peter has completed several diploma courses including a dimploma in finance and mortgage broking management and a diploma of financial services qualifying him to work in these two discplines. He has been practising as a mortgage broker since obtaining these qualifications. During a conversation with a client while arranging a home loan, the client requested Peter's advice regarding a small share portfolio he currently holds. Which of the following actions should peter take so he would not be in breach of the financial services reform ACT?

1. As peter has the appropriate qualifications, he can provide personal advice to his client regarding their share portfolio 2. Peter informs his client that he is not qualified to provide personal advice on investment products but can make arrangements with a financial planner to assist. 3.Peter informs his client that he can provide suggestions but gives the client the option to seek advice with the financial planning specialist. 4. Peter informs his client that currently his organisation is having great success on the share market