Assume you work for Mercia Ltd, a firm of financial advisers, specialising in personal financial planning. Ashley Cole has approached your team for advice.

Assessment Brief

*This document is for CU Group students for their own use in completing their assessed work for this module and should not be passed to third parties or posted on any website. Any infringements of this rule should be reported to engagement@coventry.ac.uk

Module Title: Financial Planning Practice

Module Code: 212BIR

 

 

Assessment Type:

Coursework

Assessment Number:

 2

Study Mode:

 FT

 

Weighting:

60%

Submission Date:

15/04/2022

Submission Time:

18:00

Campus:

CUC

 

 

 

 

 

Task: 

 

Scenario 

Assume you work for Mercia Ltd, a firm of financial advisers, specialising in personal financial planning. Ashley Cole has approached your team for advice.   

Ashley graduated 10 years ago from Aston University with BSc degree in law and now is working for a well-established law firm as a solicitor in London. 

The fact find resulting from his first appointment with you is reproduced in Appendix 2.   

The following notes were also made to supplement this information.  

  • He has recently become more interested in exchange-traded products (ETPs) that directly track a specific commodity index (oil, gold, currency etc.) and would like to know more about them.  
  • He would like to buy a house but the idea of paying so much interest to the lender over a long period has put her off. The house price in London is very expensive too. 
  • He also wants to find out about pension, what he should do about her long-term savings, although he is more pre-occupied with saving for the deposit of the house. 
  • He loves travelling and often takes a trip abroad once a year. He believes that he would need about £2000 per year to fund this. He hopes to be able to retire at 55 to travel around the world, but he is not sure whether he can afford it. 
  • Ashley is single and wants to be married before 40 years old.  

REQUIRED 

In the second appointment with your client, you will need to provide them with a report and recommendations. Before the meeting, it is normal to discuss findings with a senior colleague.   

You are therefore required to prepare a 1500 draft report in preparation for a meeting with the senior colleague. At this meeting, you will be asked to give a detailed analysis of the client’s financial circumstances, risk profile, objectives and to justify your recommendations. Your report to your senior colleague, based on relevant software, should cover the following areas: 

  • Suitability report and risk profiling (200 words) (Marks=20) 
  • Income and expenditure analysis (200 words) (Marks=20) 
  • Life time cash flows, Scenario Analysis and Recommendations:  (Marks=40) 

o Emergency fund and financial protections (200 words)  

o Pensions (occupational pension & state pension) (200 words)  

o Buying a house – recommendations on affordability, mortgage, long term investment value (200 words)  

o Early retirement at the age of 55 (200 words) 

Conclusion and suggested action plan for the client (300 words) (Marks=20) 

(Total Marks=100) 

Word count in each section is only for guidance, but the overall word count limit of 1500 (+/- 10%) must be observed. The 1500 words limit excludes references, tables, graphs, and appendices. 

Some key assumptions 

  • Long term Bank of England base rate average: 1% p.a. 
  • Long term annual inflation: 2.5% p.a. 
  • Mortgage lending 10-year fixed rate: 6.5% p.a. 
  • Long term bank deposit rate: 2.0% p.a. 
  • Salary increase: 2.5% p.a. 
  • Average property price increase: 3% p.a. 
  • Credit card interest: 8.50% p.a. 
  • Unsecured loan: 8.50% p.a. 

APPENDIX 1 – Client Fact Find 

Personal Details 

Name 

Ashley Cole

Date of birth 

30th June 1990 

Marital status 

Single  

General health 

Good 

Any health problems in family background? 

No 

Notes 

 

Occupational Details 

Employed/self employed 

Employed 

Occupation 

Solicitor 

Regular earned income (Gross) 

£80,000 

Review date 

September 

Bonus/overtime (gross) 

Typically 10% of salary 

Benefits in kind (e.g. car, medical insurance, etc.) 

None 

Profit related pay or share options? 

None 

Security/prospects 

Good 

Time in this job 

5 years 

Any other current source of earnings 

No 

Notes: Client is planning to quit the current job to open his own law firm in the next five years. He believes that his earning can be increased by 50% or above thanks to this business. 

 

Income & taxation 

 

Per month (£) 

Per year (£) 

Earned income (gross) 

 

£80,000 

Dividend income (net)* 

 

£1000* 

Premium bond income (net)** 

£62.50** 

 

Interest Received 

£200 

 

Note: *Estimate /**Average

Outgoings 

 

Per month (£) 

Per year (£) 

Food 

500 

 

Clothes 

300 

 

Miscellaneous 

 

2,500 

Car loan repayment 

437 

 

Rent 

1000 

 

Council Tax 

 

1500 

Travel (fuel, insurance, tube fare etc.) 

