Nobody downloaded yet

Financial Planning - Case Study Example

Comments (0) Cite this document
Summary
FINANCIAL PLANNING by course professor institution date Table of Contents Financial Planning 3 Question 1 a 3 Question 1 b 4 Question 1 c 6 References 8 Financial Planning Question 1 a The Financial Planning Association of Australia sets the code of ethics in financial planning and professional practice which sets the benchmark model for practice in the areas of financial planning in the community…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.8% of users find it useful
Financial Planning
Read TextPreview

Extract of sample "Financial Planning"

Download file to see previous pages The ethical standards also require the financial planners to get acknowledgement from their clients for deploying funds in the high risk investment avenues. In cases of conflict of interest, the financial planners are required to regard their professional duty of giving priority to the interest of their client. Finally, the high standards of practice require the financial planners to provide unbiased financial advises to their clients for protecting their interests. The financial planning done by the planners of the Commonwealth Bank of Australia falls under the FPA code of professional and ethical practice. However, the issues that led to the inquiry by the Senate against the scandal in the Commonwealth Bank’s financial planning activities exposed the activities of the financial planners of CBA. ...
ivities of CBA financial planners that came to light after the global financial crisis included misallocation of superannuation funds in the investment areas that is considered to be highly risky as a result of which the retired employees lost a major part of their superannuation fund. This is a specific example of CBA breaching the FPA code of conduct and ethics as the investments in high risks avenues was done by CBA without the consent of the retired employees and the clients. Apart from deploying funds into high risk management avenues without the prior permission of the holder, several associated issues related to forgery of signatures, and mysterious missing of documents came to light. Thus, the financial planners of CBA resorted to unethical practices which are against the professional norms. The Commonwealth Bank of Australia concealed that information from their clients who were not even informed of the activities of the financial planners. Question 1 b The financial planning scandal of the Commonwealth Bank of Australia demonstrated the conflict of interest between the clients of the bank and the activities of the financial planners of the Commonwealth Bank and the management. The financial planners under the management of the Bank were engaged into unethical professional practices of undertaking high risks on investments with the funds of the investors who were their clients. Although a logical reasoning by the financial planners would explain the investments were risky, they were engaged into unfair practices by taking a chance to increase the return of the bank with the help of public money (McKeown, 2012, p.39). The interest of CBA was to maximize the return on investment made by them with the use of public funds. The interest of the bank never ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Financial Planning Case Study Example | Topics and Well Written Essays - 1000 words”, n.d.)
Financial Planning Case Study Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/finance-accounting/1485328-financial-planning
(Financial Planning Case Study Example | Topics and Well Written Essays - 1000 Words)
Financial Planning Case Study Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/finance-accounting/1485328-financial-planning.
“Financial Planning Case Study Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/finance-accounting/1485328-financial-planning.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Financial Planning

Financial Planning

...?Financial Planning Table of Contents Table of Contents 2 Part One- 3 Part Two- 6 Reference 8 Bibliography 9 Part One In traditional financial forecasting the growth rate in sales is taken as the base for the growth of other items like expenses, assets and liabilities. Here the various expenses in the income statement and the assets & liabilities in the balance sheet are taken as a percentage of sales. These figures are forecasted to be as a percentage of sales in the recent financial statement. Alternatively these items can be computed as an average over the last few years or may depend on the discretion of the analyst. Under the traditional forecasting the fixed assets...
5 Pages(1250 words)Term Paper

Financial Planning

...? Final Paper - Financial PlanFinancial Planning An essential part of knowing what an investor would like to accomplish is identifying his/her present position. For this it is required to analyse the vital information and details of an investor, upon which the strategies for the financial planning for the investor would be based (Crumbley & Smith, 2002). This paper would formulate the financial planning of a client, Mr. James Patterson. The financial plan is based on the information that was obtained from Mr. James Patterson about him. The recognition of the present situation of Mr. Patterson is decisive...
5 Pages(1250 words)Research Paper

