Client Engagement Skills

(FPC007)

Assignment 1
Total marks: 40 | Weight: 45%

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Marker feedback
Comment on overall performance:

For marker use only.

For office use only

Open-ended
Pervasive questions for
problem when research of Analyses of
engaging with problem event the
clients and Intervie interview Referencin
# identified consequences w responses g TOTAL
Max 10 10 5 10 5 40
Awarded 0

PersonalID_FPC007_AS_v4 2 © Kaplan Higher Education

 Assignment 1: Diagnosing a key problem (40 marks)

Instructions to students
• This assignment covers Topic 1 and accounts for 45% of your final grade.
• There is one (1) question in this assignment. You should answer all parts of the question.
• It is essential that you go beyond your subject material to research your answers.
• The overall word limit for the assignment is 2000 words. Marks will only be awarded for answers up
to the word limit (plus 10%) for each question. Any material written after this will not be counted
towards your mark for that question. Headings, quotes and references within the body of the answer are
included in the word count. Numerical tables, calculations, and reference lists are not included. For more
information on word counts and their rationale, go to Assessment  Assignment  General assessment
information.
• Marks are awarded for research effort and referencing.
• Refer to the Criteria-based Marking Guide for guidelines on what is expected for each question.
• The ‘General assessment information’ section in KapLearn contains information about format and
presentation, word limits, citations and referencing, collusion, plagiarism and other policies,
useful resources, submitting your assignment and accessing your results.
• Answers are to be in your own words. Reference and cite all your sources (within the text of your
answer) when quoting or using material from external sources. Include a reference list at the end of your
assignment. Refer to the ‘Referencing and Citations Guide’ available from the ‘Library and Resource
Centre’ in KapLearn for further information on referencing.
• Indicative weightings are noted beside each question. Use these weightings to assist you with your
allocation of time and resources. The weightings indicate the relative importance of each question.
• State all assumptions used in providing your answer.
• Requests for special consideration or information pertaining to special consideration written in the body
of the assignment will not be considered by the marker. Refer to the ‘special consideration’ section of
the Assessment Policy on Kaplan’s website for more information.

Learning outcomes (LO) mapping Marks

1. Critically evaluate the explanations of market and investor behaviour according to portfolio
15
and prospect theories.

For office use only

Open-ended
Pervasive questions for
problem when research of Analyses of
engaging with problem event the
clients and Intervie interview Referencin
# identified consequences w responses g TOTAL
Max 10 10 5 10 5 40
Awarded 0

PersonalID_FPC007_AS_v4 3 © Kaplan Higher Education

2. Extend the insights of behavioural finance to understand the nature of client relationships
20
in the context of financial planning.
3. Compare and contrast the effects of emotionally intelligent behaviours and critical thinking
0
behaviours on the outcomes of client engagements in a financial services company or
licensee.
4. Critically examine the authenticity of communications from a financial adviser to a client
0
with feedback from an assessment of communication styles.
5. Evaluate a range of heuristics, biases and decision errors made by financial adviser and
0
clients in a context of financial services.
6. Build a professional development plan based on results and feedback from various sources.
0
Total marks for content
35
Assignment presentation, structure and referencing
5

Total marks 40

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 ‘Library and Resource Centre’ in KapLearn
• include a reference list at the end of your assignment following the recommended referencing style
• adhere with the assignment word limit.

For office use only

Open-ended
Pervasive questions for
problem when research of Analyses of
engaging with problem event the
clients and Intervie interview Referencin
# identified consequences w responses g TOTAL
Max 10 10 5 10 5 40
Awarded 0

PersonalID_FPC007_AS_v4 4 © Kaplan Higher Education

Question 1 Diagnosing a key problem (35 marks | Word limit: 2000 words)
Read the information provided in Topic 1, as well as the required readings and additional resources.
This assignment is designed to help you identify a key business problem that can be elaborated using
concepts in behavioural finance. It is set out in two (2) parts.

