In line with the changes to FSGs for 1 July and the Enhanced FDS requirements, the following advice documents and templates are currently being updated and will be released on the Adviser Portal on Monday:

• SoA (fee disclosures)
• RoA (fee disclosures)
• Fee Disclosure Statement 
• Ongoing Service Agreements
• Fee Consent Form (new document)

The new Enhanced FDS and Fee Consent Form, as well as the updated Ongoing Service Agreement, will be available via XPLAN on Monday 28 June. 

In line with the changes to Madison’s Licensee fees, the fee disclosures in all advice documents will reflect the removal of the 5% split. As with all times where there are changes to fee disclosures, it is possible you will have advice documents prepared prior to 1 July 2021, which has either been prepared but not presented, or presented but not implemented (for SoAs, ATP not signed; for RoAs, clients not yet confirmed approval to implement). In these circumstances, you will need to issue to your client a letter to confirm the change. The templates are below and will be available on the Adviser Portal on Monday 28 June:

Letter 1 – Advice prepared but not presented

Letter 2 – Advice presented but not implemented

Please contact your Advice Coach if you have any questions.

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