Foundations of Financial Planning Assignment Client Engagement Strategies (DFP7_AS_v2) Student identification (student to complete) Please complete the fields shaded grey. Student number Assignment...

no referencing and the whole document should be written with own words


Foundations of Financial Planning Assignment Client Engagement Strategies (DFP7_AS_v2) Student identification (student to complete) Please complete the fields shaded grey. Student number Assignment result (assessor to complete) Result — first submission (Details for each activity are shown in the table below) Competent / Not Yet Competent Parts that must be resubmitted: Result — resubmission (if applicable) Competent / Not Yet Competent Result summary (assessor to complete) First submission Re-submission (if required) PART A Activity 1: Part 1 Demonstrated Demonstrated Activity 1: Part 2 Demonstrated Demonstrated Activity 2: Part 1 Demonstrated Demonstrated Activity 3: Part 1 Demonstrated Demonstrated PART B Activity 4: Part 1 Demonstrated Demonstrated Activity 4: Part 2 Demonstrated Demonstrated Activity 5: Part 1 Demonstrated Demonstrated Activity 5: Part 2 Demonstrated Demonstrated Activity 5: Part 3 Demonstrated Demonstrated Activity 5: Part 4 Demonstrated Demonstrated Activity 6: Part 1 Demonstrated Demonstrated Activity 7: Part 1 Demonstrated Demonstrated Activity 7: Part 2 Demonstrated Demonstrated Activity 8: Part 1 Demonstrated Demonstrated Activity 8: Part 2 Demonstrated Demonstrated Feedback (assessor to complete) [insert assessor feedback] Before you begin Read everything in this document before you start your assignment for Client Engagement Strategies (DFP7_AS_v2). About this document This document includes the following parts: •Section 1: Instructions for completing and submitting this assignment •Section 2: The assignment –Part A –Part B. How to use the study plan We recommend that you use the study plan for this subject to help you manage your time to complete the assignment within your enrolment period. Your study plan is in the KapLearn Client Engagement Strategies (DFP7v2) subject room. Section 1: Instructions for completing and submitting this assignment Completing the assignment Complete Section 2 (the assignment). Section 2 has two (2) parts and many activities listed below: •Part A (relates to Topics 1 and 2) –Activity 1: Part 1 & 2 –Activity 2: Part 1 –Activity 3: Part 1 •Part B (relates to Topics 3, 4 and 5) –Activity 4: Part 1 & 2 –Activity 5: Part 1, 2, 3 & 4 –Activity 6: Part 1 –Activity 7: Part 1 & 2 –Activity 8: Part 1 & 2 The information and resources that can assist you in answering the questions in this assignment can be primarily sourced from your topic notes. Some data may have to be externally sourced. You are required to show competence in each Activity in order to be competent overall. Word count The word count shown with each question is indicative only. You will not be penalised for exceeding the suggested word count. Please do not include additional information which is outside the scope of the question. Additional research You may be required to source additional information from other organisations in the financial services industry as part of your learning and to complete the assignment. Saving your work Download this document to your desktop, type your answers in the spaces provided and save your work regularly. •Use the template provided, as other formats will not be accepted for these assignments. •Name your file as follows: Studentnumber_SubjectCode_Submissionnumber (e.g. 12345678_DFP7_Submission1). •Include your student ID on the first page of the assignment. Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous. Submitting the assignment You must submit your completed assignment in a compatible Microsoft Word document. You need to save and submit this entire document. Do not remove any sections of the document. Do not save your completed assignment as a PDF. The assignment must be completed before submitting it to Kaplan Professional Education. Incomplete assignments will be returned to you unmarked. The maximum file size is 5MB. Once you submit your assignment for marking you will be unable to make any further changes to it. You are able to submit your assignment earlier than the deadline if you are confident you have completed all parts and have prepared a quality submission. The assignment marking process You have 12 weeks from your subject activation date to submit your completed assignment. If you reach the end of your initial enrolment period and are not yet competent in your assignment, an additional 4 weeks is granted, provided all assessment tasks for this subject have been attempted. Your assessor will mark your assignment and return it to you in the Client Engagement Strategies (DFP7v2) subject room in KapLearn under the ‘Assessment’ tab. Make a reasonable attempt You must demonstrate that you have made a reasonable attempt to answer all of the questions in your assignment. Failure to do so will mean that your assignment will not be accepted for marking; therefore you will not receive the benefit of feedback on your submission. If you do not meet these requirements, you will be notified. You will then have until your submission deadline to submit your completed assignment. How your assignment is graded Assignment tasks are used to determine your ‘competence’ in demonstrating the required knowledge and/or skills for each subject. As a result, you will be graded as either competent or not yet competent. Your assessor will follow the below process when marking your assignment: •Assess your responses to each question, and sub-parts if applicable, and then determine whether you have demonstrated competence in each question. •Determine if, on a holistic basis, your responses to the questions have demonstrated overall competence. ‘Not yet competent’ and resubmissions Should sections of your assignment be marked as ‘not yet