Advice Governance | Best Interests Duty, Supervision and Compliance

Advice Governance is the framework of oversight, decision-making, supervision and accountability that helps financial advisers and licensees deliver advice that is compliant, defensible and in the best interests of clients. It extends beyond regulatory obligations and focuses on how advice is developed, documented, reviewed and evidenced throughout the client journey.

Strong advice governance helps organisations demonstrate that advice recommendations are appropriate, risks are properly assessed, conflicts are managed, and decisions can withstand regulatory scrutiny. Weak governance, by contrast, often reveals itself through poor documentation, inadequate supervision, unclear advice boundaries, and an inability to evidence the rationale for a recommendation.

This resource hub explores the practical aspects of advice governance, including best-interests obligations, advice quality, record-keeping, supervision, accountability, breach reporting, and ASIC enforcement expectations. Whether you are an adviser, responsible manager, compliance professional or licensee, these articles and resources provide practical guidance to help strengthen advice processes and reduce regulatory risk.