Christopher and Simone attended a 'financial well-being' seminar offered by Ladkins Financial around six months ago. Some of the tips they took away from the seminar were related to reviewing their existing mobile phone plans and electricity providers for some possible savings, as well as reconsidering their personal relationship with 'money' and 'finances'. A few months after the seminar, they decided it was time to put a more comprehensive financial plan in place for their future. They met with Chad from Ladkins a few times, and he then provided them an advice document. Part of the advice included alternative superannuation funds for both Christopher and Simone that incorporated a 'wrap account' structure and would also commence a salary sacrifice arrangement for both of them. The advice also included a recommendation for investment into some Australian direct shares in Christopher's personal name with some cash reserves he had built up in a savings account. Christopher and Simone were very impressed with Chad and Ladkins and have given their authority to implement all of the recommendations outlined in the advice document. Notes:

Where applicable, your response should relate to the case study details provided and for parts where you utilise other resources to support your answer, ensure you cite and reference these.

(a) Consider the advice process Christopher and Simone have experienced above. Assuming Chad has operated in compliance with all relevant laws and regulations, outline three (3) compliance documents Christopher and Simone have received, at which point in the process they would have received them, and the purpose of each document

(b) Give examples from the case study of Christopher and Simone receiving both general and personal advice and explain the difference between these.

(c) A week after agreeing to the recommendations, Christopher phoned Chad and said he no longer wanted to proceed with the purchases of the direct shares. Chad informed Christopher that these trades had already been placed following their agreement to the advice the week prior. Explain any timeframes Christopher should have been aware of in relation to the superannuation and direct share advice.

(d) Chad's colleague Steven has remarked that he tends to prefer working with wholesale clients. Discuss three (3) differences between the client relationship Chad has with Christopher and Simone in comparison to Steven's wholesale client base.

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