Ah, the Student Life for Me

I didn't manage to finish off all my assessment items for the DFS(FP) course prior to the start of the Uni semester, so I had to pay $75 for another two month "extension of time" (it appears that you can keep extending the "deadline" indefinitely, provided you pay a small admin fee -- don't you just love privatised, quasi-professional courses). However, I have just about finished off two of the four modules, so I should be able to complete the rest of the DFS(FP) before this current extension period ends. I also had to pay $75 for a new version of the Superannuation module, as the changes to the superannuation regulations last year (aka "Simpler Super") have made the existing course notes out of date. I don't mind paying to get the updated module on superannuation, as it's relevant to my role as trustee of my SMSF. It does make me wonder how "up to date" some RG146 qualified financial planners would be are if they qualified under the old course and don't do much "continuing education".

Meanwhile the "Autumn" semester at Charles Sturt University has begun. We're already in week four (I think -- it's hard to keep track when you're studying via distance education), and I have an assignment for this semester's BTeach (previously GradDipEd) subject "Reconceptualising Secondary Education" due next week. I also have an assignment for the Master of IT subject "Interface Useability" due the following week. I've started reading through the course notes, text books, and "readings" for both subjects, and I've started some preliminary research for the BTeach assignment. Hopefully I can complete most of the work on these two assignments during the four-day Easter long weekend. Last year I'd planned on completing my assignments during the Easter break and then came down with a bad bout of 'flu that kept me in bed the whole time!

These two assignments are quite fun, but there's a huge difference in the amount of time required to just "scrape through" and the amount of time that should really be spent on them.

Copyright Enough Wealth 2007

Buying Time to complete my Diploma of Financial Services

The four months period allowed for completing the coursework for the Diploma in Financial Services (Financial Planning) I enrolled in via ps146.com.au last June ends this week. As I'm only half-way through the second of the four subjects I decided to pay the extra $150 fee to obtain an "extension of time" of two more months to complete all the assessment items. I'll be busy filling our tax returns next weekend, and then I have to complete an assignment for the GradDipEd (Secondary)(Science) course I'm doing (due by mid November), so even with the extension I'll be fairly busy until the end of the year.

I'd like to then do the Advanced DFS course, but I'll be even more busy next year doing subjects for both the Master in IM course I'm enrolled in (I took a leave of absence this semester) and the GradDipEd. If I get the DFS assessment items completed before the end of December I may enrol in the Advanced DFS straight away so that I can work the assessment items during the two week vacation I have over the Christmas/New Year period (our work place shuts down for those two weeks, so everyone has to take annual leave during this time). If I get most of the advanced DFS course completed while on vacation I should be able to complete it before my uni semester starts at the end of February.

Copyright Enough Wealth 2007

Time to Knuckle Down and Study

After getting halfway through the second of the four Diploma of Financial Services (Financial Planning) subject by the start of last month, I haven't made any progress since. I'd fallen behind in my assignments for the Grad Dip of Education subjects I'm enrolled in this term, mostly due to having three different bouts of the 'flu this winter. I finally got the first assignment for one of the GradDipEd courses sent off two week ago (a bit overdue) and have decided to drop the other course for this term. The second (and final) assignment for the GradDipEd course isn't due for over a month, so I'll try to make some more progress on the remaining DFS(FP) subjects this week and finish them all off next weekend. If I don't get the four subject for the DFS(FP) completed by the end of this month I'd have to pay an extra $150 for a two month extension of time time to complete the course. Time to crack open the books ;)

Copyright Enough Wealth 2007

DFS(FP) Update 4

I checked through some of my email accounts yesterday and noticed that my assessment items for the DFS1 course had been marked and feedback emailed to me last Wednesday. The turnaround time for marking (3 business days) was very impressive. Three out of the twenty assessment items weren't quite right and will need to be ammended and resubmitted. That won't be any trouble as the feedback email explained what areas need to be improved and provides references to the relevant pages of the study guide to use as a reference.

