L&R Advise - New and Review (LOAT)

Within the Advice Process, you can record dates against each stage. This allows you to:

• • • Track progress if the process is not yet completed.

    • Record completion dates for each stage once finalised.

The key stages are:

• • • Fact Find: Date the Fact Find was completed with the client.

    • SOA Finalised: Date the Statement of Advice (SOA) was finalised by the adviser.

    • SOA Presented: Date the SOA was presented to the client.

    • Application Submitted: Date the application was submitted to the insurer.

    • Policy Issued: Date the policy was issued by the insurer.

Each Advice Process record should capture the key people involved, including:

• Adviser: The adviser responsible for providing the advice.

• Compliance Reviewer (if applicable): The compliance team member who reviewed the file.

• Client(s): The individual(s) receiving the advice.

This section is used to capture:

• The client’s goals relevant to the advice process.

• Any important information needed by the adviser to deliver advice effectively.

Both client and adviser inputs should be recorded here to ensure the advice remains aligned, accurate, and client-focused.

Throughout the Advice Process, certain documents must be completed and ticked off. These will vary depending on the service provided.

Key documents include:

• PIA & Declaration: Personal Information Authority & Declaration Form

• Scope of Service: Scope of Service document

• Client Fact Find: Fact Find, Needs Analysis document, or CRT

• Statement of Advice: Statement of Advice or Record of Client Advice/Recommendation

• Authority to Proceed: Signed authority from the client (pre-application)

• Client Acceptance: PDF’d email from the client or signed terms confirming they are happy to proceed with the policy

• Send to Issue Summary: Final structure from the client (post-application)

• Research: Any market research and/or comparison quotes