Complexity Cartels

David Sless’s Soap Box

A Statement of Advice (SoA) is the legal name for a document a licensed financial adviser must give you when they offer you advice.
Note: We have just published our current SoA Performance Requirements for the benefit of our Members

Never ever trust Statements of Advice in their current incarnation. If you live in Australia, reports from the hearings by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry will have revealed some—but not all—of the reasons why today’s SOA can’t be trusted.

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