Financial Services and Credit Guide Version 11: October, 2013
Helping our clients to be financially well organised and to achieve and maintain financial independence BRAND GUIDE: Focused Financial Advice COLOUR
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 USAGE Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial LOGO Services and Australian Credit Licensee Licence No. 286219 ARTWORK LOGO ARTWORK
Financial Services and Credit Guide
Why am I receiving this document? This Financial Services and Credit Guide (FSCG) is an important document which we are required to provide as a condition of our Australian Financial Services Licence (AFSL) and our Australian Credit Licence (ACL). The purpose of this guide is to convey the following important information which you need to know before receiving any financial or credit services from us: Contents Page Get to know Focused Financial Advice
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What services do we provide?
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About your financial adviser, Rob Wynan
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What advice we can provide
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The financial advice process
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Our advice fees and any commissions we receive
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Any conflicts of interest which may impact the services
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Who to contact, should you have a complaint
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Privacy 8 When we provide you with services you may receive: • A Financial Plan - Statement of Advice (SoA) or Record of Advice (RoA) which documents the financial services advice we provide to you. •
A Product Disclosure Statement (PDS) which explains the financial products we have recommended.
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A Credit Proposal or Credit Quote which documents the credit assistance we provide to you.
• An annual Fee Disclosure Statement (FDS) which documents the fees paid and services you have received in the preceding 12 months. Get to know Focused Financial Advice Focused Financial Advice Pty Ltd (Focused Financial Advice) is an independently owned financial services firm, providing professional financial guidance, advice and services to our clients. Focused Financial Advice holds its own Australian Financial Services Licence and Australian Credit Licence (number 286219) which have been issued by the Australian Securities and Investments Commission (ASIC). Focused Financial Advice is also licensed to arrange finance under the National Consumer Credit Protection Act 2009 (Cth.). This Act regulates the activities of lending, leasing and finance broking. Focused Financial Advice is owned and managed by Rob Wynan and is an accredited Professional Practice the Financial Planning Association of Australia (FPA) and a member of the Mortgage & Finance Association of Australia (MFAA). As a licensee we are required to comply with the obligations of the Corporations Act and the conditions of our licence. This includes the need to have compensation arrangements in place with a Professional Indemnity insurer. BRAND GUIDE: Focused Financial Advice
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 2
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Financial Services and Credit Guide
What services do we provide? Focused Financial Advice holds licences to provide a comprehensive range of services (to both retail and wholesale clients) which include: •
Investment advice including shares and managed funds.
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Margin lending, mortgage advice and other credit assistance.
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Superannuation and SMSF advice.
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Retirement planning advice.
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Aged care financial advice.
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Personal insurance advice.
About your financial adviser
Rob Wynan B. Bus. (Accg/Comp), CPA, CTA, Dip MB, Dip FP, CFPTM Rob Wynan is the Principal and Director of Focused Financial Advice. Rob has over 36 years of experience in financial services including over 14 years’ experience as a Financial Adviser. He has a background spanning 22 years in accounting, financial analysis and tax, both in public practice and in corporations. Rob’s specialist accreditations and qualifications include: - Bachelor of Business (Accounting/Computing); Certified Practising Accountant; Chartered Tax Adviser; Diploma of Mortgage Broking; Diploma of Financial Planning; and full member and Certified Financial Planner, FPA.
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Rob Wynan has been our financial adviser since March 2000. Rob’s passion for financial planning, and his professional and personal care and attention, both to our investments and to us as people, have seen us become long term friends as well as long term clients. I recommend Rob to any potential client as a decent, trustworthy and extremely knowledgeable Financial Planner who really does put his clients first. Paul and Elaine, VIC
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BRAND GUIDE: Focused Financial Advice
COLO
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 3
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Financial Services and Credit Guide
What advice we can provide We can provide you with tailored financial advice based on your financial needs, lifestyle goals and objectives. We offer financial advice services that comprise five distinct functions: 1. Personalised financial advice. 2. Purchase and placement of investments. 3. Credit advice including arranging or restructuring loans. 4. Purchase and placement of insurance. 5. Ongoing advice and portfolio reviews. Personalised financial advice Depending upon your needs and requirements, our personalised financial advice may cover any or all of the following matters: 1. Determination of an investment strategy, after reviewing your lifestyle goals and financial objectives, risk profile and current (and foreseeable) financial circumstances. 2. Preparing projections of assets, liabilities and cash flow (including projected income) in accordance with a proposed investment strategy. 3. Recommending specific investments and projected investment returns. 4. Analysis of investment/financial strategy alternatives (if appropriate) including savings strategies, debt reduction or debt management strategies, gearing strategies (including negative gearing), retirement strategies, etc. 5. Analysis of credit position and recommendation of credit strategies including mortgages, reverse mortgages, borrowing, margin lending; and the analysis of credit and/or credit-related products. 6. Salary packaging analysis. 7. Superannuation and retirement planning analysis. 8. Aged care analysis including maximising government entitlements and minimising aged care fees. 9. Death, TPD, trauma, income protection and business insurance coverage analysis. 10. Reviewing your estate planning issues including Wills, testamentary trusts, basis of ownership of investments and potential use of family trusts. All the above matters are considered in light of your circumstances and referral is made to appropriately qualified accountants, and solicitors for the necessary tax and legal advice. Purchase and placement of investments Financial advice usually includes recommended investments. With your approval, we arrange for the placement of those investments.
BRAND GUIDE: Focused Financial Advice
COLO
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 4
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Financial Services and Credit Guide
Credit advice including arranging or restructuring loans We can assist you in making the choice of a loan or lease that is suitable for your purposes. We will provide you with information on a broad range of finance providers and loan products. Once you have chosen a loan or lease that is suitable for you, we will assist in obtaining approval for the finance. We source finance products from a panel of finance providers. Purchase and placement of insurance Depending on your requirements, we may conduct a full analysis of your need for death, TPD (Total and Permanent Disability), trauma, income protection, living expenses, key person and business expense cover, given your financial and personal circumstances. We will also make specific insurance policy recommendations if necessary. With your approval, we will arrange for the purchase and placement of insurance. Ongoing advice and portfolio reviews You may wish to utilise our ongoing service regarding your portfolio. That service includes: 1. Ongoing financial advice when and as required. This may include the preparation of a new financial plan to accommodate a major change in your circumstances (e.g. entering retirement, receipt of a substantial inheritance, etc.). 2. Provision of portfolio review reports on a six monthly or annual basis. 3. Continued portfolio management. This includes a regular review of the appropriateness of each investment; determination of any changes to individual investments; and recommendation of any proposed changes to asset allocation and/or investment strategy. It also includes a review of loan arrangements – as appropriate. 4. Portfolio rebalancing in accordance with the pre-determined asset allocation for you. This ensures that the required risk profile of a portfolio is retained. The rebalancing process may also help improve the portfolio’s rate of return by selling investments that have become overvalued (in terms of the portfolio’s specified level of exposure to those investments) and purchasing investments that may have become undervalued. This reflects the classic investment strategy of selling investments when they are expensive and buying when they are cheap. 5. Reorganising and restructuring your investment portfolio, as needed, to improve your portfolio’s efficiency as a whole. 6. We review the economic environment, investment markets, and changes to government policy and legislation. Our advice takes account of these changes. All the above matters are considered in light of your circumstances and referral is made to appropriately qualified accountants and solicitors for the necessary tax and legal advice.
BRAND GUIDE: Focused Financial Advice
COLO
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 5
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Financial Services and Credit Guide
The financial advice process Everyone is different, with different circumstances, needs and goals. We treat every client as an individual, but follow a defined process to make sure our clients receive comprehensive financial advice and guidance, and that they know what to expect from us.
Identifying where you want to be
> Opportunities and risks
At our first appointment we help you identify your financial and lifestyle goals and explain the services we offer to help you achieve them. We will help you identify the range of issues that need to be addressed to meet your goals. You can then decide whether you want our advice to meet a single need or a broad range of issues. Good personal advice starts with having an understanding of your current situation. We take a close look at your current financial situation – assets, debts, income, expenses and insurance, and explore the options you could use to reach your goals.
> Bridging the gap
Based on our discussions with you and the research we have conducted, we will recommend a personalised strategy to bridge the gap between where you are now and where you want to be. We will discuss our strategy at a second meeting and explain the opportunities and risks of the various options.
> Bringing your plan to life
We work closely with you to implement your Financial Plan – Statement of Advice and/or Credit Proposal. We help you to complete any necessary paperwork and are available to attend meetings with your accountant, solicitor and general insurer so that your strategy is implemented efficiently.
> Staying on track with regular ongoing advice
As time goes on, circumstances and needs change. The final step in our advice process ensures your financial plan remains on track by providing you with regular ongoing advice. We design an ongoing service programme to ensure your plan remains up to date as your life changes so that you can obtain the benefits of ongoing reliable advice.
Sometimes, life takes us in unplanned directions. When you need extra advice on top of our initial or ongoing advice, just ask us to provide you with some additional advice. We are there to help you – whatever the occasion.
