpose of the assessment is for you to clearly demonstrate analysis of the client’s objectives, needs, financial situation and develop appropriate strategies and solutions in the financial advice prepared and presented to the client. What you need to do You are required to address all questions in Part 1 and Part 2 to successfully complete this task. Part 1 – Financial plan must be submitted prior to role play (2,000 - 2500 Words) Part 2 – Video Recording (MP4 file) of the interview needs to be submitted via Google Drive The word limit is only a guide for you to use as a reference as to how much details you will need to include in your answers. Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, John Calabro, 324567, Task 1, Cluster 5, Financial Planning Skills in Life Insurance, Page 1 of 10 You will be required to access to the course resources on the Learning hub, recommended textbooks and the website links prescribed for the program and the list of resources below specific to this task. You will need copies of specific industry templates from Swanston Banking Group Employee portal from the learning hub the client file the documents required to prepare for your initial fact find client interview. Learning hub Path: Swanston banking Group/Client You will need to access the following documents from the client files: Please find attached the following: Gianni and Davina Maree Case a) Client Brief (highlighted in the Case Study) d) Assets and Liabilities Statement (again in the case study) e) Schedule of Assets, Liabilities, Income and Expenses (Students need to calculate this ) You will also need to access copies of specific industry templates from Swanston Banking Group Employee portal from the learning hub: A) Best Interest Duty – Client Checklist B) Fact Find You must reference all your work using the Harvard referencing System. Available via the Library website http://www1.rmit.edu.au/library/referencing-guides Choose RMIT Harvard - download Harvard referencing examples document Learning Audit Dates (LAD) You will be required to show drafts of your work to the teacher to received regular feedback before the final submission. The Assessment Schedule includes the weeks of the scheduled Learning Audit Dates. List resources and specification relevant to the task * Resources on the learning hub * You will be required to access templates and samples from the banks portal under “advice tools” for example, Product disclosure statements Assessment Support and Advice Report writing is an important job skill The RMIT Study and Learning Centre provide useful and helpful tutorials and tips to enhance your report writing skills, these resources are available at https://emedia.rmit.edu.au/learninglab/content/reports-0 Submission Instructions You should fill in this sheet with your name, number and the title of the assessment, attach your assessment and submit to Blackboard on or before the due date. You should: * Ensure that you submit assessments on or before the due date. * Always retain a copy of your assessment tasks. (hard copy and soft copy) * When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard. The aim of using a simulated client for each workplace project is for you to develop the following knowledge and skills: a) Create rapport with the client b) Collecting, analysing and organising information c) Discuss financial plan with the client d) Planning and organising activities e) Negotiate effectively f) Working with others and in teams g) Complete and maintain necessary documentation Additional guidelines for this project are provided as an attachment below. Part 1 You are required to develop a financial plan for Gianni and Davina Maree based on the headings covered in the Best Interest Duty – File note: a) Goals b) Advice (recommendation – including fees) c) Better position statement d) Trade offs The financial plan must address the following requirements for each client: a) Life and total disability insurance b) Accidental death c) Trauma insurance d) Income protection. You are required to attach to the financial plan an Appendix comprised of evidence of your research, assumptions made and any working out. Part 2 For this part of the assessment you are required to pair with your peers who will undertake the part of the clients. You are to assume the role of the adviser while presenting the financial plan to the clients. You will need to continue building a good rapport with the clients from your previous meeting in Cluster 2 and present the financial plan that you drafted to them. 8 The main aim of the second part is for you to demonstrate your communication skills in delivering all the required information and present the paper you prepared in Part 1 to illustrate how it meets the particular financial needs of the clients. a) Prepare for a meeting/interview with the clients Gianni and Davina Maree Murray to address the following: I. Explain complex terms specifically those relating to life insurance and life insurance products included in the financial plan to the client II. Test the understanding of the client III. Answer questions from the client IV. Negotiate a solution with the client to ensure that he/she happy with the proposal V. Ask for the authority to proceed with implementation of financial plan. You will need to ensure that the client understands all the information provided particularly the concepts in reference to superannuation and retirement planning. The main aim of the second part is for you is to be able to explain all the relevant terms in the financial plan, answer the questions that the client may have and to negotiate the contents of the paper b) You need to record the presentation meeting/interview using your smart phone or MP4 player and upload the video to Google drive and share it with your teacher (John Calabro) For your recording you are required to wear business attire and assume the role of a financial planner conducting a meeting with a client. In preparation for the role plays, you will observe live role plays during the semester in your classes that will demonstrate good practice/techniques. Once your teacher has assessed the whole assessment (written submission and recorded role play) he will contact you to provide feedback and discuss your understanding of the assessment you have submitted. You will be expected to clearly answer a series of questions based on the answers that you have provided in your project. This role play will be part of the authentication