Version 7.0 (04.2023)
About this guide
This policy applies to Wealth Partners Holdings Pty Ltd, and all our representatives. It explains our policy in relation to the collection and management of personal information we collect from individuals. The Privacy Act 1988 requires us to handle personal information in accordance with the Australian Privacy Principles.
About this guide
This Financial Services Guide (FSG) is intended to provide you with important information prior to us providing you with a financial service. The FSG is designed to assist you with making an informed decision when engaging our services. It addresses information regarding;
- Our services and our advisers, including products and services we are authorised to provide.
- How we charge for our services and how we remunerate our advisers.
- Any referral relationships or potential conflicts of interest.
- What you can do if you want to request information that we hold about you and if you are unhappy with our service, including compensation arrangements that are in place.
Please retain this guide for your reference and for any future dealings with Websters Wealth Partners.
Information you may receive
If we provide you with advice about your personal circumstances, we will set out our advice in a Statement of Advice (SOA) . Within this document we will disclose any reasoning which led to the advice and how we will be remunerated for our advice to you.
If we recommend a financial product to you, we will also provide you with, or pass on to you, a Product Disclosure Statement (PDS), unless you already have an up to date PDS from the product issuers. The PDS will contain information about the particular product, which will enable you to make an informed decision about purchasing that product.
Where you are provided additional advice and where your initial circumstances have not changed or are not significantly different, your adviser may provide you with further advice either verbally, or in writing as another SOA or a summarised 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. The request can be directed to the contact details as listed at the conclusion of this FSG and need to be made within 7 years of the date of advice.
Who is my adviser?
The financial services referred to in this FSG are offered by Webster’s Wealth Partners Pty Ltd ATF Wealth Partners Trust (ABN 19 854 221 634) (Webster’s Wealth) as Corporate Authorised Representative (1241547) of Wealth Partners Holdings Pty Ltd (ABN 90 620 676 440) (Wealth Partners). Your advisers are employees of Webster’s Wealth and also appointed as representatives of Wealth Partners, please refer to our website at www.websterswealth.com for an introduction to our advisers. Websters Wealth advisers, as representatives of Wealth Partners, always act for you, our client, when providing our services.
Who is responsible for advice provided to me?
Wealth Partners, as holder of an Australian Financial Services Licence No. 501929, is responsible for the financial services provided by Webster’s Wealth and their advisers, including the authorisation and distribution of this FSG. Both Wealth Partners and Websters Wealth Head Office is located at Shop 4, 246 Arthur Street, Newstead QLD 4006 and can be contacted by calling (07) 3169 2221 or visiting www.websterswealth.com
What Services and Products are offered by our advisers?
Webster’s Wealth advisers can offer a range of insurance, investment, superannuation and retirement strategies and products and platforms. We have been authorised by Wealth Partners to provide financial advice and dealing services to retail and wholesale clients on the following classes of financial products:
- Basic deposit and non-basic deposit products
- Risk insurance, including income protection, life insurance, total and permanent disability insurance and trauma insurance
- Investment life insurance products
- Superannuation, pensions and retirement savings accounts
- Investor directed portfolio services
- Structured and listed investments
- Managed investments (including managed investment warrants)
- Securities
- Government debentures, stocks and bonds
- Business key person insurances
- General Insurance
We offer the following strategies:
- Financial planning
- Tax structures appropriate to your investments and tax planning (in consultation with your tax advisers)
- Estate planning
- Business succession planning
- Insurance and risk management
- Pre and post retirement planning
- Social security (Centrelink) and aged care planning and advice
- Investments
- Self-managed superannuation funds
- Wealth accumulation
- Superannuation and consolidation advice
- Direct share investment advice
- Asset allocation and management advice
- Ongoing advice and review services
Specifically, Wealth Partners does NOT provide advice on Mortgage Broking, Legal Document Drafting (wills), Tax Agent services, Real Estate and Business Coaching.
Wealth Partners maintains an approved product list, containing selected financial products that are worthy of recommendation to our clients, that have been researched by an external research house from a broad range of financial products. Wealth Partners also review this approved product list regularly to ensure the approved products remain competitive. A copy of the approved product list can be supplied to you upon request.
