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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Develop awareness of clients’ situation
   • Obtain relevant facts and information courteously and professionally to determine clients’ situation prior to defining their expectations, requirements and objectives
   • Encourage clients to disclose relevant information to determine their personal and financial situation and special needs
   • Develop summary analysis of clients’ financial position and determine their contact category based on extent of client disclosure
   • Determine if clients require execution or settlement only action and, if that is the case, do not offer or provide further advice
2. Obtain relevant knowledge of clients’ financial position and risk profile
   • Ascertain client s’ financial position where relevant
   • Identify risk and fraud indicators accurately and consistently
3. Determine client expectations and requirements with respect to financial markets advice
   • Encourage clients to express and clarify their requirements, expectations and concerns, and respond promptly and appropriately to any identified concerns
   • Determine clients’ investment needs and preferences with respect to financial product selection or portfolio
   • Obtain specialist advice where necessary or refer clients to appropriate personnel or organisation if required services are not available or cannot be provided
   • Analyse all information and facts provided by clients and determine appropriate risk or reward and asset allocation strategies in accordance with client requirements, organisational policy and guidelines, and relevant legislation or industry codes of practice
4. Prepare and update necessary documentation
   • Complete all relevant client facts, financial and personal histories and disclosure documents, and file in accordance with organisational policy and guidelines and relevant legislation and regulatory requirements
   • Create or update client records where necessary, and file client documentation and information in a format and location readily accessible to other advisers
5. Develop awareness of clients’ situation
   • Obtain relevant facts and information courteously and professionally to determine clients’ situation prior to defining their expectations, requirements and objectives
   • Encourage clients to disclose relevant information to determine their personal and financial situation and special needs
   • Develop summary analysis of clients’ financial position and determine their contact category based on extent of client disclosure
   • Determine if clients require execution or settlement only action and, if that is the case, do not offer or provide further advice
6. Obtain relevant knowledge of clients’ financial position and risk profile
   • Ascertain client s’ financial position where relevant
   • Identify risk and fraud indicators accurately and consistently

Performance Evidence

Evidence of the ability to:

obtain comprehensive information about clients to establish an overview of their financial situation and analyse to determine risk profile

build rapport with clients to determine their expectations and requirements with respect to financial product or portfolio advice

accurately prepare documentation and update client records according to organisational procedures and legislative requirements.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

outline key requirements of relevant legislation and industry codes of practice relating to working with clients in financial services

describe the types of information used to determine the client’s financial situation and expectations

explain the principles of financial product sales techniques

explain key features of organisational policy and procedures for dealing with clients and recording information

describe the characteristics of quality client service techniques and tools.

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