This unit describes the function of providing financial information and advice to clients with regard to a variety of financial investment options.

This unit contains employability skills.

This unit describes the processes that are required to be undertaken when providing appropriate, timely information and advice to clients on a range of financial information. The unit of competency encompasses the processes of providing ongoing financial advice to clients.

Industry Capability- Delivery and Assessment

1.1 Client's expectations and needs are determined in

accordance with client requirements, company policies and guidelines, and with relevant legislation or industry codes of practice

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q4a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q4a

1.2 Appropriate strategies to meet client's needs and requirements are determined promptly and accurately

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q8a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q8a

1.3 Research is carried out and relevant research data is utilised where appropriate

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q5a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q5a

1.4 Specialist advice and assistance, where required, is sought and obtained promptly

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q10

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q10

1.5 Cost benefit analysis is carried out on the various strategies determined and is documented where appropriate

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q6b

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q6b

2.1 A range of investment options relevant to client

requirements and investment strategies is selected

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q8a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q8a

2.2 Features of the options, including potential impacts are explained in a clear, unambiguous way to clients

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q9c

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q9c

2.3 Relevant disclosures as required by legislation, industry codes of practice or company policies and guidelines are made to clients

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q9a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q9a

2.1 Confirmation is sought from clients that they understand the selected options, potential impacts and disclosures

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q11b

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q11b

2.2 Requirements to put the suggested options into effect are explained and agreement to proceed is obtained from clients

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q11a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q11a

2.3 Documentation, including suggested options, agreed investment strategies and confirmation of agreement is prepared promptly and accurately

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q9d

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q9d

2.4 Client records are updated and filed promptly

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q13

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q13

3.1 Ongoing rapport is maintained with clients

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q12c

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q12c

3.2 Client satisfaction and feedback is sought regarding service performance, portfolio performance and recommended investment strategies

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q12d

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q12d

4.1 Potential investment opportunities and/or provision of

additional/ongoing services are identified from a review of client records and feedback and external financial markets

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q12a

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q12a

4.2 Strategies to inform existing clients of additional/ongoing services and potential investment opportunities are identified and implemented

