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. Provide technical guidance to other staff in the practice | 1.1 Provide technical guidance and advice, appropriate to skill level and need, to other financial planners, trainee financial planners and para-planners to assist in development of financial plans 1.2 Provide technical advice and assistance to administrative and processing staff when required 1.3 Use specialists with appropriate advanced technical competency as point of reference when required 1.4 Recognise potential problems before they develop and take precautionary steps to prevent them 1.5 Model and communicate ethical behaviour requirements to staff and peers |
2. Provide technical and professional information to staff and peers | 2.1 Circulate information obtained by representatives that is relevant to staff and peers for development purposes 2.2 Provide opportunities to staff for feedback and queries on circulated information |
3. Act as practice reference for any special areas of expertise | 3.1 Establish staff briefings or training sessions in representative’s area of expertise 3.2 Develop and deliver skill development exercises for individual staff as required 3.3 Monitor market, product, legislative and regulatory changes in special areas of expertise for development purposes 3.4 Monitor and address practice information and skill requirements in special areas of expertise |
Evidence of the ability to:
provide technical and professional guidance to others within the organisation, including:
conducting briefings and training sessions
mentoring staff and facilitating opportunities to receive guidance or support in the preparation of financial plans
acting as a practice reference for special areas of expertise.
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:
explain the key features of the financial planning industry, including:
financial products
financial markets
investment characteristics
describe the key features and identify relevant issues relating to:
corporations and consumer legislation
government financial and superannuation policy
relevant financial legislation
social security legislative updates
industry codes of practice
discuss current industry trends, sources of information and industry activities
compare and contrast:
financial forecasting techniques
methods of presenting financial data
identify and assess available and appropriate professional development activities
identify and categorise:
relevant interdisciplinary contacts and industry expertise
sources of information on financial products and markets, state and territory charges and taxes
discuss approaches for effective mentoring and training within the workplace.
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.
Assessors must satisfy NVR/AQTF assessor requirements.