Assessment Requirements for FNSFPL603 Provide comprehensive monitoring and ongoing service

Release: 1

Assessment Requirements for FNSFPL603 Provide comprehensive monitoring and ongoing service

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

effectively monitor and assess the success of the financial plan

gain client agreement to or feedback on modifications and negotiate ongoing service agreements with clients

effectively document records of meetings and data on plan implementation and monitoring.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain the key features of the financial planning industry, financial products, financial markets, investment characteristics and the role of a financial adviser

describe the key features and discuss issues relating to:

corporations and consumer legislation

current financial legislation

government financial and superannuation policy

state and territory charges and taxes

codes of practice relating to the role of the financial planner

analyse the key features of sales and marketing media and methodologies to ensure it is in line with the provision of service to clients

identify and categorise fees and charges associated with ongoing services, and describe matters to be considered in fees and charges for services rendered

identify and categorise sources of information on current financial products and markets, including banks and other financial advisers

analyse best practice strategies for the ongoing monitoring and assessment of complex financial plans.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial planning field of work and include access to:

office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe