Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

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

1. Develop marketing plan for practice

1.1 Develop or review practice vision statement objectives

1.2 Identify or refine target markets based on research and experience

1.3 Obtain market research data and develop competitor analysis

1.4 Develop or review practice market position based on research findings and analysis

2. Develop practice promotion plans

2.1 Develop practice brand and benefits of practice, and identify practice products and services

2.2 Select or develop appropriate promotion tools, as required

3. Develop practice growth plans

3.1 Develop plans to add new clients and increase yield per existing client

3.2 Rank proposed plans according to agreed criteria and develop agreed action plan to implement top ranked plans

3.3 Review practice work activities to ensure they support growth plans

4. Implement and monitor plan

4.1 Develop implementation plan in consultation with all relevant stakeholders

4.2 Agree on indicators of success of plan and monitor implementation against agreed indicators

4.3 Adjust implementation as required to meet objectives

Skill 

Performance Criteria 

Description 

Reading

1.1-1.4, 3.3

• Critically analyses documentation from a variety of sources, and records and consolidates information to determine requirements

Writing

1.1, 1.3, 1.4, 2.1, 2.2, 3.1, 3.2, 4.1

• Prepares reports and plans using appropriate formats, and organises information and data logically and sequentially
• Uses clear and concise language, correct spelling and grammar and appropriate terminology to convey information appropriate to the audience and purpose

Oral Communication

4.1

• Participates in verbal exchanges using active listening and questioning techniques to elicit information and confirm understanding
• Presents information structuring tone, pace and content in line with the audience and purpose

Numeracy

1.2, 1.3, 1.4, 3.1, 3.2

• Interprets, compares and consolidates numerical and financial information to determine requirements, including the manipulation of data for modelling, ranking and benchmarking

Navigate the world of work

1.1, 1.4, 2.1, 3.1, 4.1, 4.2

• Takes a lead role in the development of organisational goals, roles and responsibilities
• Works autonomously, making high level decisions to achieve and improve organisational goals
• Monitors and reviews organisational policy, procedures and goals to implement and manage change
• Develops and implements strategies that ensure organisational policy, procedures and regulatory requirements are being met

Interact with others

4.1, 4.2

• Develops and implements communications strategies with internal and external persons to build rapport and negotiate agreeable outcomes
• Influences and fosters a collaborative culture, facilitating a sense of commitment and workplace cohesion

Get the work done

1.1-1.4, 2.1, 2.2, 3.1-3.3, 4.2, 4.3

• Plans strategic priorities and outcomes within a flexible, efficient and effective context in a diverse environment
• Uses digital tools to access, gather and analyse data
• Addresses complex problems involving multiple variables, using formal analytical and lateral thinking techniques, experience and knowledge to generate solutions
• Explores and incubates new and innovative ideas through unconstrained analysis and critical thinking to develop and improve organisational goals

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSPRM603 Grow the practice

FNSPRM603A Grow the practice

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.