BRAND GUIDE: Focused Financial Advice
COLO
The ic layer o be ch
Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 6
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Financial Services and Credit Guide
When we first provide advice to you it will be explained thoroughly and documented in a Financial Plan – SoA or Credit Proposal which you can take away and read. The document will explain the basis for the advice, the cost to you of implementing the advice and any commissions or associations which could have influenced the advice. We will also provide you with a Product Disclosure Statement. This contains information to help you understand each product being recommended. At all times you are able to contact us and ask questions about the advice and products recommended. You can provide instructions to us in writing, via phone or via email. Please note you are responsible for ensuring your instructions do however reach us. We may provide further advice to you to keep your financial plan up to date for changes in your circumstances, changes in the law and changes in the economy and products. The further advice we provide will be dependent on the terms of the Ongoing advice agreement you sign with us. It will typically be documented in a Record of Advice. Our advice fees and any commissions we receive All fees are payable to Focused Financial Advice Pty. Ltd. Rob Wynan is paid a salary by Focused Financial Advice and receives the profits of the business. Your first meeting with us is complimentary and obligation free.
Initial advice fee The initial advice fee comprises 2 components. Firstly, a plan preparation fee (or credit proposal fee) that includes all meetings with you, the time we take to determine our advice and the production of the Financial Plan Statement of Advice (or Credit Proposal). This fee is based on the scope and complexity of advice provided to you. We will agree the fee with you at our first meeting. Secondly, an implementation of advice fee is payable if you decide to proceed with our advice based on a fee for the time we spend assisting you with implementation. We will let you know what the fee will be in the Financial Plan - Statement of Advice (or Credit Proposal).
Ongoing advice fee Once your investments are established we may meet with you periodically to provide performance reports and update our advice. The updates will consider the latest investment research from industry experts, changes in legislation, new products available in the market and any changes to your personal circumstances. Ongoing fees will depend on what ongoing service are provided, and may be either an agreed fixed fee or based on an hourly rate. The services and fees will be set out in the Financial Plan - Statement of Advice (or Credit Proposal) that we provide to you.
Commissions Focused Financial Advice receives commissions from some product providers. The commission amount will vary depending on the product which is recommended. We will tell you the exact amount in the advice document we provide to you. BRAND GUIDE: Focused Financial Advice
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 7
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Financial Services and Credit Guide Investment commissions We may receive a monthly commission payment from some investment providers. These will be based on your account balance and will continue to be paid for as long as you hold the product.
Insurance and loan commissions We may receive a one-off upfront commission when you take out an insurance policy or loan we recommend. We also receive a monthly commission payment for as long as you continue to hold the policy or loan.
Licensee commission Some product providers may pay an additional licensee commission. This is based on the total funds invested in their products or the total insurance premiums for their policies across our entire client base.
Referral fees and commissions In some situations we receive fees or commissions where we refer you to external parties. We will disclose the referral arrangements to you whenever we refer you to an external party. In some situations we pay fees or commissions to external parties who have referred you to us. We will disclose the referral arrangements to you when we provide you with a Financial Plan - SoA or Credit Proposal. Any conflicts of interest which may impact the services Focused Financial Advice at all times acts in the best interest of the client, ahead of any interest it may hold itself, as part of its fiduciary obligation. Who to contact, should you have a complaint We endeavour to provide you with the best advice and service at all times. If you are not satisfied with our services then we encourage you to contact us. Please call us or put your complaint in writing to our office. If you are not satisfied with our response you can refer it to the Financial Ombudsman Service (FOS).You can contact FOS on 1300 780 808. This service is provided to you free of charge. Privacy We maintain a record of your personal information that includes details of your objectives, financial circumstances and needs. We also maintain a record of the recommendations we make. If you wish to examine your file, you should ask us and we will make arrangements for you to do so. We will only disclose information about you: •
To product providers we recommend and you agree to use.
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Where the law requires us to do so.
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If you consent for us to do so.
Focused Financial Advice has a privacy policy for your personal information. You can ask us for a copy if you would like further information. BRAND GUIDE: Focused Financial Advice
COLO
The ic layer o be ch
Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] W: www.focusedadvice.com.au Australian Financial Services and Australian Credit Licensee Licence No. 286219 Page 8
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Financial Services and Credit Guide
We’re focused on you! www.focusedadvice.com.au
BRAND GUIDE: Focused Financial Advice
Credit Licensee
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Dip FP CFP®
The icon/emblem is made up of a multipied layer of overlapping colours, These must not be changed.
Nest NSW 2065 BRAND GUIDE: Focused Financial Advice
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Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: (02) 9003 0611 E:
[email protected] Suite 105, 84 Alexander Street, Crows Nest NSW 2065 T: Advice (02) 9003 E:
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