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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. Establish client’s personal and financial situation
   • Obtain from authorised representative all available information on client required to identify client’s situation according to organisational procedures and professional protocols
   • Identify and clarify with authorised representative client expectations, needs and objectives
   • Develop summary analysis of client’s financial position and determine their contact category based on extent of client disclosure
   • Determine if client requires execution or settlement-only action and do not offer or provide further advice
   • Update organisational system with required client information
2. Determine client’s financial position and risk profile
   • Review summary analysis and communicate with relevant stakeholders to confirm client’s financial position according to organisational procedures
   • Identify risk and fraud indicators and take required action according to organisational procedures
   • Record assessment of client’s financial position where required
3. Assess client preferences relating to financial investment products
   • Determine client investment needs and preferences with respect to financial product and service selection or portfolio
   • Clarify client requirements, expectations and concerns with authorised representative, and respond to identified concerns according to professional protocols
   • Obtain specialist advice where necessary or refer client to relevant personnel or organisation if required services cannot be provided by organisation
   • Analyse information provided by authorised representative and determine risk or reward and asset allocation strategies according to client and legislative requirements, organisational policies and procedures and industry codes of practice
   • Complete required client information, financial and personal histories and disclosure documentation according to organisational procedures
   • File completed documentation and information according to legislative and regulatory requirements, and organisational policies and procedures
   • Create or update organisation’s client records as required and according to organisational procedures

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

determine the financial requirements and expectations for financial investment products of at least three different clients.

In the course of the above, the candidate must:

establish an overview of each client’s personal and financial situation

determine each client’s risk profile.

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Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements and industry codes of practice relating to determining client financial requirements and expectations

organisational policies, procedures and protocols, including for:

determining client financial requirements, expectations and investment needs

recording and maintaining client-related information, including required formats and accessible locations

types of information used to determine clients’ financial situation and expectations

financial product sales techniques

risk and fraud indicators relating to client’s financial position

risk and reward principles in relation to financial products and services

techniques and tools for providing quality customer service.

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