Unit of competency Outline

Date retreived
23/07/2026 4:44 AM AWST

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Tailor financial products to meet client needs

Tailor financial products to meet client needs

Unit of competency
National Code
FNSSAM613
State Code
OCZ11
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081105 - Investment And Securities
Original Release Date
22/04/2021
Nominal Hours
50
Description
This unit describes skills and knowledge required to match financial products on offer to customer requirements based on an in-depth knowledge of the products and a comprehensive knowledge of customers’ characteristics and their financial requirements.The unit applies to those who, within their level of authority, use specialised knowledge and analytical skills to make judgements and provide customised recommendations and solutions.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Obtain information and identify financial products
  • 1.1 Gather and evaluate client requirements, characteristics, financial status and needs
  • 1.2 Research and identify potential products provided by organisation according to client requirements
2. Present product options
  • 2.1 Present and discuss products with client according to organisational policies and procedures
  • 2.2 Explain features, benefits, negotiation periods and salient terms
  • 2.3 Obtain client expectations and update products as required
  • 2.4 Document negotiation periods according to organisational policies and procedures
3. Finalise products
  • 3.1 Select final products and present to client
  • 3.2 Provide customer with further information as required
  • 3.3 Identify and resolve queries and concerns according to organisational policies and procedures
  • 3.4 Provide support to clients and confirm understanding of information presented
  • 3.5 Confirm client agreement and finalise documentation according to organisational policies and procedures
No information
No information
Replaces
State Code National Code Title Type
AUT02 FNSSAM603 Tailor financial products to meet customer needs Unit of competency