Long Title:Applied Financial Planning
Language of Instruction:English
Module Code:H8AFP
Credits: 5
NFQ Level:LEVEL 8
Field of Study: Finance, banking, insurance
Module Delivered in 2 programme(s)
Module Coordinator: JONATHAN BRITTAIN
Module editor: Philip Shanahan
Teaching and Learning Strategy: 7.6.6 Module Teaching and Learning Strategy Teaching and Learning will take place via • Lectures • Tutorials • Case studies • Class discussions In addition to imparting knowledge through lectures and directed learning, the teaching and learning strategy will focus on the application of this knowledge in a practical and applied manner by incorporating case studies and group discussion. The teaching and learning strategy will develop the learners understanding in the concept and benefits of holistic financial planning. Through the use of case studies and assessment learners will develop the ability to identify multiple needs and recommend products to meet such needs by applying their knowledge of the product base to compare and contrast the suitability of products for a range of financial needs.
Learning Environment: Learning will take place in a classroom environment that promotes active learning through lectures, reflection on topical issues and discussion. Learners will have access to library resources, both physical and electronic and to faculty outside of the classroom where required. Module materials will be placed on Moodle, the College’s virtual learning environment.
Module Description: To pull together the five financial need areas covered in previous modules and enable learners to determine appropriate solutions when a client has multiple needs Enable learners to undertake detailed holistic financial planning with clients and understand the appropriate actions to be taken when a client has limited budget with which to address multiple needs Formulate effective questions that should be asked in order to elicit valuable information from clients to aid in the financial planning process
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Demonstrate an in-depth understanding of holistic financial planning and be able to apply this understanding in a practical way
LO2 Assess a case study and determine appropriate recommendations, taking a clients full circumstances into account
LO3 Prioritise a client’s needs in situations where there are multiple needs but limited budget available
LO4 Critically assess a pre-prepared set of recommendations, taking into account a client’s needs, family and business circumstances, financial position and attitude to investment risk.
LO5 Develop a professional relationship with clients based on trust and credibility.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
20839 H8LR Law and Regulation
20840 H8LNS Loans
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed
 

Module Content & Assessment

Indicative Content
Holistic Financial Planning
• What is holistic financial planning • The financial planning cycle • The main financial needs • Hierarchy of needs
The Fact-find
• Sections of the fact-find • Why information is required • Consumer protection code and knowing your consumer
Making Recommendations
• Consumer protection code and suitability • Finding the most suitable product • Creating a statement of suitability for multiple recommendations • Presenting recommendations, skill and methodology
Communication Skills and Financial Planning
The role of the personal financial planner; effective questioning; listening; negotiation skills.
Estate Planning and Legal Considerations
Wills and succession; separation and divorce; transferring ownership of assets; holistic advice and estate planning; policy ownership
Quantifying financial needs
Calculating shortfalls in life assurance, retirement planning, and savings
Case Studies
Three case studies with varying needs.
Assessment Breakdown%
Coursework50.00%
End of Module Assessment50.00%
Special Regulation
Both assessments are conducted in an exam environment.

Full Time

Coursework
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Multiple Choice Questions 100 MCQ's based on knowledge gained throughout the PFP programme 1,2,3,4,5 50.00 n/a
End of Module Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Terminal Exam End-of-Semester Final Examination 1,2,3,4,5 50.00 End-of-Semester
No Workplace Assessment
Reassessment Requirement
Repeat failed items
The student must repeat any item failed
Reassessment Description
Student must resit any failed element of the two assessments

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

This module has no Full Time workload.
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Class based lecture 12 Per 15 week block 0.80
Tutorial Class based tutorial, working on case study type exercises 6 Per 15 week block 0.40
Assignment Research and completion of case study 47 Per 15 week block 3.13
Independent Learning Independent study and research 60 Per 15 week block 4.00
Total Hours 125.00
Total Weekly Learner Workload 8.33
Total Weekly Contact Hours 1.20
 

Module Resources

Recommended Book Resources
  • Chartered Insurance Institute (UK) 2011, Integrated Financial Planning, BPP Learning Media London
  • Barrett, M. 2008, Financial services advertising: Law and regulation, Clarus Press Ltd.
Supplementary Book Resources
  • BPP Learning Media 2011, Diploma in regulated financial planning R05 - Financial protection: Pass cards, 2010/11 tax year edn Ed., BPP Learning Media
  • BPP Learning Media, Financial protection: Study text, 2010/11 tax year edn Ed., BPP Learning Media
  • BPP Learning Media (2010), Regulations and ethics: UK financial services, Ingram Publisher
  • Harvey, N 2010, Effective communication, 3rd edn Ed., Gill & Macmillan Dublin
This module does not have any article/paper resources
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CPFP Certificate in Personal Financial Planning 1 Core Subject
DPFP Diploma in Personal Financial Planning 1 Core Subject