Financial Planning Services (Australia) Pty Ltd
A guide to our relationship with you and others
The financial services referred to in this guide are offered by:
Damien Palmer on behalf of Financial Planning Services (Australia) Pty Ltd.
Gainsworth Advisory Services
Level 13, 52 Alfred Street
MILSONS POINT NSW 2061
The Financial Services that Damien Palmer offers are provided by:
Financial Planning Services (Australia) Pty Ltd
ABN: 55 010 521 810
Australian Financial Services Licence No. 225982
Suite 17, 21 Nicklin Way, Minyama Qld 4575 Phone: (07) 5477 6300 Fax: (07) 5477 6344
This guide contains important information about:
• the services we offer you
• how we and our associates are paid
• any potential conflict of interest we may have
• our internal and external dispute resolution procedures and how you can access them
When we give you financial advice - a Statement of Advice - we take into account your current financial situation and future needs.
In the Statement of Advice we will tell you about:
our fees and commissions
any associations we have with Financial Product Issuers or other parties.
If we recommend to you a particular Financial Product we will give you information about the particular Financial Product—a Product Disclosure Statement—to help you make an informed decision about the Financial Product.
A guide to our relationship with you and others
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Who is my adviser? |
Your Financial Planner will be Damien Palmer. His Australian Securities and Investments Commission (ASIC) number is 23066. He has over Twelve years experience in the Financial Services Industry, specialising in superannuation planning and retirement strategies. Damien has completed a Bachelors Degree in Business (Accounting) and is a Certified Practicing Accountant (CPA), he also holds a Certificate in Superannuation Management and is a SPAA (SMSF Specialist Advisor). Damien Palmer is an Authorised Representative of Financial Planning Services (Australia) Pty Ltd. If you do not wish to receive our advice, we may deal on your behalf by carrying out your instructions. If you do not obtain advice, you face the risk that the Financial Product/s you select will not fully take into account your objectives, financial situation or needs.
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Who is responsible for the financial services provided? |
Financial Planning Services (Australia) Pty Ltd are responsible for the financial services provided including the distribution of this Financial Services Guide (FSG). Financial Planning Services (Australia) Pty Ltd ABN 55 010 521 810 |
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Do you have any relationships or associations with Financial Product issuers? |
Financial Planning Services (Australia) Pty Ltd has an interest in FPS Portfolio Manager. In addition, Netwealth Investments Limited is a major shareholder of Financial Planning Services (Australia) Pty Ltd. Authorised Representatives of Financial Planning Services (Australia) Pty Ltd receive a rebate of 0.1% on total funds under management with Netwealth Investments Limited. Please note the following entities have provided conference sponsorship in 2006: Grange Securities, WRF Securities, Timbercorp Securities Limited, Macquarie Bank Limited and Real Estate Capital Partners. |
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What kinds of financial services are you authorised to provide me and what kinds of Financial Product/s do those services relate to? |
Damien Palmer is authorised by Financial Planning Services (Australia) Pty Ltd to provide Financial Services in; Please see Attachment 1. * We also provide a portfolio monitoring service
* Financial Product Advice, as authorised, through Australian Financial Services Licence No. 225982. |
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What information should I provide to receive personalised advice? |
You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information, so that we can offer you the most appropriate advice possible. You have the right not to tell us, if you do not wish to. However, if you do not inform us of all your circumstances, the advice you receive may not be appropriate to your needs, objectives and financial situation. You should read the warnings contained in the Statement of Advice carefully before making any decision relating to a Financial product/s. |
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What information do you maintain in my file and can I examine my file? |
We maintain a record of your personal profile including details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you. We are committed to implementing and promoting a privacy policy *, which ensures the privacy and security of your personal information. A copy of our privacy policy is enclosed for your information. If you wish to examine your file please ask us. We will make arrangements for you to do so. * For Privacy Policy of Financial Planning Services (Australia) Pty Ltd see Attachment 2. |
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How can I give you instructions about my Financial Product/s? |
You may tell us how you would like to give us instructions. For example by letter, fax or other means such as e-mail. If we provide you with execution related telephone advice, you may request a record of the execution related telephone advice, at that time or up to 90 days after providing the advice. |
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How will I pay for the services provided? |
You may pay us a fee. Alternatively, we may receive a payment called brokerage, which is paid to us by the Financial Product issuer/s. We will give you a Statement of Advice containing details of our fees and any payments made to us by a Financial Product issuer/s. |
