FNSASICT513 — Provide wholesale advice in managed investments

1 Establish relationship with client and identify client’s needs and financial situation

• 1.1Establish knowledge level, objectives, risk profile and goals of client
• 1.2Explain range of products and services available to client according to client objectives and goals and respond to enquiries where required
• 1.3Inform client about role of adviser and licensee or principal responsible for adviser’s conduct
• 1.4Analyse client’s financial and business details and assess client’s financial needs
• 1.5Establish product risk profile of client, including their expectations of cash flow and relevant taxation obligations

2 Develop strategies and solutions according to clients objectives, needs, financial situation and risk profile

• 2.1Assess client needs using information gathered, taking into consideration client’s product expectations and specific needs
• 2.2Consult and clarify with client throughout analysis where required
• 2.3Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice where required
• 2.4Assess and confirm product risk profile of client
• 2.5Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs
• 2.6Conduct relevant research, analysis and product modelling and draft appropriate solution, plan, policy or transaction for presentation to client

3 Present strategies and solutions to client and determine financial plan, policy or transaction

• 3.1Explain proposed strategy and/or solution to client according to organisational policies and procedures, legislative and regulatory requirements
• 3.2Reinforce all relevant details, terms and conditions of product and service
• 3.3Disclose impacts and possible risks of product or service
• 3.4Provide supporting written documentation according to legislative requirements and organisational policies and procedures
• 3.5Discuss and clarify any concerns or issues client has regarding proposed plan, policy or transaction
• 3.6Confirm that client understands proposed plan, policy or transaction

4 Agree to plan, policy or transaction and complete documentation

• 4.1Obtain client’s formal agreement to proposed plan, policy or transaction
• 4.2Explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing
• 4.3Confirm that proposal and all other statutory and transactional documents are completed and signed off by client
• 4.4Exchange copies of signed agreement and other required documentation

5 Provide arrangements for ongoing service, where requested by client

• 5.1Confirm that type and form of ongoing service, including review of products or services, is agreed with client
• 5.2Explain and confirm fees and costs for ongoing and specifically defined service, and confirm client understands all details
• 5.3Implement procedures for agreed ongoing service according to organisational policies and procedures

What does an assessment tool for FNSASICT513 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSASICT513 needs to address all 72 unit components: 5 elements with 24 performance criteria, 3 performance evidence requirements, 39 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 FNSASICT513?

Auditori pulls the current release of FNSASICT513 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 FNSASICT513 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing FNSASICT513 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 FNSASICT513, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.