Elements and Performance Criteria
- Develop rapport with client
- Client's needs and objectives are addressed in a manner consistent with their level of financial understanding and which directly applies to the objectives and requirements they have disclosed
- High level active listening skills are demonstrated in dealings with client, including those with special needs
- Services, strategies and recommendations are introduced to the client orally and in writing in a clear and unambiguous way, avoiding jargon and in appropriate language
- Disclosure of capacity to client is consistent with industry requirements and organisation guidelines
- Present broking options to the client
- Client is guided through broking options and the impact of each option is clearly and comprehensively discussed with client including advantages, disadvantages, risks and financial implications, taking into account various assumptions or possibilities
- Fees, charges and commissions are clearly explained to the client and copies of the research and other documentation provided
- Any commercial relationship of the representative and their organisation to products and or services mentioned in the plan are disclosed
- Adviser identifies and addresses issues that in their professional judgement may require further consideration or consultation with other financial services professionals
- Confirmation is sought from client that they understand the broking options presented
- Negotiate effectively
- Client concerns, if any, are identified and responded to appropriately with alternatives to recommendations presented when requested
- Limits imposed by regulatory requirements or organisation guidelines are observed
- Restraint and control of feelings are exercised when dealing with conflict situations involving clients
- Communication channels are maintained when dealing with complaints and following complaint handling procedures
- Agreement to proceed is obtained from the client
- Complete and maintain necessary documentation
- Client interaction is recorded in accordance with the current industry documentation requirements
- Confirmation including relevant documentation and contract variation is provided to the client
- Instructing or purchasing documents where required are signed by the client
- Post broking service to be provided is clearly defined, and is communicated to the client
- Client records are created or updated