Elements and Performance Criteria
- Establish relationship with client and identify client’s objectives, needs and financial situation
- Establish client’s knowledge about financial products and services
- Respond to enquiries about securities products and services by explaining range of products and services available and their relevant fee and charging methodology
- 1.3 Inform client about role of adviser and licensee or principal responsible for adviser's conduct, including procedures for complaints handling and circumstances in which they should be engaged
- Ask client about objectives and goals, and obtain personal, financial and business details to identify client needs
- Establish product risk profile of client, including expectations of cash flow and relevant taxation obligations
- Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions
- Undertake assessment of client needs using all information gathered, taking into account client’s product expectations and specific needs
- Consult client throughout analysis for further clarification where necessary
- Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice if required
- Assess and confirm product risk profile of client, demonstrating ASIC identified generic and specialist knowledge relevant to products being offered
- Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs
- Conduct relevant research, analysis and product modelling and draft appropriate solution, plan, policy or transaction for presentation to client
- Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction
- Apply appropriate knowledge for service or product offered when presenting product
- Clearly and unambiguously explain proposed transaction to client
- Reinforce all relevant details, terms and conditions of product and service
- Disclose impacts and possible risks of solution in clear and concise manner
- Provide supporting written documentation and guide client through key aspects of documentation
- Discuss and clarify any concerns or issues client has regarding proposed plan, policy or transaction
- Confirm that client understands proposed plan, policy or transaction
- Agree to plan, policy or transaction and complete documentation
- Obtain client’s formal agreement to proposed plan, policy or transaction
- Clearly explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing
- Ensure that proposal and all other statutory and transactional documents are completed and signed off by client
- Exchange copies of signed agreement and other appropriate documentation
- Provide ongoing service where requested by client
- Ensure that type and form of ongoing service, including reporting on performance and review of plan, policy or transaction, is agreed with client
- Clearly explain all fees and costs for ongoing and specifically defined services and check that client understands these details
- Provide ongoing service as required
- Establish relationship with client and identify client’s objectives, needs and financial situation
- Establish client’s knowledge about financial products and services
- Respond to enquiries about securities products and services by explaining range of products and services available and their relevant fee and charging methodology
- Inform client about role of adviser and licensee or principal responsible for adviser's conduct, including procedures for complaints handling and circumstances in which they should be engaged
- Ask client about objectives and goals, and obtain personal, financial and business details to identify client needs
- Establish product risk profile of client, including expectations of cash flow and relevant taxation obligations
- Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions
- Undertake assessment of client needs using all information gathered, taking into account client’s product expectations and specific needs
- Consult client throughout analysis for further clarification where necessary
- Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice if required
- Assess and confirm product risk profile of client, demonstrating ASIC identified generic and specialist knowledge relevant to products being offered
- Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs
- Conduct relevant research, analysis and product modelling and draft appropriate solution, plan, policy or transaction for presentation to client