Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to accurately record and implement instructions regarding financial investments from a range of clients including direct, shareholder, member, organisation, stockbroker, trustee, agent and intermediary, and provide appropriate after sales service.
It applies to individuals who may provide leadership and responsibility for their own and others’ work outcomes.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Customer service
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Execute instructions to satisfy client requirements |
1.1 Identify clients adequately, obtain client requirements and confirm instructions are given in good faith 1.2 Document client instructions promptly and accurately in accordance with organisational policy and guidelines, confidentiality requirements, and with relevant legislation or industry codes of practice 1.3 Action client instructions with relevant personnel or section in accordance with client requirements, organisational policy and guidelines, confidentiality requirements, and relevant legislation or industry codes of practice |
2. Review and monitor implementation of client instructions |
2.1 Review and monitor terms and conditions of agreed options and investment strategies for consistency with client instructions 2.2 Monitor and review implementation strategies and actions regularly to ensure compliance with client instructions 2.3 Update clients regularly on the implementation and administration of their agreed investment strategies and instructions to ensure no breaches of agreement or anomalies occur 2.4 Advise clients of changes to markets, legislative or organisational requirements or guidelines where appropriate |
3. Provide additional/after sales service |
3.1 Review client documentation and information periodically to determine areas and extent of additional after sales service that can be provided 3.2 Use identified marketing strategies to communicate potential additional after sales service to clients 3.3 Provide defined additional after sales service with client agreement 3.4 Identify and address areas of client dissatisfaction promptly in a professional and ethical manner, in accordance with organisational policy and guidelines, confidentiality requirements, and relevant legislation or industry codes of practice |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
2.1, 2.2, 2.3, 3.1, 3.4 |
|
Writing |
1.3, 2.1, 2.3, 2.4, 3.2, 3.3, 3.4 |
|
Oral Communication |
1.1, 2.3, 2.4, 3.2, 3.3, 3.4 |
|
Numeracy |
1.2, 2.1, 2.2, 3.1, 3.3 |
|
Navigate the world of work |
1.1, 1.3, 2.4, 3.4 |
|
Interact with others |
1.1, 2.3, 2.4, 3.2, 3.3, 3.4 |
|
Get the work done |
1.1-1.3, 2.1-2.4, 3.1-3.4 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSCUS506 Record and implement client instructions |
FNSCUS506A Record and implement client instructions |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe