You have been asked to write a 4-page article (max 2,000 words) in an Australian monthly magazine. The article explains in your own words to readers key considerations when looking for obtaining a Financial Product Advice.
The article needs to address and cover the following:
Explaining what a Financial Product Advice is, and how it differs from Providing factual information, giving clear real-‐life examples of each.
Explaining the different types of Financial product advice with real life examples of each of the different types.
The different advice and disclosure documents required to be provided when providing financial product advice, clearly stating when and to whom they should be provided and why.
The specific role of Australian Securities and Investments Commission (ASIC), Australian Financial Complaints Authority (AFCA) and Financial Adviser Standards and Ethics Authority (FASEA) in the financial advice space
Your article needs to also address the FOFA reforms Best Interest Duty and conflicted remuneration legislations and their impact on the quality of advice and consumer protection.
Finally, comment on your views of the recent Royal Commission in terms of their impact on the financial advice industry. Provide examples to support your argument.
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