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. Create rapport with prospective client

1.1 Carry out prospecting and provide general introduction to products, services, organisational values and experience to potential client through range of communication methods

1.2 Use appropriate questioning and listening skills to determine prospective client’s understanding of financial processes

1.3 Inform prospective client of role of advisers and organisation

2. Identify prospective client’s needs

2.1 Encourage prospective client to express needs and goals

2.2 Identify prospective client’s questions and concerns, and respond appropriately, in clear and unambiguous way and in manner consistent with prospect’s level of financial understanding

3. Secure commitment

3.1 Probe reasons for resistance and identify and address in appropriate manner through strategy to manage resistance

3.2 Use range of communication and interpersonal skills to gather prospect’s personal, financial and business details in accordance with relevant legislation, and map out next steps that will occur

4. Manage prospective client information

4.1 Record prospect information in appropriate way and conduct additional product and service research to determine possible appropriate products and services to meet potential client needs, if necessary

4.2 Consider initial range of options and prepare for next contact

Skill 

Performance  Criteria 

Description 

Reading

1.1, 3.2, 4.1, 4.2

• Researches and analyses key features of detailed information from a range of sources to address specific criteria and develop recommendations

Writing

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

• Records information and prepares material for a specific audience using correct format, clear language and accurate spelling and grammar

Oral Communication

1.1, 1.2, 1.3, 2.1, 2.2, 3.1, 3.2

• Uses pace, intonation and gestures appropriate to the audience to present information, encourage engagement and finalise transactions
• Uses effective listening and questioning techniques to clarify and confirm understanding

Numeracy

1.1, 1.2, 2.2, 3.1, 3.2

• Uses mathematical calculations to compare and estimate numerical and financial information
• Collates and explains numerical and financial information appropriate to the audience and requirements

Navigate the world of work

1.3, 3.2

• Understands role and obligations in the context of legal rights, responsibilities and organisational expectations

Interact with others

1.1-1.3, 2.1, 2.2, 3.1, 3.2, 4.2

• Follows accepted communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of others
• Develops and implements communications strategies with prospective clients to build rapport and establish positive working relationships
• Uses collaborative techniques to engage prospective clients in consultations and negotiations

Get the work done

1.1, 3.2, 4.1, 4.2

• Uses systematic processes to develop plans to manage routine and non-routine tasks
• Responds to problems requiring immediate resolution, drawing on past experiences to focus on the cause of product or service issues or client resistance
• Uses a range of digital systems and tools to record, access, filter, extract, organise and present information to an acceptable standard

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSSAM403 Prospect for new clients

FNSSAM403A Prospect for new clients

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.