Hi, this assignment requires me to construct a
Scaled / Limited Statement of Advice (SOA)using Xplan.1 MAA317 – Superannuation Planning Trimester 3 2020 Assignment 2: Scaled / Limited Statement of Advice (SOA) DUE DATE AND TIME: The assessment task needs to be submitted online through CloudDeakin by 8.00pm AEDT, Wednesday 10 February, 2021 PERCENTAGE OF FINAL GRADE: This assessment is worth a total of 60% of the overall marks for this unit. o o Learning Outcome Details Unit Learning Outcome (ULO) Graduate Learning Outcome (GLO) ULO 1: Integrate theoretical, technical and practical superannuation and retirement planning knowledge and skills. GLO 1, 2, 3, 4 and 5. ULO 2: Identify and evaluate superannuation and retirement planning options for a client given varying social, economic and ethical contexts. ULO 3: Create strategic solutions that are in the client’s ‘best interest’ and construct a limited scope Statement of Advice. Assessment feedback: The results of the final assessment will be released as per the university result release schedule. T3 2020 MAA 317 Superannuation 3 2 Submission instructions • The assessment required the submission of a scaled/limited Statement of Advice based on client information provided in Assignment 1. • This assessment task is to be completed individually. Group submissions will not be accepted. • The electronic copy of the SOA must be submitted via CloudDeakin. • Assessments that do not comply with the submission requirements will not be marked. • You must keep a backup copy of every assessment you submit, until the marked assessment has been returned to you. In the unlikely event that one of your assessment is misplaced, you will need to submit your backup copy. • Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism. • When you are required to submit an assessment through your CloudDeakin unit site, you will receive an email to your Deakin email address confirming that it has been submitted. You should check that you can see your assessment in the Submissions view of the assessment dropbox folder after upload, and check for, and keep, the email receipt for the submission. Notes • Penalties for late submission: The following marking penalties will apply if you submit an assessment task after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked. You will receive 0% for the task. 'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date. • Extensions: Extensions can be granted for unexpected circumstances such as serious illness or for compassionate reasons under special circumstances. Extensions can only be approved by the Unit Chair (Marc Olynyk). Please email your request to (
[email protected]) before the due date. You will be asked to provide evidence to support your request and a draft of the work completed to date. Do not seek an extension after the due date. For requests after the due date please submit your request to Special Consideration: https://www.deakin.edu.au/students/studying/assessment-and-results/special- consideration Work or holidays or other assignments are NOT grounds for an extension – you are expected to manage these issues as part of your studies. You are strongly encouraged to start early and to continually backup your assignment as you progress. Computer crashes or corrupted files will NOT be accepted as valid reasons for an extension of any length. • For more information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next to the Unit Guide of the Resources area in the CloudDeakin unit site. mailto:
[email protected] https://www.deakin.edu.au/students/studying/assessment-and-results/special-consideration https://www.deakin.edu.au/students/studying/assessment-and-results/special-consideration https://www.deakin.edu.au/students/studying/assessment-and-results/special-consideration T3 2020 MAA 317 Superannuation 3 3 • Building evidence of your experiences, skills and knowledge (Portfolio) - Building a portfolio that evidences your skills, knowledge and experience will provide you with a valuable tool to help you prepare for interviews and to showcase to potential employers. There are a number of tools that you can use to build a portfolio. You are provided with cloud space through OneDrive, or through the Portfolio tool in the Cloud Unit Site, but you can use any storage repository system that you like. Remember that a Portfolio is YOUR tool. You should be able to store your assessment work, reflections, achievements and artefacts in YOUR Portfolio. Once you have completed this assessment piece, add it to your personal Portfolio to use and showcase your learning later, when applying for jobs, or further studies. Curate your work by adding meaningful tags to your artefacts that describe what the artefact represents. T3 2020 MAA317 Superannuation Planning 4 Assignment Information You are to base this assignment on the facts of the case provided to you in Assignment 1 - Kelly and Kyle Kentia. Additional information provided on the client’s situation: • The client would like a retirement income projection detailing how long their accumulated superannuation is likely to last once they get to retirement based on their required retirement income as previously advised. This should be prepared using an excel spreadsheet and will replace the PMT calculation. • The couple has contacted you over the past few days to advise that since doing some further reading on preparing for retirement and the returns from different superannuation funds, they are now not sure whether their existing funds are the best for them. They are now willing to change to a different provider if you feel it appropriate. Your SOA should incorporate this. • The planners fees to be charged to the client consist of the following: o Preparation of the SOA – a flat fee of $4,000 o Ongoing fees – 1% p.a. of funds under management based on amounts held in the couple’s superannuation funds Required You are required to prepare a scaled Statement of Advice (SOA) for the client – Kelly and Kyle. The SOA is to be focussed on the client’s super position and super strategies as well as the goals they have specifically referred to. The client is not seeking advice on any other aspect of their financial position. To assist in the preparation of the SOA, you are to use information provided in assignment 1 and the information you generated in the Best Interest Duty Report template. You are required to provide a scaled/limited SOA that is compliant with various regulatory requirements. To assist you in this task, you have been provided with a SOA template that you should complete to construct your SOA. We have also provided you with other examples of SOA’s that you may wish to refer to including ASIC’s RG90 - Example Statement of Advice: Scaled advice for a new client. You are required to detail all assumptions made. The practice that you are working in uses XPLAN to generate its SOA’s and you are required to generate superannuation and retirement projections and super fund comparisons using the WealthSolver function within XPLAN. You are not required to use any other feature of XPLAN within this unit. You have previously been advised of your specific log-in details for XPLAN. (Maximum word limit is 2,000-3,000 words exclusive of SOA template information) T3 2020 MAA719 Superannuation and Retirement Planning 5 Assignment 2: Scaled / Limited Statement of Advice (SOA) o o Learning Outcome Details Submission instructions Notes