This Financial Services Guide (“FSG”) contains important information about:
- Who we are
- The services we offer you
- How we and our associates are paid
- Any potential conflict of interest we may have
- Our internal and external dispute resolution procedures and how you can access them
What happens when we give advice?
Our advisers will only provide advice to you after considering your individual objectives, financial strategies and needs.
Your adviser will present you with a ‘Statement of Advice’ (SoA) which confirms the planning conversations that have taken place. The SoA goes through each recommendation and ties it back to your lifestyle goals and objectives, with explanations as to why the recommendations will help you achieve them. It also outlines any risks, fees associated with the advice and our associations with any product providers.
Before any advice strategies are implemented you must be comfortable with the recommendations provided and give us an authorisation to proceed.
On an ongoing basis, a Record of Advice (RoA) will be prepared if there have been no significant changes in your personal circumstances or the basis of the advice has not significantly changed since your last Statement of Advice. You have the right to request a copy of your RoA at any time at no cost to you.
Who is Strategic Wealth Solutions Pty Ltd?
Strategic Wealth Solutions Pty Ltd (SWS) ABN 83 108 131 871 holds an Australian Financial Services Licence No. 273368 and is responsible for the advice provided by its Authorised Representatives. Strategic Wealth Solutions is a principal member of the Financial Planning Association (FPA), we are fully committed to the FPA’s Code of Ethics and Rules of Professional Conduct.
SWS is a wholly owned subsidiary of the AMP Group, a leading solutions provider and investment manager. The following entities are also part of the AMP Group and as such are affiliated with SWS:
- The National Mutual Life Association of Australasia Limited
- National Mutual Funds Management Limited
- NMMT Limited
- N.M. Superannuation Pty Limited
- ipac asset management limited
- Multiport Pty Ltd
- AMP Bank Limited
- AMP Capital Investors Limited
- AMP Superannuation Limited
- AMP Life Limited
- AMP Group Financial Services Limited
What services do we offer?
Strategic Wealth Solutions specialises in helping our clients identify and achieve what’s important to them throughout their lifetime.
Our team of highly qualified financial strategists assists in the achievement of financial goals and support desired lifestyles by:
- Providing tailored strategic solutions to complex financial issues through a disciplined, planned and monitored approach.
- Providing peace of mind for clients by keeping them well informed so that their journey is worry-free and smooth
- Providing advice which is unbiased and free of any corporate self interest
- Utilising the latest global technology to analyse the return characteristics of the many investment options available.
Our individually tailored plan can guide you to:
- Create tax effective income in retirement
- Protect wealth
- Create, accumulate and manage wealth
- Enjoy your wealth, and
- Transfer wealth.
We are licensed to implement our recommendations to you through the use of:
- Cash Management Trusts (CMT)
- Managed Investments
- Superannuation
- Self Managed Superannuation Funds
- Retirement Income Streams
- Deposit taking facilities
- Portfolio administration services
- Listed Securities
- Life Insurance
- Margin Lending
Strategic Wealth Solutions Pty Ltd is not authorised to provide advice on Derivatives, General Insurance and Direct Property.
Who is your Adviser?
The financial services referred to in this FSG are provided by:
Michael John Sheekey – Authorised Representative Number 269292
Andrew James Pain – Authorised Representative Number 269296
Brendan Stuart Burrows – Authorised Representative Number 269295
David Garrick – Authorised Representative Number 333444
Kelly Lindsell – Authorised Representative Number 241840
Robert Frogley – Authorised Representative Number 223417
Aaron Chew – Authorised Representative Number 408833
Product recommendation
While there may be other products and services suitable for you, we only advise and deal with products and services that have been researched and approved by SWS and are on our Approved Product List. Please ask your adviser for a copy of this list if you want more information.
If you are recommended a product or investment, you will receive a Product Disclosure Statement (PDS) that tells you about the key features, risks, benefits and fees associated with the product. It will help you to make a decision about the product. To invest in any of our financial products you must complete the application form attached to the PDS.
