The Statement of Advice may begin by detailing your current financial position, your needs and objectives, and your attitude to risk. You may also find your planner's reasons for giving the advice, possible risks and consequences of proceeding with the advice. It may also include an outline of why your planner believes the advice is in your best interests.
Where your Statement of Advice describes an alternative strategy, you may see why this was not ultimately recommended by your planner.
It should then detail the personalised advice developed specifically for you based on the information you provided.
Depending on your requirements and the information you have provided, your Statement of Advice may include:
- a review of your cashflow
- strategies to help you manage your debt
- a review of your super and suggestions on how to maximise it for the future
- a review of any estate planning needs
- an analysis of any personal insurance needs and recommendations about the most suitable policies for you
- a review of your share portfolio
- other investment considerations and recommendations.