advice

advice

means, subject to subsection (3)(a), any recommendation, guidance or proposal of a financial nature furnished, by any means or medium, to any client or group of clients -

a)	in respect of the purchase of any financial product; or

b)	in respect of the investment in any financial product; or

c)	on the conclusion of any other transaction, including a loan or cession ,aimed at the incurring of any liability or the acquisition of any right or benefit in respect of any financial product; or

d)	on the variation of any term or condition applying to a financial product , on the replacement of any such product, or on the termination of any purchase of or investment in any such product, and irrespective of whether or not such advice –

i)	is furnished in the course of or incidental to financial planning in connection with the affairs of the client; or

ii)	results in any such purchase, investment, transaction, variation, replacement or termination, as the case may be, being effected;