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General Advice

If general advice is given to a retail client, a general advice warning must be given at the same time as and in the same manner as the advice provided. The general advice warning must include the following:

• The advice was prepared and provided without taking into account the client’s objectives, financial situation or needs;
• Because of that, before acting on the advice, the client should consider its appropriateness (having regard to their objectives, needs and financial situation); and
• If the advice related to the acquisition of an insurance policy that the client should obtain a Product Disclosure Statement (PDS) relating to the policy before deciding whether to acquire it.

A general advice warning should not be given if the adviser has provided personal advice.