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SOA – Statement of advice

Outlines the recommendations being made by a financial planner

ROA – Record of advice

​Similar to a SOA, but much less detailed and comprehensive​

FSG – Financial Services Guide

A document that outlines available services and products. It explains adviser remuneration, and lists internal and external complaint handling procedures

AFSL – Australian Financial Services License

Required licensing for a financial services firm to conduct business​

FPA – Financial Planning Association

​Financial Planning Association

​CFP – Certified Financial Planner

​Highest level of certification an Australian financial planner can achieve

DFP – Diploma, Financial Planning

Signifies that a planner has a tertiary qualification in financial planning


CPI – Consumer Price Index

Measures inflation i.e. the changes in the price of goods and services

​ASX – Australian Stock Exchange

Electronic exchange where shares and other Australian securities are traded

​RBA – Reserve Bank of Australia

The Australian Central Bank – maintains the financial system and issues banknotes

ASIC – Australian Securities & Investment Commission

Australia’s corporate, markets, and financial services regulator

GFC – Global Financial Crisis

The financial crisis that peaked globally in 2008

​APRA – Australian Prudential Regulation Authority

​The regulatory body that oversees the banking, credit unions, insurance, and super industries

​ATO – Australian Taxation Office

​Taxation authority

​P/E – Price / Earnings Ratio

​A company’s market value per share.


SGC – Superannuation guarantee

​Superannuation guarantee contributions are compulsory contributions made by your employer to your nominated superannuation fund.

​ABP – Account-based Pension

​An income stream, funded by money in your super that is accessible after reaching preservation age.

​TTR – Transitions to Retirement (pension)

A policy that allows you to keep working while also accessing some of your super benefits

​SMSF – Self-Managed Super Fund

​A private super fund that you manage yourself

​LITO – Low Income Tax Offset

​Tax offset available to low income taxpayers

​CC – Concessional contribution (pre-tax)

​Pre-tax contributions made to super account (e.g. salary sacrifice, employer contributions)

​NCC – Non-concessional contribution (after tax)

​Super contributions on which tax deductions have not been claimed

​Co-Co – Government Co-Contribution

​For low- and middle- income earners who make an after-tax super contribution, the government will automatically make an additional contribution

​LRBA – Limited Recourse Borrowing Arrangement

​The borrowing of money to purchase a single asset, like property, for your super.


CRN – Customer Reference Number

A personal identifying number used for Centrelink purposes

APA – Age Pension Age

The age at which you qualify for age pension

CLK – Centrelink

Welfare system delivering payments and services to those in need

​CSHC – Commonwealth Seniors Health Card

​Provides seniors with access to cheaper prescriptions and medical services, as well as other government concessions.

​FTB-A – Family Tax Benefit – Part A

​Provides assistance to families and is paid per-child

​FTB-B – Family Tax Benefit – Part B

​Provides assistance to single parents, non-parent carers (e.g. grandparents), and couples with one main income