Template FSG

WARNING: This template has been provided as a sample only. This template remains the property of Licensee Solutions Pty Ltd. The use of this template is at your own risk. You must carefully consider the requirements and your own circumstances,and then produce your own document to ensure it is customised for your own circumstances.

Financial Services Guide

1.INTRODUCTION

This Financial Services Guide (FSG) is effective [date] and has been issued by [Name of licensee], AFS Licence [insert licence number], ACN [insert ACN].

This FSG is an important document which we are required to give to you as an Australian Financial Services (AFS) Licensee. This FSG is designed to inform you of:

  • who we are and how we can be contacted;
  • what services and types of products we are authorised to provide to you;
  • how we and any other relevant parties are remunerated;
  • any potential conflict of interest we may have; and
  • our internal and external dispute resolution procedures and how you can access them.

This FSG is designed to assist you in determining whether to use any of our services. If you choose to use any of our services, you may also receive other documents relating to the services or products which you should read carefully.

2.INFORMATION ABOUT [Name of licensee] AND YOUR ADVISER

insert brief summary of the licensee>

Your adviser is authorised by [Name of licensee] to provide financial services to you. We will act on your behalf unless [Name of licensee] tells you otherwise.

We can be contacted on:

insert phone number, email address, street and postal address>

3.OUR FINANCIAL SERVICES AND FINANCIAL PRODUCTS

[Name of licensee] is authorised to arrange to deal in interests in self-managed superannuation funds and provide financial product advice in the following financial products on behalf of retail and wholesale clients:

  • Self-managed Superannuation Funds
  • A person's existing superannuation

[Name of licensee] is also authorised to provide class of product advice to retail and wholesale clients on:

  • Superannuation
  • Securities
  • Simple managed investment schemes
  • General insurance products
  • Life risk insurance products; and
  • Basic deposit products.

When providing these services to you, we will act on your behalf. [Name of licensee] is not authorised to provide any other services including:

  • banking services;
  • loan facilities;
  • financing arrangements;
  • legal advice;
  • real estate services; and
  • discretionary trading.

4.OTHER DOCUMENTS YOU MAY RECEIVE

In providing advice to you, we may seek to obtain and consider information about your needs, objectives and personal circumstances. You are not obliged to provide us with all or any of the information we request from you. However, if you provide us inaccurate or incomplete information you risk acquiring financial products or financial services that are not appropriate for you and you may experience financial detriment or losses.

If the information that you intend to provide us is either incomplete or inaccurate in any way you must inform us of that fact at the time of providing the information. In turn, we are obliged to provide you with a warning to the effect that, in these circumstances, the onus is upon you to consider the appropriateness of the advice before acting upon the advice.

When you receive personal advice from us, you are entitled to receive a Statement of Advice (SOA). The SOA will contain the advice and why we believe the advice is appropriate; the fees, commissions and benefits that we may receive in relation to the advice, and if you act on the advice, details of any interests, relationships or associations that may be capable of influencing the advice we give you.

We may provide you "further" advice sometime after providing you the SOA. Where we provide further advice and there has been no significant change to your personal circumstances, needs or objectives, or the basis of the advice we provide, we will not provide you with an SOA, but we will create a record of that advice (ROA). If you would like a written copy of the ROA you have a right to request a copy of the ROA from [Name of licensee] for a period of up to 7 years from the time of advice.

When we make a recommendation to acquire a particular financial product (other than securities) or offer to issue or arrange the issue of a financial product, we will provide you with a Product Disclosure Statement. This document contains significant information necessary for you to make an informed decision about that product.

5.PROVIDING INSTRUCTIONS TO [Name of licensee]

You can give us instructions by telephone, mail, email, fax or via our website. However, we generally require instructions to be confirmed in writing.

6.RISKS ABOUT FINANCIAL PRODUCTS OR STRATEGIES RECOMMENDED

Please be aware that there are inherent risks associated when investing in financial markets which may adversely affect the value of your investment. Your adviser will explain to you and fully outline in the SOA any significant risks of the financial products and strategies that are recommended to you. If you feel that you need further clarification, please do not hesitate to ask your adviser.

7.INFORMATION ABOUT OUR REMUNEREATION STRUCTURE

For services provided to you, we are remunerated by way of fee for service, commissions or a combination of fee for service and commissions. We offer you the flexibility to select the fee payment method most suitable to you.

