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Evidence Guide: FNSFPL401 - Extract and analyse information on specified financial strategies and products

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

 

FNSFPL401 - Extract and analyse information on specified financial strategies and products

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

Interpret research requirements

  1. Review and quantify client information and objectives, and establish research topics
  2. Check specifications of products and/or services to be researched with senior financial planner
  3. Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations
  4. Establish timeframes and prioritise requests to ensure available information is useable and justifiable
Review and quantify client information and objectives, and establish research topics

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check specifications of products and/or services to be researched with senior financial planner

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish timeframes and prioritise requests to ensure available information is useable and justifiable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research financial products and strategies to set guidelines

  1. Ensure data extraction criteria are relevant to intended use and client requirements
  2. Identify trends to provide meaningful information on strategies and product performance
  3. Identify potential risk factors associated with researched strategies and products
  4. Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making
  5. Identify issues that require specialist and/or independent research or advice
Ensure data extraction criteria are relevant to intended use and client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify trends to provide meaningful information on strategies and product performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential risk factors associated with researched strategies and products

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify issues that require specialist and/or independent research or advice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Summarise research information and contribute to recommendations

  1. Collate, prioritise and check information on financial strategies and products against research specification
  2. Analyse research for completeness and assess for relevant implications of information
  3. Prepare written performance, trend and risk analyses and check against research specification
  4. Define and record any qualifications or issues for further research
  5. Provide recommendations to financial planning process according to organisational procedures and guidelines
Collate, prioritise and check information on financial strategies and products against research specification

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse research for completeness and assess for relevant implications of information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare written performance, trend and risk analyses and check against research specification

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Define and record any qualifications or issues for further research

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide recommendations to financial planning process according to organisational procedures and guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Interpret research requirements

1.1 Review and quantify client information and objectives, and establish research topics

1.2 Check specifications of products and/or services to be researched with senior financial planner

1.3 Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations

1.4 Establish timeframes and prioritise requests to ensure available information is useable and justifiable

2. Research financial products and strategies to set guidelines

2.1 Ensure data extraction criteria are relevant to intended use and client requirements

2.2 Identify trends to provide meaningful information on strategies and product performance

2.3 Identify potential risk factors associated with researched strategies and products

2.4 Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making

2.5 Identify issues that require specialist and/or independent research or advice

3. Summarise research information and contribute to recommendations

3.1 Collate, prioritise and check information on financial strategies and products against research specification

3.2 Analyse research for completeness and assess for relevant implications of information

3.3 Prepare written performance, trend and risk analyses and check against research specification

3.4 Define and record any qualifications or issues for further research

3.5 Provide recommendations to financial planning process according to organisational procedures and guidelines

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Interpret research requirements

1.1 Review and quantify client information and objectives, and establish research topics

1.2 Check specifications of products and/or services to be researched with senior financial planner

1.3 Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations

1.4 Establish timeframes and prioritise requests to ensure available information is useable and justifiable

2. Research financial products and strategies to set guidelines

2.1 Ensure data extraction criteria are relevant to intended use and client requirements

2.2 Identify trends to provide meaningful information on strategies and product performance

2.3 Identify potential risk factors associated with researched strategies and products

2.4 Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making

2.5 Identify issues that require specialist and/or independent research or advice

3. Summarise research information and contribute to recommendations

3.1 Collate, prioritise and check information on financial strategies and products against research specification

3.2 Analyse research for completeness and assess for relevant implications of information

3.3 Prepare written performance, trend and risk analyses and check against research specification

3.4 Define and record any qualifications or issues for further research

3.5 Provide recommendations to financial planning process according to organisational procedures and guidelines

Evidence of the of the ability to:

interpret research requirements and research financial products and strategies to set guidelines

summarise research information and contribute to recommendations.

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

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

describe the key features of:

organisational policy, objectives and guidelines

financial industry code of practice requirements

relevant legislation and regulations

analyse and explain risks associated with specific financial products and services

outline the effect of taxation and social security systems and regulations on specified financial products

describe the role of independent analysts and the value of their recommendation

summarise the key needs of clients and referral processes to specialist personnel

describe the key theories of investment, portfolio management and management of investment and risk.