Best Interests Duty (BID) - AFSL

The Best Interests Duty Policy sets out who the best interests obligations apply to and the licensee's expectations of financial advisers. The policy provides guidance on meeting the safe harbour steps as a means of demonstrating compliance with the best interests duty, as well as guidance on the record keeping obligations. The policy also provides information on meeting the requirements under the conflicts priority rule, with tips and examples to assist with identifying and managing conflicts. The policy also covers the requirement for advice to be appropriate.

This resource may assist financial advisers and Australian Financial Services Licence (AFSL) holders looking for a Best Interests Duty policy template and practical compliance guidance for providing personal financial advice to retail clients.

This resource may assist financial advice practices and Australian Financial Services Licence (AFSL) holders looking for a Best Interests Duty policy template and practical resources for advisers providing personal financial advice to retail clients.