What is in The Plan?

The plan is a regulated document known as a Statement of Advice - SoA

The Financial Services Reform Act (FSRA) of the Corporations Act 2001 states that any client receiving financial product advice from an Authorised Representative (Financial Advisor) be entitled to receive a written record of the personal advice that has been given.

This written record is referred to as a Statement of Advice (SoA).

In Your Interest Financial Planning provides three types of SoAs

This is an extensive document with detailed personal advice based upon a full fact find and assessment of the client's circumstances, specific goals and objectives.

It provide full details about the advice being given, the basis upon which it was given, the steps involved in implementing the advice and the costs of doing so.

It is recommended for new clients, clients that are requiring strategic comprehensive advice or retiring.

This one is used where the client specifically acknowledges that they do not require a full assessment of their goals and objectives. In this case they may want to purchase a particular product or kind of product and would like specific advice in relation to that product only.

3. No Advice

This occurs when a client only wants to purchase a financial product without any assistance from the advisor. In this case the advisor is used only as an "order taker" to complete the transaction.

The SoA is a really useful and practical document.

It provides both the client and the advisor with clear written documentation of exactly what was said and agreed to. It is a great opportunity to ensure that all personal information can be reviewed and confirmed for accuracy. It also provides an accurate record to refer to for future financial reviews.

The Comprehensive Plan will review your current situation and investments in detail and it will cover many issues including:

• modelled returns from your existing and proposed investments
• compatibility of your current and proposed investments with your goals and objectives
• risks associated with exposure to specific investment categories
• current and prospective tax liabilities and potential Centrelink pensions or benefits
• current and proposed personal insurance and property insurance arrangements
• current and prospective projected retirement planning positions
• current estate planning position and recommended strategies

In addition to the above there is full disclosure of our terms, fees and privacy policy. The SoA also complies with numerous government requirements in terms of wording and inclusions. However, as with this website, we work hard to present everything in plain English and to make it practical, useful and easy to follow.

Note:

It is important to remember that you are in control of the entire process.

Any investments are your choice and nothing is done without your written permission.

Our role is to provide you with the full information you need to make YOUR choice.