Tier II

RG146: Tier II ASIC Compliance (Tier 2)

Welcome to ISM’s Tier II short course. Successful completion of this course will enable you to meet your RG146: Tier II ASIC compliance obligations.

Tier II certification is an ASIC requirement to anyone who provides advice to retail clients. To find out more about your ASIC requirement please visit ASIC’s website.

In this module, we provide information on two units of learning. They are:

·      FNSASIC301 - Establish client relationship and analyse needs

·      FNSASIC302 - Develop, present and negotiate client solutions

Throughout this module we look at the skills and knowledge required to interpret and comply with industry regulations and codes of practice when considering the characteristics of financial products and services for individual client needs. We also provide foundation knowledge on how to provide advice on deposit products, non-cash payment facilities and general insurance products.

By the end of this module, participants should be able to:

·      Establish a relationship with a client and identify and analyse their objectives, needs and financial situation and risk profile.

·      Develop and present appropriate strategies and solutions

·      Negotiate and coordinate a financial plan, policy or transaction with client

·      Complete and maintain necessary documentation

·      Provide ongoing service where requested by client

Upon completion of this module, you may want to complete another unit of learning which looks at General Insurance. Please speak to your organisation to see if this unit is also a requirement in your role:

·      FNSASIC305 - Provide Tier 2 personal advice in general insurance