Every SoA, read against the law before you send.
Section by section, against the Corporations Act and ASIC’s guidance. Each issue is marked in the document with the section of the law it relates to and how to fix it. You decide what changes.
Thirteen parts of every SoA, and what the law asks of each.
Every check is mapped to the provision or guide it comes from. Where the law is exact, the check is written as a rule, not left to AI judgement. A flag that points at your words has to quote them exactly, and one whose quote is not in your document is dropped.
Specimen Advice Partners.
Statement of Advice
Prepared for Mr Andrew James Donnelly and Mrs Claire Elizabeth Donnelly
What the check looks for
- •Adviser and licensee named
- !Licensee contact details on the coverShould fixs947C(2)(d)The cover names the adviser but not the licensee’s phone or address.
- •Preparation date and validity
Every flag says what, where, why, and what to do about it.
About: Option (ii) provides good investment flexibility but at higher percentage costs at your balance level
The alternatives are described but there is no explanation of why the SMSF is superior to Platform A or Platform B in dollar terms.
What to do: Compare the annual cost of the SMSF against Platform A and Platform B at the $957k balance, showing the dollar difference.
Dollar figures checked against the client’s own file.
A dollar figure is read with the words around it, so BackPro knows whether it is meant to be a balance, a premium or a fee, and checks it against what the client’s file holds for that kind of figure. Putting the income where the balance belongs can be caught, not just a typo.
1 figure disagrees with the client’s record
The sentence says what the figure is, and the client’s file holds a different value for it. One of the two is wrong.
- $186,000Stated as the account balance. The client’s record holds $742,000.Use $742,000Keep $186,000
2 other figures to check
Not on the record, close to something on it, or arithmetic from a figure that is. Worth an eye before sending.
- $948,000Close to $957,000 on the record. Probably rounding.Mark as checked
- $3,899Not on the client’s record or the comparison tables.Mark as checked
Fix it in one click, or keep it
“Use $742,000” puts the figure from the file in its place; “Keep” or “Mark as checked” records that you judged it right. Download the client copy with a figure still disagreeing and BackPro asks you to review it first, or download anyway. Illustration, using the specimen client.
- Shown in red
Disagrees with the record
The sentence says what the figure is, and the client’s file holds a different value for it. One of the two is wrong.
- Shown in amber
Not on the record
Not on the client’s record or the comparison tables, so it cannot be confirmed.
- Shown in amber
Close to the record
Between 0.5% and 2% from a figure on file. Probably rounding.
- Shown in amber
Worked out from the record
Not stated on file but it follows from a figure that is, like a monthly amount shown yearly. Check the arithmetic.
Your wording and your licensee’s, enforced on every document.
Locked wording · Consolidate super
Only the highlighted details change per client. The AI writes nothing here.
Lock a strategy’s recommendation wording and BackPro uses it word for word, every time. A detail the file cannot fill stops the draft rather than guessing.
A paraplanner check, then licensee sign-off.
4
Waiting on paraplanner
2
In paraplanner review
1
Changes requested
3
Waiting on licensee
Compliance checklist (0/16)
- s961B(2)(a): client’s objectives, financial situation and needs identified
- s961B(2)(b): subject matter of the advice sought identified, and scope adjusted where needed
- s961B(2)(c): reasonable inquiries made where information was incomplete or inaccurate
- s961B(2)(d): adviser had the expertise required for this advice
- s961B(2)(e): recommended products reasonably investigated and assessed
- s961B(2)(f): all judgements based on the client’s relevant circumstances
- s961B(2)(g): any other step that would reasonably be regarded as in the client’s best interests
- Advice scope and subject matter clearly defined
- Client goals and objectives addressed by the recommendations
- Product replacement disclosure complete (s947D) where applicable
- Fees and costs disclosed accurately
- Risks of the recommendations explained
- Alternative products and strategies considered and documented (s961B(2)(e))
- Recommended products are on the Approved Product List
- Conflicts of interest identified and client interests prioritised (s961J)
- SoA presentation is clear, concise and effective (s947B)
Complete the checklist first (0/16 done)
Approve → licenseeThe 16-point advice review
The seven s961B(2) steps, then scope, goals, replacement, fees, risks, alternatives, the Approved Product List, conflicts and clarity. The paraplanner cannot hand on until every check that applies is ticked.
