Present and negotiate complex and innovative financial plans

This unit describes the performance outcomes, skills and knowledge required to present and negotiate a complex or innovative preliminary, amended or final financial plan to a client. It encompasses creating rapport with clients, presenting financial plans to the clients, negotiating effectively, and completing and maintaining necessary documentation.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).


This unit applies to senior financial planners, senior para-planners and senior technical staff.

Elements and Performance Criteria



1. Create rapport with the client

1.1. Disclosure of capacity to client is consistent with industry requirements and organisation guidelines

1.2. Client concerns, if any, are identified and responded to appropriately

1.3. Services explained to client are given orally and in writing in a clear and unambiguous way, avoiding jargon and in a language appropriate to the receiver

1.4. Client is assisted to make informed choices using the relevant documentation

1.5. Client's needs and objectives are addressed in a manner consistent with client's level of financial understanding

2. Present financial plan to the client

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

2.2. The financial plan document is prepared, explained and discussed with the client in a clear and unambiguous way

2.3. Client is guided through the assumptions used in formulating the plan and the degree to which variations in the assumptions may impact on expected outcomes is discussed

2.4. Impact of the recommendations is clearly and comprehensively discussed with the client including advantages, risks and any disadvantages of particular proposals

2.5. Implementation actions required by the client are clearly explained and written agreement to actions is obtained

2.6. Fees, charges and commissions are clearly explained to the client

2.7. Any commercial relationship of the representative and their organisation to products and or services mentioned in the plan are disclosed to the client

2.8. Adviser identifies and addresses issues that in their professional judgement may require further consideration or consultation with other financial services professionals

2.9. Copies of the research and other documentation are provided to the client as required or when requested and confirmation is sought that the client understands the recommendations presented

2.10. Product knowledge appropriate for the service or advice offered is demonstrated in discussion with the client

2.11. After sales service to be provided is clearly defined, and is communicated to the client

3. Negotiate effectively

3.1. Clients are assisted to make appropriate decisions regarding solutions to their needs and objectives 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 conflict situations involving clients

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

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

4. Complete and maintain necessary documentation

4.1. Financial plan is adjusted according to changes agreed to with the client and a proposal and other documents are completed and signed off when plan is agreed

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

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

4.4. Customer advice is recorded in accordance with current industry documentation requirements

4.5. Instructing or purchasing documents where required are signed by the client

Required Skills

Required skills

highly developed communication skills to:

determine and confirm complex client requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed research and analysis skills for:

accessing and managing comprehensive and complex information

interpreting complex documentation

forming a holistic perspective of complex situations and identify implications

well-developed numeracy skills to accurately analyse, record and store data in accordance with organisational requirements

well-developed literacy skills for analysingcomplex information and products to ensure appropriateness to client needs, currency and accuracy

IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information

self-management skills for complying with ethical, legal and procedural requirements

learning skills to maintain knowledge of changes to compliance legislation and requirements

highly developedproblem solving skills to identify any issues that have the potential to impact on the planning process or outcome and to develop options to resolve these issues when they arise

organisational and time management skills to sequence tasks, meet timelines and arrange meetings

critical reasoning and judgement skills for forming recommendations in operational situations

Required knowledge

impact of relevant economic, taxation and social security policy on the client's financial planning needs

impact of relevant estate planning considerations on the client's financial planning needs

investment and savings vehicles, financial markets, asset classes and investment characteristics

investment risk factors and relationship to return expectations

products available in the financial services industry

relevant industry codes of practice and requirements

requirements related to the disclosure of capacity

role of the financial planning adviser and the financial planning practice

terms of the acts and regulations affecting the industry

Evidence Required

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

apply comprehensive knowledge of the financial planning industry, industry regulations and codes of practice, financial products, financial markets and investment characteristics to the role of financial adviser

assess impacts of taxation, social security, economic and other government policies on client investment and financial requirements

apply knowledge of sales and marketing media and methodologies

successfully present complex financial plans to clients providing justification and research evidence for all elements of the plan and gain client feedback on, and agreement to, the plan.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

observing processes and procedures in workplaces or role plays

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations/scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Disclosure of capacity will include:

a statement indicating whether the adviser is only accredited to sell or advise on a restricted range of products

any relationship the adviser and/or their organisation have with products mentioned in the financial plan

name and address of the registered adviser

the means of remuneration of the adviser

who is responsible for the adviser's conduct.

Financial plans covered by this unit:

are those which are identified according to practice guidelines as complex or which are for commercial relationship reasons identified as requiring development to a higher than normal standard

could involve above average sums of money, plans with complex legal, regulatory or estate issues, plans covering an above average range of products or plans for major clients.

Documentation may include:



Eligible Termination Payment (ETP) forms

written advice.

Products include, but are not limited to:

cash deposits


direct investments



insurance products

managed investments



Unit sector

Financial planning

Employability Skills

This unit contains employability skills.

Licensing Information

Not applicable.