Regulatory and Compliance Issues Assignment Example | Topics and Well Written Essays - 750 words

Regulatory and Compliance Issues - Assignment manakinThis might include insurance policies (Corporations Act 2001, Section 763C). Non-cash payments refers generally to alternatives to cash payments such as cheques, acknowledgment cards, debit cards, travellers cheques and so on (Corporations Act 2001, Section 763D). B. Plain English Definition A quetch English definition of pecuniary advice is guidance and recommendations from an individual who is qualified and knowledgeable about financial products, nation planning and asset protection. Financial advice is not only establish on knowledge, but also based on due diligence. In this regard financial advice is given after taken into account investment, savings, debt creation, debt counseling and so on that is compatible with the clients needfully and resources. C. Examples of Financial Products in Australia Examples of financial products obtainable in Australia include, managed investment portfolios, derivatives, securities, and foreign exchange agreements. Managed investment portfolios refer to a collection of investments made by and on behalf of the owner of financial assets. The idea is to invest those assets in particular undertakings with the expectation that the owner of the assets pass on acquire some returns. ... Securities ar documents that substitute for actual assets or interests in assets. Examples of securities are bonds, stocks, debentures and certificates such as share certificates. Foreign exchange agreements are contracts in which a party agrees to purchase foreign coin at a specified rate on a specific date. Question 2 The place of the Financial Planner The role of the financial planner in Australia is to evaluate the clients financial needs and his or her financial circumstances with a view to preparing and implementing a financial plan that realistically helps the client meet his or her financial needs. In this regard, financial planners in Australia provide a pastiche of services i ncluding retirement plans, income planning, superannuation, fund investments, the acquisition of shares, managing risks, managing or reducing debts, implementing savings plans, investing in futures and/or securities, filing taxes, insurance plans, business planning, estate planning and so on (Toten, 2006). Each of these services are tailored toward financial planning and/or asset protection depending on the clients needs and resources. For example, estate planning would involve the distribution of assets during the life time of the client with the expectation that the estate give not be subject to probate. In such a case, the client might be hash out to create a trust deed in which trustees manage the clients estate for the usefulness of the client and his or her children. An insurance plan will also involve financial planning as it would involve making interim payments toward an insurance policy that would insure the clients life or medical care and thus ensure that the client l eaves money to loved ones upon death or has rag to