Unit of competency Outline

Date retreived
23/07/2026 9:58 PM AWST

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Apply advanced techniques to provide financial products and services

Apply advanced techniques to provide financial products and services

Unit of competency
National Code
FNSSAM521
State Code
OEB78
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
45
Description
This unit describes the skills and knowledge required to develop and implement a promotional strategy for financial products and services using advanced techniques and to monitor and evaluate its success. This will involve building an innovative and effective promotional plan for a team.The unit applies to those who have responsibility and show leadership in initiating and developing strategic activities for a team or organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Establish financial products or services
  • 1.1 Identify client needs, requirements and expectations
  • 1.2 Identify suitable products or services according to client needs
2. Develop approach to providing products or services
  • 2.1 Identify organisational techniques and strategies for promoting identified products or services to clients
  • 2.2 Determine approach for promoting products or services according to client expectations
  • 2.3 Discuss, assess and revise approach with relevant stakeholders
  • 2.4 Develop advisor aids and train advisors and customer service representatives in approach for intended market segment
  • 2.5 Identify opportunities for providing ancillary products or services according to organisational policies and procedures, legislation and regulations
3. Implement, monitor and evaluate promotional approach
  • 3.1 Develop criteria for evaluating promotional approach
  • 3.2 Trial promotional approach and gather feedback
  • 3.3 Evaluate trial results and update approach
  • 3.4 Communicate updated approach to required stakeholders and obtain approval
  • 3.5 Review required data on product or service take up and plan
  • 3.6 Document results and determine future promotional strategies
No information
No information
Replaces
State Code National Code Title Type
OCZ15 FNSSAM511 Apply advanced techniques to sell financial products and services Unit of competency