400 

 

Socialising 

300 

 

Gifts, birthdays 

 

500 

Holidays 

 

2,000 

Utilities 

350 

 

Gym membership 

100 

 

Interest payment on HSBC credit card  

100 

 (estimate) 

Lloyds personal loan payment 

99 

 (estimate) 

Phones 

50 

 

Totals 

 

 

Assets 

Residence 

None 

Other property 

n/a 

Current account - HSBC 

£120,000 

Saving account - HSBC 

£2000 

Premium Bonds 

£50,000 (initial) + £750 (1 year’ gains reinvested) 

Life assurance 

See below 

ISA’s 

None 

Unit trusts 

None 

Car 

£60,000 

 

 

Liabilities 

Nature of Loan 

Type 

Payment 

Amount 

HSBC MasterCard 

Unsecured 

Interest only (13.5%) 

£8,850 

Lloyds personal loan 

Unsecured 

To be paid off in 4 years (8.50%) 

£12,500 

Car Loan 

Secured 

To be paid off in 5 years (10.50%) 

£20,550 

Are there any other outstanding liabilities, such as income tax or CGT liabilities? 

No 

Life Assurance Policies 

 

Policy 1 

Policy 2 

Insurance company 

Aviva 

 

Life insured 

Client 

 

Type 

Death in service 

 

Own life/life of another 

Own life 

 

Policy Held in Trust? 

No 

 

Year started 

2010 

 

Year of maturity 

On death 

 

Sum insured 

5 times salary 

 

Premium 

Paid by employer 

 

Frequency 

Yearly 

 

Special terms 

None 

 

Purpose 

Death in service 

 

Other Insurance Policies (PHI, Critical Illness, etc.) 

None  

Regular savings, other than life assurance policies 

Ashley has £10,000 saved in NatWest current account from an inheritance received.  

Occupational Pension Arrangements 

None – but company will match up to 6% of gross salary. 

State Pension 

Client has no details / has not thought about it.  

Estate Planning 

Will 

None 

Date made 

 

Is it up to date? 

 

Beneficiaries and details 

 

Any special provisions 

 

Executors 

 

Any planned changes 

 

Attitude to Risk 

To what extent are you prepared to accept investment risk? 

Client has indicated a confident approach to investment. 

Declaration 

All information will be treated in strict confidence. It will be used to prepare financial planning recommendations, but with no obligation to act on those recommendations.  

Signed 

Client 

Financial AdviserDate 

_____________________________________________________________________________________________________ 

 

 

 

This assignment represents 60% of the overall module marks. 

 

You may find it appropriate to use appendices. 

 

You are required to write a report, where the word count will be limited to 1500 words (+ / - 10%). Your tutors are not obliged to mark anything that exceeds these limits.  

 

Word count is exclusive of title page, contents page, executive summary, glossary of terms, diagrams, charts, calculations, appendices and reference lists 

 

Slides: 01-29 (All slides are relevant either directly or indirectly).  

 

Completion of this assignment will address the following learning outcomes: 

 

Analyse key data on clients to establish their overall financial position. 

 

Examine the impact of behavioural finance on formulating suitable financial plans. 

 

Discuss the key behavioural finance theories and how they impact on financial advice. 

 

Outline the implementation and review process and discuss the need for disclosure of fees and charges. 

Submission Guidelines

There should be a title page which clearly identifies the following:

* Name and code of the module

* Title of the Assessment

* Assessment number  

* Word count

The word count identified includes quotations and citations. However, it does exclude the list of references and/or the bibliography and, unless specifically stated, encompasses a discrepancy of + or – 10%.

Late Submission

If you are not able to complete your coursework on time due to extenuating circumstances*, the ONLY way to receive an extension (up to 5 working days) or a deferral (anything longer than 5 working days) is to contact engagement@coventry.ac.uk

Extenuating circumstances are defined by CU as ‘genuine circumstances beyond your control or ability to foresee, and which seriously impair your assessed work’. Please note that you will need to provide third party evidence to support your reasoning for requiring an extension or deferral. Your course tutor is NOT able to approve an extension or a deferral. If you have not completed the official forms and had your request approved, your work will count as not submitted and receive a zero mark

Guidance Notes and Considerations

Referencing

Year 2 

You should use APA 7th edition style of referencing.

Referencing guidance can be accessed on the Library’s LibGuides pages.