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How are any commissions, fees or other benefits calculated for providing the financial services? |
Generally the payment we receive will be based on the amount you invest. The ongoing fees are a flat percentile dependent on which range you fit: Less than < $500,000 Our fee is 1.1% $500,000 to $1 Million Our fee is 0.88% $1 Million to $1.5 Million Our fee is 0.66% Over $1.5 Million Our fee is 0.55% The placement of investments is charged at 1.1% is charged in addition to this fee. It may vary from one Financial Product issuer to another. Details of the payment we receive are contained in the Product Disclosure Statements for most Financial Product issuers available from your adviser. Your adviser can give you full details. If you receive personal advice from us, we will tell you about any commissions, fees and any other benefits, where possible in actual dollar amounts, in the Statement of Advice. Our adviser will give you this Statement of Advice, before we proceed to act on your instructions. • We may be paid by the Financial Product issuer at the time you invest or contract, and during the life of your investment or contract. • We may charge you a fee, depending on the time we spend developing your strategy, or depending on the value of funds you invest. • We may invoice you for a fee when you receive our written recommendations. • You may have to pay us a management fee annually or in instalments. • We may receive an ongoing payment from the Financial Product issuer. Your adviser will tell you in writing in the Statement of Advice what fees we may charge you, when you have to pay, and what payments we may receive from the Financial Product issuer/s. |
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Will anyone be paid for referring me to you? |
Where you have been referred to us by someone else, if we pay them a fee or commission in relation to that referral, we will tell you in the Statement of Advice who will receive that fee or commission and the amount they will receive. |
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What should I do if I have a complaint? |
1. Contact Damien Palmer about your complaint. Financial Planning Services (Australia) Pty Ltd is committed to the timely and equitable resolution of complaints. 2. If your complaint is not satisfactorily resolved within 20 days, you may choose to address your complaint directly to the Licensee. Please forward your complaint in writing to the Complaints Manager at Financial Planning Services (Australia) Pty Ltd, PO Box 1508, Mooloolaba Qld 4557, including full details of the complaint and copies of documentation, where possible. They have 45 days from receipt of full details of the complaint to investigate the allegation. 3. If the complaint cannot be resolved to your satisfaction at the expiry of the 45 days, then you have the right to pursue the matter with an external complaints resolution body. Financial Planning Services (Australia) Pty Ltd is a member of the Financial Industry Complaints Service (FICS). They can be contacted on 1800 335 405. |
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If you have any further questions about the services Financial Planning Services (Australia) Pty Ltd provides, please contact Damien Palmer on 02 9434 2400.
Retain this document for your reference and any future dealings with Financial Planning Services (Australia) Pty Ltd. |
Attachment 1
Financial Product Advice
Authorised through
Australian Financial Services Licence No. 225982
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1.This Licence authorises the licensee to carry on a financial services business to: (a) provide financial product advice for the following classes of financial products: (i) deposit and payment products including: (A) basic deposit products; (B) deposit products other than basic deposit products; and (C) non-cash payment products; (ii) derivatives limited to: (A) old law securities options contracts; (iii) debentures, stocks or bonds issued or proposed to be issued by a government; (iv) life products including: (A) investment life insurance products; and (B) life risk insurance products; (v) interests in managed investment schemes including: (A) investor directed portfolio services; (vi) retirement savings accounts(“RSA”) products (within the meaning of the Retirement Savings Account Act 1997); (vii) securities; and (viii)superannuation; and (b) deal in a financial product by: (i) applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products: (A) deposit and payment products including: (1) basic deposit products (2) deposit products other than basic deposit products; and (3) non cash payment products; (B) derivatives limited to: (1) old law securities options contracts; (C) debentures, stocks or bonds issued or proposed to be issued by a government; (D) life products including: (1) investment life insurance products; and (2) life risk insurance products; (E) interests in managed investment schemes including: (1) investor directed portfolio services; (F) retirement savings accounts (“RSA”) products (within the meaning of the Retirement Savings Account Act 1997); (G) securities; and (H) superannuation; and (ii) underwriting: (A) interests in managed investment schemes; and (B) an issue of securities;
to retail and wholesale clients.
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Attachment 2
Privacy Policy
Our Commitment
At Financial Planning Services (Australia) Pty Ltd we recognise that your privacy is very important to you – it is to Financial Planning Services (Australia) Pty Ltd as well. Our company handles personal information provided by and about people everyday. By personal information we mean information or an opinion about a person whose identity is apparent or can be reasonably ascertained.
