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 for

accessing and managing comprehensive and complex information

interpreting complex documentation

welldeveloped numeracy and IT skills such as

using advanced analytical techniques

accessing and using software such as spreadsheets and databases

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

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

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

judgement skills to form recommendations in complex situations

strategy skills to form different strategies and options

Required knowledge

a wide range of financial products and services and their uses in portfolios

a wide range of relevant financial product information sources and research techniques

financial industry related Acts and regulations

industry trends and latest research findings

relevant legislative and code of practice requirements

relevant organisational policies objectives and guidelines

risks and implications associated with financial products and services

specialist level knowledge of theories of investment portfolio management and management of investment and risk

taxation and social security systems and regulations and their effect on the specified financial products

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

test and assess the integrity of information and specify and justify research objectives and strategy

use knowledge of a wide range of available information sources to develop research strategies and obtain information not readily available

assess the impact of trends on product performance to interpret and assess available products and services and how they can be combined in a comprehensive portfolio

assess risks and benefits associated with using a range of products and services within a portfolio

conduct and document research for financial plans summarise and prioritise findings and evaluate outcomes against client requirements to form recommendations

comply with company policies and guidelines industry codes of practice and relevant legislation

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

Information may include factors such as:

Client objectives and expectations may include:

Timeframes may be affected by:

Appropriate advice may come from: