Financial Services Guide

Transcription

1 BW CAPITAL MELBOURNE PTY LTD Authorised Representative of BW Capital Pty Ltd Financial Services Guide Statement of Purpose BW Capital Melbourne Pty Ltd AFS Authorised Representative No is a representative of and offers services on behalf of BW Capital Pty Ltd Australian Financial Services Number: ABN: Australian Financial Services Licence No ABN Howitt Street South Yarra VIC 3141 Ph: Fax: BW Capital Pty Ltd holds an Australian Financial Services License issued by the Australian Securities and Investments Commission ( ASIC ). It is a condition of this license that BW Capital provides you with this Financial Services Guide ( FSG ). This FSG outlines relevant information on the advice, products and services that BW Capital provides to its clients. You have the right to ask BW Capital s representatives about our charges, the type of advice we will give you, and what you can do if you have a complaint about our services. This information is detailed in this document. If you need more information or clarification please contact us. This document should be read in conjunction with the terms of engagement letter we provided to you. Our services Our financial services focus on strategic planning advice, implementation and financial services to private client and corporate bodies. We do not have any exclusivity arrangements with investment or insurance product originators. We act as impartial advisors at all times and seek to partner our clients in their wealth protection and management. Our core range of services include: Strategic wealth management advice Investment portfolio planning and management Risk management and insurance product selection Superannuation and retirement advice Estate planning advice In order for us to provide advice which is appropriate to your personal circumstances, you will be asked to provide certain detailed personal information about your financial circumstances and

2 objectives. We will recommend financial options, choices and products that are suitable to your particular financial situation, needs and objectives based on the information you provide. You should ensure that your advisor becomes aware of any changes that may be relevant when advice is given in the future. In addition to our initial advisory services we provide our clients with various ongoing advice, management and review services. These services include a regular review of strategies and financial products chosen, in line with changes in your objectives, needs and financial position as well as taking account of changes in the economic and global capital market environment. BW Capital Pty Ltd has an unrestricted Australian Financial Services Licence, which allows us to provide advice on the following classes of Financial Products: Deposit and payment products including basic deposit products, deposit products other than basic deposit products, and non-cash payment products Derivatives Foreign exchange contracts Debentures, stocks or bonds issued or proposed to be issued by a government. Interests in managed investment schemes Retirement savings accounts products Securities Superannuation Miscellaneous financial investment products Fees The fees we charge for our consulting and advisory services are dependent on the nature and extent of services you wish to engage us to deliver. The fee we charge for such work is based on our normal hourly rates and is directly related to the time estimated to complete. We will agree with you by way of an initial terms of engagement letter the exact scope and deliverables of such work, as well as the quantum of fees payable before proceeding. In addition to any fee we directly invoice you BW Capital may also receive commission payments from third party product providers. We will ensure you fully understand the nature of any such commissions before proceeding with any related contract or product applications.

3 When you engage us to provide implementation services and/or ongoing advice, review and investment management services we will detail the precise scope and deliverables of such arrangements in an ongoing terms of engagement letter. This letter will set out the exact fees and charges we levy with respect to any such services. Where ongoing services relate to strategic consulting and advice we will agree an annual budget which relates to the time required to deliver the agreed service scope. For ongoing investment management services we charge an asset based fee, this fee will be agreed with you before implementation. The asset based fee is dependent on the quantum of your funds under advice ( FUA ), however the rate of this fee starts at 1.15% per annum plus GST. FUA fees are calculated monthly by multiplying the closing monthly value of FUA by one 12 th of the annual fee rate. Generally these fees are automatically determined and paid by the third party custodian platform retained. Other charges may be levied by the third party providers of products, the rates of such fees may vary greatly. We will clearly outline to you all commissions, fees and charges payable on any financial product recommended by BW Capital before entering such contracts or arrangements. We work to ensure our clients are fully informed of the total costs of any financial decision before proceeding. Disclosure You have the right to be aware of commissions and other material benefits your advisor receives for recommending any particular financial product. We will disclose any interest that the advisor may receive which could reasonably be expected to be capable of influencing a recommendation made to you. All authorised employees of BW Capital are salaried professionals, and are not remunerated on a commission basis. Investment Strategy We utilise modern portfolio theory in our investment process and the application of efficient frontiers. This theory is based on the assumption that investors are rational and accordingly wish to maximise their expected after tax returns. In order to maximise returns we must evaluate your tolerance to investment risks and seek to balance this with your desire for return, thereby producing an optimally allocated investment portfolio. Our main focus throughout is managing investment risk via the consideration of the

