Provide appropriate services, advice and products to clients

This unit describes the performance outcomes, skills and knowledge required to create rapport with the client, identify and analyse their needs, objectives and financial situation, and identify and present appropriate solutions, including completing and maintaining necessary documentation and providing after sales service.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 job roles advising on ASIC Tier I products such as term deposits and personal, sickness and accident insurance products.

Elements and Performance Criteria



1. Create rapport with client

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

1.2. Active listening skills are demonstrated in dealings with clients and services explained to them orally or, if necessary, in writing in a clear and unambiguous way, avoiding jargon and in language appropriate to the receiver

2. Identify client's needs, objectives and financial situation

2.1. The client is encouraged to express and clarify their attitudes, views, feelings and objectives

2.2. Relevant personal, financial and business details are collected from the client using an appropriate fact finder

2.3. The client's short-, medium- and long-term objectives and investment risk profile are identified using an appropriate fact finder

2.4. The client's preferences and concerns regarding options are identified using an appropriate fact finder where applicable and priorities identified and agreed upon

2.5. The fact finder is completed in accordance with the code of practice

3. Analyse client's needs, objectives and financial situation to identify appropriate solutions

3.1. All information from the fact find process is used in analysing client needs and determine an appropriate strategy to provide for identified needs and outcomes

3.2. Specialist advice is sought if required to address issues that professional judgement indicates may require further consideration.

4. Present appropriate solutions to client

4.1. Recommendations and features of the client advice record are explained and discussed with the client in a clear and unambiguous way with product knowledge appropriate for the service or advice offered demonstrated

4.2. Impact of key aspects of the recommendations are disclosed in a clear and concise manner to the client and they are guided through the key aspects of the client information brochure prior to signing the proposal

4.3. Requirements to put the recommended program into effect are explained to the client and a copy of the fact finder is provided to the client if requested

4.4. Confirmation is sought from client that they understand the recommendations presented

4.5. The client is assisted to make informed choices using the relevant documentation so that their needs and objectives are addressed consistent with their budgetary constraints

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

5. Negotiate effectively

5.1. Decisions are clearly explained to the client in accordance with company policy and they are assisted to make appropriate decisions regarding solutions to their needs and objectives

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

5.3. Communication channels are maintained when dealing with complaints and following complaint handling procedures

6. Complete and maintain necessary documentation

6.1. Proposal and other documents are completed and, where appropriate, signed off

6.2. Client records are created or updated

6.3. Contract variations are completed where applicable

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

6.5. Reference material is organised in a form which facilitates the selection of appropriate products to meet client's needs and updated on a regular basis

7. Provide after sales service

7.1. After sales service to be provided is clearly defined, and is communicated to the client and executed as needed

7.2. Fact finder, recommendations and client advice records are periodically reviewed

7.3. Any changes to the client's situation since previous recommendations were made are identified and acted upon at subsequent reviews

7.4. Areas of client dissatisfaction are acted upon in an ethical and timely manner and addresses code of practice requirements

Required Skills

Required skills

well-developed communication skills to:

determine and confirm client requirements, using questioning and active listening as required and avoiding unnecessary industry jargon

negotiate with clients on suitable products and services

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

research and analysis to access, interpret and manage complex information and product characteristics

presentation skills to inform clients of findings and recommendations

well-developed literacy skills for:

analysing information and products to ensure appropriateness to client needs, currency and accuracy

reading and interpreting documentation from a variety of sources and recording, gathering and consolidating financial information

drafting comprehensive client documentation and recommendations

learning skills to maintain knowledge of changes to relevant legislation and financial product features

organisational skills, including the ability to plan and sequence work

Required knowledge

financial products available in the industry

industry codes of practice and relevant regulation affecting the industry

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

investment risk factors and relationship to return expectations

options, strategies and solutions suitable for typical clients situations and profiles

principles of effective negotiation

requirements related to the disclosure of capacity

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

the role of the:



broker (if relevant)

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:

interpret and comply with relevant legislation supporting the providing of advice to clients and apply relevant industry codes of conduct

use organisational fact finders

identify and analyse client needs, objectives and financial situation in order to present appropriate solutions to the client

complete and maintain necessary documentation and provide after sales service.

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

access to financial services product information.

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

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 includes:

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

name and address of the registered adviser

whether the adviser's primary duty is to the client or the organisation.

Attitudes, views, feelings and objectives may include:

beliefs about performance

fluctuations in income or capital



long-term or short-term



risk taking



Relevant personal, financial and business details to be collected from the client may include:

current expenditure and income and an indication of:

future income and expenses

capacity to save

tax status

details of assets including income protection and life insurance held by the client

details of liabilities and potential liabilities of the client

details of the clients' needs and objectives for:


capital growth



time period the client is planning for

individual investment preferences and aversion or tolerance to risk

level and type of superannuation cover and current and likely future social security entitlements of the client

other client details such as:

employment security


partner's age

family commitments

expected retirement age

partner's expected retirement age.

Development of appropriate strategies and solutions may include:


investigation and assessment of costs



tax effectiveness and investment spread of relevant products available to the adviser

volatility of expected income and capital growth.

Products where detailed knowledge is required may include:

allocated pensions


endowment policies

income protection

insurance bonds

personal superannuation products

term insurance

trauma insurance

whole of life policies.

Documentation may include:

computer and manual applications



Eligible Termination Payment (ETP) forms

written advice.

Client's needs and objectives may include:

business protection

debt position

educational expenses

family income

retirement income



Unit sector

Industry advice

Employability Skills

This unit contains employability skills.

Licensing Information

Not applicable.