Build Your Wealth Pty Ltd
Why is this document important?
The purpose of this Financial Services Guide (FSG) is to help you make an informed decision about the services we offer and whether they are appropriate to meet your needs. This FSG provides you with important information on how to engage with one of our Advisers. This document is distributed by your adviser, the details of whom can be found in the attached Adviser Profile. The attached Adviser Profile is part of the Financial Services Guide.
This FSG covers the following information:
Please take the time to review this document before engaging our services.
Throughout this FSG, Build Your Wealth Pty Ltd is referred to as: “Build Your Wealth,” “we”, “us”, “our” or any variations. The term “Adviser” refers to Build Your Wealth’s authorised representatives.
Our responsibility
Your Adviser provides financial advice and services on behalf of Build Your Wealth and accordingly we are responsible for the financial advice and services they provide.
Our Advisers are committed to providing quality financial advice and a wide choice of products and/or services to suit individual client circumstances.
Your Adviser is obliged by law to act in your best interests and provide appropriate advice, when providing financial advice to you.
As part of our commitment to you, Build Your Wealth advisers adhere to the Codes of Ethics/Conduct of professional associations such as the Financial Planning Association of Australia and the Australian Financial Complaints Authority.
The adviser profile
Prior to providing any personalised financial advice products and/or services our Advisers are required to provide you with a copy of this FSG, attached is an Adviser Profile.
The Adviser Profile contains important information about your Adviser. This includes their Authorised Representative number and/or Corporate Authorised Representative number, accreditations, qualifications and experience, areas of advice and types of financial services they can provide, details of how they get paid and fees that you may be charged.
If you have not received an Adviser Profile, please ask your Adviser for a copy or contact us using the details on page 5.
What we can provide
Build Your Wealth is licensed to provide financial product advice on the following services:
We can advise in the following products:
Build Your Wealth maintains an Approved Product List (APL). Subject to attaining required accreditation, your Adviser is able to recommend any product on the Build Your Wealth APL.
Documents you may receive
If you decide to obtain personal financial advice, your Adviser will need to determine your needs, objectives and relevant financial circumstances.
At the initial advice appointment, your Adviser will typically gather the relevant information by using a client data collection form. You will be asked to provide accurate information about your personal and financial situation and keep your Adviser informed of any changes to your relevant circumstances.
Your Adviser will also need to verify your identity.
When your Adviser provides personal financial advice to you, you may receive one or more of the following documents:
The SoA will set out the advice that has been tailored to your specific circumstances and provide you with details of all relevant disclosures including details of any remuneration payable.
If further advice is furnished, or when no financial product is recommended, an RoA may be provided to you instead of an SoA.
A PDS may be provided if a product recommendation is made and includes detailed information on the financial product including features, benefits, conditions, costs and cooling off rights.
An FDS will be issued to you in instances where you enter into an Ongoing Fee Arrangement with your Adviser for a period greater than 12 months. The FDS will contain information about the services you were entitled to receive, the services you actually received and the fees you paid during the period. This will be provided to you annually.
Your adviser may also issue a Renewal Notice every 2 years. This gives you the option of renewing the ongoing fee arrangement.
You may request in writing a copy of any advice document up to seven (7) years after the advice has been given
How to give instructions
You may specify how you would like to give us instructions, for example by telephone, email, fax or other means. In all cases we must receive a written confirmation of these instructions.
Adviser remuneration
The cost of providing a financial product or service to you will depend on the nature and complexity of the advice. Generally, whenever your Adviser provides a recommendation for a financial product or service, your Adviser may be remunerated through either:
Our current hourly rate is from $350 plus GST per hour. Our statement of advice base fee ranges upward from $1,980 (Includes GST).
To make it easy for you, you have a choice of how to pay our fee. You can either be invoiced directly, or you can authorize for our fee to be direct debited from your bank account or debited directly from funds invested.
You may be charged an ongoing service fee. This fee will be dependent on the service levels required to provide
ongoing advice, regular reviews and professionally manage your financial plan to ensure that you are kept up to date and your strategies remain current. Our ongoing service fee starts from $2,970. This fee can be paid via monthly or quarterly direct debit from you bank or investments.
