After you have met with a financial adviser they will provide you with a Statement of Advice (SOA). This document will state your goals and financial situation, their recommendations, information on products, and a list of all costs.

It is your responsibility to ensure you understand what is being recommended. Importantly, it should be easy to understand why the financial adviser has made the recommendations and what the pros and cons are for any changes they recommended. You shouldn’t need a financial degree to understand a SOA. It should be clear to you how you will be better off by making the recommended changes.

If you don’t understand or agree with the advice, do not sign the document or proceed with the recommendations.

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General advice disclaimer
This is general information only and does not take into account your personal objectives, financial situation or needs. You should assess whether the information is appropriate for you having regard to your objectives, financial situation and needs and consider obtaining independent professional advice before making an investment decision. If information relates to a specific financial product you should obtain a copy of the product disclosure statement for that product and consider that statement before make a decision whether to acquire the product.

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