Unit of competency Outline

Date retreived
22/07/2026 8:00 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.

Prospect for new clients

Prospect for new clients

Unit of competency
National Code
FNSSAM403
State Code
AUS98
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
15
Description
This unit describes the skills and knowledge required to identify and contact potential client prospects using networks, leads and research skills as well as cold calling. Initial contact may happen over the phone or email, in person, at conferences and presentations, or through a variety of networking opportunities.It applies to individuals who provide specialised product knowledge and use a range of interpersonal, communication and promotional skills when interacting with clients.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 prospective client
  • 1.1 Carry out prospecting and provide general introduction to products, services, organisational values and experience to potential client through range of communication methods
  • 1.2 Use appropriate questioning and listening skills to determine prospective client’s understanding of financial processes
  • 1.3 Inform prospective client of role of advisers and organisation
2. Identify prospective client’s needs
  • 2.1 Encourage prospective client to express needs and goals
  • 2.2 Identify prospective client’s questions and concerns, and respond appropriately, in clear and unambiguous way and in manner consistent with prospect’s level of financial understanding
3. Secure commitment
  • 3.1 Probe reasons for resistance and identify and address in appropriate manner through strategy to manage resistance
  • 3.2 Use range of communication and interpersonal skills to gather prospect’s personal, financial and business details in accordance with relevant legislation, and map out next steps that will occur
4. Manage prospective client information
  • 4.1 Record prospect information in appropriate way and conduct additional product and service research to determine possible appropriate products and services to meet potential client needs, if necessary
  • 4.2 Consider initial range of options and prepare for next contact
No information
No information
Replaces
State Code National Code Title Type
D4318 FNSSAM403A Prospect for new clients Unit of competency
Replaced By
State Code National Code Title Type
OEB81 FNSSAM413 Identify and provide initial information to potential new clients Unit of competency