Unit of competency Outline
Date retreived
23/07/2026 2:34 AM AWST
23/07/2026 2:34 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 general advice on financial products and services
Provide general advice on financial products and services
Unit of competency
National Code
FNSIAD311
FNSIAD311
State Code
OEC12
OEC12
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080501 - Sales
Original Release Date
07/12/2022
Nominal Hours
30
Description
This unit describes the skills and knowledge required to identify legislative and organisational boundaries on the provision of general advice on financial products and services and take the required approaches to providing such advice.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. Identify customer needs and advisor authority level
- 1.1 Seek information from customers relevant to provision of general advice
- 1.2 Identify advice authority level allocated to adviser by organisation
- 1.3 Inform customer of regulatory restrictions and scope of factual information and general advice to be provided according to organisational policies and procedures, legislative and regulatory requirements, and confirm customer understanding
2. Identify scope of general advice and confirm products or services are appropriate
- 2.1 Determine products and services of interest to customer
- 2.2 Discuss options with customer and clarify products and services of interest to them
- 2.3 Analyse range of products and services of interest to customers and determine that they fit into the remit of general advice
- 2.4 Identify requests for information, advice, products or services that fall outside organisation’s scope of operation or adviser’s advice authority and inform customers where information, advice, products or services can be obtained, as required
3. Provide general advice to customers
- 3.1 Provide fact-based general advice to customers according to regulatory restrictions and organisational policies and procedures
- 3.2 Provide general advice warning as required according to regulatory restrictions and organisational policies and procedures
- 3.3 Provide further fact-based guidance on product or service to customer as required
- 3.4 Explain general advice recommendations with customer
- 3.5 Identify method of storing customer information according to organisational policies and procedures and legislative and regulatory requirements
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR43 | FNSIAD301 | Provide general advice on financial products and services | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BHT6 | FNS30122 | Certificate III in Financial Services | Qualification |