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Evidence Guide: FNSCUS516 - Record and implement client instructions

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSCUS516 - Record and implement client instructions

What evidence can you provide to prove your understanding of each of the following citeria?

Establish client instructions

  1. Identify client, and obtain client objectives, requirements and expectations according to organisational policies and procedures
  2. Confirm instructions according to best practice principles and policies and procedures
  3. Analyse client information to identify marketing strategies and communication methods available within organisation that best suit client and client needs
  4. Consult authorised representative and agree to instructions, and implementation strategies, actions, and communication methods to be used when implementing client instructions
  5. Document agreed client instructions and communication methods according to organisational policies and guidelines, legislative and confidentiality requirements, and industry codes of practice
Identify client, and obtain client objectives, requirements and expectations according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm instructions according to best practice principles and policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse client information to identify marketing strategies and communication methods available within organisation that best suit client and client needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult authorised representative and agree to instructions, and implementation strategies, actions, and communication methods to be used when implementing client instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document agreed client instructions and communication methods according to organisational policies and guidelines, legislative and confidentiality requirements, and industry codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement client instructions

  1. Review and monitor terms and conditions of agreed financial options and investment strategies for consistency with client instructions
  2. Monitor and review agreed implementation strategies and actions, and confirm their compliance with client instructions
  3. Update required stakeholders on the implementation and administration of agreed investment strategies and instructions
  4. Confirm that no breaches of agreement or anomalies occur
  5. Report and document changes to financial markets where required and according to legislative and organisational requirements, and guidelines where appropriate
Review and monitor terms and conditions of agreed financial options and investment strategies for consistency with client instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and review agreed implementation strategies and actions, and confirm their compliance with client instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update required stakeholders on the implementation and administration of agreed investment strategies and instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm that no breaches of agreement or anomalies occur

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report and document changes to financial markets where required and according to legislative and organisational requirements, and guidelines where appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish after sales service procedures

  1. Review client documentation and information and determine areas where additional after sales service can be provided
  2. Use identified marketing strategies to communicate potential additional after sales service to authorised representative
  3. Provide agreed additional after sales service based on authorised representative’s confirmation of client agreement
  4. Identify and address areas of client dissatisfaction according to organisational procedures, legislative and confidentiality requirements, and industry codes of practice
Review client documentation and information and determine areas where additional after sales service can be provided

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use identified marketing strategies to communicate potential additional after sales service to authorised representative

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide agreed additional after sales service based on authorised representative’s confirmation of client agreement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and address areas of client dissatisfaction according to organisational procedures, legislative and confidentiality requirements, and industry codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

record and implement instructions from at least three different clients in relation to a required financial investment

provide after sale services in relation to at least one of the above clients.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

financial services industry and legislative requirements and codes of practice relating to recording and implementing client instructions regarding financial investments

organisational policies and procedures relating to recording and implementing client instructions, including:

providing additional after sales service

confidentiality requirements

best practice principles

financial product services offered by the organisation, and their terms and conditions

sales and marketing techniques relevant to provision of after sales service

fraud detection and prevention procedures and practices relating to implementing client instructions

business rules of financial associations relevant to clients

relevance of the following to implementing client financial investment instructions:

key characteristics of local and international financial markets and investments

current economic climate and outlook of the financial services industry

influence of tax factors on financial services clients.