Wealth Axis Wizards - ROA: Scenarios - Hold ROA
Hold ROA Overview
The purpose of this RoA Hold guide is to help in the generation of a Record of Advice (RoA) in the New Advice Framework, utilising best practice principles. The guide is aimed at ensuring the document provided is compliant and produced in the most efficient means possible.
Add your Scenario
How to access the Advice Constructor Wizard
Select Client Menu > Wizards (NAF) > Advice Constructor
Name Your Scenario
Enter a Scenario Name and click on Create Scenario
Entity Advice Selector Page
Select the Entities
Select the entity/entities the advice relates to.
Click Next
Entity Advice Selector Page
Type of Advice Documents
Select RoA stand-alone from the Advice Document Selector
Click Next
Introduction ROA
RoA Setup
Select the appropriate options to create your Hold RoA.
Click Next
Scope of Advice (ROA)
Verbal Advice
Make the appropriate notation if verbal advice was provided to the client.
And the subsequent notation if the client requested a written copy of the RoA, if applicable.
Important: The Record of Advice (ROA) Licensee Standard and the ROA Guide provides guidance to advisers as to when an ROA can be used to document further advice to existing clients and what must be included in an ROA. This also includes when a verbal ROA and written ROA is to be used and what in timeframes these documents need to be executed and/or provided.
Scope of RoA
Type in the scope of your Hold RoA, ensuring it is client specific.
Changes to Client Circumstances
Make the appropriate notation if all information has been provided by the client.
Click Next
Strategies Recommendations Page
Add the Hold Strategies
Within the Strategy Selection, Click Add
And setup the Review your situation – Hold strategy for the appropriate client / partner
Review the prepopulated text in the Description, Reasons and Risks and Consequences tabs, and tailor to your client’s circumstances.
After amending the text in all 3 tabs, select Save
Click Next
Additional Information Page
Understanding Series and PDS
Note how the Understanding Series, Fund Profiles and PDS’s are to be provided to the client (if required).
Click Next
Fees, Cost and Disclosures
Add any RoA Fees and Costs
Within the ROA Fees and Costs, Click Add
Add in the details on any Ongoing or Initial Adviser Service Fees, which are to be
disclosed in the RoA, before clicking Save
Additional Disclosures
Select any additional disclosures that need to be included into the RoA.
Click Next
Merge ROA
Merge from XPLAN
Merge out your RoA by selecting the Advice Document.
Once the RoA has been generated, it will appear in the XPLAN notification envelope.
Post Merge Editing of ROA
Word Edits
Make the required post merge edits to the RoA document, by updating the FSG / PDS Information
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