Unit of competency Outline
Date retreived
22/07/2026 3:30 PM AWST
22/07/2026 3:30 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.
Establish or review marketing, client services and supplier relationships
Establish or review marketing, client services and supplier relationships
Unit of competency
National Code
FNSPRM605A
FNSPRM605A
State Code
D4308
D4308
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/07/2014
Field of Education
080303 - Human Resource Management
Original Release Date
31/07/2014
Nominal Hours
80
Description
This unit describes the performance outcomes, skills and knowledge required to establish or review marketing, client services and supplier relationships which support the provision of professional services to clients.This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Establish or review marketing
- 1.1. Marketing strategy is established or reviewed and marketing tools developed and made available within budget and timelines
- 1.2. Marketing strategy is confirmed and implemented across the organisation or business unit
2. Established or review supplier relationship
- 2.1. Criteria to enable an effective evaluation of supplier services are established and all existing suppliers assessed against the criteria
- 2.2. Availability and suitability of alternate suppliers who can meet the service support requirements within legislative requirements are identified and analysed
- 2.3. Terms of appointment of suppliers to achieve service support requirements are established and relationships with suppliers maintained and developed
3. Establish or review client services
- 3.1. Client services are determined which will meet client expectations, are within enterprise policy and philosophy, and meet industry legislative requirements
- 3.2. Key performance indicators to measure customer service are established and existing client services reviewed against these and improved where required
- 3.3. Service standards are documented in the prescribed format and communicated to all stakeholders
- 3.4. Services are delivered within the timeframe and budget
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.
Marketing tools (that may be impacted by regulation) include:
advertising
brochures and sales aids
client base development
direct marketing
focus groups
in-house publications
lead generation
market surveys
product marketing
public relations activities
reports
specialist contact software
sponsorship
telemarketing
using compliance materials.
Suppliers include:
accountants
actuaries
auditors
consultants
fund administrators
IT specialists
insurance companies
investment managers
legal professionals
other financial planning practices
risk managers
sales and marketing specialists
solicitors.
Supplier terms of appointment can be:
formal
informal.
Client services may be pre, point of, or post sale and may include:
appropriate personal contact
complaints handling
enquiries
policy changes
records management
reports
timely and accurate documentation
written communication.
Service standards may include:
accuracy rates
completion dates
data availability
document presentation
procedures
response times
staff communication.
Methods of communication may include:
at meetings
electronic
in writing
individual and group
verbal.
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.
Marketing tools (that may be impacted by regulation) include:
advertising
brochures and sales aids
client base development
direct marketing
focus groups
in-house publications
lead generation
market surveys
product marketing
public relations activities
reports
specialist contact software
sponsorship
telemarketing
using compliance materials.
Suppliers include:
accountants
actuaries
auditors
consultants
fund administrators
IT specialists
insurance companies
investment managers
legal professionals
other financial planning practices
risk managers
sales and marketing specialists
solicitors.
Supplier terms of appointment can be:
formal
informal.
Client services may be pre, point of, or post sale and may include:
appropriate personal contact
complaints handling
enquiries
policy changes
records management
reports
timely and accurate documentation
written communication.
Service standards may include:
accuracy rates
completion dates
data availability
document presentation
procedures
response times
staff communication.
Methods of communication may include:
at meetings
electronic
in writing
individual and group
verbal.
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:
identify and address factors which may affect the marketing and performance of client services and assess risks and benefits associated with using a range of products and services within a practice
review suppliers and establish and maintain the required level of service
evaluate business systems against practice requirements and make recommendations
apply cost-benefit analyses to systems and procedures.
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
access to relevant legislation, regulations and codes of practice.
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
setting and reviewing workplace projects and business simulations/scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
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:
identify and address factors which may affect the marketing and performance of client services and assess risks and benefits associated with using a range of products and services within a practice
review suppliers and establish and maintain the required level of service
evaluate business systems against practice requirements and make recommendations
apply cost-benefit analyses to systems and procedures.
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
access to relevant legislation, regulations and codes of practice.
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
setting and reviewing workplace projects and business simulations/scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS65 | FNSPRM605 | Establish or review marketing, client services and supplier relationships | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S739 | FNS60610 | Advanced Diploma of Banking Services Management | Qualification |
| J604 | FNS60513 | Advanced Diploma of Superannuation | Qualification |