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Statements of Advice have long been a viewed as protection document for advisers and licensees rather than a guide for consumers. For practices that have adopted video SOAs the process has become streamlined and they can more confidently prove consent from the client.
This means that super account holders with balances over $1.7 million could benefit from delaying their retirement until July 1 to capitalise on the increased cap, which is set to jump to $1.9 million.