RG 244 Giving information, general advice and scaled advice
Issued 13 December 2012
This guide is for Australian financial services (AFS) licensees, authorised representatives and advice providers who give information and advice to retail clients, and explains:
the differences between giving factual information, general advice and personal advice, and
how to meet the advice obligations in Ch 7 of the Corporations Act 2001, including the best interests duty and related obligations, when giving ‘scaled’ advice (i.e. personal advice that is limited in scope).
Our guidance aims to facilitate access for retail clients to good quality information and advice about all financial products.