Process and paperwork checklist – whole advice process

Step-by-step advice process:

1. Pre meeting preparation:
   • Ensure you have a login to A.S.A.P. (click here to login / reset your password)
   • Set up the client record on A.S.A.P. (names, DoBs, address, etc)
   • When you are ready, you can issue the client with A.S.A.P. welcome email (including their FSG) ahead of the meeting. Alternatively you can do this later.
   • Familiarise yourself with how to use the online scoping tool. See ‘how it works guide’ pages 6 – 8
2. Client meeting – example agenda:
   • Set out the main options the client has available to make the most of their SMSF’s tax status for this year and next
   • Explain the tax and compliance treatment of each main options (including contributions, withdrawals, pensions etc)
   • Explain that you aren’t licensed to give opinions or recommendations on what financial product decisions the client should implement, and that, post 1 July 2016 your firm insist on having an SoA on file before helping to implement financial product transactions. See Example client conversation and Tips to explain A.S.A.P. to your client 
   • Log in to A.S.A.P. and commence an advice order.  Use the online ‘drag and drop’ scoping tool (client will be asked to eSign a copy) to document the client’s decisions on who will take responsibility for each decision
   • • (If the client is not confident in making decisions based on tax and comliance advice alone then you may need to refer them to a more traditional financial planner.  See page 3 and 4 of our Guide 2 – Safely referring clients to a digital adviser)
   • Complete the ‘Referral note from accountant’ page within A.S.A.P. – capturing estimates of the costs of establishing and/or running the SMSF
   • Download the client questionnaire ‘fact find’ (2-3 pages) and give it to the client to complete
3. Client completes the fact find and returns to the accountant or sends to asap-platform@app-mail.asap-advice.com.au
4. Accountant uploads the fact find into A.S.A.P.
5. Accountant selects a payment option (credit card or invoice)
6. A.S.A.P. compiles the advice, contacting any rollover funds for details as required
7. A.S.A.P. issues the Statement of Advice to client and accountant as a PDF
8. Client eSigns the Statement of Advice – Authority to Proceed page
9. Accountant can then assist the client to implement transactions. (Refer to Guide 2 for more details)

Paperwork

A list of the paperwork to help the client obtain a Statement of Advice from A.S.A.P.:

• Client ID. Ideally scan each spouse’s driver license.  Upload this into A.S.A.P. along with the required cover sheet.
• Rollovers?  If the client is considering a rollover from an existing super fund into an SMSF.
  • Letter of authority. Have the client sign the template that can be downloaded from the client’s record in the A.S.A.P. system
  • Recent fund statements (if available). These can be uploaded into the A.S.A.P. system too for our advisers to refer to
• Scope of advice This document is automatically produced after using A.S.A.P.’s online ‘drag and drop’ scoping tool, and is e-signed by the client
• Client questionnaire ‘fact find’. Once the client has used the online scoping tool, the appropriate ‘fact find’ questionnaire (2-3 pages) is available as an Excel file for them to complete.  Once complete, upload / email this back to A.S.A.P. at which point the advice will be generated within a day or two of receiving complete information
• Invoice. An invoice will be generated within the A.S.A.P. system for payment by credit card or using Poli (the Australia Post bank transfer tool)
• Statement of Advice. This is emailed in PDF form to the client and accountant and a copy is available on the platform.  The client is asked to eSign a copy of the ‘Authority to Proceed’ page.

The paperwork that will be sent directly by A.S.A.P. to the client is:

• Welcome email.  Sent when initiated by the accountant.  Introduces A.S.A.P. and attaches our Financial Services Guide.  No client response needed.
• Fee and Scope Agreement.   This confirms the clients decisions about who they would like to take responsibility for each decision (after using our drag-and-drop tool).  Each client (including both spouses if we are advising a couple) will be sent and email asking them to e-Sign this document.
• Client questionnaire.  Once processed, a PDF copy of the completed client questionnaire is sent to the client to eSign
• Statement of Advice.  When our advice is ready, a copy will be emailed to the client.  They will be asked to e-sign the Authority to Proceed page – which confirms that they have read and understood the advice and are happy to proceed
• Reminders.  For anything not signed, a reminder email will be issued
• Invoice reminders (where relevant).  Should you elect to pay A.S.A.P.’s fee via invoice, then a reminder may be sent if this is not paid within 14 days

Note:  the Letter of Authority, which is only required where there are roll-overs from an existing fund, does not get sent to the client by A.S.A.P.  This form needs to be downloaded by the accountant (from the client record) for the client to physically sign.  A scanned copy then needs to be imported into A.S.A.P.