Financial Services Guide. Share in our knowledge. Dated 10 May 2013 Version 1

Transcription

1 Financial Services Guide 1 Share in our knowledge. Dated 10 May 2013 Version 1

2 Contents This Financial Services Guide (FSG) is an important document which we are required to give you under the requirements of our Australian Financial Services Licence age 2. What financial services are we authorised to provide and how will we provide these services to you? 2. What are our authorisations? 2. How can you communicate instructions to us? 2. What do we expect from you? 2. How are we being remunerated for the services we provide? 2. What fees or other benefits are received? 3. Will anyone else be remunerated for referring you to us? This FSG provides you with information about SMSF artners ty Ltd and Acquire rivate Wealth ty Ltd and James Griffiths to help you decide whether to use the financial services we provide. This FSG explains the services we can offer to you and the types of products we offer. It also explains how we (and other related persons) are remunerated for these services, and includes details of our internal and external complaints handling procedures and how you can access them. SMSF artners ty Ltd authorises the distribution of this FSG. If you choose to use our services you may also receive from us a roduct Disclosure Statement (DS), Statement of Advice (SOA) and/or Record of Advice (ROA). To invest in any of our recommended financial products you must complete the application form attached to the relevant DS. The DS contains information about the particular product and will assist you in making an informed decision about that product. If we provide you with personal financial product advice rather than general financial product advice we will initially provide you with an SOA. ersonal financial product advice is advice that takes into account one or more of your objectives, financial situation and needs. The SOA will contain the advice, the basis on which it is given and information about fees, commissions and any associations which may have influenced the advice. On an ongoing basis, an ROA will be provided instead of an SOA if there have been no significant changes in your personal circumstances or the basis of the advice has not significantly changed since your last SOA was provided. You have the right to request a copy of your ROA at any time. If you have a current industry or employer superannuation fund, we will only recommend a rollover to another superannuation fund or self managed superannuation fund if it is in your best interest. However please note, we do not recommend specific industry or employer funds as new funds as they are not on our Approved roduct List. We will not provide advice on classes of financial products other than those identified in SMSF artners ty Ltd AFS Licence. 3. What should I do if I have a complaint? 3. rofessional Indemnity Insurance 3. What information do you maintain in my file and can I examine my file? 4. Who is my adviser? 5. Schedule of Fees About SMSF artners and your adviser? SMSF artners ty Ltd (ABN ) as the Australian Financial Services Licensee is responsible for the advice and services offered to clients by its appointed Authorised Representatives through its trade mark entity SMSF artners. SMSF artners ty Ltd appoints Authorised Representatives to act on its behalf for the provision of authorised financial services through SMSF artners. SMSF artners ty Ltd as the Australian Financial Services licensee is therefore responsible for the financial services provided by its Authorised Representatives through SMSF artners. Details of your Adviser can be viewed in the Adviser rofile section of this FSG. In some cases, Advisers may be authorised to provide services on a limited range of services on our behalf. In these circumstances, it is important to note any restrictions to their authority detailed in their Adviser rofile. We are not responsible for any unauthorised services to the extent permitted by the law. ersonal financial product advice is advice that takes into account one or more of your objectives, financial situation and needs. How you can contact us You can contact us by: Calling us on Sending us a fax on Visiting our website smsfpartners.com Sending us an at info@smsfpartners.com Writing to us at, O Box 1476 Kenmore, QLD

