Course Title: Provide appropriate services, advice and products to clients

Part B: Course Detail

Teaching Period: Term1 2017

Course Code: MKTG7920C

Course Title: Provide appropriate services, advice and products to clients

School: 650T Vocational Business Education

Campus: City Campus

Program: C5343 - Diploma of Financial Planning

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 150

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.

Pre-requisites and Co-requisites


Course Description

This unit describes the skills and knowledge required to create rapport with clients, identify and analyse their needs, objectives and financial situation, and identify and present appropriate solutions, including completing and maintaining necessary documentation and providing after sales service.

It applies to individuals working within enterprises and job roles who are required to advise on Australian Securities and Investments Commission (ASIC) Tier I products such as term deposits and personal, sickness and accident insurance products.  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.        

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSIAD501 Provide appropriate services, advice and products to clients


1. Create rapport with clients

Performance Criteria:

1.1 Disclose capacity and capability to clients consistent with code of practice and legislative and regulatory requirements, and identify and respond appropriately to any client concerns 1.2 Demonstrate active listening skills in dealings with clients and explain services to them orally or, if necessary, in writing in a clear and unambiguous way, avoiding jargon and in language appropriate to the receiver


2. Identify client needs, objectives and financial situation

Performance Criteria:

2.1 Encourage clients to express and clarify their attitudes, views, feelings and objectives 2.2 Collect relevant personal, financial and business details from clients using appropriate organisational tool such as a fact finder 2.3 Identify clients' short-term, medium-term and long-term objectives and investment risk profile using an appropriate fact finder 2.4 Identify client preferences and concerns regarding options, using appropriate fact finder where applicable and priorities identified and agreed on 2.5 Complete fact finder in accordance with code of practice


3. Analyse client needs, objectives and financial situation to identify appropriate solutions

Performance Criteria:

3.1 Use all information from fact finder process to analyse client needs and determine appropriate strategy to provide for identified needs and outcomes 3.2 Seek specialist advice if required to address issues that professional judgement indicates may require further consideration


4. Present appropriate solutions to clients

Performance Criteria:

4.1 Explain and discuss recommendations and features of client advice record with clients in a clear and unambiguous way and demonstrate product knowledge appropriate for service or advice offered 4.2 Disclose impact of key aspects of recommendations in a clear and concise manner, and guide clients through key aspects of client information brochure prior to signing proposal 4.3 Explain requirements to put recommended program into effect to clients and provide copy of fact finder to clients if requested 4.4 Seek confirmation from clients that they understand recommendations presented 4.5 Assist clients to make informed choices using relevant documentation so that their needs and objectives are addressed, consistent with their budgetary constraints 4.6 Obtain agreement in principle to proceed from clients


5. Negotiate effectively

Performance Criteria:

5.1 Explain decisions clearly to clients in accordance with company policy and assist them to make appropriate decisions regarding solutions to their needs and objectives 5.2 Exercise restraint and composure when dealing with conflict situations involving clients 5.3 Follow complaint handling procedures and maintain communication channels when dealing with complaints


6. Complete and maintain necessary documentation

Performance Criteria:

6.1 Complete proposal and other documents and, where appropriate, obtain sign off 6.2 Create or update client records 6.3 Complete contract variations where applicable 6.4 Provide confirmation, including relevant documentation and contract variation, to clients and implement final plan 6.5 Organise reference material in a form which facilitates the selection of appropriate products to meet client needs, and update on a regular basis


7. Provide after sales service

Performance Criteria:

7.1 Define and communicate after sales service to be provided to clients and execute as needed 7.2 Periodically review fact finder, recommendations and client advice records 7.3 Identify and act on any changes to clients' situation since previous recommendations were made at subsequent reviews 7.4 Act on areas of client dissatisfaction in an ethical and timely manner that addresses code of practice requirements

Learning Outcomes

Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

The self-paced activities will be delivered thought various technology platforms and include your contribution to activities, discussion threads, reflective journals on industry updates, presentations, quizzes and interactive sessions.

The collaborative classroom based activities will include role plays, group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.

You are expected to participate and contribute in all scheduled learning activities



Teaching Schedule

Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 


The Teaching Schedule for this course is attached to this document (Part B) but please note that it is subject to change.


The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities including the self - paced activities in the workbooks.

Learning Resources

Prescribed Texts


Other Resources


Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.

