The Documents Part 10 – SoA (Safe Harbour Port 6)

Safe Harbour Step 6 – All judgements made by the adviser are based on the client’s relevant circumstances 

To rely on the safe harbour test, you must base all judgements you make in advising the client on the client’s relevant circumstances. This includes the judgements that you as the adviser make about:

1. the scope of the advice;
2. the extent of the inquiries you make into the client’s relevant circumstances;
3. the strategies, and types of financial product and specific financial products you investigate;
4. the strategies, types of financial product and specific financial products you recommend; and
5. how the client should acquire financial products, where relevant for example, whether the client should acquire products directly or through a platform.

To satisfy step 6 of the safe harbour test, a reasonable adviser would have to believe that the client is likely to be in a better position if the client follows the advice.

Other articles in this series:

• The Documents Part 1 – Introduction
• The Documents Part 2 – Financial Services Guide (FSG)
• The Documents Part 3 – Needs Analysis (Introduction)
• The Documents Part 4 – Needs Analysis (Safe Harbour Port 1)
• The Documents Part 5 – Needs Analysis (Safe Harbour Port 2)
• The Documents Part 6 – Needs Analysis (Safe Harbour Port 3)
• The Documents Part 7 – Needs Analysis (Conclusion)
• The Documents Part 8 – Statement of Advice (SoA)
• The Documents Part 9 – SoA (Safe Harbour Port 5)

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