Question

Describe how you research and consider complex broking solutions based on the clients' needs? (must refer to - consideration of financial issues in terms of economic, legislation, taxation, legal and insurance. - The process used to reject inappropriate options including checks to ensure compliance with relevant Acts)

Answer 1

First, complicated broking needs of client is identified. The second step is to research and consider complex broking solutions based on the clients' needs after identification.

Research and consider complex broking solutions based on the clients' needs

It is one of the element describing the necessary outcomes. The following performance criteria helps in determining the performance requirement to achieve the targets of this element:

• Current client situation must be analyses for determination of any opportunities and constraints.
• Loan structures and options must be researched, those that are new and non-standard product must also be researched.
• Consideration of financial issues in terms of economic, legislation, taxation, legal and insurance
• Modeling, analyzing and promising options, comparison of features, fees and risks of different options and rejection of options which are not appropriate.
• Preliminary options must be checked in order to see its compliance with relevant legislation and ethical guidelines and whether they are able to meet client needs.

Lastly, selection and gathering of appropriate options for client requirement is done.