Use of Sources and Information:

You can access high quality, authoritative information via the library. Use LibGuides to access Locate, BibliU and research guidance.

Academic Writing Resources

There are a variety of academic writing resources available which can be accessed via LibGuides. These writing guides can help with different types of assessment as well as important writing skills needed for university.

Glossary of Assessment Terms for Assessment Writing – this is an a-z that covers the majority of terms used in assessment briefs, learning outcomes and feedback throughout the CU Group. If you would like any further support with your assessment, you can contact your Academic Writing Developer or visit the Academic Writing LibGuides page.

If you would like to book an Academic Writing appointment for support with your assessment, you can contact your Writing Developers:

CUC: learningservices.cuc@coventry.ac.uk

CUS: academicskills.cus@coventry.ac.uk

CUL Dagenham: academicwritingservice@cul.coventry.ac.uk

CUL Greenwich: awsgreenwich.cul@coventry.ac.uk

Academic Integrity Guidance

The best way to avoid academic misconduct is to follow appropriate academic and referencing conventions. Further guidance on academic integrity and conduct can be found using LibGuides.

Collusion between students (where sections of your work are similar to the work submitted by other students in this or previous module cohorts) is taken extremely seriously and will be reported to the Academic Conduct Panel. This applies to all coursework and exam answers. If you would like more guidance on understanding collusion, you can find it on LibGuides.

If an assessment suspected of involving a breach of academic integrity is found to display a marked difference in writing style, knowledge and skill level from that demonstrated elsewhere on the course, you may be required to undertake a Viva Voce in order to prove the coursework assessment is entirely your own work.

Proofreading of assessments by CU approved proofreaders is permitted. There is a list of approved proof readers along with guidelines for use. However, please remember that proofreading is a lengthy and detailed process for which there is a cost. If you decide to use a proofreader, please take this into account and contact them at least 10 days in advance of your assessment deadline. 

You must not submit work for an assessment that you have already submitted (partially or in full), either for your current course or for another qualification of this university, unless this is specifically provided for in your assessment brief or specific course or module information.

It is important to realise that as a student you should not submit all or part of an assessment for which you have already received academic credit, to be used for an assessment in a different module. Reusing your own work in this way is called self-plagiarism. Where you wish to refer to some of your own work you must reference it in the same way that you reference work by other people.

Criteria

90-100

1st

80-89

1st

70-79

1st

60-69

2:1

50-59

2:2

40-49

3rd

30-39

Fail

20-29

Fail

0-19

Fail

 

 

 

Knowledge and Understanding (30 %) 

 

 

 

The work demonstrates engagement in a focused academic argument which presents a range of evidence underpinning a deep understanding of all the issues studied and totally justified. The work demonstrates a high level of originality. There is evidence of a high level of synthesis of theoretical exemplar, underpinning principles, and practical interpretation.

No obvious mistakes in referencing or grammar.

The work shows engagement in an academic debate which provides clear evidence of a considered understanding of the professional issues studied, the method adopted, and the position adopted. The work enhances present theory and/or practice. There is evidence of a clear synthesis of theoretical issues and practice. A critical analysis of practical applications and/or theoretical models has resulted in a distinct level of originality. Very few errors in referencing or grammar.

There is evidence of analysis and critique of ideas, rival theories, and significant arguments together with evidence of synthesis. The work fully considers the context and the other external factors; it takes cognisance of different viewpoints and interpretations and recognises issues. Concepts are presented in a concise way and conclusions are well reasoned. The work shows the ability to critique the underlying assumptions upon which existing views are based and to challenge perceived opinion.

A few errors in referencing or grammar.

The work demonstrates a capacity to shows views based on sound argument and strong evidence in a concise and articulate way, and, where relevant, to put forward and make use of criteria for the judgement of theories and concerns. There is evidence of effective engagement relating to professional practice. Some small, repeated errors in referencing or grammar.

The structure and focus are evident and relevant to the assignment task. There is clear evidence of engagement with relevant issues. Key authors are clearly presented and there is evidence of suitable basic reading. The work explores and analyses concerns but is not strong on presenting, synthesis or evaluations.

Some repeated errors in referencing or grammar.

Whilst some of the attributes of a pass have been demonstrated, the work does not deal with each of the results for the defined assessment task. There might be little evidence of, and ability to apply the principles of the module to a broader context. The work is a detailed account showing only very little analysis, and minimal analysis, synthesis, or evaluation. No counterarguments or alternative frames of reference are generated or considered.

