Let's reboot how consumers see advice

This article is of the same ilk at the advice to the Government from the FSC re Life risk insurances and advisers commission.
There is no chance of electronic SOA's as long as the penalties for non compliant advice keep rising. The central position the adviser has requires everything now to be on paper not some sort of marketing report that has a feel good visual story. When the client gets upset the feel good story will be used against the adviser by both the regulator ASIC and the Complaints scheme.
This is one of those ideas dreamed up by people who think they know the industry and do not, who believe that you can churn out lots of feel good SOA's that replace the paper versions that have substance and meet the requirements of having to be seen in writing to be acting in the clients best interests.

The client will not pay for advice when they have to fill in the forms. This whole article is delusional.

Whilst I agree that we need to become more 'modern', not every client will have access to a computer. In fact a large majority of my clients do not even own a computer let alone use one. So whilst the data gathering stage may be good on-line in theory it isn't always going to be possible.

Hi Terri, well said we agree, but where can we find this technology?
Who can help us bring this to life in our practices?

I agree with this 100%
We definitely need to make our advice more engaging and user friendly. Currently SOA's are written for potential legal action, not client engagement. Most of us are able to articulate the advice to a client despite the SOA not because of it.
Furthermore, we need to sharpen up lots of our practices. As an industry we are very inefficient, making the cost of delivery expensive. Better use of technology is important, but we also need to change our mindset.