Course Title: Determine client requirements and expectations

Part B: Course Detail

Teaching Period: Term2 2009

Course Code: MKTG5751C

Course Title: Determine client requirements and expectations

School: 650T TAFE Business

Campus: City Campus

Program: C5205 - Diploma of Financial Services

Course Contact : Sam Tabitt

Course Contact Phone: 61 3 9925 1466

Course Contact

Name and Contact Details of All Other Relevant Staff

Michael Elliot

Nominal Hours: 70

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 function of determining a client’s financial requirements and expectations in regard to financial investment products. It will focus on the client service elements throughout the lifecycle of a financial plan. That is from the first meeting with the client to establish goals and needs, right through to the review stage.

If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSICCUS506B Determine client requirements and expectations


1. Develop an awareness of the client's situation FNSICCUS506B/01

Performance Criteria:

1. Relevant facts and information are obtained courteously and professionally to determine client's situation prior to defining client's expectations, requirements and objectives
2. Clients are encouraged to disclose relevant information to determine their personal/financial situation and special needs
3. Summary analysis of client's financial position is developed based on extent of client disclosure
4. Client contact is categorised based on extent of client disclosure
5. Further advice is not offered or provided if client is categorised as requiring execution/settlement only action


2. Obtain relevant knowledge of client's financial position and risk profile FNSICCUS506B/02

Performance Criteria:

1. Where relevant, client financial position is ascertained
2. Risk and fraud indicators are identified accurately and consistently


3. Determine client expectations and requirements with respect to financial markets advice FNSICCUS506B/03

Performance Criteria:

1. Client is encouraged to express and clarify their requirements and expectations
2. Client concerns, if any are identified and responded to promptly and appropriately
3. Client's investment needs and preferences with respect to financial product selection or portfolio are determined
4. Specialist advice is sought where necessary or client is referred to appropriate personnel or organisation where required services are not available or cannot be provided
5. All information and facts provided by client is analysed and appropriate risk/reward and asset allocation strategy/strategies are determined in accordance with client requirements, company policies and guidelines and with relevant legislation or industry codes of practice


4. Prepare and update necessary documentation where required FNSICCUS506B/04

Performance Criteria:

1. All relevant client facts, financial/personal histories and completed disclosure documents are completed and filed in accordance with company policy and guidelines and relevant legislation and regulatory requirements
2. Client records are created or updated where necessary
3. Client documentation, information and histories are filed in a format and location readily accessible to other advisers

Learning Outcomes

Details of Learning Activities

In this course students will undertake a range of learning activities, which will include:
An initial introduction to topics and techniques via a lecture, tutorial-based discussion groups, role-plays to explore individual reactions to particular situations, a group project (case-study, tutorial exercises in order to develop competency including underpinning skills and knowledge.

Teaching Schedule

 Weekly Schedule 
Week beginningTopicsTutorial/class work
Week 1 Customer Relations
Coordinate and implement customer service strategies
Rapport, Deliver and monitor a service to customers
Week 2 Customer Relations
Coordinate and implement customer service strategies/managing clients
Coordinate and implement customer service strategies
Week 3 Managing clientsManaging clients’ case-studies
Week 4 Compliance requirementsIndividual case study handed out to students, Requirements of FSR Act, ASIC
Week 5 Compliance requirements 
Week 6 Identifying Needs and Collecting Data Data collection form, Financial needs
Week 7 Identifying Needs and Collecting Data Financial needs, Short term/long term needs, Client risk profile
Week 8 Identifying Needs and Collecting DataFinancial needs, Short term/long term needs, Client risk profile
Week 9 Individual case studyIndividual case study due (20%)
Week 10 The Financial Planning ProcessRole of financial planning
Individual Presentations assignment handed out.

Week 11 

Presenting Your Proposal (The Financial Planning Process)
Beginning the Consultation
Week 12 Presenting Your Proposal (The Financial Planning Process)
Beginning the Consultation
Presenting Your Proposal
Week 13Ongoing Service and ReviewOngoing Service and Review
Week 14 Ongoing Service and Review
Individual Presentations Assignment
Ongoing Service and Review
Individual Presentations Assignment (25%)
Week 15 Individual Presentations Assignment
Individual Presentations assignment due (25%)
Week 16 Individual Presentations Assignment
Individual Presentations assignment due (25%)
Week 17Closed book test (40%)
Employability Skills (15%)

Learning Resources

Prescribed Texts

There is no prescribed textbook for this course. Extensive course notes and materials in addition to lecture overheads and tutorial questions will be available on G:/BusTAFE/Banking&Finance/ Determine client requirement & expectations from the commencement of the course.


A number of publications from which you can obtain more details information on the topics covered in this course:

Beal , D. and McKeown, W., (2003) Personal Finance, Second edition

John Wiley and Son CCH (2002)

Australian Master Financial Panning Guide 2003/3, Fifth edition

CCH Australia (and subsequent annual editions)

Other Resources

In addition, ASIC, APRA and the Financial Planning Association’s web sites keep the most up to date information about changes in the financial services and financial planning industry. You should get into the habit of checking these web sites regularly. Students are also encouraged to read the financial section of the daily press for articles on the role of financial services regulatory bodies and issues relating to role of financial advisers.

Additional texts are available for general use from the Business library on level 5 of Building 108. A computer access laboratory is provided on level 3 and a library on level 5 of Building 108.

Overview of Assessment

Assessment will incorporate a variety of methods including tests, individual and group assignments.
Class tests will consisting of multiple choice questions, case studies and short answer questions. The group assignment will requires students to research a financial product (s) and relate that product to needs and expectations of a client and that client’s risk profile. It will be based on a client case study.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

•Individual employability skills of each student will be assessed by taking into account, communication skills, team work skills, problem-solving skills, initiative and enterprise skills, planning and organising skills, self-management skills, learning skills, technology skills. Worth 15% of the assessment of the course.
•An individual case study on the determination of client needs and expectations worth 20% of the assessment of the course.
•A individual presentation assignment worth 25% of the assessment of the course that researches a financial services guide (FSG) a product disclosure statement (PDS) and relates that information to the assessor in a client/adviser role play.
•A closed book test worth 40% of the assessment of the course. It will be held at the end of the course. It will assess the performance elements and underpinning skills and knowledge of the course.

To be deemed competent in this course, students must pass all performance elements.

Additionally, students will be graded in this course. The grade will be determined on the overall mark attained and will be based on the grade criteria listed below.

Graded results will apply the following
Grade HD Mark > = 80 Description High Distinction
Grade DI Mark 70 - 79 Description Distinction
Grade CR Mark 60 - 69 Description Credit
Grade PA Mark 50 - 59 Description Pass
Grade NN Mark 0 - 49 Description Fail
Grade NYC Mark Not Applicable Description Not Yet Competent
Grade DNS Mark Not Applicable Description Did Not Submit

Assessment Matrix

 Employability skillsIndividual case studyIndividual assignment/ Role playClosed book test
Develop an awareness of the client’s situation YYYY
Obtain relevant knowledge of client’s financial position and risk profile
Determine client expectations and requirements with respect to financial markets advice
Prepare and update necessary documentation where requiredYYYY

Course Overview: Access Course Overview