NZQA registered unit standard
28198 version 1
Page 1 of 5
Title
Apply advice process within predetermined guidelines in
family/personal budgeting
Level
4
Purpose
Credits
10
This unit standard is for people working or intending to work in
a family/personal budgeting advice context who need to apply a
professional advice process within predetermined guidelines
when interacting with clients.
People credited with this unit standard are able to:
– establish relationships with clients;
– identify client objectives, needs, and financial situation;
– analyse client objectives, needs, and financial situation, and
develop options to meet client requirements;
– present appropriate options to the client in a culturally
appropriate way that the client understands;
– agree and finalise the selected option(s) with the client and
coordinate implementation of the selected option(s); and
– agree on and provide ongoing monitoring for the client.
Classification
Financial Services > Financial Advice
Available grade
Achieved
Explanatory notes
1
This unit standard has been developed for learning and assessment on-job or off-job
in a pre-employment context using a realistic simulation. Where this unit standard is
completed in a pre-employment pathway or non-client facing role, and evidence is
provided by case study or simulation, an explanation of how or why particular
activities or steps are performed can be used to support an assessor’s judgement of
competency.
2
References
Consumer Guarantees Act 1993;
Credit Contracts and Consumer Finance Act 2003;
Fair Trading Act 1986;
Financial Transactions Reporting Act 1996;
Income Tax Act 2007;
KiwiSaver Act 2006;
Privacy Act 1993;
Securities Markets Act 1988;
Trustee Act 1956;
Trustee Amendment Act 1988;
industry codes of practice;
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28198 version 1
Page 2 of 5
and all subsequent amendments and replacements.
3
Definition
Predetermined guidelines – guidelines developed by product providers and/or
organisations incorporating recommended usage and practice.
4
Range
a Evidence relating to a minimum of two clients is required to cover a representative
range of needs and options in the family/personal budgeting advice sector as
appropriate to the candidate’s area of work or proposed work.
b Employed candidates are expected to be working within predetermined guidelines
and this needs to be considered in the development of options, which may not be
fully flexible.
c All activities must comply with any policies, procedures, and requirements of the
organisations involved; the standards of relevant professional bodies including
codes of ethics; and any relevant legislative and/or regulatory requirements.
Outcomes and Evidence Requirements
Outcome 1
Establish relationships with clients.
Evidence Requirements
1.1
Use a range of communication and interpersonal skills to establish a
relationship with the client.
Range
1.2
Explain the terms of engagement between the client and the budgeting service
in a way the client understands.
Range
1.3
includes but is not limited to – questioning and listening, rapport
building, establishing the client’s level of financial literacy, tailoring
communication to client’s level of financial literacy.
terms of engagement may include but are not limited to –
voluntary participation, cost, confidentiality, expectations of client
disclosure, expectations of service, client need to control choices,
non-judgemental nature of relationship.
Explain complaints handling procedures and the circumstances in which those
procedures should be engaged in a way the client understands.
Outcome 2
Identify client objectives, needs, and financial situation.
Evidence Requirements
2.1
Identify and document relevant client personal and financial details.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
Range
2.2
28198 version 1
Page 3 of 5
information gathered from the client may include but is not limited
to – household make up, income sources and amounts,
contractual obligations including contracts for services and credit
contracts, other liabilities, assets, banking information, cultural and
family obligations, tax, client life stage.
Identify and document client needs and expectations, objectives, and short,
medium, and long-term goals as relevant to the situation.
Range
may include but is not limited to – debt management, access to
essential items and services, savings plan, accessing emergency
funds, financial management ability, security for family.
Outcome 3
Analyse client objectives, needs, and financial situation, and develop options to meet client
requirements.
Evidence Requirements
3.1
Document assets and liabilities, and produce a budget worksheet to analyse
client financial situation.
3.2
Check gathered information for accuracy with available documentation and
obtain the client’s confirmation of accuracy.
3.3
Analyse client’s financial position in relation to their objectives and needs.
3.4
Analyse the need for specialist advice and refer the client to specialist services
where appropriate.
3.5
Conduct relevant research and analysis to determine possible options for the
client in accordance with predetermined guidelines.
3.6
Determine appropriate options to provide for identified objectives and needs
from analysis of gathered information.
Range
3.7
options may include but are not limited to – financial crisis
management, creditor negotiation, development of balanced
budget and cash flow forecast, financial education, achieving
financial self-management, debt management, analysis of
household spending patterns and suggested changes, legislative
advocacy.
Draft appropriate options for presentation to the client in a clear and concise
manner that the client understands.
Outcome 4
Present appropriate options to the client in a culturally appropriate way that the client
understands.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28198 version 1
Page 4 of 5
Evidence Requirements
4.1
Build credibility with the client by demonstrating knowledge of different
mechanisms and systems available in a budgeting advice context.
4.2
Explain and discuss the options with the client in a clear and unambiguous way,
and reinforce and confirm relevant details with the client.
4.3
Disclose impacts and possible risks of the options in a clear and concise
manner that the client understands.
Outcome 5
Agree and finalise the selected option(s) with the client and coordinate implementation of
the selected option(s).
Evidence Requirements
5.1
Discuss and address concerns and/or issues the client has regarding the
proposed options in a way the client understands.
Range
concerns and/or issues may include – affordability, fluctuations in
income, changes of circumstances, need for ongoing support.
5.2
Gain and document the formal agreement of the client to the selected option(s)
and confirm that they fully understand all elements of the selected option(s).
5.3
Provide the client with written supporting documentation of the selected
option(s) and guide them through the key aspects of the documentation.
Documents may be provided in either electronic or hard copy form.
5.4
Clearly explain timeframes and responsibilities for execution and processing of
the selected option(s) and gain confirmation of understanding from the client.
5.5
Monitor implementation to ensure all required actions are completed as agreed.
Outcome 6
Agree on and provide ongoing monitoring for the client.
Evidence Requirements
6.1
Agree with the client the type and form of ongoing monitoring, including
reporting on performance and review of effectiveness of implemented option(s).
6.2
Provide ongoing monitoring as agreed with client.
Planned review date
The Skills Organisation
SSB Code 100401
31 December 2017
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28198 version 1
Page 5 of 5
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
18 June 2014
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact The Skills Organisation reviewcomments@skills.org.nz if you wish to
suggest changes to the content of this unit standard.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016