It is important to note that in order to engage Wealth Partners services, you must agree to the subject matter of advice/scope of advice and instruct your adviser to provide services or advice to you. Your adviser will inform you when these instructions need to be in writing and can accept your instructions during a meeting, face to face, via telephone, fax or email.
What initial services are provided?
Upon offering financial advice we will provide you with an advice and disclosure document that will help you to assess our recommendations and determine whether you wish to rely on our advice. Prior to giving you advice we will make reasonable enquiries about your current financial situation and future needs to ensure we provide appropriate advice aligned to your particular circumstances.
Your financial adviser is required by law to request and record details about your objectives, financial situation and needs. You are entitled to share with us as much or as little as you choose however, should you choose not to provide full disclosure and where the service relates to financial products, we will need to make you aware about the possible consequences of the advice limitations so that you can make up your own mind if you will proceed.
What ongoing services are provided?
- Review of your personal and financial situation at suitably regular intervals
- Investigation and discussion with you as to the continuing appropriateness of our recommendations, in light of any material changes to your circumstances or legislative environment.
- Additional services as discussed and agreed with you as part of our ongoing service to you.
- Implementation of any changes or new recommendation made.
Annual Renewal of Ongoing Services
Every year upon engaging with our ongoing services, you will receive a Fee Disclosure Statement. This will state the existing arrangement that you hold with your adviser, anticipated fees for the next year and offer you to renew your arrangement for a further year. If you do not decide to renew your arrangement within the statutory timeframes as set out by the Corporations Act, the arrangement will terminate.
How will you pay for the services provided?
The cost to you will be based on the complexity of the advice and the time required in preparing the advice. We will discuss and agree with you on the costs associated with our services prior to undertaking any work on your behalf. At any time may request further details from us about these arrangements.
You may pay us an initial upfront fee, which is dependent on the nature of services we provide and may be calculated as follows: (all fees/rates quoted are inclusive of GST)
Hourly rate: up to $475/hour
Flat fee: $3,960 to $12,000
Alternatively, for insurance services we may receive a payment called brokerage/commission, which is paid to us by the financial product issuer calculated as a percentage of the policy premium (less any government fees or charges).
Initial Commission: Up to 66%
Ongoing Commission: Up to 22%
For example, if your first year’s premium is $500 and we receive 66% initial commission, we will be paid $330. If the premium for the second and subsequent years was $500, and we received 22% ongoing commission, we will be paid $110 per year for the life of the policy.
These commissions are included in the premium of the policy and are not an additional cost to you.
We will give you a disclosure/advice document containing details of our fees and any payments made to us by a financial product issuer. If you proceed with the recommendations provided in the SOA and implement the advice provided, an implementation fee may also be charged.
Ongoing fees may be structured as follows, dependent on the complexity of your situation and the service package agreed to as part of the service agreement:
Flat Fee: From $3,960/year
Percentage: 0.5%-1.5% (of funds managed)
For example, for $100,000 under management at a rate of 1% the ongoing service fee will be $1,000/year.
All fees and commissions are payable to Wealth Partners Holdings Pty Ltd.
Prior to the commencement of any of the above services, a service agreement will be provided which will outline the services you have requested, and the payment method agreed upon. The available payment options are outlined below and may be paid with your own funds or deducted from your investment or superannuation fund.
What information is maintained in my file and can I examine my file?
We will maintain a record of your personal information including details of your objectives and financial situation. We will also maintain a record of any recommendations made to you, implementation documentation, working papers, file notes and any other documents relevant to your circumstances and our services, including this FSG.
As a financial service provider, we also have obligations under the Anti-Money Laundering and Counter Terrorism Financing Act. This means that we may need to collect, verify and retain identification and/or entity registration documents. This information will be stored securely, in accordance with the Privacy Policy.
Wealth Partners and we are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. A copy of Wealth Partners’ Privacy Policy is available on request. A copy is also available on our website at www.websterswealth.com. If you wish to look at your file, please ask us. We will arrange for you to do so.
Managing conflicts of interest
Wealth Partners and Webster’s Wealth provide a comprehensive range of financial services. Our advisers bring specialist expertise to bear and apply this expertise to helping you understand and manage complexity.
