Unit of competency Outline
Date retreived
23/07/2026 8:17 AM AWST
23/07/2026 8:17 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.
Provide general advice on financial products and services
Provide general advice on financial products and services
Unit of competency
National Code
FNSIAD301A
FNSIAD301A
State Code
D4164
D4164
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
24/11/2011
Field of Education
080501 - Sales
Original Release Date
24/11/2011
Nominal Hours
30
Description
This unit describes the performance outcomes, skills and knowledge required to identify legislative and organisational boundaries on the provision of general advice on financial products and services and take appropriate approaches to providing such advice.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Establish relationship with client
- 1.1. Client enquiries are attended to in a timely and courteous manner
- 1.2. Active listening skills are demonstrated in dealing with client enquiries and help and assistance is provided to ensure the full and accurate completion of initial documentation where required
2. Identify client needs
- 2.1. Where applicable initial documentation is examined to determine the products and services of interest to the client
- 2.2. Clear and unambiguous communication is undertaken with the client to determine and clarify the products and services of interest to them
- 2.3. Clients are informed clearly on the regulatory restrictions on providing financial products advice
- 2.4. Clients are encouraged to disclose relevant information to determine their personal and financial situation and special needs
- 2.5. Requests for information, advice, products or services that fall outside the organisation's scope of operation are identified and the client informed where such information, advice, products or services can be obtained where possible
- 2.6. The range of products and services available are explained to the client in a clear and unambiguous way, avoiding jargon and in a language appropriate to the receiver
3. Identify general advice boundaries of product/service
- 3.1. The range of products and services of interest to the client are analysed to determine their categorisation is general advice in line with legislation and organisation policy
- 3.2. The client is referred to appropriate specialist personnel where requested advice is deemed to fall outside the category of general advice
4. Provide general advice to client
- 4.1. The client is assisted to make informed choices on products and services using relevant documentation
- 4.2. Advice is provided to the client in strict accordance with regulatory restrictions, organisation policy and organisational tools
- 4.3. Product knowledge appropriate for the service or advice offered is demonstrated when providing advice to the client
- 4.4. Recommendations are explained and discussed with the client in a clear and unambiguous way
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.
Enquiries may include,:
electronic communication
face-to-face enquiries
telephone enquiries
written communication.
Initial documentation may include, but is not limited to:
computer and manual application forms
disclaimers
disclosures
written advice.
Products and services of interest to the client
include:
specific products or services being offered by the organisation within the general advice category defined in relevant legislation.
Special needs include but are not limited to:
advice relating to their individual financial situation
age groups
people with a disability
the needs of people from different cultural backgrounds.
Legislation and organisation policy may include but is not limited to:
ASIC Act, policy and guidelines
organisation guidelines
organisation operating manuals
organisation policy manuals
relevant financial association's business rules and codes of conduct.
General advice:
is different to personal advice and has specific definition under the Financial Services Reform Act (FSRA).
Documentation may include:
brochures
costing manuals
in-house publications
legal, government, professional and other documents
operating guides
policy statements
procedures manuals
prospectuses
reports:
research
statistical
ad hoc
transaction
other
system specifications.
Organisational tools might include:
advice guides
brochures
computer prompts and systems
financial services guides
telephone or face-to-face scripts
training tools.
Product knowledge might include:
contract details
cooling-off periods
details on investment returns
guarantee periods
relevant interest rates.
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.
Enquiries may include,:
electronic communication
face-to-face enquiries
telephone enquiries
written communication.
Initial documentation may include, but is not limited to:
computer and manual application forms
disclaimers
disclosures
written advice.
Products and services of interest to the client
include:
specific products or services being offered by the organisation within the general advice category defined in relevant legislation.
Special needs include but are not limited to:
advice relating to their individual financial situation
age groups
people with a disability
the needs of people from different cultural backgrounds.
Legislation and organisation policy may include but is not limited to:
ASIC Act, policy and guidelines
organisation guidelines
organisation operating manuals
organisation policy manuals
relevant financial association's business rules and codes of conduct.
General advice:
is different to personal advice and has specific definition under the Financial Services Reform Act (FSRA).
Documentation may include:
brochures
costing manuals
in-house publications
legal, government, professional and other documents
operating guides
policy statements
procedures manuals
prospectuses
reports:
research
statistical
ad hoc
transaction
other
system specifications.
Organisational tools might include:
advice guides
brochures
computer prompts and systems
financial services guides
telephone or face-to-face scripts
training tools.
Product knowledge might include:
contract details
cooling-off periods
details on investment returns
guarantee periods
relevant interest rates.
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:
interpret and comply with relevant legislation supporting the provision of advice to clients
maintain current knowledge of products and services available to clients
create rapport with the client and analyse their needs to identify appropriate provision of advice.
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 financial services product information.
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
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:
interpret and comply with relevant legislation supporting the provision of advice to clients
maintain current knowledge of products and services available to clients
create rapport with the client and analyse their needs to identify appropriate provision of advice.
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 financial services product information.
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
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9722 | FNSICADV301B | Provide general advice on financial products and services | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR43 | FNSIAD301 | Provide general advice on financial products and services | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D702 | FNS30111 | Certificate III in Financial Services | Qualification |
| S697 | FNS30510 | Certificate III in General Insurance | Qualification |
| D704 | FNS30511 | Certificate III in General Insurance | Qualification |