A Statement of Advice (SOA) is a document that sets out the advice given to a client by a financial planner or adviser.
It must include the advice given including context on which the advice has been based, and information about fees, commissions and associations you as the financial planner or adviser will receive.
The aim is to ensure that your clients receive good quality advice and are able to make informed decisions.
Our vast paraplanning experience from working with over 20 different dealer groups and 100 financial advisers allows us to recognise that it is not a one-size-fits-all approach when it comes to delivering you the SOA you need.
Our paraplanners are highly experienced and skilled at writing SOAs to meet your compliance needs, business rules and style preferences.
By outsourcing your SOAs to One Degree Paraplanning, you will have peace of mind in knowing that your documents are being delivered by experienced paraplanners at a fraction of the cost of employing in-house paraplanners.
Our SOA paraplanning service includes all additional services offered by One Degree Paraplanning, such as product comparisons and modelling, so you are able to benefit from a complete outsourced paraplanning solution.
If you give personal financial advice to retail clients, then yes, you must provide a Statement of Advice (SOA). The SOA is a requirement under Australian law, among other financial advice disclosure obligations, to ensure that your clients receive good quality advice and are able to make informed decisions. It is important to comply with these regulations to maintain your credibility and reputation as a financial advisor, and to ensure the protection of your clients’ interests.
For more information on requirements for statements of advice, please feel free to contact our team.
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