Download Business Review Questionnaire Guide

FOR ADVISER USE ONLY – NOT FOR PUBLIC DISTRIBUTION
Business Review Questionnaire Guide
Purpose
The purpose of this guide is to provide you with guidance on completing the Business
Review Questionnaire in preparation for your next business review. If you require
further assistance please contact your local Business Review Manager.
In addition to this guide there is also a Technical Guide which provides you with the
procedural steps for completing the online questionnaire.
Legend
A
C
R
S
Adviser Questionnaire
Corporate Questionnaire
Adviser Risk Questionnaire
(incorporating NAB FP Business Protection Specialists )
Support Questionnaire
Section 1 – Client Base
CORRESPONDING
QUESTION NUMBERS
Explanations
Profile of client base:
Q.1 – A
Q.1 – C
Q.1 – R
The purpose is to gain an understanding of the type/number of
clients being serviced by the adviser. Please provide an
approximate break-up between the types of clients and advice
being provided in percentages in the relevant boxes.
Sourcing new clients:
Q.2 – A
Q.2 – C
Q.2 – R
The purpose of this question is to determine where new business is
sourced. Please complete each section by clicking yes or no.
Referrals to other businesses:
Q.2.1,2.2, 2.3 – A
Q.2.1,2.2, 2.3 – C
Q.2.1,2.2, 2.3 – R
At times you may have to refer a client on to another professional
service (eg Estate Planning, Accountant) Please include any
referrals you have in place, if you pay for referrals and if you get
paid for referrals.
Formal referral agreement:
Q.2.4 – A
Q.2.4 – C
Q.2.4 – R
If you have a formal agreement in place with any referral source.
Please complete the relevant box with a ‘yes’.
Business Review Questionnaire Guide
30 March 2009
Page 1 of 5
FOR ADVISER USE ONLY – NOT FOR PUBLIC DISTRIBUTION
Client Authorities:
Q.3 – A
Q.3 – C
Q.3 – R
An adviser may accept an authority from a client which authorises a
product provider, margin lending facility, stockbroker or investment
facility manager (master fund; wrap account; portfolio management
service or superannuation fund) to act on investment instructions
given by the adviser on behalf of the client, please list any Client
Authorities you may have if any.
Section 2 – People and Process
CORRESPONDING
QUESTION NUMBERS
Explanations
Assistance in the business, including role in the advice giving
process:
Q.1 – A
Q.1 – C
Q.1 – R
Q.1, 2, 3 – S
Please list everyone involved in the various aspects of the financial
planning process that may assist you including staff, colleagues and
support staff and if they hold a Letter of Authority. Enter the details
in the relevant boxes and click yes or no for the LoA holder
question.
Privacy Obligations and Confidentiality:
Q.2, 3 – A
Q.2, 3 – C
Q.2, 3 – R
Q.2 – S
Please tick the relevant box to indicate how your client documents
are being stored if more than one are applicable click on the
relevant boxes.
Electronic Data
Q.4 – A
Q.4 – C
Q.4 – R
If any client information is being stored electronically and not in the
hardcopy file or is being stored on a separate computer system
please click on the relevant box/es and include the name/s of the
system this is being stored on.
Advice Software:
Q.5, 5.1 – A
Q.5, 5.1 – C
Q.5, 5.1 – R
Q.6 – A
Q.6 – C
Q.6 – R
Please click the appropriate tick box/es as to which advice software
you may use to produce any written advice and financial modelling.
More than one box may be ticked.
Branding:
Business Branding – Do you use your own branding or do you use
the licensee branding. (eg Business Cards, signs, letterheads, etc)
Only one option is available please choose the appropriate box.
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30 March 2009
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FOR ADVISER USE ONLY – NOT FOR PUBLIC DISTRIBUTION
Q.7 – A
Q.7 – C
Q.7 – R
Documentation of FSG & PNS:
How and where do you record the date and version number FSG
(Financial Services Guide) you have given to each client. Only one
option can be chosen here.
Mailing address:
Q.8 – A
Q.8 – C
Q.8 – R
Do you receive any original statements (not including advisers
copy) from any fund managers/insurance company to your mailing
address please click the relevant box.
Cash Handling:
Q.9 – A
Q.9 – C
Q.9 – R
If you accept cash from clients for products and or services please
tick yes.
Electronic Lodgement of Applications:
Q.10 – A
Q.10 – C
Q.10 – R
If you lodge any applications electronically please tick yes.
