Many advice firms reach a point where writing every Statement of Advice (SOA) and Record of
Advice (ROA) in-house starts to limit capacity. At the same time, advice documents must meet
high standards for clarity, compliance and audit readiness.
This article explores the key questions to consider when deciding whether outsourced SOA/ROA
production is right for your practice.
1. The Impact of SOA/ROA Production on Adviser Time
Producing advice documents in-house often means:
- Advisers spending hours writing or editing SOAs and ROAs
- In-house paraplanners working at full capacity during busy periods
- Delays in document turnaround when competing priorities arise
- Reduced time available for client meetings and new business
Simple test: If advisers regularly stay back late to finish SOAs/ROAs, your
practice may benefit from external support.
2. Benefits of Outsourcing SOA/ROA Production
- More adviser time: Advisers focus more on client-facing work.
- Scalability: Additional capacity is available during peak periods.
- Cost control: Pay per document or on a flexible basis.
- Consistency: Standardised documents that match your AFSL templates.
- Compliance support: Better documentation of strategy rationale and risks.
3. Risks and Considerations
Outsourcing is not without trade-offs. Key considerations include:
- Ensuring data is handled securely and confidentially
- Maintaining alignment with licensee templates and APL
- Setting clear expectations for turnaround times
- Defining a robust handover process from adviser to paraplanner
These are manageable with the right partner and processes, but they must be considered
upfront.
4. When Outsourcing Works Best
Outsourced SOA/ROA production tends to work best when:
- You have consistent advice volume and clear processes
- Advisers complete thorough file notes and instructions
- Licensee templates are well structured and up to date
- You have an agreed checklist for each advice type
Practical tip: Start with a subset of advice cases or specific advice types
(e.g. insurance, super, retirement) to refine your outsourcing model.
5. Keeping Control of Advice Quality
Outsourcing does not mean losing control of advice quality. The adviser remains responsible
for:
- Strategy and recommendations
- Client discussions and confirmations
- Final review and sign-off of documents
The paraplanning team supports by converting your strategy and file notes into clear, compliant
documentation.
6. The AdviserPro Approach to SOA/ROA Production
AdviserPro provides:
- SOA and ROA documents aligned to your AFSL templates and guidance
- Focus on clarity for clients and evidence for audits
- Turnaround times agreed in advance
- Structured communication and feedback loops for advisers
7. Questions to Ask Before You Outsource
- How many SOAs/ROAs does your firm produce per month?
- How much adviser and in-house paraplanner time is spent on them?
- What are your pain points — turnaround times, quality, consistency?
- Which advice types would benefit most from external support?
- What information and templates does an outsourced partner need from you?
Answering these questions will help you decide whether outsourced SOA/ROA production is a good
fit and what model might suit your practice.
8. Getting Started with AdviserPro
AdviserPro can initially work with a small number of advice files so you can experience how
outsourced SOA/ROA production fits with your existing processes and licensee requirements.
- Begin with a pilot set of cases
- Refine handover standards and checklists
- Confirm turnaround times and communication channels
- Scale up once the model is working smoothly
Considering whether to outsource SOA/ROA production?
Book a chat with AdviserPro →
