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Showing 51 - 60 of 273 results for "Statement of Advice"

Quality of Advice must consider digital: Ignition

ELIZABETH MCARTHUR  |  MONDAY, 31 JAN 2022
... used to refer to the digital enablement of advice delivery. It can include delivery of personal advice with a Statement of Advice that complies with the best interest duty and related obligations. "From the perspective of Ignition Advice, if a serious ...

Most paraplanners will not become financial advisers

KARREN VERGARA  |  THURSDAY, 20 JAN 2022
... report said. In the future, it could be possible to have both adviser and paraplanner names sign off on the Statement of Advice. It takes paraplanners four to six hours to complete a standard SOA that are priced between $451 and $550.

ASIC sets out limited advice expectations

KARREN VERGARA  |  THURSDAY, 2 DEC 2021
... information sheet INFO 267: Tips for giving limited advice provides tips. It also released an example limited advice Statement of Advice advisers can use as a template. ASIC tells advisers to "use your professional judgement when identifying the subject ...

ASIC outlines ROA guidance

ANNABELLE DICKSON  |  FRIDAY, 5 NOV 2021
... asked questions about usage, preparation and record keeping. It also outlines the exemptions from providing a Statement of Advice (SOA) e.g. where there is no buy or sell advice, where the advice relates to an investment no larger than $15,000, COVID-19 ...

Industry mixed over FSC advice framework

ANNABELLE DICKSON  |  FRIDAY, 15 OCT 2021
... steps abolished as a result of complying with the Best Interests Duty, and the Letter of Advice to replace the Statement of Advice and Record of Advice by 2023. Synchron director Don Trapnell said these proposals make sense but called into question the ...

ASIC extends SoA relief measure

KARREN VERGARA  |  THURSDAY, 14 OCT 2021
Corporate regulator ASIC is extending the temporary Statement of Advice relief measure until 15 April 2022. This marks the second time that ASIC has extended the relief measure, which enables advisers to replace SoAs with Records of Advice for existing ...

FSC advice reforms slash time, costs by 30%

KARREN VERGARA  |  TUESDAY, 12 OCT 2021
... costs. Simplifying the advice model would lead to a 9% reduction in the cost of production, while removing the Statement of Advice in place of the Letter of Advice would help reduce overall costs by 17%. Further, adopting the changes could potentially ...

IDII pitfalls advisers should avoid

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
... features - provided that the costs incurred are understood. Cameron urged advisers to document everything in the Statement of Advice or Record of Advice and that the client understands the recommendations. "If the rising cost of cover is something that ...

ROAR launches interactive SOA tool

KARREN VERGARA  |  TUESDAY, 10 AUG 2021
Financial planning technology firm ROAR Software has launched a Statement of Advice solution that comes with a human avatar. DynamicDocs, launched in partnership with customer engagement video software platform HumanableCX, converts Word-based SOAs ...

Advisers overlook home equity release strategies

KARREN VERGARA  |  THURSDAY, 22 JUL 2021
... according to new research. Regtech Fourth Line and retiree financial services provider Pension Boost looked at the Statement of Advice of 15 licensees and 1980 financial advisers. Of the 5000 SOAs produced between 1 July 2019 to 15 May 2021, not one ...