Course Title: Establish client relationship and analyse needs

Part A: Course Overview

Program: C4369 Certificate IV in Banking Services

Course Title: Establish client relationship and analyse needs

Portfolio: BUS Portfolio Office

Nominal Hours: 50

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Course Code




Learning Mode

Teaching Period(s)


City Campus


650T Vocational Business Education

Face-to-Face or Internet

Term1 2016,
Term1 2017,
Term2 2017

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email:

Course Description

This unit describes the skills and knowledge required to interpret and comply with industry regulations and codes of practice when considering the characteristics of financial products and services for individual client needs.

It applies to individuals with excellent communication skills who are authorised as Australian Securities and Investments Commission (ASIC) registered Australian financial services licence (AFSL) holders to provide advice on deposit products, non-cash payment facilities and general insurance products at Tier 2 level.

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 the relevant regulator for specific guidance on requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities


National Competency Codes and Titles

National Element Code & Title:

FNSASIC301 Establish client relationship and analyse needs


1. Establish relationship with client

2. Identify client objectives, needs and financial situation

3. Analyse client objectives, needs, financial situation and risk profile

Learning Outcomes

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • work effectively with clients to collect relevant personal and/or business information that will enable identification of their objectives, needs, expectations, financial situation and risk profile
  • interpret and comply with relevant industry regulations and codes of practice requirements that relate to the provision of financial product advice
  • analyse client information and assess client risk profile to determine the characteristics of financial products and services relevant to client needs

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must satisfy the knowledge requirements relevant to the products and activities in which advice is given.

For general insurance, deposit products and non-cash payments and relevant first home saver account products the individual must:

  • explain the legal environment including disclosure and compliance covering:
  • role of the representative or adviser
  • relevant legal principles including the Corporations Act, Financial Services Reform Act (FSRA), Competition and Consumer Act, Insurance Contracts Act and Australian Securities and Investments Commission (ASIC) Act
  • the relationship between ethics and regulatory requirements including good faith, utmost good faith, full disclosure of remuneration and fees, and any other conflicts of interest which may influence the adviser’s recommendation
  • name relevant industry codes of practice and conduct
  • identify complaints resolution procedures (internal and external)
  • outline relevant ASIC regulatory guidelines.


For general insurance the individual must:

  • summarise the characteristics and participants of Australian insurance markets and the roles played by intermediaries, and identify insurance products including:
  • definition of an insurance product
  • conditions, exclusions and level of coverage of risk transfer products
  • types of insurance products
  • pricing of risk products
  • identify taxation issues relating to insurance products
  • explain advisory functions including:
  • role of the representative, broker or adviser
  • participants in the insurance advisory services market
  • range of services provided
  • profile and financial information of the client
  • appropriateness of a risk assessment
  • summarise the specific product knowledge for the general insurance products in which advice is given including:
  • standard cover (and deviations)
  • policy wordings
  • taxes and charges
  • insurance claims
  • premium rating and risk selection
  • reporting
  • product development
  • underwriting.


For deposit products and non-cash payment facilities the individual must:

  • name the types of deposit products and non-cash payment products
  • summarise the product characteristics.


For first home saver accounts the individual must:

  • name the types of first home saver account products including the range of accounts, associated risks and alternative products
  • summarise the product characteristics – eligibility and withdrawal, and government conditions
  • explain the taxation issues relating to first home saver accounts

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial services and products advice field of work and include access to:

  • common office equipment, technology, software and consumable
  • financial services product information.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.


Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.