Documents required for initial onboarding
When you initially look to join Shartru, we require several key items from you to allow us to do our due diligence as an AFSL. Should you choose to proceed to the onboarding stage you will receive an official email requesting the following items:
- 2 x professional references (names & phone numbers)
- Police Check
- Veda credit check
- RG146 certificates if applicable (both DFP & ADFP if you have both)
- Any other specialist training certificates (eg. SMSF)
- Certificates of Attainment (specialist training & both DFP & ADFP, if you have both)
- Copy of Driver's License
- Place of birth
- Professional Indemnity forms
- Corporate Authorised Representative details (including ABN)
- Start date for agreements
- Conflicts of Interest data
- 3 x copies of previous advice (SoA & FNA at minimum)
- Last audit report (exiting AFSL)
- Audit report from licensee preceding your exiting AFSL
Upon joining Shartru you will be issued with a Shartru FSG which is put together for you by compliance. You will need to notify your existing clients that you have joined Shartru, you can supply your FSG to them at this point.
Shartru is required to keep your FSG on file and any changes made to the FSG following version 1 need to be approved by compliance.
Statement of Advice
Shartru requires you to use our SoA template. It is automated in XPlan or you can use the word template we supply you.
Whilst the template SoA is provided you need to ensure you are personalising the document appropriately for the client.
When you first join Shartru, you will be required to undergo pre-vetting until such time as compliance is satisfied. Turnaround of prevet SoA’s is usually 3 business days.
Upon joining Shartru, you do not need to issue a new SoA to each client. This is only required when you provide financial product advice to a client for the first time under the Shartru license.
You may use an external paraplanner of your choice, however Shartru’s template must be used. Given the automation of the SoA template in XPlan, you may need to review how they charge for those services.
Shartru does not offer in-house paraplanning.
Ensuring our advisers remain compliant, Shartru has in-house audits completed throughout the year. All authorised representatives providing advice receive up to 3 file audits at any time. In addition to in-house audits, Shartru uses an external auditor at least once per year.
Shartru has a performance management policy.