Unit of competency Outline

Date retreived
23/07/2026 12:17 AM AWST

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Conduct complex financial planning research

Conduct complex financial planning research

Unit of competency
National Code
FNSFPL508
State Code
AUR38
TGA Status
Deleted
DTWD Status
Deleted
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
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to undertake research of a complex nature for use in the financial planning process. Research would involve plans for those with above average sums of money, with complex legal, regulatory or estate issues, or an above average range of products or plans for major clients.It applies to experienced individuals who use specialised knowledge and techniques to source, evaluate and synthesise complex information to solve problems and support the planning process.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. Evaluate client’s current situation and identify issues
  • 1.1 Undertake analysis of integrity of information provided by client
  • 1.2 Ensure client objectives and expectations are identified, quantified and tested for viability by authorised representative
  • 1.3 Establish basis for strategy development
2. Identify research requirements and parameters
  • 2.1 Establish aims and objectives of research, including strategy and product and performance parameters against client requirements and expectations
  • 2.2 Clearly establish intended use of research information
  • 2.3 Identify wide range of internal and external information resources
  • 2.4 Identify information requirements not met by regular sources and develop strategies to access them legitimately
  • 2.5 Establish timeframes and prioritise requests for information to ensure timelines are met
3. Extract and analyse information according to research requirements and parameters
  • 3.1 Establish data extraction criteria that are relevant to intended use and client requirements, and do not unduly limit scope of research
  • 3.2 Identify trends to provide meaningful information on performance of possible strategies, products and markets
  • 3.3 Undertake comprehensive risk assessment of products identified through research
  • 3.4 Analyse strategies and financial products within appropriate timeframes to ensure currency of decision making
  • 3.5 Prioritise information obtained according to client requirements and expectations
  • 3.6 Identify issues that require specialist research or advice, and source and obtain appropriate advice
4. Summarise and present results of research
  • 4.1 Collate information on financial products and check against research specification
  • 4.2 Prepare written performance, trend and risk analyses and check against research specification
  • 4.3 Describe and document any qualifications or issues for further research
  • 4.4 Present research findings to financial planner
No information
No information
Replaces
State Code National Code Title Type
D4146 FNSFPL508A Conduct complex financial planning research Unit of competency
State Code National Code Title Type
AWD6 FNS60415 Advanced Diploma of Financial Planning Qualification
AVX5 FNS50615 Diploma of Financial Planning Qualification