Question 1

Part 7.7 of the Corporations Act and Regulatory Guideline 175 set out the various disclosure documents that are required to be provided by a planner prior to the purchase of a financial product by a retail client. Explain each of the documents in detail.

Question 2

Explain the financial planners legal obligations relating to disclosure and conduct which are detailed within Part 7.7 of the Corporations Act.

Question 3

Under what circumstances is a Statement of Advice not required?

Question 4

What is the difference between a record of advice and scaled advice?

Question 5

Explain the six steps in the financial planning process.