Advisers free to write simplified plans for small investors

Financial planners may be free to reduce the amount of information they provide to investors, particularly those with small amounts to invest. Instead of having to produce detailed reports for these clients, financial advisers will be able to give them a one- or two-page note, except for superannuation investments. ASIC said banks could reduce the size of product disclosure statement by the posting details on websites and other reference sites.

Advertisement