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q12b

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q12b

4.3 Client feedback on advertising/marketing strategies is sought to monitor the effectiveness of those strategies

All 10 assignments: a00s102t09L01-10 Managed Investments: Clients 1-10, Q12d

OR All 10 assignments: a00s102t10L01-10 Superannuation : Clients 1-10, Q12d

good communication and listening skills

relationship building

telephone skills

letter writing and record keeping

basic computer literacy

sales techniques

problem solving

organisational skills

time management skills

sound knowledge of local and international financial markets and investments

A20s010t04l01: Financial Institutions Q1-10

a20s010t04L02: Exchanges Q1-10

a20s010t04L03: Markets Q1-9

a20s010t04L04: Settlement And Clearing Houses Q1-11

a20s010t04L07: Brokers And Intermediaries Q1-9

a20s010t04L08: Fund Managers Q1-10

A10s032t16l00 Markets And Securities Q1-15

a15s005t01L00 Securities, Derivatives And Futures Markets

A03s001t01l06 Lack Of Diversification Q1-10

A14s001t01l00: Operation Of Superannuation Markets

A14s001t01l03: Role Of Regulators Q1-11

A14s001t01l09: Disclosure And Compliance

A14s001t01l10: Alternative Dispute Resolution Q1-12

A14s001t01l11: Superannuation Update Q1-20

a14s001t02L00: Management Of Superannuation Markets

A14s001t01l06: Roles Played By Intermediaries And Issuers Q1-10

business principles and law

A05s031t01l00: Contracts

A05s031t01l01: Contracts Q1-10

A05s031t01l02: Types Of Contracts Q1-11

A05s031t01l03: Terms Of Contracts Q1-10

A05s031t01l04: False And Misleading Information Q1-5

A05s031t01l05: Unfair Contracts Q1-8

A05s031t01l06: Broken Contracts Q1-7

A05s033t01l00: Agency

A05s033t01l01: Principal Q1-12

A05s033t01l02: Agent Q1-9

A05s033t01l03: Creating An Agency Q1-7

A05s033t01l05: Duties Of An Agent Q1-7

A05s033t01l06: Liability Of An Agent Q1-7

A05s033t01l07: Ending An Agency Q1-8

a40s104t01L00: Compliance

economic climate and outlook

A20s000t01l01: Economics Intro Q1-14

A20s000t01l02: Domestic Economy Q1-28

A20s000t01l03: The World Economy Q1-12

A20s000t01l04: Economics At The Industry Level Q1-11

relevant legislation and codes of practice

a40s104t01L00: Compliance Q1-na

a40s104t01L01: An Introduction to Compliance Q1-15

a40s104t01L02: Legislation Overview - Financial Services Reform Act 2001 Q1-20

a40s104t01L03: Legislation Overview - The Corporate Law Q1-20

a40s104t01L04: Economic Reform Program Q1-20

a40s104t01L05: The Australian Stock Exchange (ASX) Q1-20

a40s104t01L06: Regulators - ASIC Q1-20

a40s104t01L07: Regulators - APRA Q1-20

a40s104t01L08: Implementing Compliance Programs AS3806 Q1-20

a40s104t01L09: Industry Codes of Practice Q1-20

a40s104t01L10: Competency Compliance: ASICs PS146 Q1-15

a40s104t01L11: AFS Licensing Q1-20

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Manging Conflicts of Interest Q1-20

a40s104t01L16: Financial Requirements Q1-19

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L18: Responsible officers Q1-19

a40s104t01L19: Breach Reporting Q1-20

a40S105t01L01: What is money laundering Q1-10

a40S105t01L02: Existing Laws and the need for change Q1-10

a40S105t01L03: Introduction to the new laws Q1-10

a40S105t01L04: The effect of the new laws Q1-20

a40S105t01L05: Antimoney laundering and counter terrorism financing programs Q1-20

a40S105t01L06: Application of the new laws Q1-20

a40S105t01L07: Verification of the identity of an existing customer Q1-15

a40S105t01L08: Reporting obligations Q1-20

a40S105t01L09: Reporting obligations 2 - transactions and funds transfers Q1-20

a40S105t01L10: Reporting obligations 3 - Compliance reports Q1-15

a40S105t01L11: Electronic Funds Transfer Instructions 1 - Key Concepts Q1-30

a40S105t01L12: Electronic Funds Transfer Instructions 2 - Obligations And Exceptions Q1-30

a40S105t01L13: Record-keeping Requirements Q1-30

company policy/procedures/requirements

a40S105t01L13: Record-keeping Requirements Q1-30

a40S105t01L07: Verification of the identity of an existing customer Q1-15

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Manging Conflicts of Interest Q1-20

product/service terms and conditions

A13s001t01l00: Managed Funds

A13s001t01l01: What Is A Managed Investment Q1-10

A13s001t01l02: Advantages And Disadvantages Of Managed Investments Q1-10

A13s001t01l03: Regulatory Environment Q1-10

A13s001t01l04: Types Of Managed Investments Q1-10

A13s001t01l05: Fee Structures Q1-10

A13s001t01l06: Tax And Social Security Implications of managed funds Q1-10

A13s001t02l00: Unit Trusts

A13s001t02l01: Equity Trusts Q1-13

A13s001t02l02: Cash Management Trusts Q1-13

A13s001t02l03: Property Trusts Q1-9

A13s001t02l04: Mortgage Trusts Q1-10

A13s001t02l05: Public Securities (Fixed Interest Trusts) Q1-9

A13s001t03l00: Property Trusts;

