SMSFs and cognitive decline – Evidencing your client’s informed consent

National Conference 2022

This session gives practitioners a grounding in responding early to impaired decision making in any context and introduces practitioners to cognitive responsive interviewing and client onboarding.

This approach can be instrumental in mitigating the risk of abusive or coercive conduct emerging in operating your clients’ affairs.

We will use cases drawn from practice including examples of problems faced by SMSF trustees when discharging their duties to beneficiaries.

At the end of this session, you will be able to: 

  • Understand when evidencing informed consent is critical

  • Understand what causes and concerns can trigger the need for decision making ability evaluation

  • Learn to recognise common behaviours that can evidence the cognitive impairment of your client

  • Learn guidelines for cognitive responsive interviewing and onboarding of clients, their representatives and supporters.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association