Title Page
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Client File Audit
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Conducted on
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Prepared by
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Does the client file contain a Record of Advice?
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If no, reason why no record of advice is available for this client?
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If yes, has the Record of Advice been signed by the client or is there proof of delivery to the client?
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Does the ROA include the following sections:
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Client need identified
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Proposal to address client needs
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Clients decision if different to the recommendation of the Advisor
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Any other information e.g. exclusions, waiting periods, penalties, tax implications, etc.
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Does the Record of Advice contain a declaration explaining to the client the possible implications of not fully disclosing to the Advisor, the information required to conduct a full analysis of the clients needs and the fact that wriggling such information will result in a limitation on the advisors ability to provide appropriate advice
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Does the Record of Advice give an adequate description of the advice process enabling the reader to grasp an accurate and complete picture of the process that was followed and the financial plan that has been out in place?
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At which point in the advice process does the Advisor complete and provide the client with a Record if Advice?
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How many client files we audited
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Name of client files sampled
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Compliance Officer
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Key Individual / Advisor
