To assist you in making an informed decision about appointing Holistic Private Wealth, this guide contains important information about:
· the services we offer you
· how we and our associates are paid
· any potential conflicts of interest we may have
· our internal and external dispute resolution procedures and how you can access them
When we give you personal financial advice – a Statement of Advice (SoA) – we take into account your current financial situation and future needs.
In the SoA we will tell you about:
· the basis for our advice
· our fees and commissions
· any associations we have with Financial Product Issuers or other parties which may have influenced the advice we give you.
In certain situations, we may give you advice about the investment merits of a product – Product Advice. This advice does not consider the question of whether the product is a suitable investment for you personally and should not be construed as a Statement of Advice (SoA)
In the event we recommend to you a particular Financial Product, we may give you information about the particular Financial Product—a Product Disclosure Statement (PDS)—to help you make an informed decision about the Financial Product.
1. Who is responsible for the financial services provided?
Holistic Private Wealth, a private client wealth management business is responsible for the financial services provided including the distribution of this Financial Services Guide (FSG).
Holistic Private Wealth, ABN 38 383 561 396
An Australian Financial Services Licensee, 278423
Level 2, 189 Rouse Street
Holistic Private Wealth is also authorised by ASIC to provide MDA Services (refer Supplementary Financial Services Guide “SFSG”).
When our clients appoint Holistic Private Wealth as their wealth manager, they give us a limited power of attorney to manage their assets in accordance with the Investment Program, without seeking prior approval for individual transactions.
2. Who is my adviser?
Your adviser is an employee of Holistic Private Wealth, with Holistic Private Wealth responsible to you for any investment advisory services your adviser provides.
Information regarding your advisory team will be contained in your SoA.
3. How is my adviser remunerated?
As an employee of Holistic Private Wealth, your adviser is remunerated solely by salary and the possibility of an annual bonus or profit share, depending on the performance of the individual and also the business.
Information regarding treatment of commissions and brokerages is detailed on page 7 of this document.
4. What are the range of financial products and/or services you are authorised to provide?
Ap is a authorized representative of SIRA GROUP who holds an Australian Financial Services License (AFSL) with the necessary authorisations to provide advice on and deal in the following financial products:
· Deposit and Payment Products (eg. cash, fixed income)
· Debentures, stocks or bonds issued by or proposed to be issued by a government
· Securities (eg shares, debentures)
· Managed investment schemes (eg managed funds)
· Superannuation products and Self Managed Superannuation Funds (SMSFs)
· Life Insurance
· MDA Services (refer our SFSG for more detail)
Holistic Private Wealth will also provide financial services advice on matters such as:
· remuneration planning
· investment structuring
· estate planning
· asset protection
· tax planning (in general terms).
If you have a need for products or services not listed above or require further specialist advice which Holsitic Private Wealth cannot or is not authorised to provide, you will be referred to another qualified provider.
If you do not wish to receive our advice, we may deal on your behalf by carrying out your instructions.
If you do not obtain advice, you face the risk that the financial products/services you select will not fully take into account your objectives, financial situation or needs.
5. When I receive financial advice, what do I get?
There are 2 types of advice, Personal Advice and General (or Product) Advice.
When you receive Personal Advice, you will receive a Statement of Advice (SoA) which takes into account your investment objective, financial situation and needs.
A SoA details the advice appropriate to you, the basis for this advice, the risks involved with the investments and any investment strategy we recommend to you, relevant disclosures (concerning fees, interests or benefits to be received by us, and conflicting relationships or associations capable of influencing the advice) and, if applicable, a warning about the suitability of the advice where insufficient personal information has been provided.
Further Advice (FA) may be provided without the requirement of another SoA if similar advice has been the subject of a previous SoA and your strategy and circumstances have not changed significantly. We will make an internal record of the FA and you may request a copy of that record at any time during the 7 year period after the date the FA was required.
The 2nd category of advice is General (or Product) Advice which is based on the consideration of the investment merits of a product without considering the question of whether the product is suitable for you personally. Such advice will generally be accompanied by a warning referring to this.
6. What information should I provide to receive Personal Advice?
You need to provide us with details of your personal objectives, details of your current financial situation and any relevant information, so that we can offer you appropriate advice.
