Financial Services Guide

Provided by

Proacct Plus Wealth Solutions Pty Ltd as Trustee for Proacct Plus Wealth Solutions Trust ABN 78 417 085 898 Authorised Representative No. 1306389 (Proacct Plus Wealth Solutions)

Anthony Joseph Torzillo Authorised Representative No. 277135 (Anthony)

Luigi Gino Nardella Authorised Representative No. 284332 (Gino)

(together we, us, our)

 

 

As authorised representatives of Proacct Plus Financial Services Pty Ltd ABN 55 676 374 351 AFSL No. 560050 (Licensee)

Date: 16 November 2024

The distribution of this financial services guide (FSG) is authorised by the Licensee.

 

 

 

Purpose

The purpose of this FSG is to assist you in deciding whether to use our services by giving you information about the type of services we provide, how we are remunerated and your rights when you have a complaint about the services we provide to you.

We recommend that you read and understand this FSG before you engage us to provide you with any financial services. If you have any questions, please get in touch with us.

Not Independent

Because:

·         we may receive commissions on the sale of life risk insurance products that are not rebated in full to clients;

·         we may receive fees in respect wholesale clients that may constitute conflicts of interest

we are not able to refer to ourselves or our advice as ‘independent’, ‘impartial’ or ‘unbiased’.

Additional documents you may receive from us

When we provide you with financial planning services you may receive:

  • a Statement of Advice (SoA) or Record of Advice (RoA). These documents set out the advice we provide to you. If you have not been provided with the ROA, you may request a copy of it free of charge at any time within 7 years after the advice was provided to you, by contacting us;
  • a Product Disclosure Statement (PDS) which provides details about the significant risks and benefits, costs, charges and other significant characteristics or features of the products we have recommended.

Financial services we are authorised to provide

We are authorised to provide personal advice and dealing services to retail and wholesale clients for the following financial products:

  • deposit and payment products limited to:
    • basic deposit products
    • deposit products other than basic deposit products
  • debentures, stocks or bonds issued or proposed to be issued by a government
  • life products including:
    • investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds
    • life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds
  • interests in managed investment schemes including investor directed portfolio services
  • interests in managed investment schemes limited to MDA services
  • retirement savings accounts products (within the meaning of the Retirement Savings Account Act 1997)
  • securities
  • standard margin lending facility
  • superannuation

How can you provide us with instructions?

You can give us instructions by phone, email or any other means that we agree with you from time to time. Please refer to our engagement letter for more information on this.

Who does the Licensee act for?

As authorised representatives, we provide financial services on behalf of the Licensee. In providing those financial services, the Licensee acts on its own behalf.

Fees

All fees are payable to Proacct Plus Wealth Solutions. Gino and Anthony are some of the owners of Proacct Plus Wealth Solutions and share in the profits that are made.

Personal advice

We will charge you a fee for any personal advice we provide to you. That fee may be either a fixed fee or based on the amount of hours it takes us to prepare and provide you with personal advice. The amount of these fees usually ranges from $990 to $4,950 but may exceed this range in complex cases. These fees will be agreed with you beforehand and will be disclosed in a SoA or RoA which will be provided to you.

Ongoing fees

Our ongoing fees depend on the ongoing service that we provide to you. They are typically charged as a percentage based on the value of your portfolio of between 0.33% and 1.99% and are paid either monthly or quarterly.  The amount of ongoing fees will depend on your total assets under management and other factors such as the complexity of your portfolio, the regularity of reviews and any additional services we are providing.

Any ongoing fees will be agreed with you before we charge them.

Brokerage fees

We do not charge you for brokerage, but brokerage fees may be payable to third parties who execute transactions on your behalf.

The services and fees will be set out in the SoA or RoA that we provide to you.

Insurance commissions

Whilst we no longer provide life insurance advice, we do refer life insurance work to industry specialists. As a result, we may receive referral fees from insurance specialists. We may receive up to 20% of the upfront commission received by the provider and up to 20% of the recurring commission received by the provider.

For example, for an insurance product with an annual premium of $2,000, where the issuer pays the provider an upfront commission of 60%, we will receive $240 ($2,000 x 60% x 20%). The issuer will pay the provider 20% of the annual premium as ongoing commission for as long as you hold the product. Assuming an annual premium of $2,000, this equates to $80 per year ($2,000 x 20% x 20%).

Other Benefits

We may also receive additional benefits by way of sponsorship of educations seminars, conferences or training days. Details of any benefits received above $100 will be maintained on a register which is available to you on request.

Adviser remuneration

Our representatives are paid a base salary and do not receive commissions from product issuers. However, as some of the owners, Anthony and Gino share in the profits that we make.

Associations

We are required to disclose any associations or relationships between us, our related entities and product issuers that could reasonably be capable of influencing the financial services we provide to you.

We don’t have any associations or relationships with product issuers. However, Anthony and Gino are also part owners of Proacct Plus Advisors & Accountants and Proacct Plus Finance. As part owners of these businesses, we receive a share of the profits.

Conflicts of Interest

Our representatives may recommend investments in shares that they hold or may hold in the future. You will be advised where a conflict of interest may exist and how the conflict will be managed.

Making a Complaint

We endeavour to provide you with the best advice and service at all times.

If you are not satisfied with our services then we encourage you to contact the Licensee. We accept complaints over the phone, in person, via email or letter or on our social media channels. The best option is to call the Licensee or put your complaint in writing to the Licensee’s office. The Licensee will endeavour to resolve your complaint in 5 business days.

If you still do not receive a satisfactory outcome or the Licensee does not respond to you within 30 days after you make the initial complaint, you have the right to complain to the Australian Financial Complaints Authority (AFCA) at the following address:

GPO Box 3

Melbourne VIC 3001

Ph: 1800 931 678

Fax: 03 9613 6399

Website: www.afca.org.au

Email: info@afca.org.au

You may only contact AFCA once you have followed the above procedure.

Our Complaints Handling Procedure is available on request and at our website at https://proacctplus.com.au/

Your Privacy

We are committed to protecting your privacy.

We have a Privacy Policy which sets out how we collect, hold, use and disclose your personal information. It also sets out how you can access the information we hold about you, how to have it corrected and how to complain where you are not satisfied with how we have handled your personal information.

Our Privacy Policy is available on request and on our website at https://proacctplus.com.au/

Compensation arrangements

The Licensee holds professional indemnity insurance in respect of the financial services we provide. This professional indemnity insurance complies with the requirements of the Corporations Act. The professional indemnity insurance covers all of the financial services we are authorised to provide to you.

Contact us

If you have any queries about our financial services, please do not hesitate to contact us or the Licensee at:

Address:              2/81 Burgundy Street, HEIDELBERG VIC 3084

Email:                    office@proacct.com.au

Phone:                  03 9880 9600