Provide financial planning advice

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSFPL507A, 'Provide financial planning advice'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Provide financial planning advice' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

1. Create rapport with the client

1.1. Disclosure of capacity to client is consistent with codes of practice and legislative requirements, and organisational requirements and client concerns, if any, are identified and responded to appropriately

1.2. Services are explained to client when appropriate, including in writing, in a clear and unambiguous way, avoiding jargon and in a language appropriate to the level of financial understanding of the client

1.3. Client is assisted to make informed choices using relevant documentation

1.4. Client's needs and objectives are addressed consistent with their budgetary situation

2. Discuss financial plan with the client

2.1. The scope and limitations of the plan and or advice is clearly explained to the client together with provision of appropriate warnings

2.2. Strategies and recommendations in the financial plan are explained and discussed with the client in a clear and unambiguous way

2.3. Financial plan documentation is prepared, explained and discussed with the client when appropriate

2.4. Impact of key aspects of the recommendations is disclosed in a clear and concise manner to the client

2.5. Client is guided through the key aspects of the strategies proposed when appropriate with product knowledge appropriate for the service or advice offered demonstrated

2.6. Assumptions used in formulating the plan and the degree to which variations in the assumptions may impact the client's expected outcomes is explained

2.7. Requirements to put the recommended plan into effect are explained to the client with any areas in the plan that may require further advice identified and noted

2.8. Copies of the research and other relevant documentation are provided to the client if requested and confirmation sought that the client understands all recommendations presented

2.9. Agreement in principle to proceed is obtained from the client

2.10. Appropriate level of after sales service to be provided is clearly defined, and communicated to the client

3. Negotiate effectively

3.1. Clients are assisted when necessary to make appropriate decisions regarding solutions to their needs and objectives within the scope of the plan with alternatives to recommendations presented when requested

3.2. Limits imposed by regulatory requirements or organisation guidelines are observed

3.3. Restraint and composure are exercised when dealing with any conflict situations involving clients

3.4. Communication channels are maintained when dealing with any complaints and following internal or external complaint handling procedures

4. Complete and maintain necessary documentation

4.1. Financial plan is adjusted according to changes agreed to by the client

4.2. Proposals and other documents are completed and signed off when plan is agreed between the client and authorised representative

4.3. Implementation actions required by the client are clearly identified and written agreement to actions is obtained

4.4. Client records are created or updated with any contract variations completed if required

4.5. Confirmation including relevant documentation and contract variation is provided to the client and final plan implemented

4.6. Customer advice is recorded in accordance with the organisation guidelines and or financial plan documentation requirements

4.7. Client signatures on instructing and or purchasing documents are obtained where required


Qualifications and Skillsets

FNSFPL507A appears in the following qualifications:

  • FNS50610 - Diploma of Financial Planning
  • FNS50611 - Diploma of Financial Planning