Required skills

welldeveloped communication skills to

determine and confirm client requirements using questioning and active listening as required and avoiding unnecessary industry jargon

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

literacy skills for

analysing information and products to ensure appropriateness to client needs currency and accuracy

reading and interpreting documentation from a variety of sources and recording gathering and consolidating financial information

learning skills to maintain knowledge of changes to relevant legislation and financial product features and what constitutes general advice

organisational skills including the ability to plan and sequence work

Required knowledge

organisational policy and guidelines related to the provision of advice

overview of products available in the industry their characteristics and conditions

relevant document details including

brochures

fact sheets

relevant legislation affecting the industry particularly ASIC policy statements relating to financial product advisory services

the role of different advisers within the organisation

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

interpret and comply with relevant legislation supporting the provision of advice to clients

maintain current knowledge of products and services available to clients

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

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

access to financial services product information

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

accessing and validating third party reports

Guidance information for assessment

Enquiries may include,:

Initial documentation may include, but is not limited to:

include:

Special needs include but are not limited to:

Legislation and organisation policy may include but is not limited to:

General advice:

Documentation may include:

Organisational tools might include:

Product knowledge might include: