Unit of competency Outline

Date retreived
22/07/2026 9:05 PM AWST

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Provide advice in securities

Provide advice in securities

Unit of competency
National Code
FNSASICW503
State Code
AUQ52
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
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally in securities, in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform a specialist advisory role in securities.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 ASIC for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Establish relationship with client and identify client’s objectives, needs and financial situation
  • 1.1 Establish client’s knowledge about financial products and services
  • 1.2 Respond to enquiries about securities products and services by explaining range of products and services available and their relevant fee and charging methodology
  • 1.3 Inform client about role of adviser and licensee or principal responsible for adviser's conduct, including procedures for complaints handling and circumstances in which they should be engaged
  • 1.4 Ask client about objectives and goals, and obtain personal, financial and business details to identify client needs
  • 1.5 Establish product risk profile of client, including expectations of cash flow and relevant taxation obligations
2. Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions
  • 2.1 Undertake assessment of client needs using all information gathered, taking into account client’s product expectations and specific needs
  • 2.2 Consult client throughout analysis for further clarification where necessary
  • 2.3 Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice if required
  • 2.4 Assess and confirm product risk profile of client, demonstrating ASIC identified generic and specialist knowledge relevant to products being offered
  • 2.5 Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs
  • 2.6 Conduct relevant research, analysis and product modelling and draft appropriate solution, plan, policy or transaction for presentation to client
3. Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction
  • 3.1 Apply appropriate knowledge for service or product offered when presenting product
  • 3.2 Clearly and unambiguously explain proposed transaction to client
  • 3.3 Reinforce all relevant details, terms and conditions of product and service
  • 3.4 Disclose impacts and possible risks of solution in clear and concise manner
  • 3.5 Provide supporting written documentation and guide client through key aspects of documentation
  • 3.6 Discuss and clarify any concerns or issues client has regarding proposed plan, policy or transaction
  • 3.7 Confirm that client understands proposed plan, policy or transaction
4. Agree to plan, policy or transaction and complete documentation
  • 4.1 Obtain client’s formal agreement to proposed plan, policy or transaction
  • 4.2 Clearly explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing
  • 4.3 Ensure that proposal and all other statutory and transactional documents are completed and signed off by client
  • 4.4 Exchange copies of signed agreement and other appropriate documentation
5. Provide ongoing service where requested by client
  • 5.1 Ensure that type and form of ongoing service, including reporting on performance and review of plan, policy or transaction, is agreed with client
  • 5.2 Clearly explain all fees and costs for ongoing and specifically defined services and check that client understands these details
  • 5.3 Provide ongoing service as required
No information
No information
Replaces
State Code National Code Title Type
D4022 FNSASICW503A Provide advice in Securities Unit of competency
Replaced By
State Code National Code Title Type
OEC98 FNSASICW513 Provide wholesale advice in securities Unit of competency