S2E10 Client Capacity Challenge The Standard In Financial Advice podcast

Challenge the Standard in Financial Advice « »

3M ago 54:35

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In this week's episode, Nathan and Jordan examine a big issue that ALL practitioners are going to have to confront in their career - our client's capacity to provide details, instructions and decisions with our advice.

Nathan and Jordan discuss:

What IS client capacity and what are the different forms it takes?
Why should financial advisers care?
What are some tips for advisers to follow when navigating this complex area?
What are the limits of adviser responsibility and involvement?
What can we learn from other professions (particularly our colleagues in the legal space)?
And, finally, what are some things we can start doing today to be prepared?

Given the space they each work in, this is a really interesting and important part of Nathan and Jordan's practices - hopefully that comes through in this week's discussion.

References

LIV Capacity Guidelines and Toolkit For Lawyers: download.aspx (liv.asn.au)

Law Society of NSW Reference: Clients mental capacity.pdf (lawsociety.com.au)

Case Review (Banks v Goodfellow) - 38-3-16.pdf (unsw.edu.au)

Goddard Elliott v Fritsch [2021] Case Note - Barry, Lise --- "Goddard Elliott v Fritsch [2012] VSC 87 - Case Note" [2012] MqLawJl 7; (2012) 10 Maquarie Law Journal 131 (austlii.edu.au)

Loss of Capacity (Further Reading): Australian Taxation Institute Journal - Loss of capacity – an issue for all advisers - Christine Smyth Estate Lawyers

37 episodes