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Financial Services Guide |
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Financial security is of vital importance Your financial security will play an important role in the quality of life experienced by you and your family in the years to come. Australian Financial Services Limited (AFS) is a national financial advisory group, and JM Financial Planning is a Member Firm. Our role is to provide the advice, services, products and carefully planned strategies you need to reach your financial goals and objectives. This Financial Services Guide (FSG) is intended to inform you about JM Financial Planning and our relationship with you before we provide you with financial advice. It is intended that this FSG should assist you in deciding whether to use any of the services provided by JM Financial Planning. It contains information about remuneration that may be paid to AFS, JM Financial Planning and other relevant persons in relation to the services offered. It also contains information on how we handle your personal information and how complaints against the Advisers are handled. About Australian Financial Services AFS is the holder of Australian Financial Services licence number 297239. Under the Corporations Act, their primary responsibility is to you, our client. JM Financial Planning and AFS are responsible for the advice given. AFS and JM Financial Planning provides its clients with a continuity of service and the security that business decisions are made with you, the client in mind without influence of Corporate or Institutional ownership. Education and knowledge for your security You want to be sure that the advice you receive is up-to-date and accurate. Whilst the advisers of JM Financial Planning have many years of practical experience, continuing education is a requirement of AFS, JM Financial Planning and the industry regulator. Full details of our advisers’ experience and expertise are set out in the attached Adviser Profile and Practice Statement. Research for your peace of mind AFS Advisers provides its Advisers with a comprehensive and research driven Approved Product List from which they can choose a product suited to your needs. The recommended Investment Products are subject to an approval process that includes external research and analysis and are sourced from over 50 leading fund managers. Insurance products are sourced from all the major insurers and are examined not only for their policy wording, product benefits and competitive cost structures but for their long term market presence. Service and advice to meet your requirements JM Financial Planning can provide a whole range of services from comprehensive financial planning to personal advice on selected products. The advice and services we provide fall into three broad categories. · Strategy Advice. One of the most important things we do for you is to match our recommended strategies with your goals and objectives. Whether you require a strategy to protect your family, or save for a specific goal such as children’s education or retirement we will tailor a strategy to your needs. · Investment Advice. JM Financial Planning is able to provide advice on managed funds, shares and debentures as well as superannuation advice. · Insurance. JM Financial Planning is authorised to advise on a wide range of insurance products such as Life, Trauma, Income Protection and Disability insurance. JM Financial Planning may provide general advice or personal advice. Before providing personal advice, we will want to ensure that the advice is appropriate and suitable for your needs. To do so they will need to find out about your current financial position and your financial goals and objectives. You have the right not to divulge this information should you not wish to. If so, the advice may not be as suitable for your needs and objectives and this should be taken into account before acting on the advice. In providing personal advice, we will explain any significant risks relating to any financial products or strategies recommended. If you do not understand these risks you should ask us to explain them to you. If you have been provided with personal advice, JM Financial Planning will provide you with a Statement Of Advice (SOA), Statement of Additional Advice (SOAA) or Record of Advice (ROA), which will take into account your objectives, financial situation and needs. The SOA or SOAA must be given to you before you make any investments or buy an insurance policy, unless you expressly request that the investment be made or the insurance policy be purchased before you receive the SOA. If a financial product recommendation has also been made, you will be provided with access to a Product Disclosure Statement (PDS) containing information about the product that will enable you to make an informed decision about the appropriateness of the product. Preferred Business Partners, Alliances and Sponsors AFS maintains Preferred Business Partner arrangements with many leading companies who provide us with access to products on favourable terms. This relationship is beneficial to AFS, JM Financial Planning and our clients. AFS also provide training at professional development days and at their annual conference for which our partners make a financial contribution. Please note that the inclusion of a product or service on our recommended list is not dependent on support from a product supplier. JM Financial Planning’s SOA will disclose these arrangements when it is presented to you. AFS also maintain Strategic Alliances with selected businesses that have been chosen to complement the products and services available from AFS Advisers. These include Mortgage Providers, General Insurers, Accounting and Legal service providers and we will provide further details should a referral be appropriate. How is your personal information dealt with Your personal information that we have collected is contained electronically in your file. This includes information about your financial objectives and also contains the recommendations made to you. If you wish to examine your file you should ask JM Financial Planning, who will make arrangements for you to do so. Privacy Policy In order to comply with the requirements of the Privacy Act, we are required to advise you that JM Financial Planning holds personal information about you. The information has been and will continue to be collected by us for the purpose of providing you with financial services including: 1. the preparation of your financial plan; 2. the provision of financial planning advice to you; 3. making securities and investment recommendations; 4. reviewing your financial plan; 5. reviewing securities and investment recommendations; 6. and other related matters We are required, pursuant to the Corporations Act, certain regulations issued by the Australian Securities and Investment Commission and the Rules of Professional Conduct of the Financial Planning Association, of which AFS is a principal member, to collect information about you for the purpose of providing you with the services referred to above. We will from time to time disclose information about you to other professionals, insurance providers, superannuation trustees and product issuers in connection with the purposes detailed above. We may also be required by law to disclose your personal information to government agencies, including the Australian Taxation Office, the Australian Transaction Reports and Analysis Centre (Austrac) or a court of law. In the event we consider it necessary to use or disclose information about you to a third party, we will seek your consent. What happens if you have a complaint? AFS is serious about providing a quality service and is a member of the Financial Ombudsman Service (FOS). FOS is an independent body which has been approved by the Australian Securities and Investments Commission (ASIC) to deal with complaints against its members. If you have any complaint about the service provided to you, you should take the following steps. · Contact JM Financial Planning and tell them about your complaint. · If your complaint is not satisfactorily resolved within seven days, please contact the Head of Compliance at AFS in writing at PO Box 630 Collins St West PO, Melbourne, Vic 8007. AFS will try and resolve your complaint quickly and fairly. · If you still do not get a satisfactory outcome within 45 days, then the procedure is as follows… Send your complaint to FOS at GPO Box 3, Melbourne, Vic 3001. Their free call number is 1300 78 08 08. The complaints service is free of charge to you. The Australian Securities and Investments Commission (ASIC) also has a free call Infoline on 1300 300 630 which you may use to make a complaint and obtain information about your rights. In the event it is ever necessary, AFS holds a Professional Indemnity Policy that meets the requirements of The Corporations Act. The Policy includes coverage for the advice given by JM Financial Planning whilst an AFS Authorised Representative even if they are no longer authorised by AFS or have left the industry. Fees and Charges JM Financial Planning can receive payment for their services in a number of ways. Clients may be asked to pay a fee for service, or a charge for the amount of funds that the advice covers or alternatively, JM Financial Planning may receive brokerage or commission which is paid by a financial product provider. Advisers may also choose to offer a mix of methods to suit your needs. Your SOA will contain full details of all fees and charges and benefits accruing to the Adviser together with disclosure of any associations which might influence the provision of that advice. If an up front fee is to be charged for the preparation of this advice then it will be disclosed prior to you incurring that fee. Initial Interview At this meeting, we will gather all pertinent information as to your personal situation and ascertain the scope of the work to be carried out. At this interview, we will gather all the pertinent facts about you, your goals and objectives. We do not charge you up to this point. When You Become a Client Our complete investment service combines our strategic advice with the production and implementation of a full financial plan. For this you will pay an initial fee. The minimum fee payable will depend on which service level you select. Our service levels and minimum fees are defined later. What Does my Fee Cover? For all service levels, our fees cover: · Formulation of strategies · Plan preparation · Research on funds · Implementation of plan strategies · Administering investments, superannuation and insurance covers |