Implementation

Question 1

This step involves completing and documenting administrative processes, such as opening accounts, lodging application forms, arranging insurances, and purchasing investments.

Answer 1

Implementation

Question 2

A record of all businesses lodged including transaction dates, client name, investment amount, product details, fees charged and remuneration received.

Answer 2

Lodgement register

Question 3

Typically used with more complex financial planning work. This is where we may be quoting for a free for service job of 3,000 or more. It establishes clear and appropriate expectations for the client and financial planner, covers the scope of engagements and the respective fees.

Answer 3

Terms of engagement (TOE)

Question 4

The process involves submitting and following up an application in order to initiate the client’s recommended products. This occurs whenever a new SoA is accepted and whenever a client wants to make changes to a superannuation, pension, investment account or insurance policy

Answer 4

Lodgement

Question 5

The final step after implementation is complete

Answer 5

Send the completion letter/survey to the client either in mail or via email depending on the clients preferred method of correspondence