Unit of competency Outline

Date retreived
22/07/2026 7:38 AM AWST

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Provide wholesale advice in managed investments

Provide wholesale advice in managed investments

Unit of competency
National Code
FNSASICT513
State Code
OEC15
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
081105 - Investment And Securities
Original Release Date
07/12/2022
Nominal Hours
45
Description
This unit describes the skills and knowledge required to analyse client financial needs and objectives and provide wholesale advice ethically and professionally on managed investments in compliance with industry regulations, codes of practice and current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing.The unit applies to those who apply specialised knowledge and well-developed interpersonal, communication and self-management skills to perform a wholesale advisory role in managed investments.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Establish relationship with client and identify client’s needs and financial situation
  • 1.1 Establish knowledge level, objectives, risk profile and goals of client
  • 1.2 Explain range of products and services available to client according to client objectives and goals and respond to enquiries where required
  • 1.3 Inform client about role of adviser and licensee or principal responsible for adviser’s conduct
  • 1.4 Analyse client’s financial and business details and assess client’s financial needs
  • 1.5 Establish product risk profile of client, including their expectations of cash flow and relevant taxation obligations
2. Develop strategies and solutions according to clients objectives, needs, financial situation and risk profile
  • 2.1 Assess client needs using information gathered, taking into consideration client’s product expectations and specific needs
  • 2.2 Consult and clarify with client throughout analysis where required
  • 2.3 Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice where required
  • 2.4 Assess and confirm product risk profile of client
  • 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 strategies and solutions to client and determine financial plan, policy or transaction
  • 3.1 Explain proposed strategy and/or solution to client according to organisational policies and procedures, legislative and regulatory requirements
  • 3.2 Reinforce all relevant details, terms and conditions of product and service
  • 3.3 Disclose impacts and possible risks of product or service
  • 3.4 Provide supporting written documentation according to legislative requirements and organisational policies and procedures
  • 3.5 Discuss and clarify any concerns or issues client has regarding proposed plan, policy or transaction
  • 3.6 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 Explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing
  • 4.3 Confirm 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 required documentation
5. Provide arrangements for ongoing service, where requested by client
  • 5.1 Confirm that type and form of ongoing service, including review of products or services, is agreed with client
  • 5.2 Explain and confirm fees and costs for ongoing and specifically defined service, and confirm client understands all details
  • 5.3 Implement procedures for agreed ongoing service according to organisational policies and procedures
No information
No information
Replaces
State Code National Code Title Type
AUQ55 FNSASICT503 Provide advice in managed investments Unit of competency
State Code National Code Title Type
BHU3 FNS60722 Advanced Diploma of Financial Licensing Management Qualification
BHU2 FNS51022 Diploma of Financial Markets Qualification