Financial Advice · AI Governance
AI compliance for
financial advice practices.
AI is entering your SOA process, your research workflow, and your client communications. In a post-Hayne environment, best interests duty doesn't pause for ungoverned technology. Govara makes AI compliance straightforward before December 2026.
The risk
AI risk in financial advice
is a compliance risk
Best interests duty exposure
Under s961B of the Corporations Act, advice must be in the client's best interests. AI-generated SOA content or research that hasn't been properly reviewed and governed creates regulatory exposure that ASIC is actively monitoring.
Client financial data in AI platforms
Advisers and paraplanners use AI tools with client portfolio data, income information, and personal details — often US-hosted, with no data sovereignty. APP 11 requires this data to be protected. From 2026, non-disclosure triggers OAIC enforcement.
No FASEA-aligned AI policy
The FASEA Code of Ethics requires advisers to act with competence and diligence. Using AI without a documented governance framework — including training, oversight, and vendor risk assessment — exposes the practice and AFSL holder.
The platform
Three modules for
AFSL AI governance
1
AI Tool Inventory
Discover every AI tool used by advisers, paraplanners, and admin — from Copilot in your PMS to AI research tools and GPT-based SOA drafters. Builds a live AI inventory register with risk scores and data classification per tool, forming your AI risk assessment baseline.
2
Policy & Disclosure Pack
Generate an AI acceptable use policy aligned to the FASEA Code of Ethics and Corporations Act obligations. Includes FSG and privacy disclosure updates for AI data handling, AI vendor risk assessment templates, and APP 1.7–1.9 compliant client disclosures — ready to review and issue.
3
Audit Evidence & Trust Centre
Immutable audit log of AI governance activities — policy signoffs, training completions, vendor assessments. Export a board-ready PDF for AFSL compliance reviews and ASIC audits. Demonstrate to clients and the regulator that AI is governed inside your practice.
Compliance obligations
The regulations your
practice must meet
FASEA Code of Ethics — competence, diligence, and acting in clients' best interests when using AI in advice
Corporations Act 2001 / s961B — best interests duty obligations when AI assists in advice generation
Privacy Act 1988 / APP 11 — secure handling of client financial and personal information
APP 1.7 — disclosure of AI data handling in FSG and privacy policy from December 2026
AFSL conditions — documented AI governance policy as part of your compliance framework
ASIC RG 175 — ongoing obligations for AFS licensees using AI in advice processes
Two-week assessment.
Board-ready report.
Board-ready report.
We map every AI tool across your practice, identify FASEA and APP gaps, and deliver a governance report ready for your AFSL compliance review. Fixed fee — $5,000.
Book AssessmentOr email us at hello@govara.com.au