Graded Unit 1 financial service: a case study of Standard Chartered and the Barclays, Exams of Finance

Download Graded Unit 1 financial service: a case study of Standard Chartered and the Barclays and more Exams Finance in PDF only on Docsity! Financial Services: Graded Unit 1 H0Y6 34 Financial Services Graded Unit 1 HND Award Candidate Name：XU Yimeng SCN:187165318 Tutor: ZHANG Li Due date: 14/05/2018 XU Yimeng Financial Services: Graded Unit 1 H0Y6 34 1.1 Introduction My career is a journalist on The Daily News which was a national daily newspaper in the United Kingdom and it was founded in 1846 by Charles Dickens. My job is to write for writing the financial advice column. And in order to finish my job well, I need to have a deep understanding about each financial products of bank in the England. The reader of this column are people who have a demand about financial matters. Meanwhile, our newspaper office great hope that readers can raise questions about their own financial matters such as the least sum of deposit, the proportion of AER (Annual Equivalent Rate) and the after sale service of financial products. Then, I would have an investigation and collecting related data about the financial problems which are concentrated by readers. Finally, I would report the results of abbreviation about these problems to The Daily News. The major aim of whole report is providing a detailed report to readers. In order to accomplish it better, I should know their post of work, attributes of work (past-time job or full-time job), the level of income condition (fixed or flowed), and the structure of personal expenditure (whether often appear increased project expenditure, and how about its frequency). There is no doubt that I hope my detailed report can help readers have a successful experience about finance management. Meanwhile, there are more people knowing our newspapers and choosing us to give them advise about money management. And the academic aim is understanding different financial company in England by learning different financial products. In this report, I would prepare the documentation during my investigation, and making a relevant timescale for the investigation, present the strategy and recourses that I used for carrying out the project. I also need to analyze potential barriers that might inhibit progress and steps. XU Yimeng Financial Services: Graded Unit 1 H0Y6 34 1.3 Strategy for carrying out report and project management The strategy primarily includes the choice of information and the arrangement of time (8 weeks). And the information mainly includes three types which are savings, investment and protection, and finding 23 companies’ customer service information. (During this time, I would accomplish the analysis and collection about the above information，and divide 8 weeks into 5 stages. First stage, I will carefully read this case. Second stage, I have an analysis about this case. Then, I will find some financial companies and having an understand about these companies from library. After that, I need to prepare an efficient detailed report to them. Finally, I will submit my report. When I do the second stage, I should identify the key factors from the case study and understand the key financial needs of Duncan and Elaine. Then, I would select providers and select two suitable financial products and services to them. Meanwhile, XU Yimeng Financial Services: Graded Unit 1 H0Y6 34 I need to have an analysis about these financial products. Finally, getting the degree of their satisfaction. For the third stage, it plays an important role in whole academic activities. During this stage, I will come into contact with various financial products from different companies and having a compare for these products. Only finishing these things, the better financial advice can be presented to readers. For the third stage, if I don’t have enough time to go to the library, I will find information from the Internet. It has a wider range about financial companies. And it is more convenient and I can faster acquire information. During the forth stage, I should discuss the pros and cons about the academic ways in the first project. And having an analysis of variance. Then, evaluating the effectiveness of the decision-making process and preparing the ways of solving financial problems. Finally, comparing the difference between plan project and case- analyzing project. The form of timescale activity refers to Appendix I. 1.4 Information gathering channels I use telephone surveys to understand the types of saving products provided by companies, such as Individual Savings Account, Current Account, and Instant Access Account. Understanding the financial needs of readers, such as whether they want to have a profit which is exceeding 1.75% by Internet survey and questionnaires. By the Internet, I can understand different financial companies, entering their official website and concentrating the profit of their financial products. For example, the Regular Savings Accounts from M&S and HSBC can get a profit with 6%. There is also having some financial advertisements put in the newspapers, so I can obtain some information from that. To illustrate, buying health insurance from ME expert limited can get a funeral cost on death which can be worth up to 700 pounds. Grasping the concentrated problems of readers in the process of money management is also XU Yimeng Financial Services: Graded Unit 1 H0Y6 34 important, so I will get this information by customer attitude survey and government for company statistics. For example, people prefer to have a one-year financial product which has a fixed profit such as Aldermore with a 2% profit. I plan to spend 5 days to use these ways to obtain information. I hope I can get the financial products’ risk index and their interset. It is vital for comparing the various financial products so that a suitable product can be advised for readers. Telephone surveys refer to Appendix 2 Questionnaires refer to Appendix 2 1.5 Identification of potential barriers Problem 1: Don’t go to the library to understand different financial companies. Reason: Don’t have enough time to go to the library and read large books. The way of solution: Understand companies and obtaining information by Internet. Problem 2: Don’t get accurate results from the questionnaires. Reason: Not use suitable word in the questions. The way of solution: When drafting the questionnaires, I can simulate the answer. Then, I should carefully read the answer and having an analysis about the results. After that, alters the mistakes in the question of questionnaires. Problem3: Some information about financial products are not reliable in the newspaper. Reason: The providers give enough advertisement fees and then the ads can be put in the newspaper. The way of solution: Entering providers’ official website and carefully reading the official introduction about a certain financial product. Then, paying attention on products’ risk and profit. And whether they have extra interest. XU Yimeng