^

 
 

Unit of competency details

FNSSAM413 - Identify and provide initial information to potential new clients (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNSSAM403 - Prospect for new clientsSupersedes and is equivalent to FNSSAM403 Prospect for new clients. 14/Jun/2022

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 15/Jun/2022


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  15/Jun/2022 
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form

Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with the FNS Financial Services Training Package Version 8.0.

Supersedes and is equivalent to FNSSAM403 Prospect for new clients.

Application

This unit describes the skills and knowledge required to identify and establish rapport with potential client prospects using networks, leads and research skills.

The unit applies to individuals who provide specialised product knowledge and use a range of interpersonal, communication and promotional skills when interacting with clients. Initial contact may happen over the phone or email, in person, at conferences and presentations, or through a variety of networking opportunities.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.

Unit Sector

Sales and marketing

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. Create rapport with prospective client

1.1 Connect with prospective clients using existing networks, leads, and research skills

1.2 Provide general introduction to own organisation and values, role of advisers, and experience to potential client

1.3 Provide information about available products and services

2. Identify prospective client’s needs and gather information

2.1 Identify prospective client’s needs and goals

2.2 Identify prospect’s personal, financial and/or business details according to legislative and regulatory requirements

3. Respond to client questions and gather information

3.1 Identify and respond to prospective client’s questions and concerns

3.2 Inform client of next steps, and expected timeframes

3.3 Confirm whether client would like to proceed, and initiate next steps, as required

4. Manage prospective client information

4.1 Evaluate initial range of options and prepare for next contact

4.2 Record client’s needs and relevant information according to organisational policies and procedures

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.

SKILL 

DESCRIPTION 

Numeracy

  • Collates and explains numerical and financial information appropriate to audience and requirements

Oral communication

  • Uses pace, intonation and gestures appropriate to audience to present information, encourage engagement and finalise transactions
  • Uses effective listening and questioning techniques to clarify and confirm understanding
  • Follows accepted communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of others

Numeracy

  • Collates and explains numerical and financial information appropriate to audience and requirements

Reading

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

Writing

  • Records information and prepares material using correct format, clear language and accurate spelling and grammar

Problem solving

  • Responds to problems requiring immediate resolution, drawing on past experiences to focus on the cause of product or service issues or client resistance

Technology

  • Uses the main features and functions of digital systems and tools to record, access, filter, extract, organise and present information to an acceptable standard

Unit Mapping Information

Supersedes and is equivalent to FNSSAM403 Prospect for new clients.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version first released with the FNS Financial Services Training Package Version 8.0.

Supersedes and is equivalent to FNSSAM403 Prospect for new clients.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • prospect for, and manage information for, at least two different new clients.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • organisational policies and procedures, and legislative and regulatory requirements relevant to prospecting for new clients
  • organisational financial products and services, including their strengths and weaknesses
  • key features of lead generation and prospecting techniques.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • financial services product information
  • relevant software system and data
  • organisational policies and procedures
  • office equipment, technology, software systems and its relevant data and consumables.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe