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Financial Services Guide Share in our knowledge. Dated 10 May 2013 Version 1
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Financial Services Guide
Share in our knowledge.
Dated 10 May 2013 Version 1
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
This FSG provides you with information about SMSF Partners Pty Ltd and Acquire Private Wealth Pty 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 Partners Pty Ltd authorises the distribution of this FSG.
If you choose to use our services you may also receive from us a Product Disclosure Statement (PDS), 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 PDS. The PDS 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. Personal 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 Product List.
We will not provide advice on classes of financial products other than those identified in SMSF Partners Pty Ltd AFS Licence.
Personal financial product advice is advice that takes into account one or more of your objectives, financial situation and needs.
Contents
Page
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?
3. What should I do if I have a complaint?
3. Professional 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 Partners and your adviser?
SMSF Partners Pty Ltd (ABN 28 140 520 225) 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 Partners”.
SMSF Partners Pty Ltd appoints Authorised Representatives to act on its behalf for the provision of authorised financial services through SMSF Partners. SMSF Partners Pty Ltd as the Australian Financial Services licensee is therefore responsible for the financial services provided by its Authorised Representatives through SMSF Partners.
Details of your Adviser can be viewed in the “Adviser Profile” 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 Profile”. We are not responsible for any unauthorised services to the extent permitted by the law.
How you can contact us
You can contact us by:
• Callinguson0733631234
• Sendingusafaxon0733631244
• Visitingourwebsitesmsfpartners.com
• Writingtousat,POBox1476Kenmore,QLD40691
What financial services are we authorised to provide and how will we provide these services to you?
SMSF Partners can offer financial services that cover the following areas:
• AdviceonSelfManagedSuperannuationFunds(SMSF)
• Adviceonstructuringyourassets,investmentsandsuperannuationfortax effectiveness and flexibility
• Riskmanagementandprotectionofassets
• Adviceonwealthcreationandcashflow management strategies
• ProvideestateplanningadvicethroughtheuseofSMSFWills
• Administrationofandreportingofyourinvestmentsincludingperformance and asset allocation
• Regularreviewofyourselfmanagedsuperannuation 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 Partners can provide advice and arrange transactions in the following class of financial products:
• Superannuation,includingAllocatedPensions,Rollovers,PersonalSuperannuation, Company Superannuation and Self Managed Superannuation Funds;
• DepositandPaymentProducts;
• LifeInsuranceProducts,includingAnnuities,TermInsurance,IncomeProtection, Trauma and Total and Permanent Disability Insurance.
Your adviser can only provide advice on financial products within SMSF Partners “Approved Product and Services Lists” that they are authorised to by SMSF Partners Pty Ltd.
The Approved Product 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 Profile.
How can you communicate instructions to us?
You may specify how you would like to give us instructions. For example, by telephone, fax, email 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.
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
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:
• Afeebasedonthetimeandvaluecreatedindevelopingyourplan
• Afeebasedonthetimeandvaluecreatedinimplementingyourplan
• Anagreedfeepaidannuallyorbyinstalments
• Acombinationofanyoftheaboveoptions.
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 Product providers.
ItisimportanttonotethatinSection911CoftheCorporationsActitprohibits 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 Partners Pty 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 Partners Pty 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 Partners 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 Partners staff, advisers and member firms from receiving incentives it feels have a real potential to influence recommendations. Specifically, SMSF Partners has prohibited the receipt of:
• TripswhetheroverseasorwithinAustralia,
• Ticketstoconferences,
• sponsorshippaymentsforitsconferencesfromproductmanufacturers.
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.
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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. Ifyourcomplaintisnotsatisfactorilyresolvedwithin7dayspleasecontactSMSFPartnersPtyLtdon(07)33631200orputyourcomplaintin writing and send it to us at:
The General Manager SMSF Partners Pty Ltd POBox1476,KenmoreQld4069.
We will try and resolve your complaint quickly and fairly.
3. If we cannot reach a satisfactory resolution, you can raise your concerns withtheFinancialOmbudsmanServiceon1300780808.SMSFPartnersPty Ltd is a member of this complaints resolution service. The Australian Securities & Investments Commission (ASIC) also has a free call Info lineon1300300630whichyoumayusetomakeacomplaintorobtaininformation about your rights.
4. If your concerns involve unethical conduct, you may wish to consider raising these concerns with the Financial Planning Association of Australia (FPA). They can be contacted at: POBox109CollinsStreetWest,MelbourneVIC8007.
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For further information visit smsfpartners.com
Professional Indemnity Insurance
SMSF Partners Pty Ltd confirms that it has arrangements in place to ensure it continues to maintain Professional Indemnity insurance in accordance withs.912BoftheCorporationsAct2001(asamended).InparticularourProfessional Indemnity insurance, subject to its terms and conditions, provides indemnity up to the required Sum Insured for SMSF Partners Pty 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 PartnersPtyLtdforaminimumof7yearsfromthedateofceasingtherelationship.
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.
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James Griffiths B.Comm, Dip.FS (FP), Cert IV FS Authorised Representative Number: 344208
Optima Finance Group Pty Ltd t/a Acquire Private Wealth CorporateAuthorisedRepresentativeNumber:344207
433 Logan Road StonesCornerQLD4120
Phone1300616695 Mobile0410538910 [email protected] www.acquireprivatewealth.com.au
Background and Experience As Managing Director of Acquire Private 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.
Who is my adviser?
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What products can our advisers provide advice on?
As your Adviser, Acquire Private Wealth and James Griffiths are authorised by SMSF Partners to provide financial product advice and deal in the following areas:
Superannuation and Retirement Planning
Self Managed Superannuation Funds P
Corporate Superannuation P
Personal Superannuation P
Employer Sponsored Superannuation P
Pensions P
Reserves P
Annuities P
Insurance within Super P
Investment Advice
Basic Deposit Products P
Managed Investments P
Investor Directed Portfolio Services Master
Trusts and Wrap Accounts
P
Direct Shares P
Managed Investments P
Risk Insurance All Life Products P
To the extent that we authorise a SMSF Partners Pty 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 Partners Pty 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.
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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% (Plus 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 $250,000 2.2%Above $250,000 1.1%
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:
•Investmentandsuperannuationproducts–upto1.1%perannumofthe funds invested (deducted from the funds invested)
•Insuranceproducts–upto20%perannumoftherenewalpremium.
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 Packages
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 Package
Ruby Package
Emerald Package
Diamond Package
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 Partners 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.
