Elements and Performance Criteria
- Identify complex broking needs of client
- Special or complex features of a client's situation and objectives are discussed, reviewed and clarified
- Risk issues and tolerance are explored and discussed comprehensively and ethically with the client, including unusual risks or requirements, and interdependencies and implications
- Risks to the client or organisation are assessed for their impact according to company policy, guidelines and relevant legislation and further questioning and information gathering is engaged as required
- Research and consider complex broking solutions based on client needs
- Current client situation is analysed to determine opportunities and constraints
- Research into loan structures or options is conducted including those which are new or non-standard, if required
- Complex financial issues are considered in terms of economic, legislation, taxation, legal, insurance and other implications
- Possible loan structures or options, fees and charges are analysed, modelled, prioritised and measured against risk and inappropriate options are rejected
- Preliminary options are checked to ensure compliance with relevant Acts, legislation, regulatory and ethical guidelines and are assessed for their ability to successfully achieve the client objectives
- Select and gather appropriate options and information for client review
- Broking options for review with client are selected and explanatory material developed or obtained
- If appropriate, consequences and other issues relating to the broking strategy are considered including referrals to accountant, financial adviser or lawyer where required
- Recommendations on risk management strategies are developed and incorporated into materials for the client and description of anticipated fees and charges included
- Information on complaints resolution procedures (internal and external) is included in the client information
- Broking recommendations and loan structures that will be presented to client are documented according to organisation guidelines and procedures