Superwoman Financial Solutions Pty Ltd is an Authorised Representatives of Millennium3 Financial Services Pty Ltd (M3FS)
Australian Financial Services Licensee (AFSL) No: 244252
A guide to our relationship with you
How do I contact Superwoman?
Address: Shop 1, 50 Carrington Street, Sydney NSW 2000
Phone: 1300 657 452
Fax: 1300 657 451
Email: info@superwoman.com
Contents
Purpose and Content of this Financial Services Guide
The purpose of this Financial Services Guide (FSG) and the Millennium3 Financial Services Guide (M3FSG) is to help you decide whether to use the financial services we offer. You have the right to ask us about our charges, the type of advice we will provide you, and what you can do if you have a complaint about our services.
This guide is intended to inform you of certain basic matters relating to our relationship, prior to us providing you with a financial service. The matters covered by this FSG and the M3FSG include who we are, how we can be contacted, what services we are authorised to provide to you, how we (and any other relevant parties) are remunerated, details of any actual or potential conflicts of interest, and details of our internal and external dispute resolution procedures, along with how you can access them.
It is intended that this guide should assist you in determining whether to use any of the services described in this document.
You should also be aware that you are entitled to receive a Statement of Advice (SOA) or Statement of Additional Advice (SOAA) whenever we provide you with any advice, which takes into account your objectives, financial situation and needs. The SOA or SOAA will contain the advice, the basis in which it is given and information about fees, commissions and associations which may have influenced the provision of the advice.
In the event that your circumstances have not changed and related additional advice is provided, then a record of advice may be provided to you or added to your file. You may request either in writing or verbally a copy of any Record of Advice (ROA) at any time up to 7 years after the related additional advice was provided.
When we make a recommendation for you to acquire a particular financial product, we must also provide you with a Product Disclosure Statement containing information about the particular product, which will enable you to make an informed decision in relation to the acquisition of that product.
Our Business
Who is my adviser?
Your adviser and Superwoman Financial Solutions Pty Limited are Authorised Representatives of Millennium3 Financial Services Pty Limited (M3FS). M3FS is an Australian Financial Services Licensee - number 244252.
Your Superwoman advice team is as follows:
| Visnja Raznjevic Dip AppSci, Dip FP | ASIC Representative number 312499 |
Who will be responsible for the services provided to me?
M3FS as the Licensee is responsible for the financial services provided by any of its authorised representatives acting under their M3FS authorisations.
This means that we act on behalf of M3FS when providing services to you.
Our Services
What classes of financial products can you provide services in relation to?
Superwoman Financial Solutions Pty Limited and your adviser are authorised to provide advice on and deal in the following products:
- Deposit and payment products;
- Government Debentures, stocks and bonds;
- Derivatives;
- Life Insurance Risk Products;
- Life Insurance Investment Products;
- Managed Investment Schemes;
- Securities (including listed securities);
- Superannuation and Retirement Income Streams; and
- Retirement Savings Accounts.
What services can you offer me?
Our Services comprise of three core components:
- Superwoman Analysis and Statement of Advice, incorporating plan implementation;
- Review services – half yearly and annual reviews; and
- Investment portfolio monitoring.
1. Superwoman Analysis and Statement of Advice, incorporating plan implementation;
All Superwoman Financial Solutions clients are initially invited to take part in our Superwoman Analysis. This consists of an initial consultation for your Superwoman adviser to get to know you in order to establish your current position, concerns and your goals and objectives.
Having discussed an appropriate course of action you can then agree that formal recommendations be prepared and implemented.
Having consulted with a team of experts your Superwoman adviser will then arrange a consultation to present your Superwoman Financial Solutions Statement of Advice (SOA).
The SOA will detail your current position, goals and objectives, recommendations, desired outcomes and the actions required for implementation.
Your Superwoman adviser can provide the following services:
- Assistance with budgeting and cash flow analysis,
- Financial needs analysis;
- Debt reduction strategies;
- Financial planning strategies;
- Retirement planning;
- Life insurance needs;
- Superannuation needs;
- Risk protection strategies;
- Wealth creation strategies; and
- Tax effective investing.
