Interpersonal Skills for Financial Planners FSP 202

Interpersonal Skills for Financial Planners FSP 202
Summer2022
Term Assignment
Weight:15% of final grade
Due:Wednesday July 13th 2022 11:59pm EST
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This term paper is an individual assignment where you will need to incorporate Interpersonal Skills covered in the course into the scenarios provided below. You are expected to submit original work and submissions will be subject to the school’s policies on Academic Integrity.
In this assignment, imagine that you are working at a Financial Services company as a Financial Planner. The duty of every Financial Planner (FP) is to educate and inform her/his clients. To this end, FPs must conduct client seminars, answer difficult questions and communicate complex material in a manner that clients can easily understand.Doing so helps build trust withclients and prospective clients.It’s also an effective means to inform and educate, build rapport, and learn what’s on clients’ minds.
Your role is todevelop a paper based on the Financial Planning/ Interpersonal Skills topics below.
The presentation (in MS Word format) must be complete and understandable as a standalone document. You may include visuals if you feel they support, and you refer to them in the answer you are providing.
The paper must include:
The course title and code, your name and student ID
The question title to separate each section of the paper
Double spaced. 11pt font
Important:Save the document in this format (Firstname_lastname_FSPTermpaper).
Example: Wiliam_Brant_FSPTermpaper. This way it makes it easier to review and grade.

  • Submit the presentation (as a Wordor.pdf) via the course submission portal.

Grading/ Rubric:
The paper accounts for 15% of your course grade and is scored out of 100.
The paper will be graded as follows:

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  • 80 points total (20 points per question).Content, including coherent flow of paper and the ability to communicate the content. Ensure you clearly illustratethe Interpersonal skills involved in each question and support it with references.
    • 12 points per question – Tying back to 3 interpersonal skills and why they are the most relevant ones to use in addressing this client question (4 points x 3 Interpersonal Skills)
    • 8 points per question – The content of the information and knowledge being shared to answer the client question. When you answer the question, including any visuals, it should make sense in a ‘real life’ client situation. If I feel that the answer is something that a Financial Planner could say or use with a client that will be great!
  • 10 points.Grammar and spelling are critical. It’s important you check this thoroughly.
  • 10 points.Sources and References.Using varied and respected sources. Include correct links to the articles.

Source Material:

  • Support your presentation materials by incorporating charts, graphs, and visuals, where appropriate.Ensure your research findings and information are drawn from reputable industry sources.Note:Wikipedia or Investopedia are NOT deemed reputable sources and I will take marks off if you use them.
  • When citing your sources, include the relevant source information and hyperlink at the end of the paper in a references section.

Length:
2500 words.That means about 600 words per question or about 1.5 pages double spaced and typed. Your paper should be about 6 pages plus visuals. Suggestion: papers less than 2500 words tend to lack the depth and information needed.
What I look for is content, insight and the ability to show me that you understood the communication skills and the topic and can communicate it in a logical manner.
Presentation Topic:

  • A Senior Financial Planner is delivering a virtual seminar, to which s/he has invited existing clients. Consider how the financial planner might employ their interpersonal skills to respond to some tough questions.
  1. A 65 year old client asks; “How will you communicate with us, to keep us updated on the markets, conduct our financial plan review, and so on; without in-person meetings?” Describe 3 communication methods they could use and the most relevant Interpersonal skills necessary to utilize for each method.
  2. An agitated 40 year old client asks; “I’ve read various articles about what to expect in the post-Pandemic world; there will be high inflation, housing prices will collapse, and taxes will rise significantly due to all the government debt we’ve incurred. What does this mean for my financial future? It sounds scary.” (Describe 3 points to help assure the client and the Interpersonal skills required to communicate
  3. A 30 year old client asks; “I’m hearing a lot about Bitcoin millionaires. So, why aren’t we investing in Bitcoin?” (Describe 3 reasons why or why not you would invest clients assets in Bitcoin and why clients feel they need this risky asset.
  4. A 45 year old client asks; “I can’t help but think that the Pandemic, like the Great Depression, will affect everyone’s approach to their finances. I’m especially concerned about my Millennial children’s financial future. How can I help them build a solid foundation?” Describe 3 strategies and how you would convince a client to utilize them.

IMPORTANT HINTS AND ADVICE:

  • Rise above the emotion and focus on financial planning principles that, when practiced with discipline, will help the client achieve their financial goals:
    • A thorough understanding of the client’s financial picture, values and goals
    • An up-to-date and regularly-reviewed financial plan which reflects a projection towards goals along with gap analysis and actions plans
    • Money invested in a suitable, diversified and well-managed portfolio which can reasonably be expected to deliver an average rate of return over a long time horizon that reflects the client’s investor profile and risk tolerance (and is the rate being used to project gap-to-goal analysis).
  • Reference the lecture decks to refresh your memory on various communication and emotional intelligence skills to employ for these client questions
  • If your answer is doing nothing more than diving deep on technical aspects of an investment product, the economy, the market, etc. you are likely neglecting the deeper meaning behind the question. It might be time to take a higher level look at what the client is expressing and to tie back to financial planning principles and good communication/emotional intelligence skills (ie. Does the client seem worried about whether they will be okay in the future? Do they seem to think they might not meet their goals unless they take a great deal of risk with their investments? What can you re-focus them on in terms of process that can be put in place to provide peace of mind about what their future looks like).

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