The importance of documenting advice and explaining what risk advisers do has never been as important, according to Financial Planning Association CEO Dante De Gori and Association of Financial Advisers CEO, Phil Kewin.

The review has started, De Gori noted on the sidelines of the Risk Advice Summit in late September. A formal review will be conducted of the risk insurance segment in 2021.

Kewin emphasised documentation of advice as key in the context of the attention lavished on this segment at the moment by policy makers and regulators.