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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Establish relationship with customers
   • Attend to customer enquiries in a timely and courteous manner
   • Demonstrate active listening skills in dealing with customer enquiries and provide help and assistance to ensure full and accurate completion of initial documentation, where required
2. Identify customer needs
   • Examine, where applicable, initial documentation to determine products and services of interest to customers
   • Undertake clear and unambiguous communication with customers to determine and clarify products and services of interest to them
   • Inform customers clearly of the regulatory restrictions on providing financial products advice
   • Request information from customers to determine their needs, ensuring that information gathered is for the purposes of provision of general advice only
   • Identify requests for information, advice, products or services that fall outside the organisation’s scope of operation and inform customers where such information, advice, products or services can be obtained, where possible
   • Explain the range of products and services available to customers in a clear and unambiguous way, avoiding jargon and in language appropriate to receiver
3. Identify general advice boundaries of product and service
   • Analyse the range of products and services of interest to customers to determine their categorisation is general advice, in line with legislation and organisational policy
   • Refer customers to appropriate specialist personnel where requested advice is deemed to fall outside category of general advice
4. Provide general advice to customers
   • Assist customers to make informed choices on products and services using relevant documentation
   • Provide general advice to customers in strict accordance with regulatory restrictions, organisational policy and organisational tools
   • Demonstrate product knowledge appropriate for service or advice offered when providing advice to customers
   • Explain and discuss recommendations with customers in a clear and unambiguous way

Performance Evidence

Evidence of the ability to:

create rapport with customers and analyse their needs to identify appropriate provision of advice

provide general advice to customers in compliance with relevant legislation and organisational policy and procedures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain the difference between the provision of general advice and personal advice

describe key requirements of relevant legislation affecting the industry, particularly Australian Securities and Investments Commission (ASIC) policy statements relating to financial product advisory services

describe organisational policy and guidelines related to the provision of general advice

provide an overview of the characteristics of current products and services available in the industry that are NOT specified in accordance with ASIC regulations and do not require Tier 1 or 2 status

outline key features of relevant organisational documentation, including brochures and fact sheets

explain the role of different advisers within the organisation and industry.

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