CHCFIN006 — Establish the financial counselling relationship

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What an assessment for CHCFIN006 must cover

192 assessable components: 7 elements (36 performance criteria), 8 performance evidence and 141 knowledge evidence requirements, plus 7 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.

Elements & performance criteria

1 Assess suitability for financial counselling services.

1.1Identify the financial counsellor scope of role and apply to client situation.
1.2Explain purpose and structure of the intake process.
1.3Analyse client information to determine suitability for financial counselling.
1.4Identify and address any conflicts of interest.
1.5Clarify client expectations to ensure the client understanding of the financial counselling process.
1.6Identify the information the client may need to bring with them, or have available, for an appointment with a financial counsellor.

2 Commence financial counsellor engagement with the client.

2.1Build rapport with the client.
2.2Explain what a financial counsellor does.
2.3Explain the client agreement and obtain informed consent from client.
2.4Explain the client’s right to confidentiality and privacy and limitations.
2.5Explain the rights and responsibilities of the agency.

3 Identify client situation and issues.

3.1Use a strengths-based approach to understand all factors and risks that may impact on the client situation.
3.2Implement screening and risk assessment processes.
3.3Respond to identified risk.
3.4Support client to identify their primary concerns in relation to the presenting issues and to prioritise concerns on which to work.
3.5Source and review available information about client income and expenses.
3.6Review and use client information to inform preparation of a statement of assets and liabilities for the client.
3.7Work with the client to prepare a statement of financial position.
3.8Collect information on each debt, including whether the debt is legally owed.
3.9Examine and analyse the information with the client to identify areas for further investigation and clarify status of debts.

4 Identify the impact of complex needs.

4.1Establish if the client has complex needs.
4.2Identify how the client’s complex needs have impacted on their decision making.
4.3Identify how complex needs impact the client’s financial position.
4.4Adjust practice to mitigate personal and financial risks identified.

5 Provide tools and information to build client financial capability, resilience and wellbeing.

5.1Support clients to improve their financial capability by using an approach that focuses on their strengths.
5.2Assist the client to review and document their approach to managing living expenses.
5.3Provide additional information to support the client in managing living expenses.
5.4Provide information to address any gaps in the client’s knowledge about their financial and consumer protection rights.
5.5Provide information to assist client to understand key aspects of their financial position and impact of debt.

6 Use a strengths-based approach.

6.1Communicate information in a manner that responds to the emotional state of the client.
6.2Establish and observe boundaries with clients.
6.3Implement self-care processes to manage trauma related to client experience.

7 Make referrals.

7.1Identify areas for ongoing support and opportunities for specialist referral to other agencies or professionals.
7.2Proactively identify and explain support services available to the client.
7.3Make an appropriate referral with client consent if client need is identified as outside scope of own work role.
7.4Seek advice or secondary consultation if necessary.

Performance evidence

conduct initial consultation meeting for at least five clients according to organisational practice
for the above clients establish client file according to organisational requirements including:
confirm client details
determine financial position or situation
assess capacity to meet financial obligations
identify additional information for follow up meeting
confirm understanding of client and service responsibilities
perform the activities outlined in the performance criteria of this unit during a period of 220 hours of work in a financial counselling agency that has met the requirements for the Australian Securities and Investments Commission (ASIC) exemptions from holding a financial services or credit licence or in a simulated environment. These 220 hours may be applied collectively across all units of competency that include the requirement for workplace hours for the purposes of assessment.

