Required skills

Highly developed communication skills to

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

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

welldeveloped research and analysis skills for

accessing and managing comprehensive and complex information

interpreting complex documentation

coordinating multiple tasks

forming a holistic perspective of complex situations and identify implications

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

superior literacy skills for analysingcomplex 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

highly developedproblem 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

critical reasoning skills

Required knowledge

available information and research sources

business principles and law

complaints handling processes

economic climate and outlook

family structures and legal implications

financial product features and benefits service terms and conditions

indications and implications of risk and fraud

organisational policy procedures and requirements

property structures and legal implications

relevant financial industry and related legislation and codes of practice

sales and marketing techniques appropriate to the financial services industry

sound knowledge of local and international financial markets and investments

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 industry codes of practice legislation and regulations and organisational policies and procedures

discuss the financial planning process services and options with clients and establish their personal family and business financial situation

identify client strengths and liabilities in their financial management and information on any complex taxation and or estate issues they may have

establish a holistic picture of the clients requirements and expectations to identify risks or unusual requirements and assess risk and fraud indicators

empathise and build rapport with clients by offering thorough and ongoing assistance with all enquiries and requests for service

maintain and use knowledge of and communicate the features and benefits of products and services available

maintain and use thorough knowledge of legislation and financial implications affecting family and business structures

maintain and use thorough knowledge of taxation and property structures and financial implications

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

observing processes and procedures in workplaces or role plays

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:

Family financial situation may include:

Relevant facts and information may include:

Documentation may include:

Confidentiality includes:

Company policy and guidelines may include:

Relevant legislation and industry codes of practice may include:

Business financial situation may include:

Client expectations and requirements may include: