Finance Answers

Briefly explain the content and implications of the client investment mandate as prescribed by the FSCA (previously FSB).

IDENTIFY the key target markets serviced by your bank and LIST two (2) products/services that have been designed for each target market

The Financial Services Control Authority (previously the FSB) has prescribed minimum content requirements for a client investment mandates. IDENTIFY two (2) of these requirements and EXPLAIN the implications of these for sales in the sector.

LIST three (3) questions you ask clients in order to establish their banking needs in terms of product quality, price and usage. SUMMARISE the client’s response to each question

 EXPLAIN how you have applied these minimum guidelines when advising a client on specific products.

 Requirement 1:

Requirement 2:

EXPLAIN what you think your client’s buying motives were.

 EXPLAIN how your bank develops new products to meet client needs.

3.1    DESCRIBE the features, advantages and benefits of each of the products /services in detail. (Please note that features, advantages and benefits (FABs) must be addressed as separate items – and you may find this easier to do as a table)

3.2    Present the FABs for the two (2) products to your client and:

3.2.1  Explain the application of the product specification per product

3.2.2  Assess the client’s responsiveness per product to establish their acceptance of each product.

3.3    EXPLAIN how the FABs matched your client’s banking needs.

3.4    Provide evidence showing how you were able to evaluate whether or not the FABs matched your clients’ needs.

Provide sales related services within the banking sector.

Produce and present banking-related sales solutions.

Explain why it is important to identify a client’s organisational qualities, culture and current practices.