Knowledge evidence

financial counselling role, including:
giving advice to and sharing information with clients
representing client and acting on the client’s behalf
duty to act in the client’s best interests
ethical obligations, including as set out in the Australian Financial Counselling Code of Ethical Practice
having expertise in a range of areas relating to financial difficulty
financial counsellors are not:
financial planners or accountants
providers of emergency relief and material aid
finance brokers
legal advisors or solicitors
therapeutic counsellors
business advisors
tax agents
agency intake and screening processes, including:
risk assessment
screening tools
referral protocols
situations where the client is outside the scope of the service, such as the need for specialist counselling
criteria for assessing suitability for service, including:
individual factors:
safety
capacity to make decisions
urgency/assets at risk, other vulnerabilities
agency intake criteria:
funding agreement requirements
any resource constraints
situations where conflicts can arise and how they are managed so that the financial counsellor is clear about who is the client:
involving parties with conflicting needs
involving a current client and a former client
involving the client and the financial counsellor’s interests
providing services to families or couples
providing services where there is a power of attorney
processes for undertaking conflict checks
rights and responsibilities of workers, employers and clients
relevant client documents, hard copy or online,) such as:
income sources (e.g. Centrelink income statements)
liability and debt statements
legal documents and contracts
bills
support letters such as medical or other
client-centred, strengths-based approaches to financial counselling and other counselling models consistent with these approaches
aspects of informed consent including:
privacy statement
checking for understanding
varying or ending agreement
general principles in the law in relation to confidentiality and privacy and any agency policies that may interact with these
exceptions to confidentiality including:
client consent
being compelled by law e.g. subpoena
prevention of harm to client or another person
mandatory reporting
other reasons specific to states and territories
children in the workplace
complex needs that may impact advice given:
mental illness
addictions including:
substance abuse, gambling
trauma including:
family violence, elder abuse, victim of other violence, child abuse
disability
age
poverty
homelessness
cultural background
income sources such as:
wages and salary
Centrelink
child support
rental or board
superannuation income stream or lump sum
insurance payment including Total and Permanent Disability (TPD) and income protection
business income
compensation including workers compensation, injury and accident
other income sources
expenditure support relating to:
utilities
housing
cost of living
emergency relief and other assistance:
key aspects of financial positions, including:
income
expenses
liabilities
assets
Surplus/ deficit
Cash flow for small business
equity
tools for collecting financial information:
income and expenses including the Australian Securities and Investments Commission and Money smart website
statement of financial position
intake and assessment form
financial statements for small business
creditor’s list
assets and liabilities statements and records
key information about a debt including:
how the debt first came about
legal framework applied to it at the time
age of the debt
contract
stage of collection of the debt and enforcement activity
legal liability for the debt or ownership of the debt
resources for clients:
use of Money Smart resources (ASIC)
use of National Debt Helpline website
types of debt and their features, including:
secured or unsecured
unsecured credit products including credit cards, personal loans, Buy Now, Pay Later (BNPL), wage advance, Small Amount Credit Contracts (SACCs) and Medium Amount Credit Contracts (MACCs)
consumer leases
fringe lenders and predatory lenders
joint relationship debts
guarantors and co-borrowers
tax debts
fines and infringements
government related debts
National and State or Territory legislation, codes of practice and guidelines including but not limited to:
consumer protection laws
regulatory guidance and industry codes affecting consumers and small business
National Consumer Credit Protection Act 2009 (particularly Schedule 1, National Credit Code and the provisions relating to responsible lending, hardship requirements)
Competition and Consumer Act 2010 (particularly Schedule 2, The Australian Consumer Law)
fair trading acts
social security law
taxation law
Privacy Act and credit reporting code
Bankruptcy Act 1966
ASIC regulatory guides, ASIC/ACCC debt collection guidelines
Banking Code of Practice, Customer Owned Banking Code of Practice, Telecommunications Consumer Protection Code, energy codes, Buy Now Pay Later Code of Practice
Open data and the consumer data right
agency protocols surrounding referral and secondary consultations
local networks for referral and support, including and not limited to:
legal aid
family law
welfare rights centres
community legal centres
specialist legal centres
mental health support services
alcohol and other drug (AOD) support services
health services
child and family services
small business advisory services
family violence support services.

Foundation skills

Reading skills: • source and interpret information from a range of complex documents.
Writing skills: • generate documentation as per organisational guidelines in terms of format, style, structure, intended audience and purpose.
Oral communication skills: • ask open and closed questions to gather and confirm information from interviewee • participate in a variety of spoken exchanges with others using clear and direct language to convey, request and confirm understanding of information.
Numeracy skills: • read and interpret numerical data from familiar and unfamiliar financial reports. • use routine and complex calculations.
Learning skills: • use a proactive learning approach.
Problem-solving skills: • identify and analyse discrepancies in information gathered.
Technology skills: • use main features and functions of technology and software programs to complete work tasks.

Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.

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Questions about assessing CHCFIN006

What does an assessment tool for CHCFIN006 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for CHCFIN006 needs to address all 192 unit components: 7 elements with 36 performance criteria, 8 performance evidence requirements, 141 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for CHCFIN006?

Auditori pulls the current release of CHCFIN006 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for CHCFIN006 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing CHCFIN006 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of CHCFIN006, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.

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