Due to the varying nature of individual client cases, we typically have an initial consultation with you to obtain specific information regarding your personal circumstances in order to identify services that are suitable for you and to assess the merits of working together to meet your needs. This initial consultation is free of charge but you should not act on any representations that may be made during the initial consultation as we do not usually have all the information that we need to provide you with appropriate advice.

We will discuss with you the most suitable ongoing review service for your personal circumstances and the fee structure applicable prior to commencing any work. Note that all fees quoted are GST inclusive.

7.1.Fee for service

Include details of remuneration structure

7.2.Upfront and trail commissions

Include details of remuneration structure

7.3.Adviser’s share in remuneration

Our employees and directors receive salaries, commission, bonuses and other benefits from us. Your adviser may also share in up to X% of the total revenue received by [Name of licensee] in respect of financial product and financial services referred to in the preceding paragraphs.

7.4.Volume bonus

Include details of remuneration structure

7.5.Non-monetary benefits received

From time to time, [Name of licensee] may receive other non-monetary benefits in the form of conference travel and accommodation, or indirect benefits such as lunches, tickets to events, corporate promotional merchandise, stemming from financial product issuers whose products you may acquire or hold. Details of benefits above AUD$100 will be maintained on a Register by [Name of licensee]. [Name of licensee] will not receive benefits over AUD$300.

If you wish to receive further information regarding the fees, charges and other benefits received by [Name of licensee] please contact your adviser and they will provide the relevant information to you.

7.6.Referral fee

Where you have been referred to [Name of licensee], [Name of licensee] may pay a referral fee. Where a referral fee is paid, details will be disclosed to you at the time the advice is provided to you and will be recorded in the relevant SOA and ROA.

8.RELATIONSHIPS WITH ASSOCIATED PARTIES

[Name of licensee] and your adviser are not associated with any financial institutions. However, [Name of licensee], its directors, employees, related entities and associates may have material interests in the financial products recommended to you. Where such a circumstance arises this will be disclosed to you at the time the advice is provided to you and will be recorded in the relevant SOA and ROA.

[Name of licensee], its representatives and associates may have an interest in investments recommended to you. Where it is material, this will be disclosed to you at the time of making a recommendation.

9.PRIVACY STATEMENT

At [Name of licensee] the privacy of your personal information is important to us. Any personal information collected will be handled in accordance with our Privacy Policy.

Our Privacy Policy details how we comply with the requirements of the Privacy Act in the handling of your personal information. A copy of that policy can be obtained by visiting our website at <insert website>.

10.COMPLIANCE WITH AML/CTF REQUIREMENTS

As a financial services provider, we have obligations under the Anti-Money Laundering and Terrorism Financing Act to verify your identity before we can provide you with financial services. Your adviser will let you know what documentation you will need to present to satisfy the client identification requirements.

11.Complaints Handling

[Name of licensee] is committed to providing a high standard of client service and to maintaining its reputation for honesty and integrity. If our level of service or quality of products has failed to meet your expectations we would like you to tell us about your concerns.

[Name of licensee]’s complaint handling process is designed to ensure that your concerns are treated seriously and that your complaint is addressed promptly and fairly. Your complaint should be lodged in writing and it will be dealt with in strict confidence.

If you have a complaint about the service provided to you, you should take the following steps:

  1. Firstly, contact [Name of licensee]’s Complaint's Officer at:

insert contact details>

  1. If after [Name of licensee] has reviewed and responded to your complaint, you are still not satisfied with the outcome, you can lodge a complaint with the Financial Ombudsman Service Limited (FOS). Its contact details are as follows:

Financial Ombudsman Service

GPO Box 3

Melbourne VIC 3001

Tel: 1300 78 0808

Fax: 03 9613 6399

OR

Credit Ombudsman Service

PO Box A252

Sydney South NSW 1235

Tel: 1800 138 422

  1. The Australian Securities and Investment Commission’s (ASIC) website also contains useful information in relation to complaints pertaining to companies and people and types of complaints handled by ASIC. To obtain further information, contact the ASIC Infoline 1300 300 630 or at

12.Compensation arrangements

In accordance with section 912B of the Corporations Act 2001, [Name of licensee] has professional indemnity insurance in place which covers the work done for it by its representatives and employees.