RG 146 Skills (Personal Advice)
This assessment tests your ‘abilities’ around engaging a client and the relevant information you should provide to and elicit from a client when providing personal financial advice.
The individual Skills assessment is an interview, conducted by an ASIC authorised assessor. To qualify for this assessment, you must have achieved RG146 compliance to give general advice in one or more Tier 2 product area/s.
Elements and Performance Criteria
- Establish relationship with client
- Identify client objectives, needs and financial situation
- Analyse client objectives, needs, financial situation and risk profile
- Develop appropriate strategies and solutions
- Present appropriate strategies and solutions to the client
- Negotiate financial plan/policy/transaction with the client
- Coordinate implementation of agreed plan/ policy/transaction
- Complete and maintain necessary documentation
- Provide ongoing service (optional at discretion of client)
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