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TeachMeFinance.com - explain Letter of advice historic definition... Letter of advice -- A letter giving special information, as from a consignor to a consignee or from an agent to a principal or from drawer to drawee of a bill of exchange. The term is often abbreviated to advice. Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.