Present broking options to client with complex needs

Unit of competency Outline

Date retreived
22/07/2026 9:41 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.

Unit of competency

National Code
FNSFMB503

State Code
AUR10

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

080101 - Accounting

Original Release Date

16/09/2015

Nominal Hours

Description

This unit describes the skills and knowledge required to create rapport with clients with complex or special needs and present complex information to them, negotiating effectively and completing and maintaining required documentation, including a plan.It applies to individuals who use specialised knowledge and strong communication and interpersonal skills to convey and negotiate complex requirements.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. Develop rapport with clients

1.1 Address client needs and objectives in a manner consistent with their level of financial understanding and which directly applies to objectives and requirements they have disclosed
1.2 Demonstrate high level communication skills in dealings with clients, including those with special needs
1.3 Introduce services, strategies and recommendations using clear and unambiguous language that avoids jargon in both oral and written communication
1.4 Ensure disclosure of capacity to client is consistent with industry requirements and organisational guidelines

2. Present broking options to clients

2.1 Guide clients through broking options and clearly and comprehensively discuss the impact of each option including advantages, disadvantages, risks and financial implications, taking into account various assumptions or possibilities
2.2 Clearly explain fees, charges and commissions to clients and provide copies of research and other documentation
2.3 Disclose any commercial relationship of representative and their organisation to products and services mentioned in plan
2.4 Identify and address issues, based on professional judgement, that may require further consideration or consultation with other financial services professionals
2.5 Seek confirmation from clients that they understand broking options presented

3. Negotiate effectively

3.1 Identify and respond appropriately to any client concerns and present alternatives to recommendations when requested
3.2 Observe limits imposed by regulatory requirements or organisational guidelines
3.3 Maintain communication channels when dealing with complaints and follow complaint handling procedures
3.4 Obtain agreement to proceed from clients

4. Complete and maintain necessary documentation

4.1 Record client interaction in accordance with industry requirements
4.2 Provide confirmation including relevant documentation and contract variation to clients
4.3 Ensure instructing or purchasing documents, where required, are signed by clients
4.4 Clearly define post-broking service to be provided and communicate to clients

No information

Replaces

State Code	National Code	Title	Type
D4107	FNSFMB503A	Present broking options to client with complex needs	Unit of competency

Replaced By

State Code	National Code	Title	Type
OCZ67	FNSFMB513	Present credit options to clients with special financial circumstances	Unit of competency

State Code	National Code	Title	Type
AWC1	FNS50315	Diploma of Finance and Mortgage Broking Management	Qualification