Guidance Note: Adviser Business Statement

This guidance note provides important information to assist advisers and support staff to prepare a legally compliant Adviser Business Statement (ABS). This guidance note is based on information provided by the Financial Markets Authority published AFA ABS Guide (released in June 2011) and includes relevant information that forms part of the Standard Conditions for Authorised Financial Advisers. 

This guidance note should be read in conjunction with the generic ABS template issued by Strategi Limited. There is no prescribed length for the ABS. However, the Financial Markets Authority (the regulator) is keen to see it in the vicinity of 7-15 pages, but this will depend on how detailed an adviser wishes to be in describing processes within the ABS.

Strategi recommends the ABS be of a reasonably high level and refers to the business operations manual for more detailed processes. This will help to reduce the number of changes that are made to the ABS. It is important that an adviser have an Operations Manual that is also regularly updated and contains all the detail that the ABS refers to.

Download the full Guidance Note below to read more.