Digital Statement of Advice

Sample Statement of Advice written by the adviser for the client. Click on the TAB, Report. The digital version created for the Client Review Gateway may be a cut-down version of the full Statement of Advice that can be uploaded to the Documents TAB.

ASIC has set out requirements in a document (RG90) for the requirement an adviser must give when advising on the client’s insurance needs. This is the Statement of Advice for Insurance Needs Only, that was created for presentation at the FPA Congress 2019.

The Plan Map Illustrated records in easy-to-understand text, the transactions undertaken for each account.  Graphs for each account demonstrate the projected outcomes over the length of the plan.

The Report TAB, demonstrates on a year-by-year basis for the first five years of the plan, the estimated outcomes of the plan.  The Table of Contents lists each section to be considered.

This report is designed for clients with excessive debt.  The aim is to demonstrate how to reduce debt.  It is intended to be used during a meeting.  As the adviser and client agree on the best way forward, the plan can be updated and a new report generated immediately.

This Report is intended to demonstrate how a client who is in the Retirement Phase may draw down their superannuation, other investments and if eligible, social security benefits as a layered income stream.

This report is intended to demonstrate to the client the plan’s projected results and the actual results.  Each year, the adviser will need to add the client’s current finances for that year.

This Report was created, when the FPA requested we create a short digital report for clients who wanted to access $10,000 during the two years of COVID.  Advisers were restricted to charging $300 so the report had to be short.  However, under certain circumstances, clients can sometimes access superannuation before retirement and this report demonstrates how that is accommodated in the software.