Be careful not to give advice

Financial services law prohibits unlicensed persons from giving any advice that takes into account an individual's objectives, financial situation or specific needs.

What can you do?

You can give employees factual information only, for example:

  • how superannuation works
  • factual tax information on superannuation
  • your company's default super fund, including providing a Product Disclosure Statement issued by the fund.

What can't you do?

You can’t make a recommendation or give an opinion that may influence a person's decision about a financial product unless you’re licensed to do so.