Unit of competency Outline

Date retreived
22/07/2026 11:46 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.

Provide appropriate services, advice and products to clients

Provide appropriate services, advice and products to clients

Unit of competency
National Code
FNSIAD501
State Code
AUR30
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
080501 - Sales
Original Release Date
16/09/2015
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, including completing and maintaining necessary documentation and providing after sales service.It applies to individuals working within enterprises and job roles who are required to advise on Australian Securities and Investments Commission (ASIC) Tier I products 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. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Create rapport with clients
  • 1.1 Disclose capacity and capability to clients consistent with code of practice and legislative and regulatory requirements, and identify and respond appropriately to any client concerns
  • 1.2 Demonstrate active listening skills in dealings with clients and explain services to them orally or, if necessary, in writing in a clear and unambiguous way, avoiding jargon and in language appropriate to the receiver
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 using appropriate organisational tool such as a fact finder
  • 2.3 Identify clients’ short-term, medium-term and long-term objectives and investment risk profile using an appropriate fact finder
  • 2.4 Identify client preferences and concerns regarding options, using appropriate fact finder where applicable and priorities identified and agreed on
  • 2.5 Complete fact finder in accordance with code of practice
3. Analyse client needs, objectives and financial situation to identify appropriate solutions
  • 3.1 Use all information from fact finder process to analyse client needs and determine appropriate strategy to provide for identified needs and outcomes
  • 3.2 Seek specialist advice if required to address issues that professional judgement indicates may require further consideration
4. Present appropriate solutions to clients
  • 4.1 Explain and discuss recommendations and features of client advice record with clients in a clear and unambiguous way and demonstrate product knowledge appropriate for service or advice offered
  • 4.2 Disclose impact of key aspects of recommendations in a clear and concise manner, and guide clients through key aspects of client information brochure prior to signing proposal
  • 4.3 Explain requirements to put recommended program into effect to clients and provide copy of fact finder to clients if requested
  • 4.4 Seek confirmation from clients that they understand recommendations presented
  • 4.5 Assist clients to make informed choices using relevant documentation so that their needs and objectives are addressed, consistent with their budgetary constraints
  • 4.6 Obtain agreement in principle to proceed from clients
5. Negotiate effectively
  • 5.1 Explain decisions clearly to clients in accordance with company policy and assist them to make appropriate decisions regarding solutions to their needs and objectives
  • 5.2 Exercise restraint and composure when dealing with conflict situations involving clients
  • 5.3 Follow complaint handling procedures and maintain communication channels when dealing with complaints
6. Complete and maintain necessary documentation
  • 6.1 Complete proposal and other documents and, where appropriate, obtain sign off
  • 6.2 Create or update client records
  • 6.3 Complete contract variations where applicable
  • 6.4 Provide confirmation, including relevant documentation and contract variation, to clients and implement final plan
  • 6.5 Organise reference material in a form which facilitates the selection of appropriate products to meet client needs, and update on a regular basis
7. Provide after sales service
  • 7.1 Define and communicate after sales service to be provided to clients and execute as needed
  • 7.2 Periodically review fact finder, recommendations and client advice records
  • 7.3 Identify and act on any changes to clients’ situation since previous recommendations were made at subsequent reviews
  • 7.4 Act on areas of client dissatisfaction in an ethical and timely manner that addresses code of practice requirements
No information
No information
Replaces
State Code National Code Title Type
D4165 FNSIAD501A Provide appropriate services, advice and products to clients Unit of competency
Replaced By
State Code National Code Title Type
OEC14 FNSIAD511 Provide appropriate services, general advice and products to clients Unit of competency