Unit of competency Outline

Date retreived
23/07/2026 9:16 AM AWST

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Provide general advice on financial products and services

Provide general advice on financial products and services

Unit of competency
National Code
FNSIAD301
State Code
AUR43
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
080501 - Sales
Original Release Date
16/09/2015
Nominal Hours
30
Description
This unit describes the 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.It applies to individuals who undertake the provision of financial services and products advice which is NOT specified in accordance with Australian Securities and Investments Commissions (ASIC) regulations and does not require Tier 1 or 2 status.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Establish relationship with customers
  • 1.1 Attend to customer enquiries in a timely and courteous manner
  • 1.2 Demonstrate active listening skills in dealing with customer enquiries and provide help and assistance to ensure full and accurate completion of initial documentation, where required
2. Identify customer needs
  • 2.1 Examine, where applicable, initial documentation to determine products and services of interest to customers
  • 2.2 Undertake clear and unambiguous communication with customers to determine and clarify products and services of interest to them
  • 2.3 Inform customers clearly of the regulatory restrictions on providing financial products advice
  • 2.4 Request information from customers to determine their needs, ensuring that information gathered is for the purposes of provision of general advice only
  • 2.5 Identify requests for information, advice, products or services that fall outside the organisation’s scope of operation and inform customers where such information, advice, products or services can be obtained, where possible
  • 2.6 Explain the range of products and services available to customers in a clear and unambiguous way, avoiding jargon and in language appropriate to receiver
3. Identify general advice boundaries of product and service
  • 3.1 Analyse the range of products and services of interest to customers to determine their categorisation is general advice, in line with legislation and organisational policy
  • 3.2 Refer customers to appropriate specialist personnel where requested advice is deemed to fall outside category of general advice
4. Provide general advice to customers
  • 4.1 Assist customers to make informed choices on products and services using relevant documentation
  • 4.2 Provide general advice to customers in strict accordance with regulatory restrictions, organisational policy and organisational tools
  • 4.3 Demonstrate product knowledge appropriate for service or advice offered when providing advice to customers
  • 4.4 Explain and discuss recommendations with customers in a clear and unambiguous way
No information
No information
Replaces
State Code National Code Title Type
D4164 FNSIAD301A Provide general advice on financial products and services Unit of competency
Replaced By
State Code National Code Title Type
OEC12 FNSIAD311 Provide general advice on financial products and services Unit of competency