competent’ you will be given an additional opportunity to amend your responses so that you can demonstrate your competency to the required level. You must address the assessor’s feedback in your amended responses. You only need amend those sections where the assessor has determined you are ‘not yet competent’. Make changes to your original submission. Use a different text colour for your resubmission. Your assessor will be in a better position to gauge the quality and nature of your changes. Ensure you leave your first assessor’s comments in your assignment, so your second assessor can see the instructions that were originally provided for you. Do not change any comments made by a Kaplan assessor. Units of competency This assignment is your opportunity to demonstrate your competency against these units: FNSCUS501 Develop and nurture relationships with clients, other professionals and third party referrers FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations FNSFPL601 Provide technical and professional guidance We are here to help If you have any questions about this assignment you can post your query at the ‘Ask your Tutor’ forum in your subject room. Before you submit your assignment If you have any queries about the assignment questions, please use the ‘Ask your Tutor’ forum in your subject room. You can expect an answer from your Tutor within 24 hours of posting your question. Remember, your online tutor cannot preview or check your assignment answers, or provide specific answer guidance. Please ensure that your questions are about clarification of the intent of an assignment question. After your assignment has been assessed If you have questions about your assessor’s feedback, please email: and include a copy of your assessed assignment. Never post your assignment answers or assessor comments in the ‘Ask Your Tutor’ forum. Section 2: The assignment (student to complete) Topic 1 Activity 1: Client service charter This question shows evidence of your ability to develop professional business relationships. Activity 1: Part 1 Based on the content and research findings presented in this topic, prepare a five-point client service charter setting out the commitments that you will make to your clients as their financial adviser. Examples of client service charters developed by other organisations are provided in your course notes. Note: Maximum word length is 500 words. Answer here Assessor feedback: Resubmission required? No Activity 1: Part 2 Prepare a scripted conversation of what you will say to your clients about the content and purpose of the charter and its value to them. Include the questions you will ask the client, and their responses as though you are transcribing the conversation. For example: Planner:“Here is our five point service charter. I would like to take a few moments to explain this to you if that’s ok?” Client:“Yes, that’s fine” Planner:“Our charter is based on….” etc. Note: Maximum word length is 200 words. Answer here Assessor feedback: Resubmission required? No Topic 2 Activity 2: Genos survey SMART goal This question shows evidence of your ability to develop professional business relationships. For this activity, you will use the results of the Genos survey to formulate a goal to improve one area you identified as being most beneficial to your business success. This part of the assignment is asking you to demonstrate your understanding of these Emotional aspects of YOUR life. Why not choose the weakest scored item from the survey to work on and use this for your answer? Goal identification is commonly referred to as ‘SMART’. This acronym can have a variety of meanings; for example, in Kaplan’s Financial Planning subject, SMART = Specific, Measurable, Achievable, Realistic, Timebound. As another example, the Genos survey that you complete in this subject identifies SMART as: Specific, Measurable, Actions, Result and Time. Although you may come across variations, the objective is the same. A sample plan has been provided below to guide you in completing this activity. Sample SMART plan to improve client meetings Specific Describe a specific developmental goal that you would like to achieve: •My goal is to improve my self-awareness in client meetings by being more aware of how I perform in meetings with them. •I have a tendency to go into too much technical detail with clients without picking up that they have ‘got-it’. Measurable Describe how you will measure the success of achieving this goal: •I will achieve a 15% improvement in my self-awareness score (using the Genos survey tool). •I will also receive a 10% increase in my positive feedback score from my customers regarding the effectiveness of my performance in meetings with them. •I will increase my conversion rate of first interview clients to SOA by 5%. Actions Describe the specific actions you will take to reach your goal: •I will pause more frequently during meetings and check that the clients understand me. •I will be more conscious of client emotions, such as through observing their tone of voice, facial expression and body language, and I will use this information to help adapt my behaviour. •I will ask clients for feedback via a questionnaire at the conclusion of meetings. Result Describe the benefits of achieving this goal: •My relationships with clients will improve. •Initial meetings with clients will be more effective. •I will achieve greater satisfaction from working with clients. Time Describe the timeframe and milestones for achieving this goal: •I will develop a questionnaire to use at my next meeting with clients (in one week’s time) and I will achieve my goal within three months. Activity 2: Part 1 Using the headings from the sample SMART plan above, create your own plan in the spaces provided below. Measures must be quantifiable, not just words like ‘increase’ or ‘improve’ and you will need to determine the actions you will have to take to reach that goal and