Part 1 — The interview

Using the feedback provided to you from your tutor in the forum, finalise your chosen problem from Task 1.
Undertake two (2) interviews using the list of open-ended interview questions provided in ‘Appendix A’ to
help you research the problem events (e.g. causes) and problem consequences (e.g. effects).
Interview at least one (1) financial adviser and one (1) client service person (in a client-facing role) in a
financial planning environment for responses to the open-ended questions. If you are an adviser,
you may choose to answer your own questions for one of the required interviews, however, you must still
conduct a second interview on another colleague who is also an adviser or someone in a client-facing role.
Regardless of whether you are an experienced adviser or do not have any experience, it is important that
you have two (2) sets of interview questions completed and include those completed questionnaires as
appendices in your assignment.
‘Appendix A’ outlines the open-ended interview questions required for your two (2) interviews.
Include the interview responses to the questions as appendices to your own completed assignment.
The responses are not included in the 2000 word limit.
‘Appendix A’ also includes a reflection template. This is simply a tool to help you analyse and prepare for
part 2 of this assignment. You are not required to include this in your submission as the analysis you record
in the reflection will be included in part 2 of your assignment.
It is essential that you relate the issues identified to how your business/employer could facilitate a better
outcome for you and the client.
You should send the questions to the interviewee prior to the interview so they can prepare.
Note: If you do not have access to a financial adviser, please let your tutor know.

Part 2 — Critical analysis

Write a critical analysis with specific analyses of the interview responses. As a guide, the analyses should
discuss the following points:
• interviewees’ opinions regarding the similarities and differences in the problem event and consequences
that you identified
• the strengths and weaknesses of interview comments, basing your assessment directly on the concepts
of behavioural finance
• your reasoning that supports recommendations on how to better manage the problem. Specify why you
would accept, partially accept or reject your interviewees’ comments when you formulate your
recommendations.

For office use only

Open-ended
Pervasive questions for
problem when research of Analyses of
engaging with problem event the
clients and Intervie interview Referencin
# identified consequences w responses g TOTAL
Max 10 10 5 10 5 40
Awarded 0

PersonalID_FPC007_AS_v4 5 © Kaplan Higher Education

Ensure that you relate these experiences to the theories/concepts and ideas outlined in your literature
research and reference them accordingly. You must explain your opinions with concepts learned in Topic 1.
Include interview questions and answers in your appendices and cross reference them within your answer.
Refer to the marking criteria as a guide to how you should structure your analysis.

Criteria-based Marking Guide for Question 1: Diagnosing a key problem

At a minimum for a pass grade, your assignment must adequately satisfy the learning outcomes defined for
this assignment.
Criteria Sub-criteria Maximum marks

Pervasive Discussion of the context, including but not limited to: 10

problem • portfolio theory and prospect theory
when
• loss aversion
engaging
with clients • decision heuristics: representativeness, availability and
identified anchoring and adjustment
• disposition and cognitive biases
Open-ended As a guide, the analyses should discuss the following points: 10
questions • questions should explore the practical application of
for research behavioural finance that can be observed in the workplace
of problem
• there should be a description of situations and
event and
conversations that explain the company’s pervasive
consequenc
problem (e.g. causes)
es
• there should be a description of outcomes, results,
feelings, interpersonal reactions and opinions (e.g. effects)
Interview Completion of the interviews with comprehensive write-up 5
Analyses of Adequately explore key concepts in behavioural finance, including: 10
the • the survey/questionnaire or secondary data is reliable to
interview answer the research questions
responses
• the survey/questionnaire or secondary data is based on a
thorough review of the literature
Writing style Presentation of written document to the standard expected of a student 5
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

For office use only

Open-ended
Pervasive questions for
problem when research of Analyses of
engaging with problem event the
clients and Intervie interview Referencin
# identified consequences w responses g TOTAL
Max 10 10 5 10 5 40
Awarded 0

PersonalID_FPC007_AS_v4 6 © Kaplan Higher Education

Insert your answers to Question 1: Diagnosing a key problem below this line

End of answers to Question 1: Diagnosing a key problem

END OF ASSIGNMENT 1

For office use only

Open-ended
Pervasive questions for
problem when research of Analyses of
engaging with problem event the
clients and Intervie interview Referencin
# identified consequences w responses g TOTAL
Max 10 10 5 10 5 40
Awarded 0

PersonalID_FPC007_AS_v4 7 © Kaplan Higher Education