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FPC007B Assignment Brief
- Topic: Client engagement skills – finance
- Document Type: Assignment Help
- Subject: Finance
- Number of Words: 2000+2500+Quizs
- Citation/Referencing Style: Harvard
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FPC007B Assignment 2
FPC007B Assignment 2 : Professional Development Plan
|Learning outcomes (LO) mapping||Marks|
|1. Critically evaluate the explanations of market and investor behaviour according to portfolio and prospect theories.||0|
|2. Extend the insights of behavioural finance to understand the nature of client relationships in the context of financial planning.||0|
|3. Compare and contrast the effects of emotionally intelligent behaviours and critical thinking behaviours on the outcomes of client engagements in a financial services company or licensee.||15|
|4. Critically examine the authenticity of communications from a financial adviser to a client with feedback from an assessment of communication styles.||15|
|5. Evaluate a range of heuristics, biases and decision errors made by financial adviser and clients in a context of financial services.||15|
|6. Build a professional development plan based on results and feedback from various sources.||10|
|Assignment presentation, structure and referencing||5|
Assignment presentation and referencing (5 marks)
You are required to research beyond the subject notes in answering the questions in this assignment. Reference and cite all your sources when quoting or using material from external sources. Include a reference list at the end of your assignment.
You are required to:
- Use appropriate presentation and format for your assignment
- Demonstrate independent research and analysis
- Demonstrate appropriate use of relevant references
- Follow the Harvard referencing style as recommended in the ‘Referencing and Citations Guide’ available from the ‘Learning Hub’ in KapLearn
- Include a reference list at the end of your assignment following the recommended referencing style
- Adhere with the assignment word limit.
Criteria-based Marking Guide for presentation and referencing
The Criteria-based Marking Guide provided at the end of each question is designed to assist students to understand what is expected of them in each question and to let them know how their performance will be judged. It provides advice about the criteria used in the marking of the question and what discriminates between an excellent, satisfactory and unsatisfactory answer.
Excellent (Mark range: 4–5 marks)
- Clear and appropriate assignment layout and structure
- Adheres to assignment and question word limits
- Clear evidence of independent research and analysis incorporated throughout assignment
- Appropriate use of referencing
- Accurate use of Harvard referencing style
- Comprehensive reference list provided at end of assignment
Satisfactory (Mark range: 2.5–3.5 marks)
- Adequate assignment layout and structure
- Adheres to assignment and question word limits
- Some evidence of independent research and analysis
- Appropriate use of referencing
- Use of Harvard referencing style
- Reference list provided at end of assignment
Unsatisfactory (Mark range: 0–2 marks)
- Poor assignment layout and/or structure
- Assignment is significantly under or over the word limit
- No demonstrated independent research or analysis
- No use of references
- Referencing does not use Harvard referencing style
- No or inadequate reference list provided at end of assignment
Question 1 Identifying competencies and gaps (55 marks | Word limit: 2,500 words)
Read the information provided in Topics 2–4, as well as the required readings and additional resources.
This assignment is designed to help you identify the competencies and behaviours that support ongoing client relationships during emotional periods of anxiety and anger. Assignment 1 should be used very briefly to set the context of Assignment 2.
Write your assignment with specific analyses of your competencies (e.g. strengths) and competency gaps (e.g. further learning) as indicated by the Genos emotional intelligence survey in Topic 2; the communication styles survey in Topic 3; and your observations of consumer behaviour in Topic 4.
You should discuss the following five (5) points at a minimum in your assignment.
- Recall that Assignment 1 required you to identify a key business problem, the context of which can be elaborated with concepts of behavioural finance. Based on the context, you are required to give brief examples (strengths and weaknesses) of the general level of emotional intelligence across a group you can observe (e.g. your work colleagues or the people you interviewed). Apply Daniel Goleman’s emotional intelligence competency framework, presented in Topic 2. The objective is to observe emotional intelligence behaviours in practice.
- Critically evaluate your emotional intelligence strengths and weaknesses relative to your observation group. Consider elements from your environment that impact on your strengths and weaknesses and how you can leverage off your strengths to take advantage of opportunities and overcome threats that impact your weaknesses. Apply your Genos emotional intelligence survey results. The objective is to identify opportunities where you can support your group and manage threats that you need to overcome as a group, and areas where you should rely on support from the group.
- Evaluate your communication style (e.g. each element within the communication style survey). Comment on the implications of your style and others’ possible perceptions of your authenticity.
- To gain a better understanding of prevalent biases in your workplace environment among clients and/or colleagues, administer three (3) copies each of the bias identification quiz and the BIT orientation quiz (yours and two (2) colleagues). Once the data collection has been completed, analyse the results and then provide practical explanations of causes and consequences of identified bias behaviours (from the bias identification quiz).Also, provide practical descriptions of the results from yourself and your colleagues (from the BIT orientation quiz results).
