AFS Licensing & FSR

AFS Licensing & FSR

Best Interests, Advice & All That

This course outlines the essentials of financial product advice and how to apply it in practice.
 

Currently, this course is not a public seminar course.  Rather, it aims to provide staff of an organisation with a relevant and practical course tailored to the organisation's specific circumstances.


Benefits of the course

  • Learn to provide advice that avoids the pitfalls we’ve seen first hand as lawyers acting for AFS licensees, involved in enforceable undertakings, conducting licensee reviews and reading thousands of SOAs!
  • Training conducted by legal practitioners who provide legal and compliance services to a wide range of AFS licence holders and who are also experienced trainers;
  • Participants will receive a detailed manual with specially designed diagrams and activities to illustrate concepts and issues;
  • Consideration of the impact of FOFA on advisory businesses;
  • Share your experiences and challenges with other industry participants;
  • Suggested CPD allocation – 7 points; and
  • Better advice to clients, compliant licensees and advisers, reduce the risk of complaints or regulatory action.

 

Course content

  • What is financial product advice?
  • What is the difference between personal advice, general advice and “no advice”?
  • Reasonable basis for the advice or is that best interests?
  • How to document advice – SoAs and RoAs
  • Who, when and how to provide advice documents
  • FOFA and advice
  • Complaints handling and what the courts and FOS have to say
  • ASIC enforcement and regulatory action

 

Who should do this course?

  • Financial advisers;
  • Compliance staff;
  • Advice analysts;
  • AFSL Responsible Managers;
  • Para-planners;
  • Counter staff; and
  • Telephone sales of financial products;

 

What have people said about our Advice Fundamentals training course?

  • "Excellent engagement of presenters"
  • "I appreciate the ease of delivery of what could have been a detailed topic" (Glen – BT Financial Group) 
  • "Well-tailored program" (Tony Browne – BT Financial Group) 
  • "Great examples of real-life implications of law on advice processes" (Andrew – BT Financial Group)
  • "I enjoyed how interactive the course was, particularly the case studies and examples" (Phil Butterworth – BT Financial Group) 
  • "I loved all of it.  Brilliant!  Thank you – Well done Sam & Paul" (Dale Rumbelow – BT Financial Group)
  • "I particularly liked the mix of technical legal insight with real-life cases" (Adam BT Financial Group) 
  • "Topics covered were relevant to our advice channels" (Mario Modica BT Financial Group)
  • "Linking the current issues our industry faces directly back to the legislation.  This programme will help me position compliance a lot more easily with my practices." (Jacob Kettler – BT Financial Group) 
  • "Grant made a difficult topic easy to understand.  100% this programme will assist in my work." (Gus – BT Financial Group) 
  • "Great structure/working case studies and comprehensive book.  This programme most certainly will assist me in my work." (Luke Carrington – BT Financial Group)
  • "Thorough explanation supported by practical examples, workbook structure also good." (Simon Dutton – BT Financial Group) 
  • "Highly knowledgeable presenters; reliable information; relevant and interesting.  Have had lots of compliance training over the years and never as clear and informative as this.  Also, great materials." (H. Breier CBUS)
  • "Interaction/real examples/role play." (Russell Dunn CBUS)
  • "Gave a practical demonstration of where things can go wrong and how to prevent that from happening." (Robert Moucha CBUS)
  • "I think the best thing was that they took the fear out of giving advice and the upcoming FOFA with purpose.  It was good to get the 'if you do this, then you don't need to worry about that' information.  The role plays were very funny and very helpful. The guys were a great team." (Annette Sheen Judd Financial Service)
  • "Clarification on specific requirements of SOA and ROA requirements." (Tenielle Hedley) 
  • "I particularly liked the clarification on specific requirements of SOA and ROA requirements."
  • "The content was very thorough." 
  • "The interaction and delivery.  Excellent thank you for sharing so much information."