Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 5.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish client’s personal and financial situation

1.1 Obtain from authorised representative all available information on client required to identify client’s situation according to organisational procedures and professional protocols

1.2 Identify and clarify with authorised representative client expectations, needs and objectives

1.3 Develop summary analysis of client’s financial position and determine their contact category based on extent of client disclosure

1.4 Determine if client requires execution or settlement-only action and do not offer or provide further advice

1.5 Update organisational system with required client information

2. Determine client’s financial position and risk profile

2.1 Review summary analysis and communicate with relevant stakeholders to confirm client’s financial position according to organisational procedures

2.2 Identify risk and fraud indicators and take required action according to organisational procedures

2.3 Record assessment of client’s financial position where required

3. Assess client preferences relating to financial investment products

3.1 Determine client investment needs and preferences with respect to financial product and service selection or portfolio

3.2 Clarify client requirements, expectations and concerns with authorised representative, and respond to identified concerns according to professional protocols

3.3 Obtain specialist advice where necessary or refer client to relevant personnel or organisation if required services cannot be provided by organisation

3.4 Analyse information provided by authorised representative and determine risk or reward and asset allocation strategies according to client and legislative requirements, organisational policies and procedures and industry codes of practice

4. Prepare documentation

4.1 Complete required client information, financial and personal histories and disclosure documentation according to organisational procedures

4.2 File completed documentation and information according to legislative and regulatory requirements, and organisational policies and procedures

4.3 Create or update organisation’s client records as required and according to organisational procedures

S KILL 

DESCRIPTION 

Oral communication

• Participates in verbal exchanges with a wide range of stakeholders using active listening and questioning techniques to convey and clarify information
• Presents information structuring tone, pace and content in line with audience and purpose

Reading

• Extracts and analyses information from texts using specialised terminology and vocabulary

Writing

• Uses relevant financial text type, format, language and conventions to record key facts and required information

Teamwork

• Collaborates and cooperates with others to achieve joint outcomes
• Selects and uses relevant conventions and protocols when communicating with required stakeholders

Planning and organising

• Accepts responsibility for planning, prioritising and sequencing tasks and workload to achieve organisational and legislative requirements

Problem solving

• Uses problem-solving skills to address client needs

Self-management

• Accepts responsibility and ownership for the task and makes decisions about the need to transfer responsibility to others

Technology

• Uses digital technologies and tools to access, store and share information

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 5.0.