Unit of competency Outline

Date retreived
22/07/2026 10:27 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.

Present broking options to client

Present broking options to client

Unit of competency
National Code
FNSFMB403
State Code
AUR02
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
20
Description
This unit describes the skills and knowledge required to collect information, conduct relevant research and develop and present broking options to clients. It applies to individuals who use analytical skills and effective communication and negotiation skills to clearly present financial information to a range of individuals with varying needs.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. Gather relevant information
  • 1.1 Review lender products, services and features, and research additional industry information where necessary for relevant lender products and services that could suit client needs
  • 1.2 Acknowledge and compare client needs to most appropriate lender product and service
2. Prepare appropriate options
  • 2.1 Gather relevant lender information, product information and support material
  • 2.2 Organise all information clearly and concisely, in a manner appropriate to client needs and level of understanding
3. Present options to clients
  • 3.1 Explain each suitable product option and its features to clients in a clear and unambiguous way
  • 3.2 Discuss impact of each option clearly and comprehensively with clients, including benefits and risks
  • 3.3 Explain fees, charges and commissions clearly to clients
  • 3.4 Communicate to clients the strategic and commercial relationship of representative and organisation with each product provider
4. Negotiate effectively
  • 4.1 Identify and respond appropriately to client concerns, if any, and present alternatives when required
  • 4.2 Support clients to make informed choice using relevant information and documentation presented
5. Obtain agreement to proceed
  • 5.1 Obtain agreement to proceed from client once concerns and issues are resolved
  • 5.2 Discuss, clarify and confirm implementation actions between client and broker
  • 5.3 Create or appropriately update client records in a clear and concise format in anticipation for preparation of loan application
No information
No information
Replaces
State Code National Code Title Type
D4104 FNSFMB403A Present broking options to client Unit of competency
Replaced By
State Code National Code Title Type
OCZ73 FNSFMB412 Identify client needs and present broking options Unit of competency