FNSFPL615 — Present and negotiate financial plans

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What an assessment for FNSFPL615 must cover

50 assessable components: 5 elements (21 performance criteria), 4 performance evidence and 15 knowledge evidence requirements, plus 10 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 Analyse available information on financial plans and identify client needs

1.1Identify and assess available information on client needs and objectives and address capacity and roles of relevant stakeholders
1.2Identify and document client concerns and enquiries according to organisational policies and procedures
1.3Identify services that meet client needs and objectives
1.4Identify and explain client strategies and recommendations in financial plan and discuss impact of recommendations with authorised representative

2 Present financial plan

2.1Prepare and discuss financial plan with authorised representative according to organisational policies and procedures
2.2Guide authorised representative through assumptions used in formulating plan and discuss degree to which variations in assumptions may impact on expected outcomes
2.3Discuss proposed actions with authorised representative and obtain written agreement of actions according to organisational policies and procedures
2.4Explain fees, charges and commissions in financial plan according to organisational policies and procedures

3 Establish and negotiate implementation actions

3.1Disclose any commercial relationships of representative and organisation to products and services mentioned in plan
3.2Identify and negotiate issues that may require further consideration and refer to relevant financial services professionals and specialists
3.3Provide copies of research and other documentation to authorised representative and confirm understanding of recommendations presented

4 Negotiate plan-related matters effectively

4.1Assist authorised representative regarding solutions to client needs and objectives, and present alternatives to recommendations when requested
4.2Identify and assess any complaints according to organisational policies and procedures and professional protocols
4.3Maintain communication channels when dealing with complaints and observe internal and external complaint handling procedures and professional protocols
4.4Obtain agreement in principle from authorised representative to proceed

5 Finalise plan and maintain required documentation

5.1Seek feedback from authorised representative on financial plan
5.2Adjust financial plan according to feedback, complete proposal and related documentation, and obtain sign-off to agreed plan
5.3Create and update client records and complete contract variations if required according to organisational procedures
5.4Confirm completion with authorised representative
5.5Record client advice according to current industry documentation requirements and organisational policies and procedures
5.6Ensure instructing or purchasing documentation is signed by client where required

Performance evidence

present and negotiate three different financial plans, each to a different authorised representative.
present and negotiate preliminary, amended and final draft of financial plan to authorised representative that provides justification and research evidence for all elements of the plan
comply with and observe limits imposed by legislative requirements, regulations, codes of practice, and organisational policies and procedures
obtain feedback and agreement on plan from authorised representative.

Knowledge evidence

legislative requirements, regulations and codes of practice relating to financial planning, including: terms of the Acts relating to financial plans
legislative requirements, regulations and codes of practice relating to financial planning, including: organisational policies and procedures, including: internal and external complaint handling and dispute resolution procedures and protocols
legislative requirements, regulations and codes of practice relating to financial planning, including: organisational policies and procedures, including: client record management and industry documentation requirements
legislative requirements, regulations and codes of practice relating to financial planning, including: impact on clients’ financial planning needs of relevant: economic, taxation and social security policy
legislative requirements, regulations and codes of practice relating to financial planning, including: impact on clients’ financial planning needs of relevant: estate planning and insurance considerations
legislative requirements, regulations and codes of practice relating to financial planning, including: requirements relating to disclosure of capacity
key features of financial planning industry, including: investment and savings vehicles
key features of financial planning industry, including: financial markets
key features of financial planning industry, including: asset classes and investment characteristics
key features of financial planning industry, including: products available in the financial services industry
key features of financial planning industry, including: investment risk factors and their relationship to return expectations
key features of sales and marketing media and methodologies
products available in the financial services industry and advice offered
advantages, risks and disadvantages of financial plan proposals
role of clients’ authorised representatives and financial planning practice in the development of financial plans.

Foundation skills

Learning: Maintains accurate and current knowledge of products and legislative requirements relevant to role
Numeracy: Performs calculations and uses analytical techniques to determine trends and compare complex financial information Analyses, records and stores data according to organisational requirements
Oral communication: Uses active listening and questioning techniques to elicit the views of others and confirm understanding Presents detailed and comprehensive information, options and recommendations using language, tone and pace relevant to audience and purpose
Reading: Researches and manages information and products to determine appropriateness to client needs Consolidates and evaluates information from a range of sources to form a holistic perspective of complex situations and to identify implications
Writing: Synthesises and presents comprehensive financial and textual information using relevant formats and concepts for the audience and purpose Uses clear and unambiguous language, avoiding jargon and in a language relevant to the receiver
Planning and organising: Plans, sequences and prioritises complex tasks to meet legislative and organisational requirements, ethical standards and client requirements
Problem solving: Uses systematic, analytical problem-solving processes in complex routine and non-routine situations by gathering information and identifying and evaluating options against agreed criteria Systematically evaluates complex information to make informed decisions
Self-management: Takes responsibility for behaving ethically and ensuring that documentation and processes comply with legislative and organisational requirements
Teamwork: Uses collaboration techniques to negotiate agreement Adapts personal communication style to show respect for the opinions, values and needs of others
Technology: Uses the main features and functions of digital tools 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 FNSFPL615

What does an assessment tool for FNSFPL615 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSFPL615 needs to address all 50 unit components: 5 elements with 21 performance criteria, 4 performance evidence requirements, 15 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 FNSFPL615?

Auditori pulls the current release of FNSFPL615 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 FNSFPL615 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing FNSFPL615 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 FNSFPL615, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.

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