Required skills

welldeveloped communication skills to

determine and confirm client and work requirements using questioning and active listening as required

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

highly developed research skills such as

accessing and managing information

interpreting documentation

numeracy skills to accurately analyse record and store data in accordance with organisational requirements

welldeveloped literacy skills for analysing information and products to ensure appropriateness to client needs currency and accuracy

IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information

selfmanagement skills for complying with ethical legal and procedural requirements

learning skills to maintain knowledge of changes to compliance legislation and requirements

problem solving skills to identify any issues that have the potential to impact on the planning process or outcome and to develop options to resolve these issues when they arise

organisational and time management skills to sequence tasks meet timelines and arrange meetings

Required knowledge

appropriate financial industry sales and marketing techniques

current economic climate and outlook

financial product service terms and conditions

internal and external complaint handling processes

local and international financial markets and investments

organisational policy procedures and requirements

processes involved in the preparation of financial plans

relevant financial business principles and law

relevant legislation and codes of practice

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

comply with relevant legislation and regulations and organisational operating polices and guidelines

clearly inform clients of the financial planning process and services and obtain all relevant information on clients existing financial situation

determine client expectations and requirements with respect to financial planning service offered by the representative

identify risk and fraud indicators

accurately record information and make summary analysis

recognise authorities and assistance able to be offered by other advisers and organisations and determine where a referral to another adviser or organisation is appropriate

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills which may include formal examinations

setting and reviewing workplace projects and business simulationsscenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Clients may include:

Clients with special needs may include:

Client's expectations and requirements may include:

Relevant information may include:

Company policy and guidelines may include:

Relevant legislation and codes of practice may include:

Documentation may include: