Version 20, 7 October 2024
Momentum Planning Pty Ltd
AFSL 32220 ABN 80 106 837 558
Suite 7, 1 Albert St
North Perth WA 6006
(08) 9221 1955
www.momentumplanning.com.au
Purpose of this FSG
This Financial Services Guide (FSG) will help you decide whether to use the services that we offer. It contains information about:
• The services we offer and their cost
• Any conflicts of interest which may impact the services
• How we are remunerated
• How we deal with complaints if you are not satisfied with our services.
Our Licence
Momentum Planning holds an Australian Financial Services Licence. It is required to comply with the obligations of the Corporations Act and the conditions of its licence. This includes the need to have adequate compensation arrangements in place with a Professional Indemnity insurer for the financial services that its current and past representatives provide.
Our Services
We are authorised to provide personal advice and dealing services in the following areas:
• Superannuation and SMSF
• Retirement planning
• Portfolio Management
• Managed investments
• Securities
• Personal risk insurance
• Margin lending
• Cashflow Management
• Debt Management
The Financial Advice Process
We recognise that the objectives and personal circumstances of each client are different.
Where we provide personal advice, we will listen to you to understand your objectives and circumstances. We will also ask questions to make sure we provide advice which is in your best interests.
When we first provide personal advice to you it will be explained thoroughly and documented in a Statement of Advice (SoA) which you can take away and read.
The SoA will explain the basis for our advice, the main risks associated with the advice, the cost to you of implementing the advice, the benefits we receive and any conflicts of interest which may influence the advice.
For administration platforms, managed funds and personal risk insurance products we will provide you with a Product Disclosure Statement. This contains information to help you understand the products being recommended.
At all times you are able to contact us and ask questions about our advice and the products we recommend.
You can provide instructions to us in writing, via phone or via email. In some cases, we may require you to provide signed instructions.
We may provide further advice to you to keep your plan up to date for changes in your circumstances, changes in the law and changes in the economy and products.
If we provide further advice it will typically be documented in a Record of Advice or another statement of advice.
Fees
Advice Preparation Fee
The Advice Preparation fee includes meetings with you, the time we take to determine our advice and the production of the SoA.
The Advice Preparation fee is based on the scope and complexity of advice provided to you. We will agree the fee with you before providing you with advice.
Annual Services Fees
Our annual service fees include the implementation of advice and will depend on the annual services that we provide to you. They will be a fixed monthly fee and agreed with you through a service agreement.
Insurance Commissions
Momentum Planning attempts to reduce all commissions on insurance to nil. Where this is not possible, we will rebate the commission to you.
Other Benefits
We may also receive other benefits from product providers such as training, meals and entertainment. Details of any benefits received above $100 will be maintained on a register which is available to you on request.
Adviser Remuneration
Pippa Elliott, Amanda Jarosz, Laura Lewis and Shanae Gardam are the owners of Momentum Planning and they are remunerated via a salary and through the profits that the practice makes. Pippa and Amanda are also directors of the practice.
The other advisers of Momentum Planning are employees and are paid a salary only.
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 us. Please call us or put your complaint in writing to our office.
If you are not satisfied with our response you can refer it to the Australian Financial Complaints Authority. You can contact AFCA on 1800 931 678 or www.afca.org.au. This service is provided to you free of charge.
At Momentum Planning, we are committed to protecting your privacy in accordance with the Privacy Act 1988 (Cth). This Policy describes our policies and practices for collecting, handling, storing, using and disclosing personal information. It also deals with how you can complain about a breach of the privacy laws, access the persona linformation we hold about you and have that information corrected (where necessary).
Privacy Policy
What personal information do we collect and hold?
When we provide personal financial advice, we ask you for the information we need to understand your current position. We collect your information through our confidential client questionnaire, provision of hard copy statements, our meetings together and emails from you. This can include a broad range of information from your name, address, contact details and age to information about your personal affairs including information on your income, expenses, loans and assets.
We only collect sensitive information such as details on your race and health with your agreement and when it is necessary for us to do so to apply for personal insurance policies.
How do we use your information?
We use your personal information to prepare personalised financial advice.
We also use your personal information to manage your ongoing requirements and our relationship with you, e.g. conducting reviews with you, providing you with ongoing information about your investments and assisting with liaison between yourself and product providers. This includes contacting you by mail or electronically (unless you tell us you do not wish to receive electronic communications).
From time to time we will use your contact details to send you updates, articles, newsletters or other information about products and services that we believe will be of interest to you. We will always give you the option of electing not to receive these communications and you can unsubscribe at any time by notifying us that you wish to do so.
What if you don’t provide information to us?
If you do not provide us with some or all the information that we ask for, we may not be able to provide appropriate financial advice to you, that is in your best interests.
You can contact us without using your name or by using a pseudonym. However we may need your name or contact details to respond to you.
How do we store and protect your personal information?
We strive to maintain the relevance, accuracy and completeness and currency of the personal information we hold and to protect its privacy and security. We keep personal information only for as long as is reasonably necessary for the purpose for which it was collected or to comply with any applicable legal reporting or document retention requirements.
We hold the information we collect from you on in-house servers and within a cloud based platform produced by IRESS. We only use platform and storage providers in Australia who are also regulated by the Privacy Act.
We ensure that your information is safe by using firewalls, encryption and password protection policies. We maintain physical security over our paper and electronic data and premises, by using locks and security systems.
Will we disclose your personal information to anyone?
We do not sell, trade, or rent your personal information to others. We will disclose your information to investment and insurance providers only if you have given us permission to proceed with applications on your behalf. We may also seek your permission to provide details to brokers, lawyers and/or accountants in order to support their service to you.
We may also need to provide your information to other companies in the event of a corporate sale, merger, reorganisation, dissolution or similar event. We will take all reasonable steps to ensure that they protect your information in the same way that we do.
We may provide your information to others if we are required to do so by law or under some other unusual circumstances which the Privacy Act permits.
We will not disclose your information to overseas recipients.
How can you check, update or change the information we are holding?
You may ask us for access to your personal information and to correct it at any time.
Upon receipt of enough information to allow us to identify the information, we will tell you what personal information we hold about you. We will also correct, amend or delete your personal information if we agree it is inaccurate, irrelevant, out of date or incomplete.
We do not charge for receiving a request for access to personal information or complying with a correction request.
To access or correct your personal information, please write to Privacy Officer, Momentum Planning, Suite 7, 1 Albert Street North Perth WA 6006.
We do not charge for providing access to personal information.
In some limited situations, we may need to refuse access to your information or refuse a request for correction. We will advise you as soon as possible after your request if this is the case and the reasons for our refusal.
What happens if you want to complain?
We welcome your questions and comments about how we manage your privacy. If you have any concerns about whether we have complied with the Privacy Act, the Australian Privacy Principles or this Privacy Policy, please write to our Privacy Officer at Privacy Officer, Momentum Planning, Suite 7, 1 Albert Street North Perth WA 6006.
We will consider your complaint through our internal complaints resolution process and we will try to respond with a decision within 30 days of you making the complaint.
Your consent
By asking us to assist with your financial planning needs, you consent to the collection and use of the information you have provided to us for the purposes described above.
Updating this policy
This Privacy Policy was prepared on 1st March 2020. We may update it at any time. The new version will published on our website.