The six-step advice process: For this task assume you are a financial adviser giving regulated financial advice to one of your clients in the following areas: ? investments Each step in the six-step advice process has a specific purpose, and documentation plays a key role in completing each step. Throughout the process you must comply with a range of legislation. You are required to: a. Identify each step in the six-step advice process. b. Explain the purpose of each of the steps in the six-step advice process. c. Identify one piece of documentation that you will use to complete each step and explain why the document is required. d. For each step in the process, describe one example of an activity that is relevant to the step and consistent with legislation. Across the six steps, use at least four different sections of legislation and clearly align with your choice. _______________________ Answer A & B below, wanting help for C & D

Task 2: The sixstep advice process - Investments a) Six-step advice process b) Purpose of each of the steps Six-step advice process: Purpose: 1. Establish and define the customer relationship 0 Build rapport I Issue disclosure statement 0 Agree on the scope of engagement This is so... client and adviser are clear on the nature of appointment and scope of service. Collection and gathering of data: To have accurate data and the shared understanding behind the use. 2. Gather relevant data of the client and understand clients' Needs] Goals 0 Use fact find to understand clients personal and financial situation, including supporting relevant documents This is to... understand the client's needs, priorities, and risk profile etc. Identifying the purpose or goal of investment: The Goal in the fact find supports the rational in the recommendation. 3. Analyze and assess data client's information and needs 0 Analyze client information and identify gaps. By identifying gaps within their current structure allows the adviser to formulate a viable solution, this may include delay of plan accomplishment, heavy fees, charges or taxes, legality application, or documentation. This also supports the rational in the recommendation. 4. Develop and present recommendations 0 Financial plan preparation of investment: After analyzing each above step, a plan referring to investments is to be prepared. Investment recommendations presented with a written report for the client and adviser to discuss so the comparisons and rational for the recommendation understood and agreed. 5. Implementing the financial plan recommendations 0 Upon the client reading and understanding the advice given, when deciding to proceed, the client's investment portfolio will establish. Important for the client to understand what happens once its established i.e., Log-in to view investments, assess to account. 6. On-going Review I Agreeing upon scheduled revision and reviewing of the plan and portfolio. To ensure validity of the plan to clients changing strategy needs and review their investment portfolio