McMaster Heathfield Wealth Advisers

Transcription

1 McMaster Heathfield Wealth Advisers Financial Services Guide This Financial Services Guide is to help you decide if you want to use our services.

2 McMaster Heathfield Wealth Advisers is the trading name of McMaster Heathfield Pty Ltd the holder of an Australian Financial Services Licence under which financial services may be provided to you; This Financial Services Guide ( FSG ) will explain; our range of services; how we are paid for our services; and what happens if you are not satisfied with the advice and other services you receive. It is intended that this FSG should assist you in determining whether to use any of the services described in this document. You should also be aware that you are entitled to receive a Statement of Advice when we first provide you with personal advice, (advice that takes into account your objectives, financial situation and needs). The Statement of Advice will contain the advice, the basis on which it is given and information about fees, commissions and associations which may have influenced the provision of the advice. If our representative provides further advice to you and your personal circumstances have not significantly changed, and that further advice is related to the advice we provided to you in a previous Statement of Advice and we do not give that further advice to you in writing you may request a copy of the record of that further advice at any time up to 7 years from the date our representative gave the further advice to you. You can request the record of the advice by contacting the representative or us in writing or by telephone or by . In the event we make a recommendation to acquire a particular financial product (other than securities), we must also provide you with a Product Disclosure Statement ( PDS ) containing information about the particular product, which will enable you to make an informed decision in relation to the acquisition of that product. Where we recommend a Platform or Wrap Account or Masterfund you will be given a PDS for that product and, in addition, you will be given what is referred to as a Short Form PDS which provides information about the particular managed funds we have recommended. McMaster Heathfield and their wealth advisers are committed to open and honest communication with clients at all times, as this is the foundation of good advice. It s important that you take the time to discuss the information in this document with us. Equally, please feel free to ask any questions or seek further information if there is anything you don t understand. Page 2

3 The Financial Services referred to in this guide are offered by: McMaster Heathfield Pty Ltd Level 6, 201 Wickham Terrace Spring Hill, Qld, 4000 Telephone: (07) ABN: ASIC AFS Licence No Issue Date: November 2009 Page 3

4 Who Are We? McMaster Heathfield Wealth Advisers Pty Ltd (MHWA) is a privately-owned financial planning firm that has been established for more than 25 years, providing a range of wealth advice and assistance to help people grow, manage and protect their wealth. Our objectives are to: Design, implement and manage appropriate strategies to help grow and protect the wealth of our clients. Provide quality advice and best practice service to our clients; Always place our client's interests before those of any institution; Focus on building long-term relationships with our clients by providing a personalised service. Provide an ongoing education resource to clients. We are licensed to advise and deal in the following financial products; Deposit products (Bank accounts and Term Deposits) Government Debentures, Stocks & Bonds; Life Insurance Risk Products; Managed investment Schemes (Managed Funds); Securities (Shares listed on the Australian Securities Exchange); Retirement Savings Account Products; and Superannuation; We can facilitate the purchase of direct equities through a number of stockbrokers. Page 4

5 Our Advisers. Andrew McMaster Andrew has been providing financial advice to clients since He is a Director of McMaster Heathfield Wealth Advisers. Andrew McMaster is accredited with the following: Associate Member Financial Planning Association [AFPA] Diploma in Financial Services (Financial Planning) Diploma in Superannuation Management [DipSM] Accreditation Self Managed Super Funds [Tribeca] Andrew McMaster is active within the following professional association: Financial Planning Association Australia [FPA] Hilton Heathfield Hilton is a qualified accountant and company secretary and has worked extensively in the corporate arena in senior finance positions as a Chief Financial Officer and Company Secretary. Hilton has been providing financial advice to clients since He is a Director of McMaster Heathfield Wealth Advisers. Hilton Heathfield is accredited with the following: Full Member Certified Practising Accountant (CPA) Full Member Institute of Chartered Secretaries Australia (ACIS) Full Member Institute of Certified Management Accountants (CMA) Bachelor of Commerce (BComm) Diploma of Financial Services (Financial Planning) Page 5

6 Our advisers specialise in giving advice in the following disciplines: Utilising financial products such as: Wealth Creation Retirement Planning Debt Management Self Managed Super Funds Corporate Superannuation Personal Insurances Business Insurances Succession Planning Estate Planning Corporate, personal and selfmanaged super funds, approved deposit funds, retirement savings accounts, allocated pensions, term allocated pensions and complying annuities. Deposit products such as cash management trusts, Master trusts and wrap accounts. Death, total and permanent disability, trauma and income protection. Key person protection, Partnership protection (buy/sell share purchase) and business loan protection. We do not provide advice on the following services. General Insurance Direct Shares Direct Property Foreign Exchange Products that are not on our Approved Product List Page 6

