RoA Ready Reckoner

Can You Use An RoA?

Use Integrity Compliance’s free RoA Ready Reckoner to help you determine if an RoA can be used to provide advice to your clients.

Simply answer each of the questions below and find out if an RoA is the right choice for your client. If you are unsure, please check with the compliance team for your AFSL.

 

    Are you providing advice on -
    Review
    Please confirm that you are reviewing your client's existing investment, superannuation or insurance portfolio?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Have you previously provided the client with an SoA (under the same licence)?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Has the client's personal circumstances (ie., objectives, financial situation and needs) significantly changed since the previous SoA?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Are you significantly changing the basis of your previous advice? eg., changes to existing strategies or recommending new asset classes, sectors or financial products
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Outcome
    Great news, it seems you can use an RoA.
    Further Advice
    Please confirm that you are providing further advice to an existing client?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Have you previously provided the client with an SoA (under the same licence)?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Has the client's personal circumstances (ie., objectives, financial situation and needs) significantly changed since the previous SoA?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Are you significantly changing the basis of your previous advice? eg., changes to existing strategies or recommending new asset classes, sectors or financial products
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Outcome
    Great news, it seems you can use an RoA.
    Small Investment
    Please confirm that you are providing advice to a client in relation to a small investment (under $15,000)?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Does the advice relate to;

    - Derivatives

    - New superannuation or retirement saving accounts (ie.,superannuation and RSAs that the client does not already hold, or

    - Life risk policy (except to the extent that advice about a super product relates to a life insurance policy)?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Outcome
    Great news, it seems you can use an RoA.
    No 'Financial Product Advice'
    Please confirm that you are providing advice that does not recommend the acquisition or disposal of any specific financial product or modification to an investment strategy or contribution level?
    Outcome
    Please restart this RoA test by selecting another option in the first question

    We are unable to determine what advice you are providing based on the responses entered.

    Outcome
    Please use a ‘Documentation of disclosure’

    (eg. proceed with a letter to the client confirming details of the advice, product, fees, referral payments or other benefits (if any), and associations))

    Basic Deposit and other Products
    Are you providing advice regarding;

    - a facility for making non cash payments,

    - a cash management account,

    - a term deposit for less that 2 years,

    - A capital guaranteed first home saver account?
    Outcome
    You can NOT use an RoA, please produce a Statement of Advice
    Outcome
    Great news, it seems you can use an RoA.