Elements and Performance Criteria
- Develop an awareness of the client's situation
- Relevant facts and information are obtained courteously and professionally to determine client's situation prior to defining their expectations, requirements and objectives
- Clients are encouraged to disclose relevant information to determine their personal and financial situation and special needs
- Summary analysis of client's financial position is developed and the client contact categorised based on extent of client disclosure
- Further advice is not offered or provided if client is categorised as requiring execution or settlement-only action
- Obtain relevant knowledge of client's financial position and risk profile
- Determine client expectations and requirements with respect to financial markets advice
- Client is encouraged to express and clarify their requirements and expectations and their concerns, if any are identified and responded to promptly and appropriately
- Client's investment needs and preferences with respect to financial product selection or portfolio are determined
- 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
- All information and facts provided by client are analysed and appropriate risk or reward and asset allocation strategies are determined in accordance with client requirements, organisation policies and guidelines and with relevant legislation or industry codes of practice
- Prepare and update necessary documentation where required
- All relevant client facts, financial and personal histories and completed disclosure documents are completed and filed in accordance with organisation policy and guidelines and relevant legislation and regulatory requirements
- Client records are created or updated where necessary and client documentation, information and histories filed in a format and location readily accessible to other advisers