Australian Financial Services Licensing (AFSL) Forum

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#5753 Reply

licencefx
Member

When writing an SOA strictly on super consolidation only – no insurance advice. Do I need to include what insurance the current funds have in the SOA? I would add which funds hold insurance via a simple yes or no in a table outlining their current funds and balances etc so the client knows which funds they need to investigate or look into themselves.

My licencee is saying I need to include the amount of cover, premiums etc as part of the super only SOA, however my argument is if its super only, insurance information is not relevant and if it is added, does it some what imply that insurance advice is being given/considered? thoughts?

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