The online learning materials listed include:

  • Course outlines
  • Client Files
  • Power point Presentations
  • Course Workbooks
  • Supporting Reading material
  • Industry relevant articles
  • Activities


Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • provide advice to clients that complies with relevant legislation, regulations and industry codes of conduct
  • use organisational tools such as fact finders
  • present appropriate solutions to the client after identifying and analysing client needs, objectives and financial situation
  • complete and maintain necessary documentation and provide after sales service.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • outline the range of financial products available in the industry
  • explain key requirements of industry codes of practice and relevant legislation and regulation affecting the industry
  • describe investment and savings vehicles, financial markets, asset classes and investment characteristics
  • explain investment risk factors and relationship to return expectations
  • explain options, strategies and solutions suitable for typical client situations and profiles
  • outline the principles of effective negotiation
  • describe the internal and external issue resolution processes
  • list the requirements related to the disclosure of capacity
  • explain the general impact of relevant economic, taxation and social security policy on the client’s financial needs
  • outline the role of the:
    • adviser
    • organisation
    • broker (if relevant).

Assessment Conditions

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

  • common office equipment, technology, software and consumables
  • 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.

Assessment Tasks

Overview of Assessment

This course is co-delivered and co-assessed with the following competencies:

FNSASICZ503 Provide advice in financial planning

FNSFPL503 Develop and prepare a financial plan

Critical Aspects of assessment are described above in the performance evidence for this course.

The assessments for this course have been designed to allow participants  apply their learning to particular simulated work scenarios and demonstrate their competence in a variety of ways.


Task 1- Portfolio Mini Problem Solving Exercises/Activities (Week 5)

For this Assessment Task you are required to demonstrate your knowledge by completing a series of ten theory and problem solving activities from weeks 1 to 5. You will be required to submit each activity as specified in the weekly schedule.

The purpose of the activities is to enhance your understanding and ability to apply the knowledge to practice in the following areas:

  1. Informing client about procedures for  complaints handling
  2. Use arrange of communication skills to gather clients, personal, financial and business skills
  3. Outline the concept of a financial product
  4. Outline the types of financial investment products
  5. Provide an overview of the operation of financial markets and roles played by intermediaries.
  6. Provide an overview of the interrelationships with Financial Markets & interrelationships between industry sectors
  7. Discuss the various disclosure and compliance in relation to Corps Act, ASIC Act, Privacy requirments, Financial Services Reform Act (FSRA), Competition & Consumer Act
  8. Relationship between ethics and regulatory requirements.

Task 2 - Workplace Simulated Project (Week 12)

For the first part of the project you will assume the role of a para-planner at the Swanston Bank Ltd and you will prepare a financial plan that includes a cash flow, asset and liabilities based on most recent tax rates. You will be required to calculate the lump sums the client will require at retirement and forecast their approximate superannuation balances for the next five years. The forecast will be based on the client’s current investment balances and contributions. You will be able to determine the duration that the client needs before they can expect to receive a comfortable amount to retire as in accordance with ASFA standards. The financial plan that you will prepare must include strategies to increase the client’s investment balances at retirement.

In the second part of the assessment you will be required to interview the client. You will need to continue building a good rapport with the client and present the financial plan that you drafted to them. You will need to ensure that the client understands their financial status and whether the client will be able to apply for the age pension at retirement by applying the eligibility criteria on the website. The main aim of the second part is for you is to be able to explain all the relevant terms in the financial plan, answer the questions that the client may have and to negotiate the contents of the financial plan and ask for the authority to proceed with implementation of financial plan.

The purpose of the assessment is to enable you to demonstrate a breadth of understanding across all of the course material at an independent level. It assesses the knowledge you have obtained through undertaking the concepts of superannuation, your communication skills in presenting that knowledge and your problem-solving skills in answering the questions posed in a live interview with the simulated client.

A number of Learning Audit Dates have been scheduled and you are expected to progress as per the set targets throughout their studies. 

Task 3 – Supervised Assessment (Week 14)

For this Assessment Task you are required to demonstrate your knowledge of superannuation by completing an open book in class supervised assessment comprised of a series of theoretical and practical questions including: short answer and mini case studies. The purpose of this Task is to assess your understanding of the concepts and issues included in the topics covered throughout the semester. This assessment will take place during your normal scheduled class time.

Assessment Matrix

Other Information

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date. 
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Callie Harvey, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days. <check links are still current>

More Information:

Form to use:

Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. <check links are still current>

More Information:;ID=g43abm17hc9w

Form to use:

Resubmissions (VET Programs):

If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website: <check link is still current>
More Information:;ID=7usdbki1fjf31

Marking Guide (Competency):

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

Final Grades table:

CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment

Further information regarding the application of the grading criteria will be provided by your teacher.


Course Overview: Access Course Overview