Doing this course is a lot like the Certificate courses I've studied at TAFE (technical college) rather than the courses I've done at uni - everything you need to know to pass the course is provided in the printed course notes, and provided you work methodically through the course it's almost impossible to fail. Again like TAFE, doing the DFS(FP) course provides a sound foundation of the basics and the technical requirements (eg. rules and regulations), but, unlike a uni course, doesn't require much creative thinking or independent investigation to pass.

I've only completed the first one of the twenty assessment items for the DFS2 module (insurance) so far - I'd better get cracking on some more of it this weekend. My GradDip Ed course commenced last week and I don't want to fall behind in the readings for that course. Unlike the science and computing/math courses I've done in the past, the education course material isn't hard to comprehend and absorb, but does require a TON of reading. The assessment items are all essays, which means lots and lots of background reading and recording tons of quotes with referencing (in the approved "style").

Copyright Enough Wealth 2007

DFS(FP) Update 3

I finished off the last of the 20 assessment activities for the DFS1 course at work during lunchtime of Friday and mailed them off for marking. This first module "Financial Advice" is mostly about the regulatory requirements and contains a whole lot of templates for the Fact Finder used to get relevant information about clients who want personal financial advice, a Risk Analyse to give a rough gauge of ow risk tolerant a client is, and sample Statement of Advice and a letter acknowledging the client has received all the relevant information, notifications and warnings. It very briefly mentions aspects of financial planning that should be considered when developing a financial plan for a client, but doesn't go into much detail about the various strategies and how to select the most appropriate one. Someone who passes this course will know what they are supposed to be doing, and how to dot all the i's and cross all the t's when providing advice, but whether or not they know HOW to do it well will depend on natural ability, background, and knowledge of the various strategies that can be employed for clients in different circumstances.

I'll start working on the next module DFS2 "Insurance" next week - it's likely to be the most boring and the one I know least about. The final two modules "Superannuation" and "Investment" are likely to be mainly revision and shouldn't take very long to complete.

I want to get all the DFS(FP assessment items finished as soon as possible as my GradDip Education course starts again next week and I'll need to start working on the assignments for that by the end of next month.

Copyright Enough Wealth 2007

DFS(FP) Update 2

I'm quite enjoying the Diploma of Financial Services (Financial Planning) coursework from ps146.com. There are 80 assessment questions to complete within 4 months, so far I've done the first three. The subject matter in the first course is quite general, but serves to fill in any gaps in your knowledge, especially the finicky details like exactly what is the difference between general and personal advice, and how that translates into what obligations are restrictions apply.

The folder of course notes for the third subject (Superannuation) only arrived today - apparently the delay was due to updating the material to include the "Simpler Super" rule changes that came into effect on 1 July. It looks as if that is the most detailed of the subjects, as there are a lot of specific conditions that impact on how superannuation is taxed and when contributions and withdrawals are allowed. Since DW and I are trustees for our own SMSF this will be a useful subject.

Copyright Enough Wealth 2007

DFS(FP) Update 1

Three out of the four modules for the Diploma of Financial Services (Financial Planning) arrived by Australia Post parcel delivery today, which is pretty good service considering I only enrolled in the course online on Thursday. The modules look fairly interesting, and the assessment items seem fairly straight-forward. In the first few assessment items you only have to read through the material provided and regurgitate the material in your own words. You have to pass all the assessment items with a mark of "100%" (ie. get the answer correct), but if you stuff up the answer you get sent back some "feedback" on where you went wrong and can resubmit.

The one missing module is the one on Superannuation. I'm not sure if this parcel was just delayed and will arrive by post tomorrow, or if ps146.com is in the midst of revising the course due to the changes to superannuation regulations that apply from 1 July. I don't think that they revise and update the material too often, some of the "background reading" material is at least 18 months out of date. It can't be too long before it arrives as you are only allowed four months from date of enrollment to submit all the assessment items (although you can get a couple of months extension for an extra $150 fee).

Copyright Enough Wealth 2007