List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Interpret research requirements | 1.1 Review and quantify client information and objectives, and establish research topics 1.2 Check specifications of products and/or services to be researched with senior financial planner 1.3 Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations 1.4 Establish timeframes and prioritise requests to ensure available information is useable and justifiable |
2. Research financial products and strategies to set guidelines | 2.1 Ensure data extraction criteria are relevant to intended use and client requirements 2.2 Identify trends to provide meaningful information on strategies and product performance 2.3 Identify potential risk factors associated with researched strategies and products 2.4 Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making 2.5 Identify issues that require specialist and/or independent research or advice |
3. Summarise research information and contribute to recommendations | 3.1 Collate, prioritise and check information on financial strategies and products against research specification 3.2 Analyse research for completeness and assess for relevant implications of information 3.3 Prepare written performance, trend and risk analyses and check against research specification 3.4 Define and record any qualifications or issues for further research 3.5 Provide recommendations to financial planning process according to organisational procedures and guidelines |
Evidence of the of the ability to:
interpret research requirements and research financial products and strategies to set guidelines
summarise research information and contribute to recommendations.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
describe the key features of:
organisational policy, objectives and guidelines
financial industry code of practice requirements
relevant legislation and regulations
analyse and explain risks associated with specific financial products and services
outline the effect of taxation and social security systems and regulations on specified financial products
describe the role of independent analysts and the value of their recommendation
summarise the key needs of clients and referral processes to specialist personnel
describe the key theories of investment, portfolio management and management of investment and risk.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial planning field of work and include access to:
office equipment, technology, software and consumables
the internet.
Assessors must satisfy NVR/AQTF assessor requirements.