Elements and Performance Criteria
- Create rapport with client
- Disclosure of capacity to client is consistent with code of practice requirements and client concerns, if any, are identified and responded to appropriately
- Active listening skills are demonstrated in dealings with clients and services explained to them orally or, if necessary, in writing in a clear and unambiguous way, avoiding jargon and in language appropriate to the receiver
- Identify client's needs, objectives and financial situation
- The client is encouraged to express and clarify their attitudes, views, feelings and objectives
- Relevant personal, financial and business details are collected from the client using an appropriate fact finder
- The client's short-, medium- and long-term objectives and investment risk profile are identified using an appropriate fact finder
- The client's preferences and concerns regarding options are identified using an appropriate fact finder where applicable and priorities identified and agreed upon
- The fact finder is completed in accordance with the code of practice
- Analyse client's needs, objectives and financial situation to identify appropriate solutions
- Present appropriate solutions to client
- Recommendations and features of the client advice record are explained and discussed with the client in a clear and unambiguous way with product knowledge appropriate for the service or advice offered demonstrated
- Impact of key aspects of the recommendations are disclosed in a clear and concise manner to the client and they are guided through the key aspects of the client information brochure prior to signing the proposal
- Requirements to put the recommended program into effect are explained to the client and a copy of the fact finder is provided to the client if requested
- Confirmation is sought from client that they understand the recommendations presented
- The client is assisted to make informed choices using the relevant documentation so that their needs and objectives are addressed consistent with their budgetary constraints
- Agreement in principle to proceed is obtained from the client
- Negotiate effectively
- Decisions are clearly explained to the client in accordance with company policy and they are assisted to make appropriate decisions regarding solutions to their needs and objectives
- Restraint and composure are exercised when dealing with conflict situations involving clients
- Communication channels are maintained when dealing with complaints and following complaint handling procedures
- Complete and maintain necessary documentation
- Proposal and other documents are completed and, where appropriate, signed off
- Client records are created or updated
- Contract variations are completed where applicable
- Confirmation including relevant documentation and contract variation is provided to the client and final plan implemented
- Reference material is organised in a form which facilitates the selection of appropriate products to meet client's needs and updated on a regular basis
- Provide after sales service
- After sales service to be provided is clearly defined, and is communicated to the client and executed as needed
- Fact finder, recommendations and client advice records are periodically reviewed
- Any changes to the client's situation since previous recommendations were made are identified and acted upon at subsequent reviews
- Areas of client dissatisfaction are acted upon in an ethical and timely manner and addresses code of practice requirements