We have a preference for recommending well diversified portfolios to meet our client’s needs. Our investment committee uses in-depth research and stringent fund manager selection process to ensure that quality investment outcomes are achieved.
Your adviser has direct access to information on how the portfolios are managed. This gives them greater insight into how the portfolio investment strategies impact your overall financial plan.
How you pay for our services?
Strategic Wealth Solutions is paid through a combination of initial and ongoing advice fees. Our fees are either deducted from your investments or invoiced to you directly. Further information about theses fees, including details of actual amount of any payment we receive, will be disclosed in detail to you in the Statement of Advice. All fee examples below assume your balance stays the same throughout the year.
Financial Advice Fees
Financial Planning fee
We may charge you a financial planning advice fee for the preparation of Statement of Advice. The fee depends on the time we spend in gathering information about your personal and financial needs and developing your Statement of Advice. The fee may be in the range of $1,000 up to a maximum of $11,000 including GST.
Implementation fee
We may charge you an implementation fee for implementing our recommendation. The cost of implementation will vary depending on the complexity of the strategy and the time it takes to implementing the recommendation. This fee will be within a range of a minimum of $275 and with a maximum of $5,500 including GST.
Ongoing Advice Fee
You will be charged an ongoing advice fee to manage your investment. This fee is calculated with consideration to the complexity of your portfolio and advice required, the ongoing advice fee will be within a range with the minimum of $2,200 or 1.10% pa of the end-of-month balance of your Funds Under Management (FUM) which ever is greater excluding GST.
For example, where you have invested $600k with us, the total fee payable may be $6,600 per annum or where you have invested $100k with us, the minimum fee payable may be $2,200 per annum excluding GST. The maximum ongoing advice fee for this range is $100,000 excluding GST.
Note: Your unique fees will be fully described in your Statement of Advice.
The above fees may be deducted from the investments, for new account from 1 December 2010, this may appear on your statement as ‘member advice fee’ or ‘client advice fee’ depending on which financial product you invest in.
Investment Product Fees
Investment Management fee
This fee is received by the product provider for the day-to-day management of your investments. It is calculated as a percentage of each investment in your portfolio and is included in the unit price. The relevant Product disclosure Statement (PDS) details these fees ranging from 0% to 2.88% pa depending on the financial product.
Portfolio Administration fee
This fee is received by the product provider for the day-to-day administration of your investments. It is calculated as a percentage of your total portfolio and is deducted monthly from your account. The relevant product Disclosure Statement (PDS) details these fees ranging from 0% to 1.46%.
For example: Assume you invest $400,000. Your investment management fee, depending on the type of financial product selected would be up to a maximum of $11,520 pa and your portfolio administration fee would be up to $5,840 pa.
Other fee
You may incur other fees relating to your products, such as performance fees, buy/sell spreads, trustee fees, switching fees and withdrawal fees. The relevant Product Disclosure Statement (PDS) details these fees.
What payments we receive from product providers?
These payments are not additional cost to you but are paid to SWS by the product provider.
Investment Products
From 1 July 2001, SWS has decided not to receive any initial and ongoing payments on investment products from any product providers.
If we have recommended an investment product prior to 1 July 2001, we may be entitled to receive initial payment of up to 4.0% of the additional amount invested in the same investment product and ongoing servicing payment of 0.6% p.a. of the total amount invested. For example, assume you invested $300,000 prior to 1 July 2001 and you make an additional deposit of $100,000 into the same investment product, the product provider may pay us maximum of $4,000 initial payments on the additional deposit and $2,400 pa on the total amount invested.
Insurance products
SWS has entered into an exclusive arrangement with a specialist risk advice provider, Australian Financial Risk Management (AFRM), AFS Licence 237186, for risk insurance advice on behalf of SWS.
