This Financial Services Guide (FSG) is an important document that we are required to give you as a provider of financial services. The purpose of this FSG is to inform you of certain matters relating to our relationship, prior to providing you with a financial service.
The matters covered in this FSG include:
Whenever we provide you with advice which takes into account your objectives, needs and financial situation, you are entitled to receive a Statement of Advice (SoA).
The SoA will contain the advice, the basis on which the advice has been given and other information relating to fees, commissions and factors which may have influenced the provision of the advice.
Your Financial Advisor will always provide further advice to you in writing.
Should you require a copy of that further advice, you can request the record of the advice by contacting us by mail, phone or email within 7 years of the date your Financial Advisor gave the further advice to you.
Whenever we give you advice about the acquisition of a particular financial product (other than securities) or offer to arrange the issue of a financial product, we must provide you with a Product Disclosure Statement (PDS) relating to that particular financial product. The PDS contains important information that is necessary for you to make an educated and informed decision.
With your agreement, PDS documents may be provided to you electronically via email or CD. Alternatively, a hard copy can be provided upon request.
Your Financial Advisor is a representative of Equiti Financial Services Pty Ltd (Equiti).
If you do not wish to obtain advice, you face the risk that the financial product/s you select will not fully take into account your objectives, or financial situation.
If you do not wish to receive our advice, we may deal on your behalf by carrying out your instructions.
Equiti Financial Services Pty Ltd ABN 20 120 384 474 is the holder of an Australian Financial Services Pty Ltd Licence No. 328681 and is responsible for the advice and all financial services provided. Equiti is also responsible for the distribution of this FSG.
Equiti is not owned or operated by any institution. Equiti, Equiti Group Pty Ltd, Equiti Finance Pty Ltd, Equiti Legal Pty Ltd, Equiti Property Pty Ltd, Equiti Funds Management Pty Ltd and Equiti Capital Limited have common directorship and/or ownership.
Equiti may recommend funds managed by our associate companies Equiti Funds Management Pty Ltd and Equiti Capital Limited.
Our Financial Advisors have a different fee level for personal financial advisory services and are able to provide an individual quote of any fees payable to us following the completion of your Financial Needs Analysis.
Your Financial Advisor will disclose to you in writing in the SoA what fees we may charge you, when you have to pay, and what payments we may receive from the financial product issuer/s.
Our advice normally entails a discussion about your financial needs, concerns, objectives and strategy options with your advisor. After this meeting, a written SoA is prepared and will be presented to you at a subsequent meeting. The fee generally levied for this process and for the production of the SoA is generally $1,650. However, this fee can vary, depending on the complexity of your financial situation and your personal requirements.
After receiving your authorisation to proceed and upon implementation of our recommendation/s, an advisor fee ranging from 1.1% to 4.4% (inclusive of GST), based on the amount invested may be paid to us. For example, on a $10,000 investment at 2.5%, this fee would be $250.
We may also charge you an annual advisor fee for ongoing services we provide to you. On investment products this fee typically ranges between 0% and 1.10% per annum (inclusive of GST). As an example, on an investment of $10,000 at 1.10% the ongoing advisor fee would be $110.00 per annum.
Where we recommend insurance products, the life insurance company will pay us an initial commission and trailing commission.
Typically an initial commission can be up to 125% of the annual premium and an ongoing trailing commission of up to 40% of the annual premium. For example, if the first year’s premium is $500 and we are paid 125% of that premium, we receive $625. If the premium for the second and subsequent years is $500 and we are paid 40% of that premium, we receive $200 per annum.
For share transactions there is a minimum transaction fee of $20.50 per transaction.
If you establish and maintain a SMSF with us, you may be charged an initial establishment fee of $1650.00 (inclusive of GST) and if there is a Bare Trust required an establishment fee of $3850.00 (inclusive of GST). If you choose Equiti to do your SMSF annual administration, taxation and compliance work there is an annual fee of $2926.00 (inclusive of GST) and an additional fee of $550.00 (inclusive of GST) per Property.
All of our Financial Advisors are salaried employees who may be paid bonuses on a quarterly or annual basis. The level of this salary and bonus is dependent upon the experience and performance of the Financial Advisor.
Should you be referred to your Financial Advisor by a third party, such as an Accountant or Solicitor, the third party may receive a fee or other benefit for the referral. This fee comes out of the fees received by Equiti and does not represent an additional cost to you.
The actual percentage of revenue payable in any given case will be agreed between the referral party and the Financial Advisor. However, this amount will generally be calculated as a percentage of net revenue received by Equiti.
Equiti encourages its clients to refer members of their family and friends to our financial advisory services and has developed a ‘frequent referrers’ program, whereby clients may receive ‘points’ in return for their referrals. Accumulated points may then be redeemed by the referring client for gifts and rewards of various values.
You will receive more detailed information concerning any referral fee in your SoA or other relevant advice document.
Equiti is licenced to provide financial services and financial product advice, as authorised through Australian Financial Services Licence No. 328681
A copy of this licence can be requested.
Equiti is authorised by ASIC to provide advice and deal in the following financial products:
You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information, so that we can offer you the most appropriate advice possible.
You have the right not to tell us, if you do not wish to.
However, if you do not inform us of all your circumstances, the advice you receive may not be appropriate to your needs, objectives and financial situation.
You should read the warnings contained in the SoA carefully before making any decision relating to a financial product/s.
Equiti has Professional Indemnity Insurance in place as required by the Corporations Act and which meets ASIC’s requirements and covers present and past representatives.
We are committed to providing a high standard of client service. If, for any reason, our level of service has failed to meet your expectations, we would like you to tell us.
Our dispute resolution process is designed to ensure that any concerns you may have are taken seriously and addressed justly and without delay.
If you have a complaint about the service provided to you, you should take the following steps:
The Complaints Manager
Equiti Financial Services Pty Ltd
Level 2, 85 George Street, Parramatta NSW 2150