Related business interests:
Q.11, 11.1 – A
Q.11 – C
Q.11, 11.1 – R
Q.4 – S
If you have any interest or run any other related businesses please
click yes next to the relevant box/es that may apply.
Complaints received:
Q.12, 12.1 – A
Q.12, 12.1 – C
Q.12, 12.1 – R
If you have received a complaint in the last 12 months since your
last review please ensure you answer yes to this question and the
second part of the question is to see if you are familiar with the
complaint procedure.
Licensee Standards:
Q.13 – A
Q.13 – C
Q.13 – R
Q.5 – S
If you check adviser point for licensee updates on an ongoing basis
please answer yes to this question.
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FOR ADVISER USE ONLY – NOT FOR PUBLIC DISTRIBUTION
Section 3 – Your Advice
CORRESPONDING
QUESTION NUMBERS
Explanations
Advice/Services provided:
Q.1 – A
Q.1 – C
Q.1 – R
Please provide a break-up in percentage terms on the type of
advice that is given to clients.
Providing an SoA prior to implementation:
Q.2, 2.1 – A
Q.2, 2.1 – C
Q.2, 2.1 – R
Please list the number of advice documents for each field that has
been completed in the last 12 months since your last review.
Replacement of Product Procedure:
Q.3 – A
Q.3 – R
Q.3 – C
Please list the procedure you follow when recommending a client
replaces an existing product and any tools that might be relevant.
Strategies & Advice provided:
Q.4 – A
Q.4 – C
If you have given advice on the any of the following strategies you
must list them in the corresponding boxes on which strategies you
have given advice on in the last 12 months since your last review.
Self Managed Super & Gearing within SMSF:
Q.4.1 – A
Q.4.1 – C
Advisers often provide advice on the underlying assets of a self
managed super fund. If you have given any advice in this section
please ensure the “yes” box is clicked.
Gearing:
Q.4.2 – A
Q.4.2 – C
Advisers often provide advice on gearing (margin Lending or Line of
Credit) Both Super and ordinary moneys should be included. If you
have given any advice in this section please ensure the “yes” box is
clicked.
Listed Securities:
Q.4.3 – A
Q.4.3 – C
If you have given any advice in this section please ensure the “yes”
box is clicked.
Corporate Super:
Q.4.4 - A
Q.4.4 - C
If you have given any advice in this section please ensure the “yes”
box is clicked.
Direct Property:
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FOR ADVISER USE ONLY – NOT FOR PUBLIC DISTRIBUTION
Q.4.5 – A
Q.4.5 – C
If you have given any advice in this section please ensure the “yes”
box is clicked.
Wholesale Investor:
Q.4.6 – A
Q.4.6 – C
If you have any clients that are treated as a Wholesale Client
(Please see Licensee Standard – Wholesale Clients to see
definitions of Sophisticated and Professional Investor) Please
ensure the “yes” box is clicked
Client with Special Circumstances:
Q.5 – A
Q.5 – C
Q.9 – R
If you have any clients with special circumstances (‘Special
Circumstances’ include things such non-English speaking/poor
comprehension of writing/verbal communications, blindness,
deafness or other illness/injuries which may require additional
resources or methods of client communication. Please ensure the
“yes” box is clicked
Fee for service & Volume Bonus:
Q.6, 7 – A
Q.6, 7 – C
Q.6, 7 – R
If clients are charged a ‘fee for service’ (as defined in the fee for
service Licensee Standard) then please ensure the “yes” boxed is
ticked.
If you are receiving a volume bonus from a particular platform
manager for a certain level of business lodgement you will need to
ensure that yes is clicked.
Risk profiling process:
Q.8 – A
Q.8 – C
Please ensure the appropriate tick boxes are completed to
represent which method you use to asses a client’s tolerance to
risk, more than 1 option may be chosen.
Review Service
Q.9 – A
Q.9 – C
Q.8 – R
Please list your current process for a client review and please
include any documents you may provide to your clients or make
available.
Non approved products:
Q.10, 11, 11.1 – A
Q.10. 11, 11.1 – C
Q.4, 5, 5.1 – R
If you have recommended a product/platform that is not on the
Licensee approved product list please ensure the yes box is
marked.
Sell Recommendations issued by the Licensee:
Q.12 – A
Q.12 – C
Please detail what actions you have taken in relation to sell
recommendations issued by the licensee in the appropriate box.
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