AFRM is an insurance firm established in 1997 and their focus is solely on insurance. They have a depth of resources and expertise to identify any potential insurance risk and help protect your family and your assets on an ongoing basis.
AFRM may pay SWS a referral fee of up to 40% of the revenue it receives for the period the policy is current, which includes initial and ongoing advice fees paid by you or payments from the risk insurance provider.
For example: if your insurance premium is $1,000 pa, AFRM may receive up to 130% ($1,300) initially and up to 33% ($330) for each year that you hold the product. Of this SWS may receive an initial payment of $520 and $132 in subsequent years.
Referral arrangements
When we refer you to another service provider or if another service provider refers you to us, SWS may receive or pay referral fee for this referral. We will disclose this payment in the Statement of Advice.
How is my Adviser paid?
Your adviser is remunerated by a salary and bonus of up to a maximum of 25% of revenue generated to SWS. Your adviser must meet our professional and technical standards to qualify for a bonus based on their contribution to the profitability of SWS. Your Statement of Advice provides detail of any remuneration your adviser will receive.
Alternative remuneration
We maintain a register that records any forms of alternative remuneration that your adviser may receive. This is available to you upon request.
What information do I need to provide?
You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information to implement advice. We may also ask for supporting documents where possible.
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.
What information do you maintain in 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.
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 upon request.
If you wish to examine your file please ask us. We will make arrangements for you to do so.
How can I give you instructions?
You may tell us how you would like to give us instructions. For example by mail, telephone, fax or other means such as e-mail.
Professional Indemnity Insurance
Strategic Wealth Solutions maintains Professional Indemnity insurance policies on behalf of your adviser. These policies cover advice, action and recommendations which your adviser has been authorised by Strategic Wealth Solutions Pty Ltd to provide you. These arrangements satisfy the requirements imposed by the Corporations Act 2001 and financial services regulations.
Privacy
We maintain a record of your client questionnaire which includes details of your investment objectives, financial situation and needs. We also maintain records about any recommendations we make to you. We aim to protect the privacy and security of the personal and financial information you give us. Keeping this information private is very important to us. If you want to access your personal information at any time, please let your adviser know.
Our Privacy policy explains strict confidentiality arrangements and our commitment to protecting your personal information.
We are required under the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) 2007 to implement client identification process. This means we will ask you to present identification documents such as passports and driver’s license in order to meet this obligation. We will also retain copies of this information and assure you that this information will be held securely.
What should I do if I have a complaint?
If you have any complaints about the service provided to you, you should take the following steps.
1. Contact your adviser about your complaint.
2. If your complaint is not satisfactorily resolved within 3 days by your adviser, please contact Gregory Allen on (02) 9633 5255 or put your complaint in writing and send it to us at Strategic Wealth Solutions, P O Box 3275 Parramatta NSW 2124. We will try and resolve your complaint quickly and fairly.
3. If the complaint can’t be resolved to your satisfaction within 45 days, you have the right to refer the matter to the Financial Ombudsman Service (FOS). Strategic Wealth Solutions is a member of FOS. They can be contacted on 1300 780 808 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or you can write to them at GPO Box 3 Melbourne Vic 3001.
4. The Australian Securities and Investments Commission (“ASIC”) also has a freecall Infoline on 1300 300 630 which you may use to lodge a complaint and/or obtain information about your rights.
Strategic Wealth Solutions Pty Ltd offices:
| HEAD OFFICE | SYDNEY CITY OFFICE |
| Level 5, | Level 31, Grosvenor Place |
| 69 Phillip Street | 225 George Street |
| PARRAMATTA NSW 2150 | SYDNEY NSW 2000 |
| Tel: (02) 9633 5255 | |
| Fax: (02) 9633 5299 | |
| Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it | |
| Website: www.strategicwealthsolutions.com | |
| Postal Address: PO Box 3275, Parramatta, NSW 2124 | |
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