Financial planning

...? Financial planning Contents Contents 2 Financial planning: Needs and Issues of the client 3 Home and health planning 3 Educational Planning 3 Investment planning 4 Risk Management 4 Financial planner’s assistance to the client 4 Assistance: Home and Health needs 4 Assistance: Educational needs 5 Assistance: Investment needs 5 Assistance: Risk mitigation 5 Analysis of the Fact Finder document 6 Strength and weakness 7 References 9 Financial planning: Needs and Issues of the client The various needs and issues of the client that have been identified in the various areas...
6 Pages(1500 words)Essay

Financial Planning

...Order 181549 Financial Planning - Financial Services Guide & Skills requirement, Client Financial Fitness Assessment Dr. Zulfiquar Ahmed ID: 10131 Order#: 181549 Financial Planning - Financial Services Guide & Skills requirement, Client Financial Fitness Assessment Introduction Financial planning, the acquisition of funds to finance planned activities by the Financial Planner, is the practice of determining present and future financial goals. In Australia, it has risen dramatically over the last decade....
8 Pages(2000 words)Essay

Financial Planning and Control

...Introduction Engineering is the discipline that deals with the art or science of applying scientific knowledge to practical problems (Princeton). It has been instrumental in the development of inventions, arquitecture and innovation for centuries. The prehistoric beings called homosapians which live on earth at the beginning of time used engineering intuition to create fire and weapons to hunt their prey. This paper analyses the different aspects associated with an engineering business model placing emphasis in financial models. The major topics covered in the report are how the financial planning is applied to an engineering business, the effect of financial information on decision making, and how other the use of other financial... ...
4 Pages(1000 words)Essay

How to Make Right Business Decisions for Senior Managers

3 Pages(750 words)Assignment

Financial Planning

...Finance and Accounting Financial Planning Question The net worth from the net worth ment for Mary and Shawn together is $ 874,689. This is calculated as shown in the attached statement. Question 2 The monthly cash flow surplus/deficit for Mary and Shawn together monthly is $71,707. . This is calculated as shown in the attached statement. Question 3 TDS = 40%= X= 12992.70 Per month = 12992.70 Per year = 12992.70 *12 = $155,912.40 The maximum monthly mortgage is $ 155,912.40 per month based on the interest rate of 4% and TDS ratio of 40% and amortization period of 25 years. Question 4 Down Payment = 5% percent of the amount of mortgage = × 50000 =$ 2500 The 5% down payment for the $50000 amount...
1 Pages(250 words)Essay

Financial planning

.... Largely, the advise should be tailored towards addressing the business needs. 4. This strategy would change image of the business and consumer brand promise. The design of products tends to influence the image of the company in the eyes of the consumers. Improving the company’s products with respect to clients needs is one the mechanism of growing the business. Similarly, this company would significantly change its appeal to the consumers because it has changed the brand promise. Normally, the relevance of a service company depends on the quality of the products it offers with respect to clients’ interest. Question 2 1. The relationship between individual financial planning and life cycle theory is...
5 Pages(1250 words)Assignment

Financial planning

...Financial plans are extremely important for the success of a business. Companies must offer a good product or service at a reasonable price in order to entice customer to buy their products. The CEO of a firm must have a clear plan of where a company is headed to in the future. The use of pro forma financial statements can allow a manager the ability to project the financial results of the firm years into the future (Investopedia, 2015). A strategic plan is needed to allocate resources across the company in an optimal manner. The human capital of the firm is one of its most valuable assets. Planning requires cooperation...
1 Pages(250 words)Essay

Financial planning

... Financial Planning TEN YEAR LEVEL PLAN A ten year level term insurance is atype of insurance that offers a stable, assured premium in the first ten years. Following the increase of the premium in future, many people venture in the policy early (Kaye, 1989). This type of insurance is very cheap and hence profitable and most popular. This policy assures a stable rate for ten years duration in life. However, one is not hooked to the system until the end of the ten-year but is free to terminate the premium at any given time without penalty by terminating the premium payment ( Fedorowicz, 1977). By the 10th year, the rate increases profoundly but does not go beyond the first term policy (Kaye, 1989). Conversely, one can be renewed... can renew...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Financial Planning for FREE!

Contact Us