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An Advisory Agreement sets out the formal relationship between an advisor and their client, detailing how the advisor will provide guidance, expertise, or consulting services. In Australia, these agreements commonly cover financial advice, business consulting, or strategic planning services, aligning with requirements from ASIC and the Corporations Act.

The agreement spells out key terms like fees, service scope, confidentiality obligations, and the advisor's duties of care. It protects both parties by clearly defining expectations, limiting liability, and ensuring compliance with Australian financial services laws - particularly important when the advice involves investments, business strategy, or regulated financial matters.

Use an Advisory Agreement when engaging external experts to provide strategic guidance, financial advice, or specialized consulting for your business. This becomes especially important when seeking expertise in areas like market expansion, investment strategies, or regulatory compliance under Australian financial services laws.

The agreement proves essential when working with advisors who will access sensitive company information, shape business decisions, or provide regulated financial services. Having it in place before starting the advisory relationship protects both parties, clarifies expectations, and creates a framework for measuring the advisor's performance and deliverables.

• Advisory Board Agreement: Formal contract for ongoing board-level advisory services, typically used for strategic guidance and governance oversight
• Consultancy Agreement With Company: Comprehensive agreement for professional consulting firms, covering project-based or retainer services
• Advisory Board Engagement Letter: Lighter-weight document for board advisors, outlining role expectations and terms
• Advisory Engagement Letter: Simplified agreement for individual advisors providing specific expertise or guidance

• Companies and Organizations: Businesses seeking expert guidance on strategy, finance, or operations, ranging from startups to established corporations
• Advisory Board Members: Industry experts, retired executives, or specialists who provide strategic guidance and insights to the organization
• Legal Teams: Corporate lawyers or legal departments who draft and review agreements to ensure compliance with Australian regulations
• Financial Advisors: Licensed professionals providing investment advice under ASIC guidelines
• Business Consultants: Independent experts or consulting firms offering specialized knowledge in specific industries or business functions

• Advisor Details: Gather full contact information, qualifications, and any regulatory licenses or registrations required under Australian law
• Scope Definition: Clearly outline advisory services, deliverables, and expected outcomes
• Timeline Planning: Document the engagement duration, meeting frequency, and key milestones
• Fee Structure: Determine compensation details, including rates, payment schedule, and expense reimbursement policies
• Compliance Check: Review ASIC requirements and industry regulations affecting the advisory relationship
• Document Generation: Use our platform to create a customized, legally-sound agreement that includes all essential elements

• Parties and Roles: Full legal names, contact details, and clear definition of advisor and client responsibilities
• Service Scope: Detailed description of advisory services, deliverables, and performance metrics
• Term and Termination: Agreement duration, renewal options, and conditions for early termination
• Compensation Terms: Fee structure, payment schedule, and expense reimbursement policies
• Confidentiality: Protection of sensitive information and intellectual property rights
• Regulatory Compliance: ASIC requirements, financial services laws, and relevant industry regulations
• Liability and Indemnity: Risk allocation, insurance requirements, and limitation of liability provisions

An Advisory Agreement differs significantly from a Consultancy Agreement in several key aspects, though they're often confused. While both involve external expertise, their scope, obligations, and typical applications vary considerably under Australian law.

• Scope and Deliverables: Advisory Agreements focus on strategic guidance and recommendations, while Consultancy Agreements typically involve specific project deliverables or hands-on implementation work
• Duration and Commitment: Advisory roles often involve ongoing, board-level relationships with regular meetings, whereas consultancy tends to be project-based or time-bound
• Legal Obligations: Advisors generally have lighter fiduciary duties and liability exposure compared to consultants, who often carry professional indemnity requirements
• Compensation Structure: Advisory fees typically follow a retainer or meeting-based model, while consultancy fees usually align with project milestones or hourly rates