Financial Planning Services (Australia) Pty Ltd are bound by, and committed to, supporting the National Privacy Principles (NPPs) set out in the Privacy Amendment (Private Sector) Act 2000. Our aim is to both support and ensure that we comply with the NPPs that form the basis of laws introduced to strengthen privacy protection for the general public. The information set out below is largely a summary of our obligations under the NPPs.
We believe that this Statement will address any potential concerns you may have about how personal information you provide to Financial Planning Services (Australia) Pty Ltd is collected, held, used, corrected, disclosed and transferred. You can obtain more information on request about the way we manage the personal information we hold. If you seek any further information, please contact us in one of the ways set out below.
Collection
As a financial planning organisation, we are subject to certain legislative and regulatory requirements which necessitate us obtaining and holding detailed information which personally identifies you and/or contains information or an opinion about you (“personal information”). In addition, our ability to provide you with a comprehensive financial planning and advice service is dependent on us obtaining certain personal information about you, including:
(a) employment details and employment history;
(b) details of your financial needs and objectives;
(c) details of your current financial circumstances, including your assets and liabilities (both actual and potential),income, expenditure, insurance cover and superannuation;
(d) details of your investment preferences and aversion or tolerance to risk;
(e) information about your employment history, employment circumstances, family commitments and social security eligibility.
Consequences of Not Providing Information
Failure to provide the personal information referred to above may expose you to higher risks in respect of the recommendations made to you and may affect the adequacy or appropriateness of advice we give to you.
As we are required pursuant to the Corporations Act and Rules of Professional Conduct of the Financial Planning Association of Australia Limited to collect sufficient information to ensure appropriate advice can be given in respect of recommendations made to our clients, if you elect not to provide us with the personal information referred to above, we may elect to terminate our retainer with you if we believe we are unable to provide you with a complete service.
Attachment 2
Privacy Policy
Collection Policies
We will not collect any personal information about you except when you have knowingly provided that information to us or authorised a third party to provide that information to us.
Generally collection of your personal information will be effected in either face to face interviews, over the telephone or by way of an online client engagement form. From time to time additional and/or updated personal information may be collected through one or more of those methods.
We will only collect, maintain and use personal information about you if it is necessary for us to adequately provide to you the services you have requested, including:
(a) the provision of financial planning advice to you;
(b) making securities and investment recommendations;
(c) reviewing your financial plan;
(d) reviewing securities and investment recommendations.
(e) the preparation of your financial plan;
Use & Disclosure
We will not use or disclose personal information collected by us for any purpose other than:
(a) the purposes for which it was provided or secondary related purposes in circumstances where you would reasonably expect such use of disclosure; or
(b) where you have consented to such disclosure; or
(c) where the National Privacy Principles authorise use or disclosure where required or authorised under law, in circumstances relating to public health and safety and in connection with certain operations by or on behalf of an enforcement body.
We are required under the Rules of Professional Conduct of the Financial Planning Association of Australia Limited to make certain information available for inspection by the Association on request to ensure ongoing compliance with mandatory professional standards. This may involve the disclosure of your personal information. We are also obliged pursuant to the Corporations Act to maintain certain transaction records and make those records available for inspection by the Australian Securities and Investments Commission.
We may use the personal information collected from you for the purpose of providing you with direct marketing material such as articles that may be of interest to you, however you may, by contacting us by any of the methods detailed below, request not to receive such information and we will give effect to that request. Please allow 2 weeks for your request to be actioned.
We may disclose your personal information to another financial planner during periods when this office is unattended or closed so that you can be assured of receiving a continued service.
We may disclose your personal information to superannuation fund trustees, insurance providers, and product issuers for the purpose of giving effect to your financial plan and the recommendations made by us.
Attachment 2
Privacy Policy
In order to ensure that you receive a personal and tailored service, your personal information may be transferred to one of our agents or authorised representatives who will be your primary point of contact with the organisation. It is a condition of our agreement with each of our representatives and external contractors that they adopt and adhere to this privacy policy. You can be assured that your information will be maintained by any agent or representative in accordance with this policy. If you have any concerns in this regard, you should contact us by any of the methods detailed below.
In the event that we propose to sell our business we may disclose your personal information to potential purchasers for the purpose of them conducting due diligence investigations. Any such disclosure will be made in confidence and it will be a condition of that disclosure that no personal information will be used or disclosed by them. In the event that a sale of our business is effected, we may transfer your personal information to the purchaser of the business. As a client you will be advised of any such transfer.
Document Storage and Security and Policy Practices
Your personal information is generally held in your client file. Information may also be held in a computer database.
