Statement of Advice

Client Portal

eSOA and eReview

 

The FPA will be launching an initiative at the FPA Congress 2019 to explore ways to digitally deliver a Statement of Advice in a format which makes it easier for the client to understand.  This format should follow the example given in RG90, which is an example of Scaled Advice for a new client regarding Insurance only.

 

Financial Mappers has designed the Client Review App to allow the digital delivery of a Statement of Advice (eSOA) or a Client Review Report (eReview) to both the adviser and the client.

 

 

FPA Congress 2019

Financial Mappers is a partner at the FPA Congress 2019 in Melbourne.  Here we will be demonstrating our new digital interactive Statement of Advice (eSOA).  This has been designed so the same model can be used for annual reviews and will be called the eReview.

Watch this demonstration of the Client Review App, using a Statement of Advice

 FULL Service Version.

 

Watch this demonstration of the Client Review App, using a Statement of Advice

SCALED Advice for Insurance (RG90) Version.

 

 

We would love to hear your thoughts about this….

Please let us know in the comments section below….

 

 

5 Comments

  1. John 3 months ago

    I like the idea of keeping the information much shorter. The educational content from MoneySmart ready to use will be very helpful.

  2. Kate 3 months ago

    This is so much easier to understand. I wish my advisor would use this. I love how easy it is to view results at various points on the timeline.

  3. Liam Cooper 2 months ago

    Great!
    Far more succinct and meaningful to the client. This is what advisers like myself have been requesting for the last 15 years.

  4. R 2 months ago

    Nice, but the report seems to be missing product details and product comparison/performance specific data in the modelling and recommendations.

    It appears to be based on generic asset class allocations, but when you get to the authority page it states “give you a Product Disclosure Statement (PDS) for each financial product that I have recommended” — yet the plan does not appear to actually include details of the any specific recommended products that the client will actually be investing in.

    • Thanks for your great comment. If the adviser has digital tools for comparison of products, these can be used, and the results imported as a table or an image into one of the SOA Editor Panels. If the tool for comparison of financial products can generate a PDF, then this PDF can be added as an attached document and uploaded to the TAB, Documents. Here the client can download the documents.

      Just one question for advisers – would it be helpful if Financial Mappers created a product comparison table, like our Comparison of Loans table? The table has 4-loans of different amounts, deposits, interest rates, loan types, lengths of loan and loan costs which
      are compared in terms of cash flows and total outlay costs.

      Glenis Phillips – Designer of Financial Mappers.

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