There is proof of sufficient grasp of the module`s learning outcomes. Some errors in referencing or grammar.

The work has failed to address the outcomes of the module. The work is mainly descriptive and shows little or no understanding of relevant theory.

There is insufficient evidence to suggest that the student will be able to retrieve the assignment without retaking the module.

Poor academic referencing or grammar.

This work shows little or no understanding of the relevant theory. Overall, the work is descriptive and presents only a superficial grasp of the relevant issues. Poor academic referencing or grammar.

This work is poor and not coherent. There is evidence of severe faults in referencing and grammar as appropriate. A clear evidence of unstructured and badly presented. The work lacks any attempt at analysis to address assignment brief or learning outcomes. Poor academic referencing or grammar.

 

Critical Analysis, Evaluation and Application of Theory (30%) 

 

 

 

 

 

The work demonstrates engagement in a focused academic argument which presents a range of evidence underpinning a deep understanding of all the issues studied and totally justified. The work demonstrates a high level of originality. There is evidence of a high level of synthesis of theoretical exemplar, underpinning principles, and practical interpretation.

No obvious mistakes in referencing or grammar.

The work shows engagement in an academic debate which provides clear evidence of a considered understanding of the professional issues studied, the method adopted, and the position adopted. The work enhances present theory and/or practice. There is evidence of a clear synthesis of theoretical issues and practice. A critical analysis of practical applications and/or theoretical models has resulted in a distinct level of originality. Very few errors in referencing or grammar.

There is evidence of analysis and critique of ideas, rival theories, and significant arguments together with evidence of synthesis. The work fully considers the context and the other external factors; it takes cognisance of different viewpoints and interpretations and recognises issues. Concepts are presented in a concise way and conclusions are well reasoned. The work shows the ability to critique the underlying assumptions upon which existing views are based and to challenge perceived opinion.

A few errors in referencing or grammar.

The work demonstrates a capacity to shows views based on sound argument and strong evidence in a concise and articulate way, and, where relevant, to put forward and make use of criteria for the judgement of theories and concerns. There is evidence of effective engagement relating to professional practice. Some small, repeated errors in referencing or grammar.

The structure and focus are evident and relevant to the assignment task. There is clear evidence of engagement with relevant issues. Key authors are clearly presented and there is evidence of suitable basic reading. The work explores and analyses concerns but is not strong on presenting, synthesis or evaluations.

Some repeated errors in referencing or grammar.

Whilst some of the attributes of a pass have been demonstrated, the work does not deal with each of the results for the defined assessment task. There might be little evidence of, and ability to apply the principles of the module to a broader context. The work is a detailed account showing only very little analysis, and minimal analysis, synthesis, or evaluation. No counterarguments or alternative frames of reference are generated or considered.

There is proof of sufficient grasp of the module`s learning outcomes. Some errors in referencing or grammar.

The work has failed to address the outcomes of the module. The work is mainly descriptive and shows little or no understanding of relevant theory.

There is insufficient evidence to suggest that the student will be able to retrieve the assignment without retaking the module.

Poor academic referencing or grammar.

This work shows little or no understanding of the relevant theory. Overall, the work is descriptive and presents only a superficial grasp of the relevant issues. Poor academic referencing or grammar.

This work is poor and not coherent. There is evidence of severe faults in referencing and grammar as appropriate. A clear evidence of unstructured and badly presented. The work lacks any attempt at analysis to address assignment brief or learning outcomes. Poor academic referencing or grammar.

 

Quality of Research (20%)           

 

 

 

 

 

The work demonstrates engagement in a focused academic argument which presents a range of evidence underpinning a deep understanding of all the issues studied and totally justified. The work demonstrates a high level of originality. There is evidence of a high level of synthesis of theoretical exemplar, underpinning principles, and practical interpretation.

No obvious mistakes in referencing or grammar.

The work shows engagement in an academic debate which provides clear evidence of a considered understanding of the professional issues studied, the method adopted, and the position adopted. The work enhances present theory and/or practice. There is evidence of a clear synthesis of theoretical issues and practice. A critical analysis of practical applications and/or theoretical models has resulted in a distinct level of originality. Very few errors in referencing or grammar.

There is evidence of analysis and critique of ideas, rival theories, and significant arguments together with evidence of synthesis. The work fully considers the context and the other external factors; it takes cognisance of different viewpoints and interpretations and recognises issues. Concepts are presented in a concise way and conclusions are well reasoned. The work shows the ability to critique the underlying assumptions upon which existing views are based and to challenge perceived opinion.

