Unit of competency Outline

Date retreived
22/07/2026 8:31 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.

Extract and analyse information on specified financial strategies and products

Extract and analyse information on specified financial strategies and products

Unit of competency
National Code
FNSFPL401A
State Code
D4136
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
24/11/2010
View on TGA
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081105 - Investment And Securities
Original Release Date
29/07/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to research information on specified financial products and strategies for use in the financial planning process.It encompasses interpreting research requirements, researching financial products and strategies, summarising research information and contributing to financial plan recommendations.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so the varying State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Interpret research requirements
  • 1.1. Client information and objectives are reviewed and quantified and research topics are established
  • 1.2. Specifications of products and/or services to be researched are checked with a senior financial planner
  • 1.3. Aims and objectives of the research are clearly established and understood and measured against client requirements and expectations
  • 1.4. Timeframes are established and requests prioritised to ensure available information is useable and justifiable
2. Research financial products and strategies to set guidelines
  • 2.1. Data extraction criteria are relevant to intended use and client requirements
  • 2.2. Trends are identified to provide meaningful information on strategies and product performance
  • 2.3. Risk identification is made for researched strategies and products
  • 2.4. Financial products and strategies are analysed within appropriate timeframes to ensure currency of decision making
  • 2.5. Issues that require specialist and/or independent research or advice are identified
3. Summarise research information and contribute to recommendations
  • 3.1. Information on financial strategies and products is collated, prioritised and checked against research specification
  • 3.2. Research is analysed for completeness and assessed for relevant implications of the information
  • 3.3. Written performance, trend and risk analyses are prepared and checked against research specification
  • 3.4. Any qualifications or issues for further research are defined and recorded
  • 3.5. Recommendations are contributed to the financial planning process according to organisation procedures and guidelines
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Timeframe considerations may include:
competitors
legislative and regulatory requirements
market cycles
marketing strategy
procedures revision
release dates.
Information may include factors such as:
codes of practice
economic data
environmental considerations
internal comparisons
market situation
political situation
regulatory environment
social environment.
Research may be:
external
internal.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply knowledge of relevant legislation and industry codes of conduct
interpret research requirements and research financial products and strategies to set guidelines
summarise research information and contribute to recommendations.

Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
internet access.

Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills which may include formal examinations
setting and reviewing workplace projects and business simulations/scenarios
evaluating samples of work
accessing and validating third party reports.

Guidance information for assessment
Replaces
State Code National Code Title Type
C9691 FNSFPLN401B Extract and analyse information on specified financial strategies and products to set guidelines Unit of competency
Replaced By
State Code National Code Title Type
AUX20 FNSFPL401 Extract and analyse information on specified financial strategies and products Unit of competency