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
What evidence can you provide to prove your understanding of each of the following citeria?
Establish plan objectives and scope
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Research results are reviewed and compared to client requirements and expectations Completed |
Evidence:
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Current client situation is analysed to determine opportunities and constraints Completed |
Evidence:
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Desired financial resource and market parameters are identified and assessed Completed |
Evidence:
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Plan objectives are developed for asset growth, income, risk, taxation and any other objectives developed in consultation with the client Completed |
Evidence:
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Develop strategic assumptions
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Client related and economic key assumptions are developed and tested Completed |
Evidence:
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Legislative and regulatory requirements, including taxation assumptions, are identified and tested Completed |
Evidence:
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Clarifications are sought from client or other professionals as required and strategic assumptions documented for client review Completed |
Evidence:
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Develop financial plan strategy
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Initial strategic options are developed based on strategic assumptions and client specifications Completed |
Evidence:
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Strategic options are analysed and modelled with any inappropriate options rejected Completed |
Evidence:
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Supporting arguments for each final strategic option are developed and included in a draft overall strategy Completed |
Evidence:
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Any necessary client checks or consultations are made to verify the plan strategy Completed |
Evidence:
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Develop preliminary financial plan
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Specific products and options are selected to meet agreed strategy with cash flow, liquidity and capital preservation or estate planning requirements incorporated as required Completed |
Evidence:
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Recommendations for financial asset allocation structure are developed including where provision is required for equities, trusts, partnerships, allocated pensions, and superannuation and planned capital expenditure Completed |
Evidence:
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Recommendations for changes to income and taxation arrangements are developed including referral advice to accountants or lawyers as appropriate Completed |
Evidence:
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Recommendations on risk management strategies and products are developed and incorporated in the plan Completed |
Evidence:
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Anticipated fees and charges are incorporated into the preliminary plan with information on internal and external complaint resolution procedures available to the client Completed |
Evidence:
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Preliminary financial plan is documented according to organisation guidelines and procedures Completed |
Evidence:
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Ensure compliance of financial plan with regulatory and organisational requirements
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Preliminary financial plan is checked to ensure that the role of the representative/adviser is properly documented and complies with relevant acts, regulations and regulatory guidelines Completed |
Evidence:
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Preliminary financial plan is assessed for its ability to successfully achieve objectives Completed |
Evidence:
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Preliminary financial plan is checked to ensure that it complies with ethical and regulatory requirements Completed |
Evidence:
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Produce completed plan
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Financial plan is produced in accordance with organisational quality control requirements Completed |
Evidence:
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Supporting organisation and product explanatory information is attached Completed |
Evidence:
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Regulatory and complaints information where required is attached Completed |
Evidence:
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