NTISthis.com

Evidence Guide: FNSIAD502 - Provide appropriate and timely information and advice to clients

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

 

FNSIAD502 - Provide appropriate and timely information and advice to clients

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

Analyse client expectations, requirements and investment strategies

  1. Determine client expectations and needs in accordance with client requirements, organisational policy and guidelines, and relevant legislation or industry codes of practice
  2. Determine appropriate strategies promptly and accurately to meet client needs and requirements
  3. Carry out research and use relevant research data where appropriate
  4. Seek and obtain specialist advice and assistance promptly, where required
  5. Carry out and determine cost-benefit analysis on the various strategies and document where appropriate
Determine client expectations and needs in accordance with client requirements, organisational policy and guidelines, and relevant legislation or industry codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine appropriate strategies promptly and accurately to meet client needs and requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Carry out research and use relevant research data where appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek and obtain specialist advice and assistance promptly, where required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Carry out and determine cost-benefit analysis on the various strategies and document where appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop response consistent with client investment strategies and agreed terms of business

  1. Select a range of investment options and investment strategies relevant to client requirements
  2. Explain features of the options, including potential impacts, in a clear, unambiguous way to clients
  3. Make relevant disclosures as required by legislation, regulations, industry codes of practice or organisational policy and guidelines to clients
  4. Seek confirmation from clients that they understand the selected options, potential impacts and disclosures
  5. Explain requirements to put suggested options into effect and obtain agreement to proceed from clients
  6. Prepare documentation, including suggested options, agreed investment strategies and confirmation of agreement promptly and accurately
  7. Update and file client records promptly
Select a range of investment options and investment strategies relevant to client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain features of the options, including potential impacts, in a clear, unambiguous way to clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Make relevant disclosures as required by legislation, regulations, industry codes of practice or organisational policy and guidelines to clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek confirmation from clients that they understand the selected options, potential impacts and disclosures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain requirements to put suggested options into effect and obtain agreement to proceed from clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare documentation, including suggested options, agreed investment strategies and confirmation of agreement promptly and accurately

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update and file client records promptly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide ongoing financial advice and review of portfolio where requested and within agreed terms of business

  1. Maintain ongoing rapport with clients
  2. Seek client satisfaction and feedback regarding service performance, portfolio performance and recommended investment strategies
Maintain ongoing rapport with clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek client satisfaction and feedback regarding service performance, portfolio performance and recommended investment strategies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Market services and investment opportunities to clients

  1. Identify potential investment opportunities and provision of additional or ongoing services from review of client records and feedback, and external financial markets
  2. Identify and implement strategies to inform existing clients of additional or ongoing services and potential investment opportunities
  3. Seek client feedback on advertising and marketing strategies to monitor the effectiveness of those strategies
Identify potential investment opportunities and provision of additional or ongoing services from review of client records and feedback, and external financial markets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and implement strategies to inform existing clients of additional or ongoing services and potential investment opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek client feedback on advertising and marketing strategies to monitor the effectiveness of those strategies

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. Analyse client expectations, requirements and investment strategies

1.1 Determine client expectations and needs in accordance with client requirements, organisational policy and guidelines, and relevant legislation or industry codes of practice

1.2 Determine appropriate strategies promptly and accurately to meet client needs and requirements

1.3 Carry out research and use relevant research data where appropriate

1.4 Seek and obtain specialist advice and assistance promptly, where required

1.5 Carry out and determine cost-benefit analysis on the various strategies and document where appropriate

2.Develop response consistent with client investment strategies and agreed terms of business

2.1 Select a range of investment options and investment strategies relevant to client requirements

2.2 Explain features of the options, including potential impacts, in a clear, unambiguous way to clients

2.3 Make relevant disclosures as required by legislation, regulations, industry codes of practice or organisational policy and guidelines to clients

2.4 Seek confirmation from clients that they understand the selected options, potential impacts and disclosures

2.5 Explain requirements to put suggested options into effect and obtain agreement to proceed from clients

2.6 Prepare documentation, including suggested options, agreed investment strategies and confirmation of agreement promptly and accurately

2.7 Update and file client records promptly

3. Provide ongoing financial advice and review of portfolio where requested and within agreed terms of business

3.1 Maintain ongoing rapport with clients

3.2 Seek client satisfaction and feedback regarding service performance, portfolio performance and recommended investment strategies

4. Market services and investment opportunities to clients

4.1 Identify potential investment opportunities and provision of additional or ongoing services from review of client records and feedback, and external financial markets

4.2 Identify and implement strategies to inform existing clients of additional or ongoing services and potential investment opportunities

4.3 Seek client feedback on advertising and marketing strategies to monitor the effectiveness of those strategies

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. Analyse client expectations, requirements and investment strategies

1.1 Determine client expectations and needs in accordance with client requirements, organisational policy and guidelines, and relevant legislation or industry codes of practice

1.2 Determine appropriate strategies promptly and accurately to meet client needs and requirements

1.3 Carry out research and use relevant research data where appropriate

1.4 Seek and obtain specialist advice and assistance promptly, where required

1.5 Carry out and determine cost-benefit analysis on the various strategies and document where appropriate

2.Develop response consistent with client investment strategies and agreed terms of business

2.1 Select a range of investment options and investment strategies relevant to client requirements

2.2 Explain features of the options, including potential impacts, in a clear, unambiguous way to clients

2.3 Make relevant disclosures as required by legislation, regulations, industry codes of practice or organisational policy and guidelines to clients

2.4 Seek confirmation from clients that they understand the selected options, potential impacts and disclosures

2.5 Explain requirements to put suggested options into effect and obtain agreement to proceed from clients

2.6 Prepare documentation, including suggested options, agreed investment strategies and confirmation of agreement promptly and accurately

2.7 Update and file client records promptly

3. Provide ongoing financial advice and review of portfolio where requested and within agreed terms of business

3.1 Maintain ongoing rapport with clients

3.2 Seek client satisfaction and feedback regarding service performance, portfolio performance and recommended investment strategies

4. Market services and investment opportunities to clients

4.1 Identify potential investment opportunities and provision of additional or ongoing services from review of client records and feedback, and external financial markets

4.2 Identify and implement strategies to inform existing clients of additional or ongoing services and potential investment opportunities

4.3 Seek client feedback on advertising and marketing strategies to monitor the effectiveness of those strategies

Evidence of the ability to:

develop investment options and strategies for clients that are:

based on a thorough analysis of client needs, expectations and requirements

in compliance with organisational policy and procedures, industry codes of practice and relevant legislation and regulations

accurately prepare documentation for clients that includes suggested options and investment strategies, and agreed terms of business.

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:

discuss the current economic climate and outlook

describe local and international financial markets and investments

explain key features of a range of financial products including:

returns

terms and conditions

outline and explain basic tax factors, business principles and law impacting on financial products

identify organisational policy, procedures and requirements

describe key requirements of relevant legislation, regulation and industry codes of practice relating to the provision information and advice to clients

discuss general sales and marketing techniques

list relevant research reports on financial markets

explain current investment returns and trends obtained from financial markets research.