Any recommendation will be based on an assessment of your personal circumstances, needs and objectives unless you are utilising our general advice service, where your personal circumstances will not be taken into consideration. We will ensure you are aware if this is the case. In addition, all products approved for us by our advisers must first undergo a rigorous selection process. These factors underpin our advice, but it is important for you to appreciate that our interests, associations, relationships and the benefits we receive – such as commissions – may give rise to an actual or potential conflict of interest.
Adviser Benefits
Our advisers that will assist you will be paid a market based salary and may also be entitled to bonuses or incentives for achievement of set targets or key performance indicators. Any targets or performance measures will be a balanced scorecard approach and not solely based on sales.
From time to time our advisers may receive certain ‘hospitality benefits’ (such as tickets to sporting events, movies, meals etc.). The receipt of these benefits is not based upon the volume of business placed with the provider but is more of an ad hoc reward. Details of these are available on a specially maintained Register which is available for your viewing upon your request.
We manage and will clearly disclose any conflicts that we believe may influence our advice to you in our advice/disclosure documents. This includes ownership arrangements in related entities as outlined below.
Related Parties/Entities
Wealth Partners Holdings management, Andrew and Stephanie Ferguson, have an association with:
- Webster’s Property Partners Pty Ltd (ABN 16 601 465 785) which provides Real Estate Agency and Property Management services.
- Property Partners Lending Pty Ltd ATF Property Partners Trust (ABN 31 786 019 213) which provides Mortgage Broking services.
As a result of these associations, related entities of Wealth Partners management may receive benefits such as profit and/or Director distributions as a result of any services provided by these firms. Any specific benefits likely to arise as a result of any financial advice or referral provided to you will be disclosed in a Statement of Advice or Record of Advice at the time it is provided.
Referral Relationships
Wealth Partners Holdings management, Andrew and Stephanie Ferguson, have an association with:
- Webster’s Property Partners Pty Ltd (ABN 16 601 465 785) which provides Real Estate Agency and Property Management services. Andrew and Stephanie Ferguson act in a management, licensing and trustee capacity for this firm, and have an ownership interest in the firm via a related entity.
- Property Partners Lending Pty Ltd ATF Property Partners Trust (ABN 31 786 019 213) which provides Mortgage Broking services. Andrew and Stephanie Ferguson act in a management and trustee capacity for this firm and have an ownership interest in the firm via a related entity.
As a result of these associations, Andrew and Stephanie Ferguson may receive benefits such as profit and/or Director distributions as a result of any services provided by these firms. Any specific benefits likely to arise as a result of any financial advice or referral provided to you will be disclosed in a Statement of Advice or Record of Advice at the time it is provided.
What should you do if you have a complaint or wish to contact us?
We are committed to providing quality advice to our clients, which extends to providing accessible complaint resolution mechanisms for our clients. If you have any concerns about the service provided to you, please contact our office using the contact details provided below.
We will aim to resolve your complaint promptly and in a fair manner. If the complaint cannot be resolved to your satisfaction within 30 days, you have the right to refer the matter to the Australian Financial Complaints Authority (AFCA) of which Wealth Partners is a member. AFCA provides an independent complaint resolution services that is free to consumers. Any decision AFCA makes is binding on us but not on you. AFCA can be contacted by calling 1800 931 678, writing to GPO Box 3, Melbourne, VIC, 3001 or emailing AFCA at [email protected].
| Wealth Partners Holdings Contact details | ||
| Address to | Management, Wealth Partners Holdings | |
| Address | Shop 4, 246 Arthur Street, Newstead QLD 4006 | |
| Telephone | 07 3169 2221 | |
| Fax | 07 3112 5939 | |
| [email protected] | ||
For further information about what to expect as part of the complaints handling process, please see our Complaints Guide which is available upon request or from our website www.websterswealth.com.au.
What compensation arrangements are in place?
Wealth Partners has a professional indemnity insurance policy (PI policy) in place which satisfies the requirements of section 912B of the Corporations Act 2001. The PI policy covers Wealth Partners and its representatives (including Webster’s Wealth and our advisers) for claims made against us by clients as a result of our conduct in the provision of financial services. The PI policy will also cover us for claims relating to the conduct of former representatives who no longer work for us.
If you have any further questions about the financial services Webster’s Wealth provide, please contact your adviser or Wealth Partners on the above information.