FSC521 The Financial Services Industry Level 5 Assignment Sample

This is the assignment sample of FSC521 The Financial Services Industry Level 5.

This online financial services course is designed for those who want to work in or enter the finance industry. It will give you a good understanding of New Zealand’s economic environment and how it relates to the banking, insurance, investments, superannuation industries as well as non-financial companies that offer these types of products and services.

You’ll also get an overview on what’s needed if you’re looking into specific roles like sales representatives or investment managers with various firms available throughout NZ such as ANZ Bank Group Ltd., Westpac Banking Corporation Limited etc.

Assignment Solutions of FSC521 The Financial Services Industry Level 5.

Assignment Activity 1. Recognise appropriate products/services, financial institutions, systems, markets and economic factors that influence financial advice.

There are many factors that influence people’s choices of financial institutions or advice providers. Some people work with independent advisors because they don’t want to have their employer pick the advisor, while others want advisors who already know where to purchase various products in order to save money.

Working with advisors who don’t charge commissions could be better for some investors because they won’t have expenses taken out without understanding them first, and no-commission advisors typically do not work on commission themselves so there is no risk from double commission charges required by most other advisory platforms.

Finally, some financial goals may require working with higher-cost products simply due to the advantages associated with those investments–so people need to determine what their goals are before choosing which platform best suits their needs.

The Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and various state agencies require that financial advisers working with retirement investors acting in a fiduciary capacity, must act in the best interest of their clients at all times.

Assignment Activity 2. Evaluate the suitability of common products/services to meet client needs.

When evaluating the suitability of a product or service to meet client needs, it is imperative to take into consideration all the various facets of that client. This includes their environment, their present lifestyle, and their individual preferences which will vary from person to person.

For instance, some clients may be particular with where they get their coffee while others enjoy making it at home; there is not one “best” answer for everyone because what suits someone else may not suit someone else’s life style preference.

We cannot know how well we are meeting our clients need without considering those many aspects because they differ from person to person and should thus be evaluated individually as opposed to in an all-encompassing approach. Evaluating the suitability of a service or product is to be done along a continuum ranging from very low to very high with the best possible choice falling somewhere in the center.

Assignment Activity 3. Describe financial markets and systems, including the specific roles of key market participants.

Finance is the process whereby money, or currency (money in the form of coins and bills) is exchanged for assets. It can be defined as asset management, including processes such as investment banking, securities trading, liquidity management and capital market operations.

Market participants are those who use financial markets to buy or sell investments at a specific price they’re willing to pay. Different kinds of market participants exist depending on which side of a transaction you’re buying from or selling to: Most people on this one side are called investors; most people on that other side are called speculators.

Investors buy an asset because they believe its price will rise in value over time – so even if it doesn’t go up immediately when they buy it, it might later. Speculators buy an asset because they believe its price will fall in value over time – so even if it doesn’t go down immediately when they buy it, it might later.

Assignment Activity 4. Analyse how key factors in the economic environment impact participants in the financial services sector.

There are several factors that can impact participants in the financial services sector. Economic uncertainty is a key uncertainty that inhibits investment, as people become uncertain about what will happen to their savings and investments and how much they’ll be able to afford for retirement or future education loans for their children each period.

Globalization is steadily impacting the way in which we do business in America, especially with regard to manufacturing jobs since these have been outsourced to other countries at higher rates than ever before.

Technological advances are also having an increasingly strong effect on all areas of our lives, including banking and investments; people need access to high quality technology so that they can keep up-to-date with current affairs while maintaining productivity goals.

It’s important for banks to continue providing services that their customers want, which requires the top management of financial establishments to be detail oriented and understand their customer’s needs.

Because of the competitive nature of the banking industry in America, one must become an expert at analyzing information provided by consumers regarding how they feel about a particular product or service offered.

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