We publish the FOS Approach to help make it as easy as possible for everyone to understand how we consider disputes about particular issues. This includes the different elements we will consider and the relevant Codes, legal principles, obligations and industry best practice that we will apply. We want to share this knowledge so that everyone can learn from the thousands of disputes we see each year.
The latest document in this series talks about our approach to loss calculation in financial advice disputes. The types of financial services providers that provide financial advice include financial planners, stockbrokers and advisers employed by banks, superannuation trustees and managed funds. Consumers may consult a financial adviser for help on how to make and achieve financial goals, and for guidance on making investments. This document sets out how we identify loss in financial advice disputes, and the way we work out how much compensation we may award.
You can read our whole Approach to loss calculation in financial advice here.
Visit www.fos.org.au/approach to see all the available FOS Approach documents.