2. Review services – half yearly and annual reviews
Reviews are a standard element within our services as we believe they form an integral part of the financial planning process. Should you wish to pursue an ongoing relationship beyond your Superwoman Statement of Advice (SOA) you will be required to sign an agreement with Superwoman Financial Solutions that will include half yearly and/or annual reviews.
The preparation of the initial Statement of Advice is regarded as the beginning of a longterm client-adviser relationship. As part of the relationship it is also imperative that we:
- Keep abreast of your personal and financial circumstances;
- Track your progress towards achieving your goals and objectives;
- Monitor and assess the impact on your strategy from changes to taxation and superannuation regulations and legislation;
- Examine economic cycles and investment trends within the market place; and
- Observe the performance of your fund managers and their investment funds.
Our review process will ensure that your chosen strategies will continue to meet your financial goals and objectives whilst taking into consideration any significant changes to your personal situation and any changes to economic and market conditions that may impact upon the future performance of your investments.
In summary, a review would need to take into consideration any changes to:
- The economic environment;
- Investment sector performance;
- Investment performance;
- Your financial/taxation position;
- Social security issues;
- Changes in legislation;
- New product availability; and
- Fund manager performance.
As part of the ongoing review of your investment strategy, we seek to work with you over the years to ensure that your portfolio continues to meet your requirements and changing circumstances.
3. Investment portfolio monitoring
In addition to our review services our approved products are reviewed on a regular basis to ensure that they continue to meet your financial goals and objectives. This is done by monitoring and assessing the capabilities of the investment product providers managing your investments and any changes to economic and market conditions that may impact upon the future performance of your investments.
As a result of our Investment Portfolio Monitoring process we may make formal ad hoc recommendations to you outside the agreed half yearly review dates. These will be presented as a SOA, SOAA or ROA which, depending on complexity, will be mailed to you and will include the relevant paperwork in order to implement the change. More complex recommendations may require a consultation or be addressed at your next review consultation.
Please refer to the ‘The Cost of Our Services’ section for information on how this service is paid for.
Can you provide examples of specific products you can offer me?
Examples of specific products we can assist you with, either as part of our authorisation or through other service providers we have relationships with are:
Savings Plans, Lump Sum Investments, Personal Superannuation, Employer Sponsored Superannuation, Rollovers, Annuities (Deferred, Immediate and Allocated), Allocated Pensions, Life Insurance, Accident/Sickness/Disability Insurance, Trauma Insurance, Permanent & Total Disability Insurance, Income Protection Insurance, Business Expense Insurance.
How do I provide you with instructions?
You may specify how you would like to give us instructions, for example, by telephone, email, fax or other means.
What information do you maintain in my file and can I examine my file?
We collect and maintain a record of your personal profile, including details of your objectives, financial situation and needs to assist us in providing personal financial advice.
We also maintain records of any recommendations made to you. If you wish to examine your file, you should ask us to make arrangements for you to do so.
The Cost of Our Services
How is my adviser remunerated and how will I pay for the services provided?
Our advisers are remunerated by salary and do not directly receive any commissions or fees. They may be eligible for an annual bonus payment. These bonus payments are discretionary, and based on achievement of pre-determined business objectives.
These may include business outcomes, customer service and contribution to the Superwoman team.
All amounts your adviser is entitled to receive as a result of personal advice provided to you will be disclosed in the SOA.
Fees that may be applicable for preparing your advice are: |
|
| SERVICE | FEE |
| Superwoman Statement of Advice – Comprehensive Financial Plan | From $750 to $5,000 (inclusive of GST) |
| Ongoing Advice Fee (agreed upfront and revised annually) | From $3,000 to $10,000 pa (inclusive of GST) |
Commissions are paid by product issuers and service providers (e.g. platforms).
Payment of these commissions may in some circumstances impact on your premiums, the final amount invested on your behalf and/or on your ongoing investment balance.
Amounts paid by product issuers include ‘upfront’ commissions which are paid at the time the product is purchased (upfront) and ongoing commissions which are paid whilst ever the product continues to be in force (ongoing).
