QAR: does the first tranche cut it?

One notable omission from Treasury's draft QAR legislation is optional SOAs, which were originally going to be part of the first "stream" of reforms when the Government first responded to the review ...

policy

jessica.lamb

Advisely Partner

2 years ago

It just doesn't cut it! That is my personal opinion.

After speaking with Advice Groups over the past year, whenever QAR was mentioned it was always 'can't wait to see changes to the SOA requirements' and 'what can we do once SOA is a thing of the past'. This was a clear and exciting prospect for Advisers. An opportunity to create documentation for the purpose of the client and not a legislative requirement built by licensees and compliance officers.

I am still hopeful for what the future will bring in the SOA space, but to see it missing in the first trance is disappointing.