(FPC002B) - Ethics & Professionalism In Financial Advice - Ben Clark Finance Case Study - Accounting Assignment Help

Assignment Task

Instructions 

There are five (5) questions in this Analysis Task worth a total of 95 marks, and 5 marks for presentation and correct use of the Harvard referencing style (total: 100 marks). You should answer all questions 

The overall word limit for the Analysis Task is 1.500 words. Marks will only be awarded for answers up to the word limit (plus 10%) for each question. Any inaterial 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 à Analysis Task à Assessment Preparation Guide. Marks will be awarded for presentation and referencing. Follow the Harvard referencing style as recommended in Kaplan Australia: Harvard Referencing Guide located on the 'Referencing and Research page in the ‘Build Your Skills' hub in KapLearn. Refer to the Criteria-Based Marking Guide for guidelines on what is expected for each question. The Assessment Preparation Guide in KapLearn contains infornation about format and presentation, word limits, citations and referencing, collusion, plagiarism and other policies, useful resources, submitting your Analysis Task and accessing your results. Answers are to be in vour own words.

Reference and cite all your sources (within the text of your answer) when quoting or using material from extemal sources. Include a reference list at the end of your Analysis Task. For further information on referencing, refer to the 'Referencing and Research' page in the 'Build Your Skills hub in KapLearn. 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 Analysis Task will not be considered by the marker. Refer to the special consideration' section of the Assessment Policy on Kaplan's website for more inforination.

Learning outcomes (LO) mapping

1. Explain the role of ethical frameworks and professional standards within the financial planning profession.

2. Assess the impacts of cognitive, judgement and decision biases on financial advisers and their clients. 

Analysis Task presentation and referencing You are required to research beyond the subject notes in answering the questions in this Analysis Task. 

•  use appropriate presentation and format for your Analysis Task 
•  demonstrate independent research and analysis 
• demonstrate appropriate use of relevant references 
• follow the Harvard referencing style as recomiended in Kaplan Australia: Harvard Referencing Guide available from the 'Build Your Skills' hub in KapLearn 
• include a reference list at the end of your Analysis Task following the recommended referencing style.

Question 1  Explain the role of ethical frameworks and professional standards within the financial planning profession. LO2: Assess the impacis of cognitive judgement and decision biases on financial advisers and their clients. 

(a) Discuss an example of an ethical dilem?na that has arisen or could arise during the fact-finding process with a client, and explain how you resolved or could resolve it." 

(b) Discuss how a financial adviser's ethical decision making when dealing with a retail client could be adversely affected by confirmation bias. Provide at least three (3) examples to support your discussion. 

Question 2 is based on the case study below. LO1: Explain the role of ethical frameworks and professional standards within the financial planning profession. 102: Assess the impacts of cognitive judgement and decision biases on financial advisers and their clients, Volunteer firefighter, Scott (age 50). is a client of financial adviser Ben Clark. Scott runs his own signwriting business; however, his business premises were recently destroyed by the 2020 suinier bushfires. While serving his local coinmunity during the fires, Scott was unable to earn an income and, as a result, is now experiencing financial hardship. Since his business premises have been destroyed, Scott has decided to run his business from the garage of his family home, until the original business premises can be rebuilt.

Quite often Scott does small jobs for friends, who pay him .cash in the hand' and he has mentioned to Ben that he's going to hide the cash froin the tax office. Scott also mentioned he's planning to apply for government assistance, so reducing his income will also help him gain the maximum benefits. Scott has asked Ben to keep this information to himself and not to include the cash in his financial plan. "It's like a bonus, but not something I will be doing forever', said Scott. Ben is now feeling concerned as Scott has also asked him not to tell his accountant. While Ben is not comfortable with this, he agreed not to share this information with Scott's accountant or inclusum a small community, Ben also has a solid business relationship with Scott's accountant, including reciprocar arrangements for client referrals. 

Question 2 

(a) Provide your judgement and rationale as to whether the financial adviser's (Ben) conduct was ethical in his dealings with his client Scott. Support your answer with reference to the case study facts and ethical theory(s) or frameworks.

(b)Evaluate and explain, by reference to the case study facts and relevant legislation, if the financial adviser (Ben) acted in the best interests of the client (Scott).

This FPC002B - Accounting Assignment has been solved by our Accounting Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment Experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.