MAA727 – Financial Planning Development Assessment
Context
The Financial Planning environment is an ever-changing landscape, not only in relation to
regulatory change and business models, but also from a wide range of other issues including
demographic shifts in the Australian population, lack of financial literacy and engagement, product
innovation, evolving communication, and the engagement preferences of clients. For financial
planners to succeed in this rapidly changing environment, they need to be aware of, and able to
respond to the changing needs, challenges, and requirements of their clients.
Assignment Details
Aged Care in Australia is a topic of importance and has courted controversy in recent years. The
Royal Commission into Aged Care was established in Oct 2018 and released its findings in March
2021. A total of 148 recommendations were made in the interests of protecting and enhancing the
safety, health, well-being, and quality of life of people receiving aged care. Interestingly, there was
very little in the recommendations when it came to guidance and clarity for those seeking advice on
aged care.
For this task, you are required to prepare a business report addressing how financial advisers are
increasingly needing to respond to the issue of clients (including children who hold power of
attorneys) seeking advice on aged care and integrating aged care advice into their practices and
ensuring that they are still seeking to act for and protect the best interests of their clients.
Required
Discuss the issues and highlight the role, responsibilities, opportunities, and challenges faced by
financial planning professionals and practices in embracing, mitigating, and responding to the issues
presented by Aged Care advice. Relevant research, reference, and comparison to an overseas
jurisdiction will enable and ensure a comprehensive report.
Structure of the report
You must submit your assignment in the format of a business report. That is, you must use the
following structure. The number of words in brackets is a rough guide to help you contain the
amount you write in each section.
1. Executive summary or abstract (125 words)
2. Introduction (125 words)
3. Body (1,100 words)
4. Conclusion (150 words)
5. References (only include what you have cited in your report. Use Harvard referencing.
The reference list is not counted in the word count)
General information
1. Please monitor CloudDeakin for any instructions/announcements related to the assignment.
2. This is an individual assignment.
3. Learning Outcome 5 is linked with GLO 4: Critical Thinking. This means your capacity to think
critically and communicating your thinking in writing will be assessed. Ensure you proofread
thoroughly before submission.
4. If you feel sub-headings will help the clarity in the body of your submission, feel free to use
them.
5. As with all university assignments, when you use others’ words and ideas you must
acknowledge them using Harvard referencing conventions. The reference list is not counted in
the word count.
6. NOTE: The submission Due Date is 8.00pm (AEST) Friday 26th April 2024.
7. The Dropbox will remain open for late submissions. A penalty of 5% of total marks per day will be
applied. Late submissions after 5 days will not be marked as per Faculty Policy.
8. Ensure you have named your document correctly (see below)
9. Submit/upload your assignment to the relevant Assignment Dropbox under the Assessments tab.
Learning Outcomes
This task allows you to demonstrate achievement towards Learning Outcome 5. The Learning Outcome
are aligned with specific Graduate Learning Outcomes – that is, the skills and knowledge graduates are
expected to have upon completion of their studies.
If you do not demonstrate achievement of the Unit Learning Outcomes, you will not be successful in
this unit. It is good practice to familiarise yourself with the Unit Learning Outcomes (ULOs) and the
Graduate Learning Outcomes (GLOs) as they provide guidance on the knowledge, understanding and
skills you’re expected to demonstrate through your assignment work. In this way they can be used to
guide your study.
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