Unit of competency Outline

Date retreived
23/07/2026 5:51 PM AWST

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Tailor financial products to meet customer needs

Tailor financial products to meet customer needs

Unit of competency
National Code
FNSSAM603
State Code
AUT02
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes skills and knowledge required to match financial products on offer to customer requirements based on an in-depth knowledge of the products and a comprehensive knowledge of customers’ characteristics and their financial requirements.It applies to individuals who, within their level of authority, use specialised knowledge and analytical skills to make judgements and provide customised recommendations and solutions.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Access information needed to determine fit between financial product and customer
  • 1.1 Gather and assess information on customer profile and requirements, characteristics, financial status, timelines and other needs
  • 1.2 Consider and, if necessary, research most appropriate products and services used or provided by organisation based on customer stated requirements in terms of features, benefits, terms and conditions, and other factors
2. Determine most suitable options to meet customer requirements
  • 2.1 Determine most suitable option, or number of options, for discussion and recommendation with customer
  • 2.2 Establish and document customer negotiation periods in line with organisational policy and relevant legislative requirements
  • 2.3 Discuss options with manager or other appropriate personnel, if necessary
3. Present selected options to customer
  • 3.1 Present options to customer and explain all features, benefits, negotiation periods, and terms and conditions
  • 3.2 Provide customer with further information if requested and answer all questions
  • 3.3 Provide customer with all support needed to clarify information presented
  • 3.4 Seek additional information where relevant to determine whether there are other needs that could be met by organisation
No information
No information
Replaces
State Code National Code Title Type
D4324 FNSSAM603A Tailor financial products to meet customer needs Unit of competency
Replaced By
State Code National Code Title Type
OCZ11 FNSSAM613 Tailor financial products to meet client needs Unit of competency