FPA’s short form SOA ready to use
Jo-Anne Bloch
Following extensive industry and consumer consultation, the Financial Planning Associationof Australia(FPA) has declared its shortened Statement of Advice (SOA) ready for members to use.
The 10-page, plain English SOA was unveiled at the FPA 2007 National Conference and has since received regulatory and financial planner support.
Independent consumer research into the shortened SOA resulted in the FPA adding more diagrams and step-by-step processes while further minimising jargon.
FPA chief executive Jo-Anne Bloch said the document included all the key components required in an SOA, but in a shorter, more concise version.
An example of the document is available at www.fpa.asn.au.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
