Kosten für fehlerhafte Geeignetheitserklärungen und Beratungsdokumentation

Definition

ASIC’s financial advice updates emphasise licensees’ obligations to ensure advice files demonstrate compliance with best‑interest and related obligations, including adequate investigation of the client’s circumstances and appropriate product selection.[1] ASIC’s review work often involves sampling advice files (e.g., for SMSF establishment or large super rollovers) to assess whether the advice was in the client’s best interests, which is heavily dependent on the quality of the suitability assessment and risk profile.[1] Where files are deficient, AFS licensees typically must conduct re‑advice, compensate affected clients, or run remediation programs, all at their own cost. Industry practice indicates that full file remediation—including adviser time, compliance review, and potential compensation—commonly costs on the order of AUD 500–2,000 per client file as a logic‑based estimate, and more for complex cases such as SMSFs or large‑balance superannuation. For licensees with thousands of historical files, this results in multi‑hundred‑thousand to multi‑million dollar total remediation costs driven largely by poor suitability and risk‑profiling processes.

Why This Matters

The Pitch: Investment advisers in Australia 🇦🇺 can lose AUD 500–2,000 per client file in rework, complaints handling and remediation when suitability assessments are incomplete. Digitising fact‑finds, risk profiling and automated file‑quality checks reduces this recurring cost of poor quality.

Affected Stakeholders

Financial advisers and paraplanners, Compliance review teams, AFS licensee responsible managers, Client remediation project teams

Related Business Risks