A13s001t03l01: Concepts Of Collective Rights Q1-10

A13s001t03l02: Real Estate Investment Strategies; Q1-10

A13s001t03l03: Valuation Techniques; Q1-10

A13s001t03l04: Property Management Q1-10

A13s001t03l05: Regulatory And Legal Obligations Q1-10

A13s001t03l06: Taxation Implications Q1-10

a13s001t04L00: Other Managed Funds

a13s001t04L01: Equity Trusts, Q1-10

a13s001t04L02: Fixed Interest Trusts Q1-10

a13s001t04L03: Serviced Strata Schemes Q1-10

a13s001t04L04: Primary Production Schemes Q1-10

a13s001t04L06: Time-sharing Schemes Q1-10

a14s001t04L00: Types Of Products Used Q1-na

a14s001t04L01: Allocated Pensions Q1-10

a14s001t04L02: Advantages And Disadvantages Q1-10

a14s001t04L03: Annual Payments Q1-10

a14s001t04L04: Summary Of Rules Applying To Allocated Pension Q1-10

a14s001t04L05: Lifetime Complying Pensions Q1-12

a14s001t04L06: Term Complying Pensions Q1-17

a14s001t04L07: Rules For Complying Products Q1-20

A14s001t01l05: Characteristics And Structure Of A Superannuation Fund Q1-12

A14s001t01l07: Types Of Superannuation Funds Q1-10

A14s001t01l08: Adviser Fees And Commissions Q1-10

a14s001t03L00: Contributions Q1-na

a14s001t03L01: Superannuation Guarantee Q1-10

a14s001t03L02: Small Superannuation Amounts

a14s001t03L03: Personal Contributions Q1-10

a14s001t03L04: Etps Q1-

a14s001t03L05: Choice Of Fund Q1-10

a14s001t03L06: Splitting Superannuation On Divorce Q1-10

a14s001t03L07: Reasonable Benefits Limit Q1-10

a14s001t03L08: Contributions Surcharges Q1-10

a14s001t03L09: Spouse Contributions Q1-10

a14s001t04L00: Types Of Products Used Q1-na

a14s001t04L01: Allocated Pensions Q1-10

a14s001t04L02: Advantages And Disadvantages Q1-10

a14s001t04L03: Annual Payments Q1-10

a14s001t04L04: Summary Of Rules Applying To Allocated Pension Q1-10

a14s001t04L05: Lifetime Complying Pensions Q1-12

a14s001t04L06: Term Complying Pensions Q1-17

a14s001t04L07: Rules For Complying Products Q1-20

basic tax factors

a25s001t01L01: The Australian Taxation Systems Q1-15

a25s001t01L02: Income Tax Q1-15

a25s001t01L03: Deductions Q1-14

a25s001t01L04: Rebates Q1-15

a25s001t01L05: Goods And Services Tax Q1-30

a25s001t01L06: Fringe Benefits Tax Q1-28

a25s001t01L07: Capital Gains Tax Q1-10

a25s001t01L08: Who Pays Income Tax Q1-27

a25s001t01L09: Tax And Superannuation Contributions Q1-28

a25s001t01L10: Tax And Superannuation Benefits

a25s002t02L01: Shares Q1-30

a25s002t02L02: Real Estate Q1-30

a25s002t02L03: Interest Bearing Securities Q1-30

a25s002t02L04: Managed Investments Q1-30

a25s002t02L05: Effects Of Taxation On Financial Strategies Of Individuals And Entities Q1-30

