Compass | Filing Guidance | File Note Type and Subtype | Centrepoint Alliance Technology Solutions

Overview:

Navigating electronic filing systems like Compass requires a structured approach to ensure documents are easily retrievable when needed. With the implementation of a new file note structure, we aim to enhance the efficiency of document retrieval and minimise discrepancies in filing practices. This guide provides comprehensive instructions on filing categories and offers further guidance on maintaining various types of data.

Filing Categories:

To streamline document retrieval, we recommend utilising the main 'Note' type as the primary filing category in Compass. While the use of subtypes can provide additional organisation, it is optional and depends on individual preferences. It is imperative that advisers maintain adequate records, particularly in compliance with regulatory requirements. Records of financial product advice for all clients must be retained for a minimum of 7 years after the client ceases to be current.

It is essential to maintain records relied upon in accordance with regulatory obligations, including s961B (Best Interests Duty), s961G (appropriateness of advice), and s961J (conflicts of interest).

By adhering to these filing guidelines, advisers can ensure efficient document management and regulatory compliance within the Compass systems.

File Note Type	File Note Sub Type	Example documents to include
I. Client Engagement	All	Combinations of the above documents e.g. CDF and RPQ
I. Client Engagement	AML/CTF ID documents	AML/CTF ID forms, Risk Assessment
I. Client Engagement	CDF	CDF
I. Client Engagement	Engagement document	Terms of Engagement, Ongoing Fee Agreement (OFA), Fixed Term Agreement (FTA)
I. Client Engagement	FSG	FSG and Adviser Profile
I. Client Engagement	RPQ	RPQ
I. Client Engagement	Supporting Data	Additional fact-finding documents
II. Research	Research	Any product or strategy research conducted, Insurance Quotes
II. Research	APL Approvals	Insurance, Legacy and Restricted APL approval requests and approvals
III. Advice Document	ATP	ATP for SoA
III. Advice Document	Execution Only	Execution Only
III. Advice Document	RoA	RoA
III. Advice Document	Paraplanning	Correspondence with paraplanners
III. Advice Document	SoA - Draft	SoA draft version
III. Advice Document	SoA - Final	The SoA that was presented to the client
III. Advice Document	Time Critical Document	Time Critical
IV. Implementation	Application	Insurance, Investment or Superannuation applications, variations or switches
IV. Implementation	Checklist	Compliance and file checklists utilised
IV. Implementation	Invoice	Fee invoices
IV. Implementation	Share trading	Contract Note
V. Ongoing Advice	FDS and Renewal Notice	FDS and Renewal Notice
V. Ongoing Advice	Fee cancellation	Evidence of fee cancellations
V. Ongoing Advice	Consent Forms	Consent forms for the deduction of fees
V. Ongoing Advice	Review Document	Review documents (for both OFA and FTA)
V. Ongoing Advice	Portfolio Reports	Investment portfolio valuations and reports Insurance reports
VI. File Notes and Correspondence	E-mail	Any email correspondence
VI. File Notes and Correspondence	Newsletter	Newsletters and generic e-mail blasts
VI. File Notes and Correspondence	Phone Call	File note of phone call
VI. File Notes and Correspondence	Other Correspondence	Correspondence with non-clients
VI. File Notes and Correspondence	Meeting	Ad-hoc Meeting Notes
VII. Other	Centrelink	Centrelink Application, Centrelink Forms, Centrelink Correspondence
VII. Other	Aged Care	Documents relating to Aged Care
VII. Other	Claims	Claims documents
VII. Other	Company documents	Trust Deeds, financials, etc
VII. Other	Historic documents	Historic records
VII. Other	Legal documents	BDBN, Wills, PoA etc
VII. Other	Lending	Any documents related to lending advice
VII. Other	Other	Any documents that do not fit into other categories or multiple documents
VII. Other	Property	Lease agreements, property deeds or other documents
VII. Other	SMSF documents	Trust Deeds, FIS, minutes, SMSF administration
VII. Other	Wholesale client documents	Accountants Certificate, Wholesale Client Letter, Checklist
VIII. Disengagement	Disengagement letter and correspondence	Disengagement letter and correspondence related to disengagement with client