Required skills

welldeveloped communication skills to

determine and confirm practice development requirements using questioning and active listening as required

liaise with others share information listen and understand

negotiate outcomes with professional colleagues

use language and concepts appropriate to cultural differences

research skills for

accessing and managing information

interpreting documentation

coordinating tasks

welldeveloped numeracy and IT skills for

identifying and using financial modelling

accessing and using appropriate software such as word processors spreadsheets and databases and using internet information

highly developed literacy skills to read and interpret documentation from a variety of sources and recording gathering and consolidating financial information

welldeveloped problem solving skills to identify any issues that have the potential to impact on the practiceor growth plan and to develop options to resolve these issues when they arise

teamwork skills for working and consulting with others when developing plans for the business

planning skills to develop effective plans and implementation strategies

Required knowledge

financial industry products and marketing mix

relevant marketing principles for professional practices

business research techniques

sources of relevant financial organisation data

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

identify the key market data for the practice to maintain and use knowledge of a wide range of available information sources

acquire information not readily available within a practice and analyse data to determine areas of improvement for practice

negotiate required improvements to ensure implementation

evaluate systems against practice requirements and form recommendations andor make recommendations

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 relevant legislation regulations and codes of practice

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

setting and reviewing workplace projects and business simulationsscenarios

evaluating samples of work

Guidance information for assessment

Practice objectives should be:

Market research data includes:

Competitor analysis includes:

Market position should include data on:

Practice brand may include:

Benefits may include:

Promotion tools include:

Yield per existing client may be increased by methods including: