Financial Services Guide

Version 2.2 1 November 2018

This Financial Services Guide (“FSG”) is intended to inform you of certain matters relating to our relationship and designed to assist you in determining whether to use any of our services.

This FSG sets out the services we offer and how we (and others) are paid for those services, any matters that may influence our provision of those services and what you can do if you ever have a complaint about our services, including accessing our external dispute resolution services and what compensation arrangements are in place.

This applies from 1 November 2018 and remains valid until a further FSG is issued. Please retain this document for your reference and any future dealings with us.

As provision of an FSG is a legal requirement, with prescribed content, some parts may seem irrelevant to your particular situation and may therefore be confusing. For this reason, we would encourage you to ask questions of us in relation to any issue raised by this document, particularly in the area of costs and charges.

  1. Before you receive our advice

What kind of financial services and products are you authorised for?

We are authorised to provide financial advice and dealing services to retail and wholesale clients in the following:

  • Managed Investment Schemes (including IDPS);
  • Securities;
  • Superannuation (including SMSF) and Retirement Savings Accounts;
  • Life Products – Investment and Risk;
  • Government Debentures Stocks or Bonds;
  • Deposit Products;
  • Derivatives; and
  • Margin Lending

Our services are primarily aimed at the provision of on-going advice in financial planning, including advice on planning and establishing strategies appropriate to your circumstances. This involves analysing your total financial requirements in the areas of savings, investment, superannuation, borrowing, risk insurance and estate considerations.

Who will be responsible for the financial services provided to me?

RG AFSL Pty Ltd is the holder of an Australian Financial Services Licence No. 493702 and is responsible for the financial services provided to you, including the distribution of this FSG.  RG AFSL Pty Ltd’s head office is located at Boundary Court, 55 Little Edward Street Spring Hill QLD 4004.

Who will be providing the financial service to me?

Robertson Group Australia Pty Ltd (RGA) is a Corporate Authorised Representative 430632 of RG AFSL Pty Ltd and registered tax (financial) adviser with the Tax Practitioners Board (25547874).  RGA advisers are set out below:

John Robertson

John is the Managing Director of the firm and holds a Bachelor of Business degree from Curtin University. John has been in the financial planning industry since 1988, providing him with a wealth of experience and knowledge in the capital markets field including equities research and management, banking, finance, insurance, superannuation, accounting and property development.  John is an Authorised Representative (274929) registered tax financial advisor with the Tax Practitioners Board (25032866) and a member of the Financial Planning Association (006678).

Alvin Wong

Alvin has been a financial advisor since 2007 and working with Robertson Group Australia since 2010.   He is experienced in dealing with clients across a number of demographics, from younger couples looking to establish themselves, through to clients preparing to move into retirement.  Alvin holds a Bachelor of Commerce, Bachelor of Engineering and an Advanced Diploma of Financial Services (Financial Planning).  He is an Authorised Representative (316313) of RGL AFSL Pty Ltd, a member of the Financial Planning Association (FPA) and a registered tax financial advisor with the Tax Practitioners Board (25033603).

Beth Casey

Beth is passionate about finance and financial management, she enjoys working with client’s goals and objectives to achieve the best outcome for them. Beth has worked in the financial advice industry since 2006 and as a financial advisor with Robertson Group Australia since 2009. Beth holds a Bachelor of Applied Science (Mathematics), Bachelor of Education and an Advanced Diploma of Financial Services (Financial Planning).  Beth is an Authorised Representative (341471) of RGL AFSL Pty Ltd and a registered tax financial advisor with the Tax Practitioners Board (25033477).

How will the advice be provided to me?

In the course of this analysis it is possible that investment recommendations will be made on financial products as identified above.

When recommendations are made, we may issue a Statement of Advice (“SOA”) which will include we have given you, the basis of the advice and other information on our remuneration and any relevant associations or interests. The SOA is used for initial advice and where further advice is provided that involves a significant change to your personal circumstances.

Where subsequent advice is provided that does not involve a significant change your adviser will provide you with a Record of Advice (“ROA”).  Should you require a copy of the ROA or any other advice document provided to you, please let us know and it will be re-issued to you free of charge.

We may also provide a copy of relevant Product Disclosure Statement(s) (“PDS”), where applicable. The PDS will contain detailed information about the particular product to enable you to make an informed decision in relation to the acquisition of that product.

Who do you act for when you provide financial services to me?

RGA and our advisers will be acting on behalf of RG AFSL Pty Ltd as your adviser. They will not be acting on behalf of any product provider or third party.

How will I pay for the service?

We are a fee for service practice, with fees discussed and agreed in advance with our clients. However, our insurance services may be provided on a commission basis. Our reasons are explained below.

As the authorising Licensee, all remuneration is paid to RG AFSL Pty Ltd who will pass on 100% of that remuneration minus an agreed monthly Dealer Fee to RGA and its advisers as the providers of the financial services.

All remuneration, including the RG AFSL Pty Ltd and adviser splits, will be disclosed in dollar terms in the SOA/ROA that we will give you before proceeding with any recommendations.  All fees and commissions are inclusive of GST.

NB: We are required to list all possible remuneration and charging methods in this FSG. However not every fee would be applicable in each situation and we discuss and agree individual fees with all clients.

Financial Planning Services

In matters concerning financial planning, our fees are discussed and agreed upon prior to undertaking any work on behalf of clients.

Initial Advice

  1. Planning on behalf of our clients is thorough and tailored to an individual’s situation. Our minimum fee of $5,000 for initial planning reflects the time required in preparation, planning and reporting, and varies according to complexity. In all cases, we discuss and agree in writing upon scope and likely fees prior to commencement of our engagement.
  2. If plan implementation is required, with placement of investments, plus preparation and lodgement of documentation, further fees may be payable, but only by mutual and written agreement.

On-going Advice

  1. On-going service is very important and our clients pay agreed fees. This fee varies according to complexity of a client’s situation and the size of the portfolio for which we may be responsible. Our full service offering commences at 1.1% per annum of funds under management with scaled and/or limited service requirements depending on the portfolio complexity. For example, for $100,000 under management the full-service ongoing service fee is $1,100.
  2. Hourly rate: $385 – $825 for ad-hoc consultancy with a Financial Planner. This is totally dependent upon the availability of advisers, as our first responsibility is to existing clients who are paying on-going service fees.

Insurance Services

We have a dedicated insurance service which offers vital protection for many of our younger clients’ financial plans.  For these services, we are usually remunerated on a commission basis, which is paid to us by the insurer and calculated as a percentage of the policy premium (less any government fees or charges).

The percentage of commission is dependent on the insurer and can range between:

  1. Initial Commission: may be up to 80%
  2. Ongoing commission: may be up to 20%

For example, if your first year’s premium is $500, and we receive 80% initial commission, we will be paid $400. If the premium for the second and subsequent years was $500, and we received 20% ongoing commission, we will be paid $100 per year. Please note there are various commission structures available and the above calculations are examples of possible structures.

It is our view that a fee basis is not usually appropriate in respect of insurance products. In some instances, clients accept recommendations only to have cover refused by the underwriters due to health considerations. We believe it would generally be inappropriate to submit fees when an application has been unsuccessful. A commission basis is the most equitable means of remuneration as it is in the nature of a success fee.

In certain circumstances, such as consultation or policy ownership changes, a fee may be applicable. In such cases an agreed fee or hourly rate would be discussed in advance.

Insurance Claims

We will always initiate claims on behalf of clients (with client permission) and the first two hours of facilitation will be free of charge. For any time spent on the claim thereafter, we will charge an hourly rate for our involvement. Alternatively, clients may choose to deal with the insurer directly through a dedicated claims manager and we would assist in making initial contact.

Do any relationships or associations exist which might influence you in providing me with the financial services?

RG AFSL Pty Ltd and RGA are privately owned companies and have no association or additional arrangements with any product providers e.g. banks, life companies or other financial institutions. There are no relationships which may influence the quality of our advice.

John Robertson as director and owner of both RG AFSL Pty Ltd and Robertson Group Australia Pty Ltd receives a salary and all profits of those companies.

We do not often pay any commissions, fees or benefits to others who refer you to us.  If we do, we will pay commissions to those people out of our remuneration (not in addition to those amounts), in the range of 0-20% of our remuneration.

  1. When you get your advice

Will you give me advice which is suitable to my needs and financial circumstances?

Yes, but to do so we need to find out your individual objectives, financial situation and needs before we recommend any financial products or service to you. You have the right not to divulge this information to us if you do not wish to do so. In that case, we are required to warn you about the possible consequences of our not having your full personal information. You should read the warnings carefully.

Where we provide you with advice, that advice is current at the time that we give it. We may need to review your advice if you inform us about changes in your circumstances.

What should I know about any risks of the financial products or strategies you recommend to me?

We will explain to you any significant risks of financial products and strategies which we recommend to you. If we do not do so, you should ask us to explain those risks to you.

Can I provide you with instructions and tell you how I wish to instruct you to buy or sell my financial products?

Yes, you may specify how you would like to give us instructions, for example by telephone, fax, email or other means.

  1. After you receive our advice

What personal information will be held on file about me?

We maintain a record of your personal profile, which includes details of your objectives, financial situation and needs, together with a record or any recommendations made to you. We will retain this FSG and any other FSG given to you as well as any SOA or PDS that we give or pass on to you for the period required by law. If you wish to look at your file please ask us. We will make arrangements for you to do so.

We use your personal information to provide our financial advice and services to you.  This may involve offering, arranging, managing or administering a financial product or service provided to you.

We may disclose information about you to representatives of this firm and to other professionals, insurance providers, superannuation trustees and product issuers in connection with the purposes detailed above; however we will take reasonable measures to ensure that they protect your information as required under the Privacy Act 1988.

Your information may also be given to an overseas insurer if we are seeking insurance terms from an overseas insurer, or to reinsurers who are located overseas. We will try to tell you where those companies are located at the time of advising you.

We do not trade, rent or sell your information. If you don’t provide us with full information, we may not be able to provide you with any services or products you are seeking.

By asking us to assist with your financial planning and insurance needs, you consent to the collection and use of the information you have provided to us for the purposes described above.

For more information about our approach and commitment to the protection of your personal information, ask us for a copy of our Privacy Policy or visit our website at www.robertsonga.com.au.  Our Privacy Policy provides detailed information how we collect, use, disclose and protect your personal information, including how to access the personal information we hold about you, how to have the information corrected and how to complain if you think we have breached the privacy laws.

Who can I contact if I have a complaint?

If you have any complaint about the service provided to you, you should take the following steps.

  1. Contact us and tell us about your complaint.
  2. If your complaint is not satisfactorily resolved within three days, please contact RG AFSL Pty Ltd or put your complaint in writing and send it to RG AFSL Pty Ltd at their address noted at the beginning of this FSG. They will try and resolve your complaint quickly and fairly.

If you do not get a satisfactory outcome, you have the right to escalate your complaint to the Australian Financial Complaints Authority (AFCA) GPO Box 3, Melbourne, VIC 3001, telephone toll free 1800 931 678 or email [email protected]  RG AFSL is a member of this Service.

Are there any compensation arrangements in place?

RG AFSL Pty Ltd holds a Professional Indemnity Insurance Policy in accordance with the legislative requirements to cover its professional financial planning, advisory and insurance broking activities. It includes cover for claims in relation to the conduct of current Authorised Representatives as well as that of Authorised Representatives who are no longer authorised by RG AFSL Pty Ltd (but who were at the time of any relevant claim). Any client or intending client may ask us to provide them with a copy of the Policy, at no charge.

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