Answer To:
Prince answered on May 15 2022
Week 3
Answer a
The Regulatory Guide assists organisations in exercising their authorities and implementing them in the best interests of their customers. Their primary responsibility is to facilitate, maintain, and improve the system's performance inside the organisation. ASIC barred Gold Coast financial planners from providing the best possible service because they weren't a qualified or independent organisation. RG 146 is concerned with the degree of training, competence, and experience of financial products advisers. All services offered to clients must follow all regulations and rules and be in the clients' best interests.
Answer b
Mr. Allan and Mr. Urrutia both were found to be delivering services without doing a thorough research into the client's aims and needs, according to ASIC. They didn't undertake a thorough analysis of the client's insurance products or superannuation plan, and they gave advise based on incomplete or inaccurate information. As a consequence, their advise was insufficient to substitute any current investment instruments due to a lack of suitable logic and reasons. They were more concerned with their own financial gain than with the client's best interests. As a result of their lack of thorough preparation and analysis, the customers were dissatisfied and had a negative impression of the company.
Answer c
Because Mr. Allan and Mr. Urrutia failed to give adequate explanation for the customer demands, the clients were dissatisfied with their insurance and pension services. Furthermore, the materials were materially false, leading to a negative influence on the business. That sort of service not just to damages the client connection, but it also has a negative impact on the company's market position.
Week 4
For adherence and to fulfill the regulations, an organisation must have the following five values, according to the FASEA code of ethics:-
· Trustworthiness
· Competence
· Fairness
· Honesty
· Diligence
The level of trust a customer has had in their solicitor's capacity to follow their commitments, be honest, and be fair is measured in terms of trust. Information asymmetries always would prevail between both the client and their advisor because the adviser often has much more knowledge on the counseling subject at hand than that of the client. So, regardless of ability to govern behaviours, customers expect their consultant to operate in their best interests and not engage...