3 What financial services are we authorised to provide and how will we provide these services to you? SMSF artners can offer financial services that cover the following areas: Advice on Self Managed Superannuation Funds (SMSF) Advice on structuring your assets, investments and superannuation for tax effectiveness and flexibility Risk management and protection of assets Advice on wealth creation and cash flow management strategies rovide estate planning advice through the use of SMSF Wills Administration of and reporting of your investments including performance and asset allocation Regular review of your self managed superannuation and personal planning strategies and objectives What are our authorisations? From the above financial services, certain authorised financial products may be recommended to you by your Adviser. SMSF artners can provide advice and arrange transactions in the following class of financial products: Superannuation, including Allocated ensions, Rollovers, ersonal Superannuation, Company Superannuation and Self Managed Superannuation Funds; Deposit and ayment roducts; Life Insurance roducts, including Annuities, Term Insurance, Income rotection, Trauma and Total and ermanent Disability Insurance. Your adviser can only provide advice on financial products within SMSF artners Approved roduct and Services Lists that they are authorised to by SMSF artners ty Ltd. The Approved roduct and Services List includes a large range of researched and analysed product and we will only recommend you aquire a financial product if we believe that it is appropriate for you to do so. Details of your Adviser s authorisations can be viewed in the Adviser rofile. How can you communicate instructions to us? You may specify how you would like to give us instructions. For example, by telephone, fax, or other means. But in all cases we must receive a written confirmation of these instructions. What do we expect from you? We expect that you will provide us with accurate information that we request so that we have a reasonable basis on which to provide you with advice. Laundering and Counter Terrorism Finance Act to verify your identity and the source of any funds. This means that we will ask you to present identification documents such as passports and driver s licence. We will also retain copies of this information. We assure you that this information will be held securely. We cannot provide you with services if you are unwilling to provide this information. How are we being remunerated for the services we provide? The way in which we are remunerated varies according to the nature of the services provided to you. Your Adviser will discuss the payment options with you before providing you with any service. The payment options available are: A fee based on the time and value created in developing your plan A fee based on the time and value created in implementing your plan An agreed fee paid annually or by instalments A combination of any of the above options. Details of our current fees can be viewed in the Schedule of Fees section of this FSG. The Statement of Advice provided to you will contain details of our fees and any payments we receive from Financial roduct providers. It is important to note that in Section 911C of the Corporations Act it prohibits any Corporate Authorised Representative or individual authorised representative from holding out as a licensee and this includes receiving fees and commissions directly from clients. SMSF artners ty Ltd as the financial services licensee is entitled to receive all fees that are disclosed above. However, the licensee has assigned the right to the Individual Authorised Representative or Corporate Authorised Representative (CAR) to receive these fees for service directly from clients. SMSF artners ty Ltd has the right to alter this arrangement at any given time and you will be advised of changes to this arrangement if made. What fees or other benefits are received? None. SMSF artners calculation of fees is dependent on the level of service appropriate to the needs of the client. It has many levels of service each providing benefits befitting the clients it is designed to service. This policy prohibits SMSF artners staff, advisers and member firms from receiving incentives it feels have a real potential to influence recommendations. Specifically, SMSF artners has prohibited the receipt of: Trips whether overseas or within Australia, Tickets to conferences, sponsorship payments for its conferences from product manufacturers. You have a right to request for further information in relation to the remuneration, the range of amounts or rates of remuneration, and soft dollar benefits received by the licensee and/or authorised representative. We expect that you will use our advice to enable you to make informed financial decisions. We expect that where appropriate you inform your Adviser of any changes that may influence your future objectives. As a financial service provider, we have an obligation under the Anti Money 2

4 Will anyone else be remunerated for referring you to us? In situations where you are referred to us by another person or other professional, we may pay that person or professional a share of the income or fees we have received for referring you to us. If that is the case, we will tell you who will receive that payment and the amount that they may receive. Where applicable, we will advise you of this relationship and the amount to be paid to a referring party in your Statement of Advice. What should I do if I have a complaint? We are committed to providing quality advice to our clients. This commitment extends to providing accessible complaint resolution mechanisms for our clients. If you have any complaint about the service provided to you, you should take the following steps: 1. Contact your adviser and tell your adviser about your concerns. 2. If your complaint is not satisfactorily resolved within 7 days please contact SMSF artners ty Ltd on (07) or put your complaint in writing and send it to us at: The General Manager SMSF artners ty Ltd O Box 1476, Kenmore Qld We will try and resolve your complaint quickly and fairly. rofessional Indemnity Insurance SMSF artners ty Ltd confirms that it has arrangements in place to ensure it continues to maintain rofessional Indemnity insurance in accordance with s.912b of the Corporations Act 2001 (as amended). In particular our rofessional Indemnity insurance, subject to its terms and conditions, provides indemnity up to the required Sum Insured for SMSF artners ty Ltd and our authorised representatives / representatives / employees in respect of our authorisations and obligations under our Australian Financial Services Licence. This insurance will continue to provide such coverage for any authorised representative / representative / employee who has ceased work with SMSF artners ty Ltd for a minimum of 7 years from the date of ceasing the relationship. What information do you maintain in my file and can I examine my file? We maintain a record of your personal profile that includes details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you. If you wish to examine your file, you should ask us and we will make arrangements for you to do so. We are committed to implementing and promoting a privacy policy which will ensure the privacy and security of your personal information. A copy of our privacy policy will be provided upon your request. 3. If we cannot reach a satisfactory resolution, you can raise your concerns with the Financial Ombudsman Service on SMSF artners ty Ltd is a member of this complaints resolution service. The Australian Securities & Investments Commission (ASIC) also has a free call Info line on which you may use to make a complaint or obtain information about your rights. 4. If your concerns involve unethical conduct, you may wish to consider raising these concerns with the Financial lanning Association of Australia (FA). They can be contacted at: O Box 109 Collins Street West, Melbourne VIC For further information visit smsfpartners.com 3