The actual amount of remuneration (including commission) or other benefits that may be paid as a result of personal advice provided to you will be contained in the SOA, SOAA or ROA.
Initial entry fees and/or upfront commissions
Investments
The initial entry fee and/or upfront commissions vary from 0%-15% for investment products.
Risk Products
The upfront commissions vary from 0%-140% of premiums for life risk products.
Ongoing commissions and ongoing fees
Investments
In addition to the service fees detailed under ‘Superwoman Financial Solutions Service Fee Schedule’ an ongoing commission may also be payable.
This will cover the cost of our regular Investment Portfolio Monitoring Service as described in the ‘Our Services’ section of this document. The standard ongoing fee is a maximum of 1% of your investment account plus GST on all amounts invested.
The mechanism for charging this will vary between the issuers of the investment products recommended to you but will generally be facilitated by paying Superwoman an ongoing commission.
This commission, which can vary depending on the product and manager, is calculated in a range between 0% and 6% on the balance of the account/investment. This commission is paid by the product provider and is not an additional cost to you but may be indirectly reflected in the investment returns or fees charged by the product provider. This commission is paid either monthly or quarterly depending on the Investment and continues whilst the product continues to be in force.
Risk products
Where a life insurance company product has been recommended the issuer of the product will pay Superwoman an ongoing commission. This commission which can vary depending on the product is calculated in a range between 0% and 45%. This commission is paid each month from the second year of your policy and continues whilst the product continues to be in force.
Do you have other sources of income?
Superwoman Financial Solutions Pty Ltd has agreements in place for the referral of potential clients for our services by third parties. These third parties may include other authorised representatives of M3FS. The referring party may receive a referral fee or commission or a non-monetary benefit as a consequence of the products or services you purchase. We will disclose any referral fees by both the referrer and referee to you upfront or as early as possible.
What other benefits and interests (including non-monetary items) do you receive?
Superwoman Financial Solutions Pty Ltd and your adviser may be eligible to receive additional benefits. These may include selected gifts, entertainment or marketing support.
A register detailing these additional benefits is maintained and can be made available to you, upon request and where relevant, specific details will be included in the SOA, SOAA or ROA.
Are there associations and/or relationships that may be regarded as capable of influencing your services (potential conflicts)?
You should be aware that Superwoman Financial Solutions Pty Ltd has the following relationships with various entities which may give rise to an actual or potential conflict of interest:
- Superwoman Financial Solutions Pty Limited has no associations or relationships capable of influencing the advice provided, other than those recorded in the M3FS FSG.
Superwoman Financial Solutions Pty Ltd and your adviser will receive indirect as well direct benefits if you are provided with services from any of these organisations. Actual amounts will be disclosed in any SOA, SOAA or ROA your adviser will provide to you. However, please do not hesitate to ask if you want more detail before this time.
Respecting Your Privacy
We understand the importance of protecting your rights to privacy. In handling your personal information we are subject to the Privacy Act and we comply with the ten National Privacy Principles in the Act.
Does Millennium3 Financial Services Pty Ltd have a Privacy Statement?
A Privacy Policy detailing how personal information is managed is available on request from Superwoman Financial Solutions Pty Ltd or you can visit the M3FS website at www.millennium3.com.au.
Your Avenues for Queries
How do I make a complaint?
If you have any complaint about the service provided to you, you can take the following steps.
- Contact your adviser by phone or in writing.
- If your complaint is not satisfactorily resolved within 3 days, put your complaint in writing and send it to Millennium3 Complaints Officer, PO Box 377, Cannon Hill QLD 4170.
- If you still do not get a satisfactory outcome, you have the right to complain to the Financial Ombudsman Service Limited – GPO Box 3, Melbourne Vic 3001. Ph: 1300 78 0808.
- The Australian Securities and Investment Commission (ASIC) also have a Freecall Infoline on 1300 300 630 which you may use to make a complaint and obtain more information about your rights.
- We have professional indemnity insurance which meets our obligations under the Corporations Act. The policy covers claims made against us as licensee and for the conduct of our advisers whilst acting as our authorised representatives.