Opened for you
PracticeA review opens after each SoA BackPro drafts, with the checks the compliance pass found clean already ticked.
Nothing handed on half done
Digital and PracticeThe paraplanner cannot pass a review to the licensee until every check that applies is ticked.
Locked until signed off
Digital and PracticeOnce an SoA is under review, the copy for the client cannot be downloaded until the licensee approves it.
Best Interests Duty, on the record
PracticeAfter each SoA, a Best Interests Duty attestation is drafted from the compliance pass, ready for you to attest:
- Best interests duty mets961B
- Advice is appropriates961G
- Incomplete-information warning addresseds961H
- Client’s interests prioritiseds961J
The compliance work does not end at the flag.
Step 1 of 6
Apply the fix
Ask the AI to apply a flag’s fix, right from the flag.
No dollar comparison of the alternatives.
On BackPro Practice. Illustrations using the specimen client.
The work on the advice, on a tamper-evident log.
Section edits, figure fixes and confirmations, flags marked addressed, compliance re-checks, draft downloads and each step of an advice review are written to an audit log where each entry is sealed to the one before it. Change or remove a sealed entry and the next integrity check shows it. The log and its integrity check are in BackPro Practice.
- Compliance re-check runSpecimen SoAD. Whitford
- Section editedSpecimen SoAD. Whitford
- Figure fixed$186,000 → $742,000D. Whitford
- Fee and premium figures confirmedComparison tablesD. Whitford
- Review sent to the licenseeIn paraplanner review → Pending licenseeParaplanner
- Licensee approved for deliverySign-off stored as evidenceLicensee
Every step recorded
Each step from the first check to the licensee’s approval is written to the audit log with who did it, and the licensee’s approval is stored as evidence. Illustration.
“Our reporting quality improved while our turnaround time dropped. Clients notice the difference.”
James Walker PowellFounder and Financial Adviser, More4Life“Finally, AI our compliance team actually approves.”
More4Life reported 90% less time per SoA. Frazer Walker reported 60% less SoA production time.
BackPro flags. You decide.
- 01
BackPro flags
Each issue, marked in the document, with the section of the law and a suggested fix.
- 02
You review
Accept a fix, change it, or decide it does not apply to this client.
- 03
You sign
The suitability judgement and the sign-off stay with you, as they should.
Templates, tools and notes on this, no sign-up needed.
Questions, answered.
No. It flags what it finds, says which section of the law it comes from and suggests a fix. You decide what to change, and you sign. The suitability judgement and the sign-off stay with you.
The Corporations Act (including s946AA, s946B, s947A to s947D, s961B to s961J and s962G), ASIC’s RG 175 and RG 181, INFO 182 and INFO 255, REP 413, REP 562 and REP 824, the superannuation caps and thresholds, and, where the advice covers them, the Aged Care Act 2024 and credit licensing.
Every check gives the SoA a score out of 100, alongside the issues themselves. Use the issues to decide what to fix; the score shows how close the document is.
A finished SoA as a Word document (.docx) or a PDF. Our specimen SoA took about two minutes to format and check.
Only if you ask it to format it. Screen alone checks the document as it is. Either way you get the issues marked, and you choose what to fix.
Every plan checks an SoA you upload. BackPro Digital adds drafting, with the figure check, Records of Advice and advice reviews. BackPro Practice adds the full compliance pass on every SoA BackPro drafts, the Best Interests Duty record and the compliance registers.
Run your next SoA through BackPro.
Start free and check your first SoA today. Not ready? Run the check on our sample SoA first, no sign-up needed.