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
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
