FNSCUS515 — Determine client financial requirements and expectations

1 Establish client’s personal and financial situation

• 1.1Obtain from authorised representative all available information on client required to identify client’s situation according to organisational procedures and professional protocols
• 1.2Identify and clarify with authorised representative client expectations, needs and objectives
• 1.3Develop summary analysis of client’s financial position and determine their contact category based on extent of client disclosure
• 1.4Determine if client requires execution or settlement-only action and do not offer or provide further advice
• 1.5Update organisational system with required client information

2 Determine client’s financial position and risk profile

• 2.1Review summary analysis and communicate with relevant stakeholders to confirm client’s financial position according to organisational procedures
• 2.2Identify risk and fraud indicators and take required action according to organisational procedures
• 2.3Record assessment of client’s financial position where required

3 Assess client preferences relating to financial investment products

• 3.1Determine client investment needs and preferences with respect to financial product and service selection or portfolio
• 3.2Clarify client requirements, expectations and concerns with authorised representative, and respond to identified concerns according to professional protocols
• 3.3Obtain specialist advice where necessary or refer client to relevant personnel or organisation if required services cannot be provided by organisation
• 3.4Analyse information provided by authorised representative and determine risk or reward and asset allocation strategies according to client and legislative requirements, organisational policies and procedures and industry codes of practice

4 Prepare documentation

• 4.1Complete required client information, financial and personal histories and disclosure documentation according to organisational procedures
• 4.2File completed documentation and information according to legislative and regulatory requirements, and organisational policies and procedures
• 4.3Create or update organisation’s client records as required and according to organisational procedures

What does an assessment tool for FNSCUS515 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSCUS515 needs to address all 33 unit components: 4 elements with 15 performance criteria, 3 performance evidence requirements, 7 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 FNSCUS515?

Auditori pulls the current release of FNSCUS515 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 FNSCUS515 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing FNSCUS515 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 FNSCUS515, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.