Elements and Performance Criteria
- Develop rapport with clients
- Address client needs and objectives in a manner consistent with their level of financial understanding and which directly applies to objectives and requirements they have disclosed
- Demonstrate high level communication skills in dealings with clients, including those with special needs
- Introduce services, strategies and recommendations using clear and unambiguous language that avoids jargon in both oral and written communication
- Ensure disclosure of capacity to client is consistent with industry requirements and organisational guidelines
- Present broking options to clients
- Guide clients through broking options and clearly and comprehensively discuss the impact of each option including advantages, disadvantages, risks and financial implications, taking into account various assumptions or possibilities
- Clearly explain fees, charges and commissions to clients and provide copies of research and other documentation
- Disclose any commercial relationship of representative and their organisation to products and services mentioned in plan
- Identify and address issues, based on professional judgement, that may require further consideration or consultation with other financial services professionals
- Seek confirmation from clients that they understand broking options presented
- Negotiate effectively
- Identify and respond appropriately to any client concerns and present alternatives to recommendations when requested
- Observe limits imposed by regulatory requirements or organisational guidelines
- Maintain communication channels when dealing with complaints and follow complaint handling procedures
- Obtain agreement to proceed from clients
- Complete and maintain necessary documentation
- Record client interaction in accordance with industry requirements
- Provide confirmation including relevant documentation and contract variation to clients
- Ensure instructing or purchasing documents, where required, are signed by clients
- Clearly define post-broking service to be provided and communicate to clients