A Statement of Advice (SoA) is the legal name for a document a licensed financial adviser must give you when they offer you advice.

Never ever trust Statements of Advice in their current incarnation. If you live in Australia, reports from the hearings by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry will have revealed some—but not all—of the reasons why today’s SOA can’t be trusted.

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David Sless on SoA