7 Our professional fees We believe the services we offer are valuable and the remuneration received is a fair reward for our expertise and skills. We believe in being very open about any benefits or payments we receive and the costs you will incur for using our services. 1. We charge fees for our initial advice, its implementation, ongoing monitoring and review. 2. We may also charge fees for other advice or services which fall outside the scope of those above. 3. Further details about our fees are contained in our Fee Schedule which forms part of this FSG. 4. No fees are payable unless you have instructed us to proceed with the provision of advice and services by signing our Letter of Engagement. 5. All fees charged by us and any brokerage or commissions paid by product providers (total remuneration) are paid to McMaster Heathfield Pty Ltd, the licensee. 6. Full details of all fees, brokerage, commissions or other benefits that we or any other related party receive as a result of recommendations to you will be disclosed in the Statement of Advice. 7. Your adviser is paid a salary and does not receive any commissions or incentives from product providers. Commissions In addition to the fees we charge we may receive commissions from product providers. The commission rate will vary depending on the type of product. Generally these commissions are: Investment products Based on the value of your investment and deducted from your initial investment and/or the value of your ongoing investment. If you purchase or retain any retail managed investment products on our recommendation, we may receive commission payments from the product provider. We may receive an initial amount of commission of up to 4% of the amount invested into the product together with an ongoing commission payment of up to 2% per annum. For example: If your investment amount was $50,000 and the initial commission paid to the licensee was 3%, the licensee will receive $1500 when you place the investment. In addition, if the ongoing commission is 1 % and your investment balance was $52,000, the licensee will receive $520 per annum (this ongoing commission will vary each year depending on your account balance). Insurance products Page 7

8 Insurance commissions are paid by to the licensee by the insurer. If you purchase or retain a life insurance policy on our recommendation, the licensee may receive commission payments from the Insurer who issues the policy. There are a number of ways these payments can be structured. Insurers currently pay commission of up to 143% of the first year s premium and up to 32% for subsequent years over the life of the policy. For example; If your first year s premium was $500 and the initial commission was 120% the licensee will receive $600. If your premium for the second and subsequent years was $500 and the ongoing commission was 30% the licensee will receive $150 per annum. Base commissions relate directly to the amount of your investment or insurance and the way in which we ve agreed to charge fees for our services Fee Schedule Consultation An initial consultation is provided to all new clients without cost or obligation. Our Advice and its Implementation Set fee - based on a quote provided in a letter of engagement The fee will be charged in two stages. The first stage is determined by the time involved and is based on a standard hourly rate of $165 (GST inclusive). An estimate of the anticipated time and cost will be provided in our letter of engagement and, should you accept, is payable by invoice issued to you prior to commencement of any work OR upon presentation of our advice. Fee Schedule [GST inclusive] Personal Estate & Financial Plan $2,750 Risk Management Report $ 275 Corporate Super Tender Report $ 550 Second stage payment The second stage will be based upon a scale applied to the actual amount of the portfolio invested and is dependent upon your satisfaction with our advice. If you do not accept our advice you do not have to pay the remainder of our fee. Initial Transaction Costs Page 8

9 Managed Funds: 1.1% of Applicable Value (inclusive of GST) For example: If your investment amount was $50,000 we will charge you a transaction fee of $550. Client Care 1.1% of FUM* *Subject to revision on 30 June each year and a minimum of $2,750 per annum, inclusive of GST To pay the remaining balance you can either request an invoice or arrange for the payment to be taken directly out of your portfolio 1. All fees will be outlined to you in our letter of engagement and your written consent will be obtained before proceeding. No fees are payable unless you engage our services by signing the letter of engagement. Confidence in the quality of our advice If, at any time, you are not satisfied with the advice you receive, or any other aspect of our service, we would welcome this feedback and will act on it immediately. If you are still not happy, please contact MHWA Complaints on (07) , or in writing to GPO Box 2496, Brisbane, Qld, If we cannot resolve your concerns, you may contact the Financial Ombudsman Service (FOS) of which MHWA is a member. The contact details for FOS are as follows: Financial Ombudsman Service GPO Box 3, Melbourne VIC 3001 Phone: Fax: (03) info@fos.org.au ASIC regulates all holders of Australian Financial Service Licences including MHWA. They can be contacted on MHWA is also a member of the Credit Industry Ombudsman Service Ltd. You can contact them for resolution of complaints concerning mortgage and finance brokerage on , in writing to Level 6, 50 Park St, Sydney NSW 2000 or at their website You can view the MHWA Complaints Handling Policy on the MHWA website at 1 This may not be possible in respect of some investments. Page 9

10 Professional indemnity insurance The licensee has in place professional indemnity insurance covering the services provided under its Australian Financial Services Licence. This insurance satisfies the requirements for compensation arrangements under section 912B of the Corporations Act. Your privacy Your adviser will develop a strategy based on your current financial situation, with the aim of meeting your individual financial goals. To achieve this, you need to be open and honest with your adviser. We realise that it can be uncomfortable to provide personal information on your health and lifestyle, or financial situation. We understand this, and will do everything we can to make you feel comfortable. MHWA has a policy relating to clients personal information and the process which we follow. We will also ensure that your personal information, including any financial records or advice provided to you, is kept confidential and secure. We will keep any personal information in a secure file and you are free to view this file if you wish. To learn more about our collection and use of your personal information (for marketing and other purposes), please view the MHWA Privacy Policy Statement available on our website at or ask us to provide you with a copy. The advice we can give you is only as good as our understanding of your personal circumstances. Please help us to help you by being honest with your personal information. You have the right to withhold personal information, but this may compromise the effectiveness of the advice you receive Any Questions? Please contact either Andrew McMaster or Hilton Heathfield in the first instance if you have any questions about this FSG or the financial services we provide. Page 10