You have the right not to tell us, if you do not wish to. However, if you do not, the advice you receive may not be appropriate to your needs, objectives and financial situation.
You should read the warnings contained in the Statement of Advice carefully before making any decision relating to a financial product/s.
7. What should I know about the risks of the financial products or strategies you recommend to me?
We will explain to you any significant risks of the financial products and strategies that we recommend to you. If we do not do so, you should ask us to explain those risks to you.
8. What information do you maintain in my file, how is it used and can I examine my file?
We maintain a record of your personal profile including details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you.
The collection and use of personal information will be limited to the minimum we require to deliver our services to you. Generally this means it will only be disclosed to other parties authorised and/or required by law to collect or access your information.
If you wish to examine your file please ask us. We will make arrangements for you to do so. Please notify us of any errors which we will promptly correct.
If we deny you access or you have any complaints regarding the collection, use or management of your personal information, you may write to the Privacy Commissioner at GPO Box 5218 , Sydney NSW 1042.
9. How can I give you instructions about my Financial Product/s?
You may tell us how you would like to give us instructions. For example by telephone, fax or other means such as e-mail.
10. How will I pay for the services provided?
Our services are based on a fee for service model, although we may receive commissions from certain product providers.
If you receive personal investment advice from us, we will tell you about any commissions, fees and any other benefits, where possible in actual dollar amounts, in the Statement of Advice.
Our full fee schedule is outlined on page 7 of this document.
11. Will anyone be paid for referring me to you?
Where you have been referred to us by someone else, if we pay them a fee or commission in relation to that referral, we will tell you in the Statement of Advice who will receive that fee or commission and the amount they will receive.
12. Who owns SIRA GROUP and are there any conflicts of interest that arise from this ownership?
SIRA GROUP is a private company, majority owned by its founder, David Bannister.
SIRA GROUP, including its shareholders, has no financial interest in any financial product providers with whom it deals.
No directors or executive officers of SIRA GROUP act in a similar capacity within the business of a financial product provider.
In the event that SIRA GROUP develops relationships with financial product providers and receives any monetary or other benefits, our usual disclosure principles will apply.
13. What should I do if I have a complaint?
If you have any complaint about the service provided to you, you should take the following steps:
· Contact your adviser and tell your adviser about your complaint.
· If your complaint is not satisfactorily resolved within 7 days, please contact SIRA GROUP on (03) 9909 7018 or put your complaint in writing and send it to us at Level 1, 530 Little Collins Street, Melbourne, VIC 3000. We will try to resolve your complaint quickly and fairly. Please include as much detail as possible.
· If we cannot reach a satisfactory resolution, you can raise your concerns with the Financial Ombudsman Service on 1800 335 405. SIRA GROUP is a member of this complaints resolution service.
The Australian Securities and Investments Commission (ASIC) also has a freecall Infoline on 1300 300 630 which you may use to make a complaint and obtain information about your rights.
Hourly rate of $275 + GST
Based on the hourly rate, the plan fee is calculated and quoted at the first meeting. Once quoted, the fee is set unless the scope of advice is changed by you, in which case a revised quote will be provided.
No charge. We will provide you with a proposal for advice, including areas to be addressed and a quote based on estimated time involved.
Funds Under Management:
$0 to $1,000,000
This fee is payable monthly in arrears, based on the total market value of the portfolio as at the end of the month, and deducted from your portfolio.
The fee for our Active Portfolio Management service is covered above.
Holistic Private Wealth utilises external custodial services to provide portfolio administration and management solutions. These services provide online reporting, portfolio administration and tax reporting covering the full spectrum of traded and non-traded financial products.
An estimation of fees payable/costs will be provided to you in your Statement of Advice at the time.
Commissions and Brokerage
Generally Holistic Private Wealth does not receive up-front commissions or brokerage for investment business placed with any fund manager.
In the event that any commissions are received by us for investment business they will be disclosed to you.
Holistic Private Wealth will receive commissions for insurance business lodged including Life Insurance, Total & Permanent Disability Insurance and Income Protection Insurance.
These commissions are factored into the premiums of the products and do not affect the cost of insurance.
Holistic Private Wealth has a minimum annual fee for ongoing service.
Should you wish to retain Holistic Private Wealth as your adviser the annual minimum fee is $1,000 plus GST.
This fee is payable monthly in arrears and deducted from your portfolio.
Fee Schedule – IMPORTANT POINTS
· Holistic Private Wealth does not charge any entry, exit or transaction fees.
· Brokerage charged by stockbrokers is for your account – any additional brokerage or transaction costs paid to Holistic Private Wealth will be disclosed in your statement of advice.
· Where you require a margin lending facility then you are responsible for payment of all fees, charges and interest thereon.
· If you terminate your relationship with Holistic Private Wealth, you must give 30 days notice in writing. We will assist you in transferring your investments to alternative arrangements. We will charge you our standard fees for the 30 days based on the portfolio value as at the date we receive the notice of termination.
· Any government or other charges, plus costs that we might incur in the initial transition or management of your portfolio, are for your account. We will keep you apprised of such costs.
As a financial services organisation we are subject to certain legislative and regulatory requirements which necessitate us obtaining and holding detailed information which personally identifies you and/or contains information or an opinion about you. In addition, our ability to provide you with a comprehensive financial planning and advice service is dependent on us obtaining certain personal information about you.
On collecting information in the referral or engagement process, the organisation collecting the information becomes obliged to provide certain disclosures to the individual whose information is being collected and also become subject to certain obligations in respect of the subsequent use, disclosure and management of that information.
Failure to provide the personal information may expose you to higher risks in respect of the recommendations made to you and may affect the adequacy or appropriateness of advice we give to you.
As we are required pursuant to the Corporations Act (2001) to collect sufficient information to ensure appropriate advice can be given in respect of recommendations made to our clients, if you elect not to provide us with personal information, we may elect to terminate our retainer with you if we believe we are unable to provide you with a complete service.
We will not collect any personal information about you except when you have knowingly provided that information to us or authorised a third party to provide that information to us.
Generally, collection of your personal information will be effected in either face to face interviews, over the telephone or via online means. From time to time additional and/or updated personal information may be collected through one or more of those methods.
We will only collect, maintain and use personal information about you if it is necessary for us to adequately provide to you the services you have requested, which may include:
– The preparation of your Financial Strategy;
– The provision of financial planning advice to you;
– Making securities and investment recommendations;
– Making finance recommendations to you;
– The preparation of your finance application;
– Reviewing your Financial Strategy;
– Reviewing securities and investment recommendations;
– Making property management recommendations to you;
– The preparation of your tax return;
– The provision of other activities as directed by you.
Use and Disclosure of Information Collected
We will not use or disclose personal information collected by us for any purpose other than:
The purposes for which it was provided or secondary related purposes in circumstances where you would reasonable expect such use or disclosure; or
Where you have consented to such disclosure; or
Where the National Privacy Principles authorise use or disclosure where required or authorised under law, in circumstances relating to public health and safety and in connection with certain operations by or on behalf of an enforcement body.
This may involve the disclosure of your personal information. We are obliged pursuant to the Corporations Act to maintain certain transaction records and make those records available for inspection by the Australian Securities and Investments Commission to ensure ongoing compliance with mandatory professional standards.
We are also obliged as a condition of our licence to make your records available for inspection by internal Compliance staff.
We may use the personal information collected from you for the purpose of providing you with direct marketing material such as articles that may be of interest to you, however you may, by contacting us, request not to receive such information and we will give effect to that request. Please allow two weeks for your request to be actioned.
We may disclose your personal information to superannuation fund trustees, insurance providers, product issuers and other third parties for the purpose of giving effect to your Financial Strategy and the recommendations made by us.
We collect information about you for the purpose of reporting to AUSTRAC under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
We may disclose your personal information to external contractors for the following purposes:
1. Strategy development
2. Compliance monitoring
In the event that we propose to sell our business we may disclose your personal information to potential purchasers for the purpose of them conducting due diligence investigations. Any such disclosure will be made in confidence and it will be a condition of that disclosure that no personal information will be used or disclosed by them. In the event that a sale of our business is effected, we may transfer your personal information to the purchaser of the business. As a client you will be advised of any such transfer.