5 What products can our advisers provide advice on? Who is my adviser? As your Adviser, Acquire rivate Wealth and James Griffiths are authorised by SMSF artners to provide financial product advice and deal in the following areas: Superannuation and Retirement lanning Self Managed Superannuation Funds Corporate Superannuation ersonal Superannuation Employer Sponsored Superannuation ensions Reserves Annuities Insurance within Super James Griffiths B.Comm, Dip.FS (F), Cert IV FS Authorised Representative Number: Optima Finance Group ty Ltd t/a Acquire rivate Wealth Corporate Authorised Representative Number: Logan Road Stones Corner QLD 4120 hone Mobile Background and Experience As Managing Director of Acquire rivate Wealth, James has the expertise and understanding to bring each client clarity, direction, consistency and certainty. A specialist SMSF adviser, meticulous attention to detail and the ability to build trust in relationships are James hallmarks. His passion lies in advising clients with self-managed superannuation funds and assisting clients with taking control of their money, increasing their knowledge, minimising their tax and meeting their financial goals for retirement and future family generations. James has also completed a Bachelor of Commerce with a double major in Accounting and Law. Investment Advice Basic Deposit roducts Managed Investments Investor Directed ortfolio Services Master Trusts and Wrap Accounts Direct Shares Managed Investments Risk Insurance All Life roducts To the extent that we authorise a SMSF artners ty Ltd representative to do so, the representative can help you to apply for the financial products referred to in this FSG and can also give you financial product advice in relation to them. If a SMSF artners ty Ltd representative is unable to provide you with a financial service or a financial product that you are interested in, the representative may refer you to another representative who can. 5 4

6 Schedule of Fees Specific fees that relate to services and advice provided to you will be fully detailed in the Statement of Advice. We cannot determine the exact fees at this stage. Therefore the below, is an explanation of the various options of the way we may be remunerated (a combination of these options may be used), the range of fees we may charge and the circumstances in which these may be charged. This is intended to give you an indication of how much you may be charged for the services and advice provided and costs in acquiring a financial product we recommend. All fees outlined below are inclusive of GST. Initial fees and charges Initial Interview The initial interview is charged at a flat fee of $550. Strategy Development Fee A Strategy Development Fee may be charged to analyse your situation, prepare recommendations and is payable on presentation of our recommendations. The amount of this fee, if charged, will be discussed with you prior to the commencement of any work and will be detailed in the Statement of Advice. As an example of this fee the cost is governed by the complexity of the strategy and the value of the financial benefits we may be able to generate for you. The fee for a simple strategy starts from $1,850, however, where more complex requirements exist, we may charge you based on a rate of up to 10% (lus GST) of the estimated financial benefit. For example if we estimate a $100,000 saving, the strategy development fee charged could be up to $11,000. Implementation Fee On completion of the Statement of Advice we will advise you of the total costs to implement our advice and any disbursements that are required to be paid. All fees and charges will be fully detailed in the Statement of Advice you receive. Investment Fees An Investment Fee is payable for the preparation, construction and implementation of our recommendations to you where a financial product is involved. The Investment Fee is calculated on a fee for service basis based on the size of your portfolio on which the advice is being given. Investment Amount Amount First $250, % Above $250, % All fees and charges will be fully detailed in the Statement of Advice you receive. Commission A Commission may be payable when acquiring an insurance or investment financial product. Commission is calculated as a percentage of the insurance premium paid by you or as a percentage of the amount that you invest. This commission will be fully disclosed in the Statement of Advice that we provide to you. Upfront Commission: Insurance products between 11% and 125% of the premium you pay Ongoing Commission: is payable during the life of your financial product as part of the product provider s ongoing charges and can range between: Investment and superannuation products up to 1.1% per annum of the funds invested (deducted from the funds invested) Insurance products up to 20% per annum of the renewal premium. Share Brokerage Fees Brokerage may be payable for the purchase (and sale) of direct shares. The brokerage amount paid is up to $55.00 per trade or 1.1% whichever is the greater. Annual Client Care Service ackages To review and manage your financial situation we have four premium packages that are charged on a monthly basis. These are based on your required level of service, ongoing advice and financial complexity: Sapphire ackage Ruby ackage Emerald ackage Diamond ackage The services included in these packages will be detailed in the Statement of Advice you receive. On-Going fees and charges An On-going review and advice Fee is payable. This is to help ensure your financial strategies and products remain appropriate to your needs. For managed funds including superannuation products, the maximum on-going fee rate that applies is 1.1% per annum. For direct share investments the maximum fee rate 1.1 % per annum. Hourly Rate If agreed upon, an hourly rate of $330 may be charged depending on the specialty of the services. Referrals If you were referred to us by a third party, SMSF artners may forward referral fees to the third party. These amounts do not involve additional costs to you and will be disclosed in your Statement of Advice where applicable. 6 Share in our knowledge. SMSF artners ty. Ltd. ABN AFSL