Dover aims to make as much use as possible of modern information management tools. For this reason, we require all of our advisers to include Dover’s Client Information Policy in their Financial Services Guides and in their Statements of Advice. The policy is a simple and quick way of making sure your SOA includes all the materials mandated by ASIC, the Corporations Act and good corporate governance. Dover’s Client Information Policy is mandatory and there are no exceptions: it must be included in every SOA.
One of the benefits of doing this is to reduce the length of a statement of advice. For example, previously SOAs would include elements such as the client obligation to disclose clause with all risk insurance recommendations. This obligation is now included in Dover’s Client Information Policy.
The policy is regularly updated. This means that by including links to the policy in all disclosure statements, advisers automatically include the most up-to-date information within those documents.
The policy is most easily accessed online. Advisers are given a copy of the link upon joining the group. This is why we recommend that all advisers send their FSG and SOAs to clients via email and invite the client to send a return email to confirm their receipt. This creates a record that the client was made aware of the presence and contents of the FSG.
The Client Information Policy has been developed over a number of years. It is a robust document that makes clear many of the terms of the agreement between adviser and client. We encourage all of our advisers to check the policy from time to time, so that they know what their clients are reading and are ready and able to answer questions about it.