Prior to preparing any advice or providing financial services to you, we will discuss and agree upon all fees that will apply.
The upfront revenue for risk insurance financial products can range between 0% and 88% (incl GST).
Depending on the product provider, while ongoing revenue may range between 0% and 40% (incl GST).
Licensee remuneration
The exact amount of any fee, commission, bonus or other incentive received by Build Your Wealth will be included in your Statement of Advice.
Referrals
Should you be referred to your adviser by a third party, such as an Accountant or Mortgage Broker, the third party may receive a fee for the referral. You will receive more detailed information concerning any referral fee in your SoA or other relevant document.
Other forms of remuneration or benefits
Build Your Wealth and/or its Advisers may receive non-monetary benefits where:
Payments or benefits received are disclosed in a register. A copy of the register is available upon request.
Related companies
Neither your Adviser nor the Licensee have any association or relationship with the issuers of financial products that might reasonably be expected to be capable of influencing them in the provision of financial services.
Professional Indemnity
Build Your Wealth holds Professional Indemnity Insurance cover for the activities conducted under the AFS licence. The limit of the indemnity is $2.5 million for anyone claim and in the aggregate for all claims arising out of our AFS licence activities. The insurance will cover claims made in relation to the conduct of authorized representatives, representatives and employees of the Licensee who no longer work for the Licensee (but who did at the time of the relevant conduct). We believe that our Professional Indemnity Insurance cover satisfies the requirements of s.912B of the Corporations Act.
When you get our advice
Do I get detailed information about actual revenue and other benefits my adviser gets from making the recommendations?
Yes. You have the right to know about details of revenue and or other benefits your Adviser receives for recommending investments. We will provide this information to you when we make specific recommendations in the Statement of Advice (SoA) or Record of Advice (RoA).
Will you give me advice that is suitable to my needs, objectives and financial circumstances?
Yes. However, to do so we need to find out your individual objectives, financial situation and needs before we recommend any financial product 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 us not having your full personal information. You should read the warnings carefully.
What should I know about any risks of the investments or investment strategies recommended to me?
We will explain to you any significant risks of investments and strategies that we recommend to you. If we do not do so to your requirements, you should ask us for further clarification.
What information do you maintain in my file and can I examine my file?
We maintain a record of your personal profile that includes details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you. If you wish to examine your file, please ask us and we will make arrangements for you to do so. We are committed to implementing and promoting a Privacy Policy, which will ensure the privacy and security of your personal information. A copy of our Privacy Policy is available for your information on our website at www.buildyourwealthaustralia.com.au
Can I tell you how I wish to instruct you to buy or sell my investment?
Yes. You may specify how you would like to give us instructions, for example by telephone, email, fax or other means. In all cases we must receive a written confirmation of these instructions.
Reporting your concerns
If you have a complaint about any financial service provided to you by your Adviser, you should take the following steps:
Phone 1300 657 571
Email admin@teamsuper.com.au
Mail Build Your Wealth
PO Box 385
Campbelltown NSW 2560
2. We will acknowledge receipt of a complaint immediately, however, where this is not possible, acknowledgement will be made as soon as practicable.
The contact details for AFCA are:
Phone 1800 931 678 (free call)
Online www.afca.org.au
Email info@afca.org.au
Mail GPO Box 3
Melbourne VIC 3001
Furthermore, the Australian Securities and Investments Commission (ASIC) has a free of charge info-line on 1300 300 630, which you may use to obtain information about your rights and to make a complaint.
CONTACT US
Build Your Wealth
Address: Suite 1/143 Queen Street, Campbelltown NSW 2560
Postal: Po Box 385, Campbelltown NSW 2560
Telephone: 1300 657 571
Facsimile: 02 4627 6493
Email: admin@teamsuper.com.au
Website: www.buildyourwealthaustralia.com.au
For more information:
Please visit moneysmart.gov.au for more information on financial advice.