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).
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 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.
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