Thinking about making the switch to general advice or working with us. We’ve answered some questions to get you started.
Yes. Because we only offer authorisation for general advice, when transferring clients into Sustainable Life Solutions, they are informed at the point of entry around the limitations of the advice you will be authorised to provide. We do not allow the import or transfer of any advice documents into the CRM system and clients who are not suitable for general advice may opt to remain with your current licensee.
We are licensed to provide both general and personal advice. However, we do not allow dual authorisation or allow authorised representatives to offer both personal and general advice under our licence.
When you join Sustainable Life Solutions, you have the option to maintain your FAR status, provided you meet and maintain the requirements. However, Sustainable Life Solutions will impose limitations for you to provide general advice only.
Every adviser that transitions across to general advice with Sustainable Life Solutions is required to be authorised as a sub authorised representative under a Corporate Authorised Representative agreement on the professionals register.
Our service offering is primarily designed to provide the support and infrastructure that are necessary to operate a compliant general advice business in Australia. We are able to price our service lower than the industry average as this offering is built on a technology platform that makes it easier and more cost effective to operate. Get in touch today if you’d like to know more about our fee structures.
As you are not required to be on the Financial Advisers Register with our model, and you are not required to maintain a professional membership, these fees are only applicable if you choose to maintain one or the other.
Yes. You are not a relevant provider as defined by ASIC or authorised to provide personal advice and therefore these professional standards are not applicable.
Insurance companies pay the same upfront and ongoing commissions with general advice as they do with personal advice.
As the business is valued by the same multiples this will not affect the sale price. There may be a significant opportunity for a holistic personal advice adviser when considering the purchase of your book.
Yes. You will need to educate the client on the pros of cons when having insurance through superannuation, and ultimately the decision is up to them.
Find out how our general advice model that integrates a CRM system, business process and compliance solution can work for you.
