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
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