Holistic Private Wealth will take reasonable steps to ensure that the personal information it collects, uses or discloses is accurate, complete and up to date.
Your personal information is generally held in your client file and is also held in our computer database.
We will at all times seek to ensure that the personal information collected and held by us is protected from misuse, loss, unauthorised access, modification or disclosure. At all times your personal information is treated as confidential and any sensitive information is treated as highly confidential. All paper files are stored in a secure location and where practical are stored in lockable filing cabinets. In the event you cease to be a client of this organisation, any personal information which we hold about you will be securely maintained for a period of seven years in order to comply with legislative and professional requirements, following which time the information will be destroyed.
Access to Information Collected
You may at any time, by contacting us request access to your personal information and we may provide you with access to that information. However, there are limited circumstances in which access to an individual’s personal information will be allowed. We will not provide you with access to your personal information if:
· providing access would pose a serious threat to the life or health of a person;
· providing access would have an unreasonable impact on the privacy of others;
· the request for access is frivolous or vexations;
· the information related to existing or anticipated legal proceedings between us and would not be discoverable in those proceedings;
· providing access would reveal our intentions in relation to negotiations with you in such a way as to prejudice those negotiations;
· providing access would be unlawful;
· denying access is required or authorised by or under law;
· providing access would be likely to prejudice certain operations by or on behalf of an enforcement body or an enforcement body requests that access not be provided on the grounds of national security.
If access to information is denied, Holistic Private Wealth will provide reasons for the denial. All requests for access will be acknowledged within 14 days.
Correction of Information
We will endeavour to ensure that, at all times, the personal information about you which we hold is up to date and accurate. Therefore, you are encouraged to contact us and advise of any change in your personal circumstances that may affect your dealings with Holistic Private Wealth.
Holistic Private Wealth has in place facilities to properly consider and deal with any enquiries or complaints if you believe the privacy of your personal information has been compromised. Holistic Private Wealth will respond to all complaints within seven days and aim to have them resolved within ten days where possible. Where this is not possible, you will be contacted and advised when it is likely that your complaint will be resolved.
You are entitled to obtain access to the information which we hold about you by contacting the Managing Director on 03 9707 2677 or by writing to the Managing Director at Holistic Private Wealth, PO Box 572, Port Melbourne VIC 3207.
Holistic Private Wealth has created this statement in order to demonstrate our firm commitment to privacy. The following discloses our information gathering and dissemination practices for this website: www.holisticprivatewealth.com.au
Various on-line processes requests require users to give us contact information (eg. name and e-mail address etc). We use customer contact information for commercial reasons (such as contacting the visitor when necessary).
This site may contain links to other sites. Holistic Private Wealth is not responsible for the privacy practices or the content of such websites.
The Holistic Private Wealth database is private and confidential. The database (including personal details) is for the sole use of Holistic Private Wealth. Personal customer data and information gathered for the creation of the database will not be passed to any third party by Holistic Private Wealth without the express written permission of the customer, unless it is necessary to pass on this information in order to provide a service that you have asked us to provide.
The information contained within this website is of a general nature only.
This website has been prepared by Holistic Private Wealth, and it’s underlying company Holistic Private Wealth Pty Ltd – ABN 38 383 561 396, Corporate Authorised Representative of SIRA Group Pty Ltd AFSL: 278423.
This website is provided solely for informational purposes and is not an offer to buy or sell securities, property, loans or other products. The information, forecasts and opinions set out in this document have not been prepared for any recipient’s specific investment objectives, financial situation or particular needs. Neither this website nor the information contained in it are intended to take the place of professional advice. You should not take action on specific issues based on the information contained in the website without first obtaining professional advice.
Past performance is not indicative of future performance. Projections, although based on current information, may not be realised. Information, forecasts and opinions can change without notice and Holistic Private Wealth does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained in this website, Holistic Private Wealth does not warrant that this document is free from errors, inaccuracies or omissions. Holistic Private Wealth disclaims any liability for damage or loss arising from reliance upon any matter contained in this document except for statutory liability which cannot be excluded.
No reproduction of the materials in this document may be made without the express written permission of Holistic Private Wealth. This information is provided for persons in Australia only and is not being provided for the use of any person who is in any other