4 volatility of returns. Our process is supported by substantial technology, modelling and investment research. Our process We have a five stage process which allows us to understand our client s situation, needs and objectives, then develop customised strategic planning and provide implementation and management services. Initial Meeting at the first meeting we will begin to develop an understanding of your situation, needs and objectives. In this meeting we will outline our services in detail and agree the terms of any engagement. This meeting will allow us to collect data on your current financial position, including details of your assets, liabilities, income and expenses and we will discuss your financial aspirations in order to develop tailored strategic advice. Diagnostics and Modelling Phase - data collected is subject to analysis for your financial strengths, weaknesses, opportunities and threats. From this analysis we seek to model optimal strategies designed specifically to deliver your financial objectives. Our recommendations and any relevant modelling conducted are fully documented in the advice statement. Formal Communication - at our second meeting we will present and discuss with you our written recommendations contained in the advice statement. In this meeting we will seek to clarify the nature and effect of our advice, as well as the specific detail of your alternate strategic options. Implementation Phase - once you have reviewed our advice and recommendations, we will agree the strategy and tactics of your financial plan. Working to an agreed action plan we will implement the strategies. At all times you maintain total discretion over your financial affairs. Our objective in the implementation phase is to minimise any disruption to you caused by executing your financial strategies. Ongoing Advice and Management - once your financial strategies have been put in place our role evolves to providing ongoing advice, consulting and management of your financial strategies and products. This may include providing strategy, product and investment review and management services as agreed. The focus of ongoing advice or services we provide is to ensure the ongoing

5 effectiveness of any strategy, product or investment process implemented in line with your particular situation, needs and objectives. The review process will take account of changes in the taxation system, economic environment and global capital markets as well as any changes to financial products and services. We will arrange with you a regular schedule of review meetings at an agreed frequency in keeping with your needs. After you receive our advice Once your financial strategies are implemented we will regularly monitor and review both investments and strategy. Our ongoing advice, consulting and management services may include: Immediate priority access to your advisor. Your advisor s role is to facilitate management of your financial strategies, investments and financial products and assist with organisation of your financial affairs on an ongoing basis. Regular strategy planning review meetings. We will meet with you annually to conduct a detailed review of your financial situation and decide actions for the next twelve months. The review meeting ensures your financial strategies stay on track to achieving your financial goals. These meetings may be more regular if necessary. Risk management review. In addition to reviewing the ongoing effectiveness of financial products we also ensure an analysis of your key financial risks is conducted. Investment management services. We will report periodically (as agreed) on the performance of your investments against various benchmarks and provide regular automatic rebalancing of investment portfolios. Reasonable analysis of new investment opportunities, access to, research on and analysis of new investment opportunities and tax planning strategies as they arise. Economic and market updates, including information on relevant financial environment changes which may impact your financial strategies and products. Seminars and presentations on insurance, investment and tax issues of particular relevance to our clients. Reasonable liaison with other professionals as required. Our commitment We undertake to outline all risks involved in the financial products and strategies we recommend to you. If you do not understand the risks please ask us for assistance. We will only recommend financial products suitable to your financial situation, needs and objectives. We will maintain a confidential file of your information including all advice and recommendations made to you.

6 Your discretion You may instruct us as to specific financial product decisions. If you decide not to disclose your full personal position we may still be able to advise you, however cannot accept any liability for recommendations based on incomplete or inaccurate information. You should consider all risk warnings carefully. Contacting you Please advise us how you want us to communicate with you, i.e. by , phone, mail or fax. Similarly, with financial product documentation, we can filter and pass on relevant documents we feel are of value in addition to any financial documents which we are important to your decision making. Alternatively, at your request, we can forward all documents to you and maintain a copy only. Complaints procedure If you have a complaint about the service that we have provided, you should take the following steps: Contact your advisor and tell them about your complaint. If your complaint is not resolved satisfactorily within 5 working days please refer the matter in writing to; David Harden, Manager Director of BW Capital Pty Ltd, PO Box R965 Royal Exchange NSW 1225 Or david.harden@bwcglobal.com If you still do not get a satisfactory outcome with the above internal complaints procedure you have the right to complain to the Financial Ombudsman Service Limited of which we are members. Financial Ombudsman Service Limited GPO Box 3, Melbourne VIC Telephone or Fax ASIC also has a free call info-line on which you may use to make a complaint and obtain information about your rights. Our Privacy Policy When you provide BW Capital with your personal and financial information, we will tell you how we may use it keep it in a secure way

7 restrict how we use it restrict who we provide it to What information does BW Capital collect? We will ask you to provide your personal details and those of your related entities. This information will generally be collected by use of a paper or electronic form. The reason we collect this information is so that we can provide you with our services and communicate effectively with you. How is the information used? The information obtained from you by BW Capital is used to provide you with strategic advice and to establish and maintain custody accounts for you and your entities both domestically and internationally. Will the information be disclosed to third parties? BW Capital will not sell, rent, trade or disclose your information to any individual or organisation unless authorized by you; it is required by law; or if the disclosure is permitted under the Privacy Act Can I access my contact information? Under the Privacy Act 1988, you have a right to seek access to the contact information which BW Capital holds about you. You also have the right to ask us to correct contact information about you which is inaccurate, incomplete or out of date. If you wish to access your information that is held by us or you would like more information on our privacy policy, please contact us by: By phone: (02) ; or By fax: (02) ; or By mail: The Compliance Officer C/- BW Capital Pty Ltd PO Box R965 Royal Exchange NSW 1225 Changes to this Privacy Policy This Privacy Policy may change from time to time.