Record of Advice (RoA)

A simpler advice document that may be used in place of a Statement of Advice when further personal advice is provided to an existing client and the client’s relevant circumstances have not significantly changed.

A Record of Advice (RoA) is permitted under section 946B of the Corporations Act when the advice is further advice, the client has previously been given an SoA covering the same subject matter, and the client’s relevant personal circumstances and the basis of the advice have not significantly changed. The RoA is shorter than an SoA and does not need to be given to the client unless requested, but the adviser must keep a copy on file.