Advice documents
Fact Find
A comprehensive document used to collect and record a client’s personal and financial information, goals, needs and circumstances. It is the foundation for providing compliant financial advice under ASIC Regulatory Guide 175.
Fact find template
Fact Find
- 01
Client Personal Information
- 02If applicable
Family Details
- 03
Employment and Income
- 04
Assets and Liabilities
- 05
Cashflow Analysis
- 06
Existing Financial Products
- 07
Risk Profile and Investment Preferences
- 08
Goals and Objectives
and 5 more sections
The problem
Why the Fact Find takes so long today.
Without Claras
After a discovery meeting the details sit in a recording or a notebook until someone types them into the fact find, and gaps are only discovered when the paraplanner asks weeks later.
With Claras
Claras builds the fact find from the discovery meeting and any statements the client sends. Personal details the meeting did not cover are recorded as not provided rather than guessed.
Structure
How the Fact Find is laid out.
These are the sections of the Fact Find template in the Claras library, in the order they appear. Each section is drafted on its own from the sources you select. Conditional sections only appear when the advice covers them, and a licensee template can replace or reorder any of them.
Use it during initial meetings with new clients or when updating information for existing clients. Where the meeting did not cover a personal detail, the template records it as not provided rather than guessing.
- 01
Client Personal Information
Client details for each individual, the identification documents sighted for AML/CTF, and any special considerations.
- 02
Family DetailsConditional
Dependants, their level of dependency and expected changes, plus care responsibilities and other family considerations.
- 03
Employment and Income
Current employment, all income sources with annual amounts, income history and expected future changes.
- 04
Assets and Liabilities
Property, cash, investments, superannuation and other assets against loans and personal debts, with the net asset position.
- 05
Cashflow Analysis
Income summary, categorised expenses, surplus or deficit, savings capacity and observations on cashflow management.
- 06
Existing Financial Products
Superannuation accounts, insurance policies, investment, banking and other products with the detail needed to assess them.
- 07
Risk Profile and Investment Preferences
Risk tolerance, investment experience and preferences, risk capacity, variation notes, review triggers and an overall assessment.
- 08
Goals and Objectives
Short, medium and long term financial goals, lifestyle objectives, prioritisation and how each goal is being funded.
- 09
Estate Planning ConsiderationsConditional
Wills, powers of attorney, distribution wishes, superannuation and insurance nominations and succession considerations.
- 10
Aged Care and Health ConsiderationsConditional
Voluntarily disclosed health information, health insurance, long term care plans and aged care planning for family members.
- 11
Business DetailsConditional
Business structure, performance, assets and liabilities, insurance, banking and succession plan.
- 12
Superannuation Details
Each account, contribution history and cap space, retirement projections, SMSF details and the strategies discussed.
- 13
Client Declaration
The client’s declaration that the information is true and correct, with signature blocks and the privacy notice.
Sources
What Claras draws on.
You choose which materials are relevant. Claras reads the parts of them that each section of the Fact Find needs, and shows you the sources behind each section.
- The discovery meeting
- Statements and documents the client provides
- Any earlier record on the client
Controls
The same controls on every document.
- Fixed wording inserted word for word, where you turn it on
- Adviser and licensee details drafted from your practice profile
- Review guidance on every drafted section: light, standard or careful
- Personal information removed before anything reaches the AI, by default
- Version history on every document
- Word export in your branded template
Your templates
Make the template yours.
Owners, managers and advisers can create and edit document templates under Templates. Start from the library, your own Word file or a description, then adjust any section heading or outline. Add or refine a section with AI, move sections up or down, and choose the export style that brands the Word file.
Use a library template
Open the template library, pick one and use it. Claras makes a separate copy your practice owns and can edit.
Upload the one you already use
Upload your existing template and Claras builds an editable template from its structure. Then turn on fixed text for the wording that must not change, and upload your Word file as an export style for the branding.
Describe what you need
Tell Claras what the document is for and it generates the sections, outlines and conditional rules for you to refine.
Square brackets are instructions
Inside a section, text in [square brackets] tells Claras what to write. Plain text guides the wording, and fixed text locks it.
Lock fixed text
Turn on fixed text for a section and the wording outside brackets, like your AFSL, phone number or disclaimers, is inserted word for word.
Conditional sections
Mark a section conditional and it only appears when the advice covers it, so one template serves every scope.
Version history and updates
Every change is versioned and can be restored. When a library template you copied improves, review the summary and apply it while keeping your edits, or skip it.
Licensee templates
Templates from your licensee.
Claras sets up licensees’ approved templates for the practices under their licence. If yours is on Claras, you draft from the exact structure they signed off, and they keep control of it.
Select your AFSL
On the Licensee tab under Templates, choose the AFSL your practice operates under. If your licensee has templates in Claras, you can request access.
Your licensee approves
The licensee sees which of their templates your practice uses and when. No client information is shared in either direction.
Their templates appear in your list
Their templates show in the Documents tab under Templates with an Official badge, and anything added in the last week is marked new.
- The licensee controls the content. Their edits reach every practice as soon as they are made.
- You can apply your own export style so the Word file carries your branding, or keep the licensee’s.
- You can duplicate a licensee template into an editable copy only where the licensee allows copies.
- If a connection ends, documents you already created stay available. New documents and regenerating sections from that template stop.
Licensee not on Claras yet?
Start from the Claras library or upload your licensee’s Word template as your own. When your licensee joins, we set up their approved versions for every practice under the licence.
Who it is for
Built for advisers. Governed by licensees.
For advisers
Draft your next document from the meeting you just had.
Record or upload the meeting, pick the template and review the draft. Your first file notes are free and there is no credit card to enter.
For licensees
Share your templates with your advisers.
Send us your approved SOA and ROA templates and we set them up, with the wording that must not change marked as fixed. Every adviser under your licence drafts from the same structure.
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