Unit of competency Outline
Date retreived
23/07/2026 7:19 AM AWST
23/07/2026 7:19 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.
Conduct financial planning analysis and research
Conduct financial planning analysis and research
Unit of competency
National Code
FNSFPL502A
FNSFPL502A
State Code
D4140
D4140
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
19/03/2012
Field of Education
081105 - Investment And Securities
Original Release Date
19/03/2012
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to undertake financial planning analysis and research. It encompasses evaluating a client's current situation and identifying issues, research requirements and parameters for extracting and analysing information, and summarising research information.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. Evaluate the client's current situation and identify the issues
- 1.1. Analysis of the integrity of information provided by the client is undertaken
- 1.2. The client objectives are identified and quantified and tested for viability
- 1.3. The basis for strategy development is established based on confirmed objectives
2. Identify research requirements and parameters
- 2.1. Aims and objectives of research including strategy, product and performance parameters are established against client requirements and expectations with all issues identified
- 2.2. A wide range of relevant internal and external information resources required for the research are identified and accessed
- 2.3. Timeframes are established and requests for information prioritised to ensure milestones are met
3. Extract and analyse information according to research requirements and parameters
- 3.1. Data extraction criteria are established that are relevant to intended use and client requirements
- 3.2. Trends are identified to provide meaningful information on performance of possible strategies, products and markets
- 3.3. Risk assessment is made of strategies and products identified through the research
- 3.4. Financial products are analysed within appropriate timeframes to ensure currency of decision making
- 3.5. Obtained information is prioritised according to client requirements and expectations
- 3.6. Issues that require specialist research or advice are identified and appropriate advice obtained
4. Summarise research information
- 4.1. Information on financial strategies and products is collated and checked against research specification
- 4.2. Written performance, trend and risk analyses are prepared and checked against research specification
- 4.3. Any qualifications or issues for further research are documented
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.
Information may be in regard to:
codes of practice
economic situation
environmental considerations
internal comparisons
markets
political environment
regulatory requirements
social environment.
Client expectations and requirements may include:
comprehensive financial planning
portfolio advice
strategic or product specific advice and/or service.
Timeframe considerations may include
client personal and financial changes
competitors
legislative and regulatory requirements
market cycles
marketing strategy
procedures revision
product release dates.
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.
Information may be in regard to:
codes of practice
economic situation
environmental considerations
internal comparisons
markets
political environment
regulatory requirements
social environment.
Client expectations and requirements may include:
comprehensive financial planning
portfolio advice
strategic or product specific advice and/or service.
Timeframe considerations may include
client personal and financial changes
competitors
legislative and regulatory requirements
market cycles
marketing strategy
procedures revision
product release dates.
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:
comply with relevant legislative and regulatory requirements, relevant industry codes of practice and organisational operating guidelines
evaluate the client's current situation and identify issues
identify research requirements and parameters and extract and analyse information
use a wide range of available information sources and identify factors which may affect research and accurately summarise research information to test its integrity
use comprehensive knowledge of available products and services and their associated risks
accurately document research for financial plans and summarise and prioritise findings that are validated against client requirements.
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
verbal or written questioning on underpinning knowledge and skills
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:
comply with relevant legislative and regulatory requirements, relevant industry codes of practice and organisational operating guidelines
evaluate the client's current situation and identify issues
identify research requirements and parameters and extract and analyse information
use a wide range of available information sources and identify factors which may affect research and accurately summarise research information to test its integrity
use comprehensive knowledge of available products and services and their associated risks
accurately document research for financial plans and summarise and prioritise findings that are validated against client requirements.
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
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations/scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9695 | FNSFPLN502B | Conduct financial planning analysis and research | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUX27 | FNSFPL502 | Conduct financial planning analysis and research | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S722 | FNS50610 | Diploma of Financial Planning | Qualification |
| D719 | FNS50611 | Diploma of Financial Planning | Qualification |
| S706 | FNS40710 | Certificate IV in Financial Practice Support | Qualification |