FNSCUS501: Case Study Analysis on Developing Client Relationships

This assignment provides solutions to case studies related to FNSCUS501 Develop and nurture relationships with clients, other professionals, and third-party referrers. It covers key aspects of mortgage broking, including effective communication, interpersonal skills, and adapting to clients' cultural needs. The analysis of Case Study 1 emphasizes clear communication and long-term relationship building. Case Study 2 focuses on high-level communication and negotiation to avoid misunderstandings, especially with migrant clients. The assignment also addresses organizational goals, policies, and procedures needed to improve client interactions and ethical conduct in mortgage broking. It highlights the importance of empathy and understanding client backgrounds for effective service delivery. The document is aimed at providing guidance and insights for students studying finance and mortgage broking management.

F NS5 0 31 5 Di pl o m a of F i n a nce a nd M ort g a g e B roki n g M a na g e m en t
F N S C US 5 0 1 De ve l op and nur tur e r e lati onshi ps w i th cli e nts, other
professionals and third party referrers
Assessment

Instructions to complete this assessment
In order to complete this assessment, you are required to complete the following sections
consecutively. Details and specific instructions are provided within each section and on the
form/templates provided.
Supporting documents
To find the relevant supporting documents, please refer to the Assessment Resources folder, located
within the FNSCUS501 Develop and nurture relationships with clients, other professionals and third party
referrers section of your course or click on the link above.
Requirements
Step 1: D ownload a nd r eview the document , “Professional Relationship C ase S tudies” located in the
Assessment Resource s folder.
S te p 2: R es pond to the qu e st ion s 2.1 -2 .4 , r e ferr in g to the P ro f essi o nal Re lat i onshi p C a se S t udi e s
document when developing your responses:
2.1 Read Case Study 1. What could a Mortgage Broker learn from this case study about liaising,
developing, and securing longstanding and effective relationships?
Mortgage broker is basically act as an intermediary between the lender and borrowers. Their work is to provide the best
financial products to borrowers and best customers to banks so that their revenue increases. Hence, this case study is
quite beneficial for the mortgage broker to learn about the effective professional relationship. The broker have to learn
that they do not assume anything by their own and despite this they have to clearly communicate with its clients. Along
with the communication, the mortgage broker also need to make sure that the message they convey to party have not
misunderstood it. It is because the misunderstanding of message convey the packing requirement has leads to spoil
fruits. But because of the mutual understanding and long-term relationship importance between the grower and air
freight service provider the service provider paid 50% value compensation and grower paid 50% of freight forwarding
fees (Goldberg and Warburton, 2021). With the same case, it is also important for the mortgage broker that
maintaining long-term professional relationship with the clients is more important than the short-term commercial
benefits. The lack of communication may also lead to wrong recommendation of financial products along with the bank
loan valuation.
2.2 Read case study 2. Assume the purchaser has been referred to a commercial property conveyancer
by the mortgage broker. How could the mortgage broker apply high level communication, negotiation,
interpersonal and relationship management skills to avoid the situation described in the case?
Interpersonal communication is one of the best way to solve the large issue in minute of time and also to keep
themselves different from the other broker. In this case study, the client was a migrant and also was from other country
having lack of knowledge of matters specified in SOA (Randall, 2018). The client also do not familiar with the
Australian language and procedures. So, it is the duty and responsibility of the mortgage broker that they should convey
all the terms and conditions attached with the documents to their clients in order to maintain strong relation with the
same client.

2.3 With regard to Case Study 2, what goals, policies, or procedures of the mortgage broker’s
organisation might need to be addressed?
In the given case there can be seen ineffective communication that took place between the client and the mortgage
broker organization that could be overcome if the the latter have adopted better goals for facilitating effective
interpersonal communication between them and their different parties. Also, they might not be currently addressing their
business code of conduct which is evidenced from their behaviour with the client which they need to address in their
further dealings (Sadler and et.al., 2019). Furthermore, they must concentrate on their legal and internal policies,
broking practices and procedures as the current one is not apt as per the required of the mortgage broking industry
through which better provision of legal advice and understanding of client's obligations can be ensured.
2.4 Read case study 2. How should the mortgage broker have adapted to any special cultural needs of
his client?
Communication is key to success for the mortgage broker for which they must adapt the three Es skill which
includes effectiveness, empathy and education. With the help of empathy skills, the mortgage broker can
understand the cultural needs of the clients and increase their understanding with the clients (Banks and et.al.,
2020). Adaption of these skills helps the broker to understand from where their clients belong and how they will
react on different situation. It means understanding moods and physical health of the clients will affect their
decision and if the broker able to understand it they can change their clients decision very easily and effectively.

REFERENCES
Books and Journals
Goldberg, E. M. and Warburton, R. W., 2021. Ends and Means in Social Work: the development and
outcome of a case review system for social workers. Routledge.
Randall, S. B., 2018. Generating Business Referrals Without Asking: A Simple 5 Step Plan to a Referral
Explosion. Morgan James Publishing.
Banks, S. and et.al., 2020. Social Workers under the Spotlight: An Analysis of Fitness to Practise
Referrals to the Regulatory Body in England, 2014–2016. The British Journal of Social
Work. 50(2). pp.326-347.
Sadler, E. and et.al., 2019. Service user, carer and provider perspectives on integrated care for older
people with frailty, and factors perceived to facilitate and hinder implementation: A systematic
review and narrative synthesis. PloS one. 14(5). p.e0216488.