Unit of competency Outline

Date retreived
23/07/2026 1:36 AM 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.

Provide appropriate services, general advice and products to clients

Provide appropriate services, general advice and products to clients

Unit of competency
National Code
FNSIAD511
State Code
OEC14
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080501 - Sales
Original Release Date
07/12/2022
Nominal Hours
120
Description
This unit describes the skills and knowledge required to create rapport with clients; identify and analyse their needs, objectives and financial situation; and identify and present appropriate solutions. It involves completing and maintaining necessary documentation and providing after sales service.The unit applies to individuals working in organisations and job roles that provide general advice on relevant financial products as deemed by the Australian Securities and Investments Commission (ASIC), such as term deposits and personal, sickness and accident insurance products.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.
Notes
Elements and Performance Criteria
1. Create rapport with clients
  • 1.1 Disclose own capacity and capability to client according to code of practice and legislative and regulatory requirements
  • 1.2 Identify and respond appropriately to any client concerns
  • 1.3 Explain services available to client
2. Identify client needs, objectives and financial situation
  • 2.1 Encourage clients to express and clarify their attitudes, views, feelings and objectives
  • 2.2 Collect relevant personal, financial and business details from clients
  • 2.3 Identify clients’ short-term, medium-term and long-term objectives and investment risk profile as required
  • 2.4 Identify client preferences and concerns regarding options, as required
  • 2.5 Obtain and complete file notes, fact finder and client questionnaire according to regulatory requirements and organisational policies and procedures
3. Analyse client needs, objectives and financial situation and identify appropriate solutions
  • 3.1 Analyse client needs based on information obtained
  • 3.2 Determine appropriate strategy to provide for identified needs and outcomes
  • 3.3 Seek specialist advice as required
4. Present appropriate solutions to clients
  • 4.1 Explain and discuss recommendations and provide required product information to client according to organisational policies and procedures
  • 4.2 Disclose impact of key aspects of recommendations as required, according to organisational policies and procedures and legislative and regulatory requirements
  • 4.3 Explain requirements to put recommended program into effect and provide copies of relevant documentation to client as required
  • 4.4 Confirm client understands recommendations presented
  • 4.5 Confirm client decision is informed, addresses their needs and objectives, and is consistent with their budgetary constraints
  • 4.6 Obtain agreement in principle from client to proceed
5. Identify and resolve client concerns
  • 5.1 Explain decisions to client according to organisational policies and procedures and assist them to make appropriate decisions regarding solutions for needs and objectives
  • 5.2 Demonstrate composure with client when dealing with conflicts and address cause of issue to satisfy client needs
  • 5.3 Follow complaints-handling procedures and maintain communication channels when dealing with complaints, as required
6. Complete and maintain necessary documentation
  • 6.1 Complete proposal and other documents and obtain sign-off as required and according to organisational policies and procedures
  • 6.2 Create or update client records
  • 6.3 Complete contract variations as required
  • 6.4 Provide relevant documentation or contract variation confirmation to client
  • 6.5 File documentation for reference and update as required
7. Provide post-service support where requested by client
  • 7.1 Define and communicate ongoing service to be provided to client and execute as needed
  • 7.2 Review and establish processes for ongoing reviews of client needs, recommendations and client advice record
  • 7.3 Identify and act on any changes since previous recommendations were made
  • 7.4 Act on areas of client dissatisfaction according to organisational policies and procedures and legislative and regulatory requirements
No information
No information
Replaces
State Code National Code Title Type
AUR30 FNSIAD501 Provide appropriate services, advice and products to clients Unit of competency