Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSFPL601 Mapping and Delivery Guide
Provide technical and professional guidance

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSFPL601 - Provide technical and professional guidance
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to provide technical and professional guidance in a financial planning practice. It encompasses mentoring staff in the practice, providing technical information to staff and peers, and acting as a practice reference for any special areas of expertise.It applies to experienced individuals with specialised knowledge of the sector and well-developed communication skills who provide leadership and guidance to others, making judgements within their level of responsibility.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.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

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

office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Provide technical guidance to other staff in the practice
  • Provide technical guidance and advice, appropriate to skill level and need, to other financial planners, trainee financial planners and para-planners to assist in development of financial plans
  • Provide technical advice and assistance to administrative and processing staff when required
  • Use specialists with appropriate advanced technical competency as point of reference when required
  • Recognise potential problems before they develop and take precautionary steps to prevent them
  • Model and communicate ethical behaviour requirements to staff and peers
       
Element: Provide technical and professional information to staff and peers
  • Circulate information obtained by representatives that is relevant to staff and peers for development purposes
  • Provide opportunities to staff for feedback and queries on circulated information
       
Element: Act as practice reference for any special areas of expertise
  • Establish staff briefings or training sessions in representative’s area of expertise
  • Develop and deliver skill development exercises for individual staff as required
  • Monitor market, product, legislative and regulatory changes in special areas of expertise for development purposes
  • Monitor and address practice information and skill requirements in special areas of expertise
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Provide technical guidance to other staff in the practice

1.1 Provide technical guidance and advice, appropriate to skill level and need, to other financial planners, trainee financial planners and para-planners to assist in development of financial plans

1.2 Provide technical advice and assistance to administrative and processing staff when required

1.3 Use specialists with appropriate advanced technical competency as point of reference when required

1.4 Recognise potential problems before they develop and take precautionary steps to prevent them

1.5 Model and communicate ethical behaviour requirements to staff and peers

2. Provide technical and professional information to staff and peers

2.1 Circulate information obtained by representatives that is relevant to staff and peers for development purposes

2.2 Provide opportunities to staff for feedback and queries on circulated information

3. Act as practice reference for any special areas of expertise

3.1 Establish staff briefings or training sessions in representative’s area of expertise

3.2 Develop and deliver skill development exercises for individual staff as required

3.3 Monitor market, product, legislative and regulatory changes in special areas of expertise for development purposes

3.4 Monitor and address practice information and skill requirements in special areas of expertise

Evidence of the ability to:

provide technical and professional guidance to others within the organisation, including:

conducting briefings and training sessions

mentoring staff and facilitating opportunities to receive guidance or support in the preparation of financial plans

acting as a practice reference for special areas of expertise.

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

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

explain the key features of the financial planning industry, including:

financial products

financial markets

investment characteristics

describe the key features and identify relevant issues relating to:

corporations and consumer legislation

government financial and superannuation policy

relevant financial legislation

social security legislative updates

industry codes of practice

discuss current industry trends, sources of information and industry activities

compare and contrast:

financial forecasting techniques

methods of presenting financial data

identify and assess available and appropriate professional development activities

identify and categorise:

relevant interdisciplinary contacts and industry expertise

sources of information on financial products and markets, state and territory charges and taxes

discuss approaches for effective mentoring and training within the workplace.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Provide technical guidance to other staff in the practice

1.1 Provide technical guidance and advice, appropriate to skill level and need, to other financial planners, trainee financial planners and para-planners to assist in development of financial plans

1.2 Provide technical advice and assistance to administrative and processing staff when required

1.3 Use specialists with appropriate advanced technical competency as point of reference when required

1.4 Recognise potential problems before they develop and take precautionary steps to prevent them

1.5 Model and communicate ethical behaviour requirements to staff and peers

2. Provide technical and professional information to staff and peers

2.1 Circulate information obtained by representatives that is relevant to staff and peers for development purposes

2.2 Provide opportunities to staff for feedback and queries on circulated information

3. Act as practice reference for any special areas of expertise

3.1 Establish staff briefings or training sessions in representative’s area of expertise

3.2 Develop and deliver skill development exercises for individual staff as required

3.3 Monitor market, product, legislative and regulatory changes in special areas of expertise for development purposes

3.4 Monitor and address practice information and skill requirements in special areas of expertise

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Provide technical guidance and advice, appropriate to skill level and need, to other financial planners, trainee financial planners and para-planners to assist in development of financial plans 
Provide technical advice and assistance to administrative and processing staff when required 
Use specialists with appropriate advanced technical competency as point of reference when required 
Recognise potential problems before they develop and take precautionary steps to prevent them 
Model and communicate ethical behaviour requirements to staff and peers 
Circulate information obtained by representatives that is relevant to staff and peers for development purposes 
Provide opportunities to staff for feedback and queries on circulated information 
Establish staff briefings or training sessions in representative’s area of expertise 
Develop and deliver skill development exercises for individual staff as required 
Monitor market, product, legislative and regulatory changes in special areas of expertise for development purposes 
Monitor and address practice information and skill requirements in special areas of expertise 

Forms

Assessment Cover Sheet

FNSFPL601 - Provide technical and professional guidance
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSFPL601 - Provide technical and professional guidance

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: