In the dynamic landscape of Australia's financial advisory sector, Michelle Levy's call to replace Statements of Advice (SOAs) with "Fit-For-Purpose" documentation marks a significant turning point. Advisors are proactively responding to this shift, aiming to streamline documents while preserving the integrity of their analysis. Striking a balance between efficiency and transparency highlights the indispensable role of paraplanners in navigating regulatory changes and ensuring clients receive clear and trustworthy advice.
