primrose.foster's avatar
primrose.foster
Icon for Advisely Team rankAdvisely Team
3 years ago

Streamlining the production of SOAs

I really enjoyed reading this piece on "Is the SOA worth the piece of paper it is written on" - and would love to know what tools & tactics other advisers use to help streamline the production of SOA...
advice production
Tangelo's avatar
Tangelo
Icon for Advisely Partner rankAdvisely Partner
2 years ago

To further add to jessica.lamb  avoiding duplication is not only key to streamlining the SOA but also a means to mitigate compliance issues.  All too often we see information being replicated (e.g. disclosure of fees),  this not only adds unnecessary length to the document, but there's also a risk (especially if manually included) that information is inconsistent. 

Businesses should also be mindlful of stripping out any "educational content" from the SOA and providing these as information sheets/flyers.  Sometimes less is more so it's important to distinguish between what "must" be in the SOA vs what is "nice to have".

Welcome to the Advisely forums!

This is where financial advice professionals from all walks of life come together to share knowledge, swap ideas, solve problems, and talk all things growth and efficiency.

Here are some tips when posting in the forums:

  • Be respectful and courteous to fellow members
  • If a reply helped you, mark it as a solution so other users can find it easily
  • Take a moment to read through our Community Guidelines
  • For Xplan support issues, it's best to raise a ticket in Iress Connect first. You can also search the discussions for posts about the same issue first before starting a new thread.
  • Keep an eye out for our 'Ask me anything (AMA)' threads – these are live text-based Q&As with industry and Xplan experts during a set period of time. Find out when the next one is happening here.
  • Don’t be shy! You don’t need to be an expert to help someone out. Many users are looking for practical advice, shared experiences, or just a fresh perspective
  • Introduce yourself and meet other members here!

We’re glad you’re here – see you around! 😁

Recent Discussions

Related Content