- Based on your own results from self-assessment and associated observations and conclusions of your analysis of your observation group, reflect on how these can be applied to a professional development plan for yourself and your business/colleagues. In terms of colleagues/business — you might consider a more strategic view which may include, but are not limited to, the client value proposition, financial outcomes, client outcomes, process outcomes and HR outcomes in developing objectives and action plan.
At a minimum for a pass grade, your assignment must adequately satisfy the learning outcomes defined for this assignment.
Marking Guidance for Question 1: Identifying competencies and gaps
The Marking Guidance provided at the end of the question is designed to assist students to understand what is expected of them in the question and to let them know how their performance will be judged.
|Observation of emotional intelligence in practice||Discussion of emotional intelligence as it affects workplace behavioural and effective engagement of clients and/or colleagues. You should:• evaluate your emotional intelligence, strengths and weaknesses• provide reasons given for assigning levels (high, medium or low) of emotional intelligence for clients and/or colleagues• elaborate the concepts in Goleman’s and Genos’s frameworks for explaining the nature (positive and negative) of engagements with other individuals• conclude with a professional development plan to build on emotional intelligence.||15|
|Self-evaluation of the communication styles inventory (CSI) results||Discussion of the human values and the relevance to authentic communication. You should:• provide a synthesis of generic human values, your personal values and others’ perception of your authenticity• elaborate with specific examples on how your CSI results on five (5)dimensions are consistent with your strengths and weaknesses in communication skills• conclude with a professional development plan to balance skills in your CSI communication profile.Note:You cannot repeat the concepts of emotional intelligence to successfully achieve this criterion.||15|
|Analysis of results that identify situation-specific examples of decision biases and correct definitions of bias types||Validation of prevalent biases in your workplace environment among clients and/or colleagues, including:• administration, data collection and analysis of three (3) copies each of the bias identification quiz and the BIT orientation quiz (yours and two (2) colleagues)• correct analysis of biases and practical explanations of causes and consequences of bias behaviours (from the bias identification quiz)• correct analysis and practical descriptions of segments in your workplace or results from colleagues (from the BIT orientation quiz results).||15|
|Development of a consolidated professional development plan||Development of time frames and competency-based plans for professional development, including:• emotional intelligence skills according to Genos (Topic 2)• communication skills according to the CSI (Topic 3)• self-awareness and self-check of biases and heuristics (Topic 1), and application of the bias identification quiz and BIT orientation quiz (Topic 4).||10|
|Presentation and Referencing||Presentation of written document to the standard expected of a student undertaking a master’s degree, including:• consistent use of the Harvard referencing style• sound report structure, sentence structure, grammar and spelling• an appropriate and correctly formatted reference list.||5|
Appendix 2: Bias identification quiz
Bias identification quiz
Appendix 1: BIT orientation quiz
FPC007B Assignment 2
- My main role in managing my money is:
A. To be the guardian of my wealth by not making risky investments.
B. Actively trading my account to accumulate wealth.
C. Doing research before investment decisions.
D. Listening to others for advice on managing money.
- When it comes to financial matters, I most agree with which statement?
A. Losing money is the worst possible outcome.
B. I should act quickly on opportunities to make money.
C. I need to be satisfied I have taken the time to understand an investment I plan to make, even if I miss opportunities by doing so.
D. I should not be in charge of overseeing my money.
- When deciding on an investment, I trust the advice of:
A. My own self-discipline.
B. My own instincts.
C. My own research.
D. Someone other than myself.
- When markets are going up, I am:
C. Calm and rational.
D. Glad I am following someone’s advice.
- In the financial realm, which word best describes you?
D. Advice taker.
- When it comes to following a plan to manage money, which best describes your thinking?
A. If following a plan will help safeguard my assets, I will do it.
B. Following a plan is not that important.
C. A plan is good, but investment decisions must include my thinking.
D. I tend to follow others’ advice; so if a plan is recommended to me I will follow it or I will just listen to others’ ideas.
- I feel most confident about my money when:
A. I can sleep at night knowing my assets are safely invested.
B. I am invested in assets that have high appreciation potential.
C. I make my own investment decisions or at least have input into the process.
D. I am invested in things that many others are invested in.
- When a friend suggests a ‘sure thing’ investment idea, my response normally is:
A. I typically avoid these types of ideas.
B. I love things like this and I can take action right away if needed.
C. I will do my own research and then decide what to do.
D. I will need to consult someone else before making a decision.
- Short-term fluctuations in my portfolio make me:
A. Panic, thinking about selling.
B. Sense opportunity, thinking about buying.
C. Feel in control, potentially doing nothing.
D. Want to call someone to see how my money is going.
- Imagine yourself at a sporting event. Which role are you most likely to play?
A. A defensive player.
B. An offensive player.
C. Strategist or coach.