Unit of competency Outline
Date retreived
21/07/2026 11:21 PM AWST
21/07/2026 11:21 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Analyse financial market products for client
Analyse financial market products for client
Unit of competency
National Code
FNSFMK502A
FNSFMK502A
State Code
D4124
D4124
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/07/2014
Field of Education
080101 - Accounting
Original Release Date
31/07/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to accurately assess client needs, conduct analysis of financial market products to their specific requirements and expectations, and provide advice and recommendations.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Identify client needs
- 1.1. Client information is accessed, and consultative processes are conducted to review and quantify client objectives, needs and expectations
- 1.2. Appropriate communication and interpersonal skills are used to establish rapport and promote positive client adviser interaction
- 1.3. Specialist advice is sought, as required, where it is identified or anticipated that clients have a complexity of needs or problems
- 1.4. Appropriate techniques are used to accurately assess client requirements and strategies developed to meet client needs and outcomes
2. Conduct analysis of financial market products
- 2.1. Information relevant to the range of available financial products is sourced and assessed for currency and accuracy
- 2.2. Appropriate analytical techniques and processes are applied to identify facts, issues and patterns, inter-relationships and trends
- 2.3. Trends are accurately analysed to provide meaningful information on the performance of financial products and markets
- 2.4. Risk assessment is conducted of possible financial strategies and products identified through research and analysis processes
3. Provide advice and recommendations
- 3.1. Performance, trend and risk analyses are collated and reviewed to ensure accuracy and thoroughness, and presented in an appropriate format, style and structure
- 3.2. Recommendations are supported by evidence, and advice is consistent with relevant legislative, industry and organisational requirements
- 3.3. Features and benefits of recommended financial products are clearly described to client and meet client requirements and expectations
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Information to be obtained from the client may include:
cash flows
required
projected
details of the client's needs and objectives for:
income
security
liquidity
time period
individual investment preferences including any aversion or tolerance to risk
other client details such as:
employment security
likely events and their impact on the client
age
other products they have
relevant personal, financial and business details.
Client objectives may include:
business needs
debt position
expectations of access to products
expectations of income from this product
expectations of life cycle and length of product
family income.
Establishing rapport may include:
establishing knowledge level of the client
explaining fee and charging methodology
explaining the adviser's role
explaining the procedures for complaint handling
explaining the services offered.
Adviser may include:
all natural persons who provide financial product advice to retail clients
any representative of a licensee
employee or owner.
Appropriate techniques to accurately assess client needs may include:
listening actively to what the client is saying and requesting
providing an opportunity for the client to confirm or rephrase the request
questioning to clarify and confirm the client's needs
rewording the requests to ensure complete understanding of needs.
Range of available financial market products may include:
capital markets
cash
commodities:
hard
soft
derivatives:
forward rate agreements
swaps
options
futures
electricity contracts
foreign exchange
government bonds
managed funds
negotiable or transferable instruments
reciprocal purchase agreements
securities:
debt
equity.
Legislation may include:
Banking Act
Commonwealth Criminal Code
Corporations Act
Financial Corporations Act
Financial Services Reform Act (FSRA)
Financial Transaction Reports Act
Privacy Amendment Act (Private Sector)
Reserve Bank Act
Taxation Act
Trade Practices Act.
Organisational requirements may be outlined and reflected in:
access and equity principles and practices guidelines
business and performance plans
complaints and dispute resolution procedures
ethical standards, codes of practice
goals, objectives, plans, systems and procedures
legal and organisational policy/guidelines
mission Statements, strategic plans
policies and procedures in relation to client services
product or services development
quality and continuous improvement process and standards
quality assurance or procedures manuals.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Information to be obtained from the client may include:
cash flows
required
projected
details of the client's needs and objectives for:
income
security
liquidity
time period
individual investment preferences including any aversion or tolerance to risk
other client details such as:
employment security
likely events and their impact on the client
age
other products they have
relevant personal, financial and business details.
Client objectives may include:
business needs
debt position
expectations of access to products
expectations of income from this product
expectations of life cycle and length of product
family income.
Establishing rapport may include:
establishing knowledge level of the client
explaining fee and charging methodology
explaining the adviser's role
explaining the procedures for complaint handling
explaining the services offered.
Adviser may include:
all natural persons who provide financial product advice to retail clients
any representative of a licensee
employee or owner.
Appropriate techniques to accurately assess client needs may include:
listening actively to what the client is saying and requesting
providing an opportunity for the client to confirm or rephrase the request
questioning to clarify and confirm the client's needs
rewording the requests to ensure complete understanding of needs.
Range of available financial market products may include:
capital markets
cash
commodities:
hard
soft
derivatives:
forward rate agreements
swaps
options
futures
electricity contracts
foreign exchange
government bonds
managed funds
negotiable or transferable instruments
reciprocal purchase agreements
securities:
debt
equity.
Legislation may include:
Banking Act
Commonwealth Criminal Code
Corporations Act
Financial Corporations Act
Financial Services Reform Act (FSRA)
Financial Transaction Reports Act
Privacy Amendment Act (Private Sector)
Reserve Bank Act
Taxation Act
Trade Practices Act.
Organisational requirements may be outlined and reflected in:
access and equity principles and practices guidelines
business and performance plans
complaints and dispute resolution procedures
ethical standards, codes of practice
goals, objectives, plans, systems and procedures
legal and organisational policy/guidelines
mission Statements, strategic plans
policies and procedures in relation to client services
product or services development
quality and continuous improvement process and standards
quality assurance or procedures manuals.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
accurately identify clients needs for an assessment of their financial requirements, specific objectives, needs and expectations
conduct analysis of a range of financial markets products in order to provide effective advice and recommendations
interpret and comply with legislative and organisational requirements
test and assess the integrity of financial information for risk, viability and effectiveness and the impact of trends on strategy and product performance
provide correct and up-to-date advice on features and benefits of financial products and or services within designated timeframes.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial services product information
access to financial markets databases.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
accurately identify clients needs for an assessment of their financial requirements, specific objectives, needs and expectations
conduct analysis of a range of financial markets products in order to provide effective advice and recommendations
interpret and comply with legislative and organisational requirements
test and assess the integrity of financial information for risk, viability and effectiveness and the impact of trends on strategy and product performance
provide correct and up-to-date advice on features and benefits of financial products and or services within designated timeframes.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial services product information
access to financial markets databases.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR13 | FNSFMK502 | Analyse financial market products for client | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D727 | FNS60711 | Advanced Diploma of Financial Licensing Management | Qualification |
| D722 | FNS51011 | Diploma of Financial Markets | Qualification |
| S737 | FNS60410 | Advanced Diploma of Financial Planning | Qualification |