a25s002t02L06: Salary Packaging Q1-30

a25s002t02L07: Superannuation Q1-30

a25s002t02L08: Fringe Benefits Q1-30

a25s002t02L09: Tax And Fixed Interest Markets Q1-30

a25s002t02L10: Tax And Managed Funds Q1-30

general sales and marketing techniques

analysing research reports

A03s001t01l00: Types Of Risk

A03s001t01l01: Mismatch Risk Q1-11

A03s001t01l02: Inflation Q1-9

A03s001t01l03: Interest Rate: Reinvestment, Market Volatility Q1-14

A03s001t01l04: Market Risk Q1-10

A03s001t01l05: Market Timing Q1-10

A03s001t01l06: Lack Of Diversification Q1-10

A03s001t01l07: Currency Q1-10

Client expectations and

needs

stock specific advice

portfolio advice

financial planning

no advice

speculative

long or short term risk/security of investment

beliefs about performance

Company policy and

guidelines

policies and procedures in relation to client service

advertising and marketing

product or service development

clerical

information technology and administrative systems

complaints and dispute resolution procedures

codes of practice

Relevant legislation and

codes of practice

relevant financial associations business rules and codes

of conduct

National Guarantee Funds Rules

Taxation Act

Consumer Credit Code

Privacy Act

Corporations Act

Contracts Law

Trade Practices Act

Trust Law

Consumer Affairs Act

Secrecy Laws

industry codes of practice

Clients

clients

shareholders

members

members of the public

companies and organisations

stockbrokers

trustees

agents

intermediaries

Investment options,

opportunities and/or strategies

equities

derivatives

money market facilities

portfolio management/administration

research

corporate advice

scrip lending

margin lending

discretionary accounts

tax factors

Disclosures

fees

charges

interest

Documentation

reference to all evidence/information considered

reasons for adopting/incorporating certain information in preference to other information

meeting notes

records of telephone conversations

memo's

program recommendations

advice

in house publications

prospectuses

bills

receipts

quotations

agreements

contracts or policy statements

reports (research/statistical/ad hoc/transaction/other)

legal/government/professional/other documents

official/general/other correspondence

Additional ongoing

service

daily

weekly

monthly

quarterly

annually

if and when required

Strategies to inform

existing clients

newsletters

mail outs

email

websites

networking

phone calls

seminars

Area

Training Package Specification

Gryphon Learning Implementation

To achieve competency in this unit, a person must be able to demonstrate ability to analyse client expectations, requirements and investment strategies

ability to develop a response to client investment strategies and agreed terms of business

knowledge of appropriate legislation

ability of developing rapport with clients

knowledge of strategies utilise to inform clients of ongoing services or potential investment opportunities

good interpersonal and communication skills

the ability to empathise and build rapport with clients by offering thorough and ongoing assistance with all requests for service or advice

thorough knowledge and application of compliance with company policies and guidelines, industry codes of practice and relevant legislation

As students use Gryphon Learning's courseware to study, they are presented with approximately 2,500 interactive questions allowing them to self-assess their knowledge and skills in this area. The results of these assessments are stored in Gryphon Learning's database, providing evidence of towards the required competencies and knowledge.

To validate this evidence, students are required to sit three supervised assessments involving assessment items drawn from those listed above. Students who have "cheated" by allowing others to study using their login would be most unlikely to satisfactorily complete the supervised tests.

Competence in this unit must be assessed over a period

of time in order to ensure consistency of performance

over the Range Statement and contexts applicable to the work environment.

As this unit is co-assessed with one of the ASIC competency units assessment is undertaken under the same conditions as for one of these units

This unit may be assessed independently.

This unit will always be coassessed with one of the ASIC competency units

For valid and reliable assessment of this unit, evidence

should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Assessment involves emailed essays, a range of interactive assessment items comprising both formative and summative assessment. Some of these summative assessments are supervised.

As part of the assessment, information is provided using Audio, Video, text and graphics. Student responses can involve

• Completion of simulated workplace documentation
• Completion of simulated processes
• Responses to multiple choice questions (e.g. clicking on documents to be given to clients)
• Manipulating and organising items on screen
• Responses to True/False questions
• Pointing to significant areas on charts or graphs

Assessment of performance requirements in this unit should be undertaken in an industry context and against industry defined Assessment Guidelines.

Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment or other appropriate means.

See assessment items and courseware listed above.

Under ASIC's Licensing rules, students who have not already demonstrated competency in this unit are not permitted to advise clients. Therefore, the assessment must involve a simulated environment.

This unit of Competency is offered as part of a course which is listed on the ASIC Training Register as Meeting the educational requirements for the minimum requirements for Advising on Derivatives.

To obtain a certificate stating students have met ASIC's requirements, students must demonstrate that they currently have these competencies. This complicates RPL. See the discussion of RPL in the Gryphon Learning Training Strategies Manual.

This unit may involve simulation equipment such as office

or computer equipment, facilities for workplace or simulated environment assessment may be required.

To complete this unit, students need a computer with adequate internet access. For minimum specifications see the Gryphon Learning Training Strategies Manual.

Most students are currently working in the finance industry (including those employed by Gryphon Learning), and therefore have access to a range of relevant resources (including product documentation.)

Others have accessed such resources from a range of sources, including their financial advisors, by subscription, using the internet and, (under some circumstances, from Gryphon Learning.)