Initial Advice

There are strict legal requirements that govern how financial advice is provided in Australia and what the advice must include.  


Unless you qualify as a “wholesale” (very knowledgeable) investor, our initial advice is always written in a  document called a Statement of Advice (SOA).  


In simple terms the SOA will:

  • Outline your current financial position.
  • Set out your reasons for seeking advice.
  • Outline our recommendations which we feel will best meet your needs and objectives.
  • State any limitations to the advice provided.
  • Clearly state the fees and charges associated with the advice.
  • Indicate how to proceed with the recommendations.

It is an essential feature of all financial advice provided by HPW that we believe the advice is in your best interests.  That is both a legal requirement and a cornerstone of how we go about advising our clients.


When you have had time to consider our recommendations we usually meet again to answer any questions you have and to discuss any changes you wish to make.  


Once we have finalised our recommendations we ask that you sign documents that confirm you are happy with our advice and wish to become a client of HPW.  We then proceed to do everything necessary to implement the advice.


The function of economic forecasting is to make astrology look respectable.

- John Kenneth Galbraith



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Heritage Private Wealth Pty Ltd | ACN 600 874 673 | AFSL No. 468749