A few errors in referencing or grammar.

The work demonstrates a capacity to shows views based on sound argument and strong evidence in a concise and articulate way, and, where relevant, to put forward and make use of criteria for the judgement of theories and concerns. There is evidence of effective engagement relating to professional practice. Some small, repeated errors in referencing or grammar.

The structure and focus are evident and relevant to the assignment task. There is clear evidence of engagement with relevant issues. Key authors are clearly presented and there is evidence of suitable basic reading. The work explores and analyses concerns but is not strong on presenting, synthesis or evaluations.

Some repeated errors in referencing or grammar.

Whilst some of the attributes of a pass have been demonstrated, the work does not deal with each of the results for the defined assessment task. There might be little evidence of, and ability to apply the principles of the module to a broader context. The work is a detailed account showing only very little analysis, and minimal analysis, synthesis, or evaluation. No counterarguments or alternative frames of reference are generated or considered.

There is proof of sufficient grasp of the module`s learning outcomes. Some errors in referencing or grammar.

The work has failed to address the outcomes of the module. The work is mainly descriptive and shows little or no understanding of relevant theory.

There is insufficient evidence to suggest that the student will be able to retrieve the assignment without retaking the module.

Poor academic referencing or grammar.

This work shows little or no understanding of the relevant theory. Overall, the work is descriptive and presents only a superficial grasp of the relevant issues. Poor academic referencing or grammar.

This work is poor and not coherent. There is evidence of severe faults in referencing and grammar as appropriate. A clear evidence of unstructured and badly presented. The work lacks any attempt at analysis to address assignment brief or learning outcomes. Poor academic referencing or grammar.

Academic Writing (20%)

 

 

 

 

 

 

The work demonstrates engagement in a focused academic argument which presents a range of evidence underpinning a deep understanding of all the issues studied and totally justified. The work demonstrates a high level of originality. There is evidence of a high level of synthesis of theoretical exemplar, underpinning principles, and practical interpretation.

No obvious mistakes in referencing or grammar.

The work shows engagement in an academic debate which provides clear evidence of a considered understanding of the professional issues studied, the method adopted, and the position adopted. The work enhances present theory and/or practice. There is evidence of a clear synthesis of theoretical issues and practice. A critical analysis of practical applications and/or theoretical models has resulted in a distinct level of originality. Very few errors in referencing or grammar.

There is evidence of analysis and critique of ideas, rival theories, and significant arguments together with evidence of synthesis. The work fully considers the context and the other external factors; it takes cognisance of different viewpoints and interpretations and recognises issues. Concepts are presented in a concise way and conclusions are well reasoned. The work shows the ability to critique the underlying assumptions upon which existing views are based and to challenge perceived opinion.

A few errors in referencing or grammar.

The work demonstrates a capacity to shows views based on sound argument and strong evidence in a concise and articulate way, and, where relevant, to put forward and make use of criteria for the judgement of theories and concerns. There is evidence of effective engagement relating to professional practice. Some small, repeated errors in referencing or grammar.

The structure and focus are evident and relevant to the assignment task. There is clear evidence of engagement with relevant issues. Key authors are clearly presented and there is evidence of suitable basic reading. The work explores and analyses concerns but is not strong on presenting, synthesis or evaluations.

Some repeated errors in referencing or grammar.

Whilst some of the attributes of a pass have been demonstrated, the work does not deal with each of the results for the defined assessment task. There might be little evidence of, and ability to apply the principles of the module to a broader context. The work is a detailed account showing only very little analysis, and minimal analysis, synthesis, or evaluation. No counterarguments or alternative frames of reference are generated or considered.

There is proof of sufficient grasp of the module`s learning outcomes. Some errors in referencing or grammar.

The work has failed to address the outcomes of the module. The work is mainly descriptive and shows little or no understanding of relevant theory.

There is insufficient evidence to suggest that the student will be able to retrieve the assignment without retaking the module.

Poor academic referencing or grammar.

This work shows little or no understanding of the relevant theory. Overall, the work is descriptive and presents only a superficial grasp of the relevant issues. Poor academic referencing or grammar.

This work is poor and not coherent. There is evidence of severe faults in referencing and grammar as appropriate. A clear evidence of unstructured and badly presented. The work lacks any attempt at analysis to address assignment brief or learning outcomes. Poor academic referencing or grammar.

Criteria

90-100

1st

80-89

1st

70-79

1st

60-69

2:1

50-59

2:2

40-49

3rd

30-39

Fail

20-29

Fail

0-19

Fail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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