We will at all times seek to ensure that the personal information collected and held by us is protected from misuse, loss, unauthorised access, modification or disclosure. At all times your personal information is treated as confidential and any sensitive information is treated as highly confidential. All paper files are stored in lockable cabinets which are locked out of hours. All record movements off premises are recorded in a central register. Access to our premises is controlled by allowing only personnel with security passes to access the premises. All computer based information is protected through the use of access passwords on each computer and screen saver passwords. Data is backed up each evening and stored securely off site.
In the event you cease to be a client of this organisation, any personal information which we hold about you will be maintained in a secure off site storage facility for a period of 7 years in order to comply with legislative and personal requirements, following which time the information will be destroyed.
Access to Your Personal Information
You may at any time, by contacting us by any of the methods detailed below, request access to your personal information and we will (subject to the following exceptions) provide you with access to that information, either by providing you with copies of the information requested, allowing you to inspect the information requested or providing you with an accurate summary of the information held. We will, prior to providing access in accordance with this policy, require you to provide evidence of your identity.
We will not provide you with access to personal information which would reveal any confidential formulae or the details of any in-house evaluative decision making process, but may instead provide you with the result of the formulae or process or an explanation of that result.
Attachment 2
Privacy Policy
We will not provide you with access to your personal information if;
(a) providing access would pose a serious threat to the life or health of a person;
(b) providing access would have an unreasonable impact on the privacy of others;
(c) the request for access is frivolous or vexatious;
(d) the information related to existing or anticipated legal proceedings between us and would not be discoverable in those proceedings;
(e) providing access would reveal our intentions in relation to negotiations with you in such a way as to prejudice those negotiations;
(f) providing access would be unlawful;
(g) denying access is required or authorised by or under law;
(h) providing access would be likely to prejudice certain operations by or on behalf of an enforcement body or an enforcement body requests that access not be provided on the grounds of national security.
In the event we refuse you access to your personal information, we will provide you with an explanation for that refusal.
Access and Protection Policies and Procedures
We will endeavour to ensure that, at all times, the personal information about you which we hold is up to date and accurate. In the event that you become aware, or believe, that any personal information which we hold about you is inaccurate, incomplete or outdated, you may contact us by any of the methods detailed below and provide to us evidence of the inaccuracy or incompleteness or outdatedness. We will, if we agree that the information requires correcting, take all reasonable steps to correct the information.
If we do not agree that your personal information requires correcting, we must, if you request, take reasonable steps to ensure that whenever your personal information is accessed or handled in the future, it is apparent that you are not satisfied as to the accuracy or completeness of that information.
We will endeavour to respond to any request for access within 14-30 days depending on the complexity of the information and/or the request. If your request is urgent please indicate this clearly.
Complaints Resolution
If you wish to complain about any breach or potential breach of this privacy policy or the National Privacy Principles, you should contact us by any of the methods detailed below and request that your complaint be directed to the Privacy Officer. Your complaint will be considered within 7 days and responded to. It is our intention to use our best endeavours to resolve any complaint to your satisfaction, however, if you are unhappy with our response, you are entitled to contact the Office of the Privacy Commissioner who may investigate your complaint further.
Attachment 2
Privacy Policy
Cookies
If information is collected in an online environment, the following additional matters should be incorporated into the privacy policy or, in the event the online collection relates to different information, it may be appropriate to develop a separate online privacy policy.
Financial Planning Services (Australia) Pty Ltd’s Web site contains links to other Web sites whose operator may or may not adhere to a privacy policy or be governed by the National Privacy Principles.
While it is not necessary to register your personal details to use our Web site, we do offer a registration service which will enable you to receive product and service updates, newsletters and other information. In the event you do register with us, we will collect personal information from you including your name and e-mail address.
If you have registered with us and decide, at any time, that you do not wish to receive any further information from us, you can send an e-mail to the e-mail address noted below requesting to be removed from our online registration database. Please allow 2 weeks for your request to be actioned.
You may amend or update your registration details by sending an e-mail to the e-mail address noted below providing your amended details. Please allow 2 weeks for your request to be actioned.
Our Web site uses cookies which allow us to identify your browser while you are using our site. Cookies do not identify you, they simply allow us to track usage patterns so that we can measure the level of interest in various areas of our site. All browsers allow you to be notified when you receive a cookie and elect to either accept it or not. Your Internet Service Provider should be able to assist you to set your preference.
Contact Details
Privacy Officer: Darren Wise Managing Director
Address: Suite 17, 21 Nicklin Way, Minyama, Qld, 4575
Telephone: (07) 5477 6300
Facsimile: (07) 5477 6344
Email: darren.wise@fpsa.com.au