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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Evaluate client’s current situation and identify issues
   • Analyse integrity of information provided by client
   • Identify, quantify and test client objectives for viability
   • Establish basis for strategy development in line with confirmed objectives
2. Identify research requirements and parameters
   • Establish aims and objectives of research including strategy, product and performance parameters against client requirements and expectations, with all issues identified
   • Identify and access wide range of relevant internal and external information resources required for research
   • Establish timeframes and prioritise requests for information to ensure milestones are met
3. Extract and analyse information according to research requirements and parameters
   • Establish data extraction criteria that are relevant to intended use and client requirements
   • Identify trends to provide meaningful information on performance of possible strategies, products and markets
   • Identify taxation and other government legislation that needs to be considered in choice of financial planning strategies
   • Conduct risk assessment of strategies and products identified through research
   • Analyse financial products within appropriate timeframes to ensure currency of decision making
   • Prioritise information according to client requirements and expectations
   • Identify issues that require specialist research or advice and obtain appropriate advice
4. Summarise research information
   • Collate and check information on financial strategies and products against research specification
   • Prepare and check written performance, trend and risk analyses against research specification
   • Document any qualifications or issues for further research
5. Evaluate client’s current situation and identify issues
   • Analyse integrity of information provided by client
   • Identify, quantify and test client objectives for viability
   • Establish basis for strategy development in line with confirmed objectives

Performance Evidence

Evidence of the ability to:

conduct financial planning research that demonstrates:

evaluation of client’s current situation and identification of issues

identification of research requirements and parameters

extraction and analysis of information

use of a wide range of available information sources

compliance with relevant legislative and regulatory requirements, relevant industry codes of practice and organisational operating guidelines

accurately summarise research information and test its integrity

prioritise findings, validated against client requirements, and document research for financial plans.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

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

identify and describe a wide range of financial products and services

discuss the risks and implications associated with use of financial products and services

explain financial products and services and the associated benefits from a financial planning perspective

identify financial industry information sources and outline research techniques for accessing this information

compare and contrast financial planning strategies

describe the key features of:

organisational policy and procedures relating to research

relevant legislation and regulations governing trusts and companies

relevant industry code of practice requirements

describe the key features of taxation and social security systems and regulations, and their effect on specified financial products

outline the key aspects of theories of investment, portfolio management and management of investment and risk.

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