Fit for Purpose Advice
At this stage we see Fit-for-Purpose advice as financial advice that is tailored to your individual needs and circumstances. It takes into account your financial goals, risk tolerance, and time horizon. Fit-for-purpose advice is not generic or one-size-fits-all. It is specific to you and your situation.
There are a number of benefits to receiving fit-for-purpose financial advice. First, it can help you to make better financial decisions. When you have access to tailored advice, you are more likely to choose the right financial products and strategies for your needs. Second, fit-for-purpose advice can help you to save money. By avoiding costly mistakes and making the most of tax breaks and other government incentives, you can put more money in your pocket. Third, fit-for-purpose advice can help you to achieve your financial goals faster. By taking the right steps now, you can reach your financial goals sooner and enjoy the benefits of financial security sooner.
If you are looking for fit-for-purpose financial advice, there are a few things you can do to find a qualified financial adviser to help you achieve your goal. First, ask for referrals from friends, family, or colleagues. Second, check with your state or territory's financial services regulator to see if the adviser is licensed. Third, interview several advisers before making a decision. Be sure to ask about their qualifications, experience, and fees.
Here are some tips for getting fit-for-purpose financial advice:
Example of Fit for Purpose Advice Document Contents
This is just a guide and you may need to add or remove sections depending on the purpose of the advice.
Here are some additional tips for working with an adviser to help create your fit-for-purpose financial planning document:
We will be working with all industry parties to create relevant documents and templates to help navigate the new Fit for Purpose definition of advice
Looking for customised templates?
Contact Us to discuss your SoA template needs.