Ethics and Client Relationships
Duration
- One Semester or equivalent
Contact hours
- 36 hours
2020 teaching periods
Hawthorn
| Higher Ed. Semester 2 | ||
|---|---|---|
Dates: Results: Last self enrolment: Census: |
Swinburne Online
| Teaching Period 2 | ||
|---|---|---|
Dates: Results: Last self enrolment: Census: |
Prerequisites
FIN10003 Principles of Financial PlanningCorequisites
NilAims and objectives
This unit facilitates students’ sound understanding of the fundamental ethical principles, the main ethical issues encountered, and the ethical behaviour support resources available, in professional financial planning services practice. Students are introduced to the profession’s ethics regime, exposed to real-life ethical problems and dilemmas, and guided to develop solutions to anticipate and mitigate the consequences of (un)ethical choices and decisions in relevant professional contexts. In the second section of the unit, students learn about the skills and knowledge required for effective communication with clients in the financial planning process. Establishment of an ongoing client relationships based on trust, honesty, empathy, and technical expertise are among the other topics covered in this unit.
Students who successfully complete this unit will be able to:
1. Analyse complex situations that may lead to conflicts of interests in client-financial planner relationships.
2. Analyse and evaluate financial dilemmas and propose ethical solutions, demonstrating consideration of systemic consequences of decisions and actions.
3. Apply knowledge of fundamental aspects of client engagement psychology for effective communication in financial services contexts.
4. Understand individual and inter-personal behavioural patterns in an organisational context, to support positive relationships with clients and peers.
5. Work effectively in diverse teams.
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
Scheduled hours: Classes (12 x 3 hours) or blended delivery of equivalent contact.
Other Student workload: Other activities including independent study and assessment tasks for a total of approximately 150 hours
Online:
Synchronous Online Tutorials (12 x 2 hrs)
Other Student workload: Students are expected to spend 5 hrs per week in engagement online with learning activities and discussion boards; and other activities including independent study and assessment tasks for a total of approximately 150 hours
Assessment
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
- Teamwork
- Problem solving skills
- Analysis skills
- Communication skills
- Ability to tackle unfamiliar problems, and
- Ability to work independently
Content
- Key ethical principles and values of the FPSB and FPA codes of ethics and professional conduct, and the institutionalised ethics regime of the financial planning services industry
- Ethical issues and dilemmas in financial planning services
- Recognising and avoiding conflicts of interests
- The role of trustworthiness, honesty and integrity in professional conduct
- Resisting power pressure and giving voice to values
- Client relationships in financial planning services
- Effective communication skills
- Key concepts of interpersonal behaviour in organisations
- Empathy, trust and managing conflicts with clients
Study resources
- Reading materials.