Unit of competency Outline
Date retreived
22/07/2026 2:40 PM AWST
22/07/2026 2:40 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.
Provide technical and professional guidance
Provide technical and professional guidance
Unit of competency
National Code
FNSFPL601A
FNSFPL601A
State Code
D4147
D4147
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/05/2011
Field of Education
081105 - Investment And Securities
Original Release Date
31/05/2011
Nominal Hours
40
Description
This unit describes the performance outcomes, skills and knowledge required to provide technical and professional guidance in a financial planning practice. It encompasses mentoring staff in the practice, providing technical information to staff and peers and acting as a practice reference for any special areas of expertise.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Provide technical guidance to other staff in the practice
- 1.1. Technical guidance and advice, appropriate to skill level and need, is provided to other financial planners, trainee financial planners and para-planners to assist in the development of financial plans
- 1.2. Technical advice and assistance is provided to administrative and processing staff when required
- 1.3. Specialists with appropriate advanced technical competency are used as a point of reference when required
- 1.4. Potential problems are recognised before they develop and precautionary steps are taken to prevent them
- 1.5. Ethical behaviour requirements are modelled and communicated to staff and peers
2. Provide technical and professional information to staff and peers
- 2.1. Information obtained by representatives that is relevant to staff and peers is circulated for development purposes
- 2.2. Opportunities are provided to staff for feedback and queries on circulated information
3. Act as practice reference for any special areas of expertise
- 3.1. Staff briefings or training sessions in representative's area of expertise are established
- 3.2. Skill development exercises for individual staff are developed and delivered as required
- 3.3. Market, product, legislative and regulatory changes in special areas of expertise are monitored for development purposes
- 3.4. Practice information and skill requirements in special areas of expertise are monitored and addressed
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.
Ethical behaviour includes but is not limited to:
arrangements for vulnerable or special needs clients
avoiding conflicts of interest
compliance with client instructions
compliance with industry codes of practice
compliance with legislative and regulatory requirements
disclosure of all fees, charges, commissions, special interests and relationships relevant to a client's financial plan.
Products include but are not limited to:
cash deposits
derivatives
direct investments
equities
futures
insurance products
managed investments
superannuation.
Relevant legislative and regulatory requirements may include:
Australian Securities and Investments Commission (ASIC) Act, policy and guidelines
Consumer Affairs Act
Consumer Credit Code
contract law
Corporations Act
industry codes of practice
Insurance Act
Life Insurance Act
Privacy Act
social security regulations
State and Territory legislation
Taxation Acts
Trade Practices Act
trust law
other legislation or regulation which impacts on financial planning.
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.
Ethical behaviour includes but is not limited to:
arrangements for vulnerable or special needs clients
avoiding conflicts of interest
compliance with client instructions
compliance with industry codes of practice
compliance with legislative and regulatory requirements
disclosure of all fees, charges, commissions, special interests and relationships relevant to a client's financial plan.
Products include but are not limited to:
cash deposits
derivatives
direct investments
equities
futures
insurance products
managed investments
superannuation.
Relevant legislative and regulatory requirements may include:
Australian Securities and Investments Commission (ASIC) Act, policy and guidelines
Consumer Affairs Act
Consumer Credit Code
contract law
Corporations Act
industry codes of practice
Insurance Act
Life Insurance Act
Privacy Act
social security regulations
State and Territory legislation
Taxation Acts
Trade Practices Act
trust law
other legislation or regulation which impacts on financial planning.
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:
maintain in-depth knowledge of the financial planning industry, industry regulations and codes of practice and provide technical and professional guidance to others within the organisation
interpret financial product, financial markets and investment characteristics
assess impacts of taxation, superannuation, social security, economic and other government policies on client investment and financial requirements
apply knowledge of sales and marketing media and methodologies
maintain industry contacts and manage own professional development activities
act as a practice reference for special areas.
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.
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
observing processes and procedures in workplaces or role plays
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
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:
maintain in-depth knowledge of the financial planning industry, industry regulations and codes of practice and provide technical and professional guidance to others within the organisation
interpret financial product, financial markets and investment characteristics
assess impacts of taxation, superannuation, social security, economic and other government policies on client investment and financial requirements
apply knowledge of sales and marketing media and methodologies
maintain industry contacts and manage own professional development activities
act as a practice reference for special areas.
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.
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
observing processes and procedures in workplaces or role plays
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
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR49 | FNSFPL601 | Provide technical and professional guidance | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S737 | FNS60410 | Advanced Diploma of Financial Planning | Qualification |