Financial Services Guide
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.
We will provide you with a Product Disclosure Statement (PDS) where we recommend a financial product other than Securities. This contains information to help you understand the product 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 be documented in a Record of Advice (RoA) which we retain on file. You can request a copy of the RoA document at any time up to 7 years after the advice is provided of all recommendations made.
Ongoing Advice Services (Optional)
We provide clients with the opportunity to benefit from ongoing advice, portfolio reporting and an investment monitoring program.
This alleviates the concern of incurring additional one-off advice fees, provides access to your adviser for additional advice as required, provides access to quarterly portfolio reports, investment monitoring and research services, as well as regular review meetings with your adviser to ensure that our advice remains relevant to your needs.
Purpose of this Document
This 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 Services
Antipodean Private Pty Ltd trading as Antipodean Advisory is a privately owned and operated financial planning company established by Michael Clapham. We are not owned by a fund manager, bank or other financial institution. We are equipped to offer clients holistic advice and solutions that are tailored to each client’s individual needs, circumstances and advice requirements. Our Australian Financial Services Licence allows us to advise and dealing services in the following areas:
- Superannuation including SMSF,
- Retirement Planning,
- Portfolio Management,
- Managed investments,
- Securities (shares),
- Margin Lending,
- Personal risk insurance.
Your adviser may provide ‘general’ or ‘personal’ advice and it is important that you understand the difference between the two. General advice is just that, general. It is not based on your personal goals, financial situation or needs. Personal financial advice takes into account your goals, financial situation and needs.
Not Independent
We do not charge you a fee for our advice on risk insurance policies as we are paid a commission by the product provider. Our advice on risk insurance is therefore not independent, impartial or unbiased. In all other cases, we charge a fee for our advice services and do not receive commissions or other payments from product providers.
Our Fees
There is no cost for an Initial Consultation. If following your Initial Consultation you engage our services, our fees may comprise a Statement of Advice Fee, an Ongoing Advice Fee (Annual Advice Fee) and/or a fee calculated on an Hourly Rate basis as described below.
Initial Advice Fee
Our initial advice fees include meeting with you, the time we take to determine our advice and the production of the SoA. They will be based on the scope and complexity of advice provided to you. We will agree the fee with you before providing you with advice.
If you decide to proceed with our advice, we may charge an implementation fee for the time we spend assisting you with implementation. We will let you know what the fee will be in the SoA.
Statement of Advice Fee will usually be charged as a dollar-based fee ranging from $5,500 (including GST) to $13,300 (including GST) depending on the complexity of your personal situation and advice needs.
Hourly Rate
In limited circumstances, we may agree to work with you on an hourly rate basis. Our current hourly rate is $550 per hour (inclusive of GST), charged in15-minute intervals. Where practicable, we will provide you with a fee estimate before the commencement of any work and may request part-payment of our professional fees prior to the commencement of work.
Annual Advice Fee
Our annual fees depend on the services that we provide to you. They may be a percentage of your account balance and/or an agreed fixed fee. They are paid in monthly instalments. Our services and fees will be set out in an agreement with you. All fees noted herein are payable to Antipodean Private Pty Ltd trading as Antipodean Advisory.
Insurance Commission
We receive a one-off upfront commission when you take out an insurance policy that we have recommended. We also receive a monthly commission payment for as long as you continue to hold the policy. The commission will vary depending on the recommended product and will be documented in the SoA or RoA.
The rate of commission will generally be equal to approximately 30% of the annual premium for as long as you hold the policy. However, the rate of commission will vary depending on the recommended product and will be confirmed in your SoA or RoA. For example, in dollar terms, for a client with a total premium of $2,000 per year and a 30% insurance commission rate, we will receive insurance commission of $600 per year (calculated as $2,000 x 30%).
Other Benefits
We may 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.
Advisor Remuneration
Michael Clapham is the owner of the practice and he is remunerated through the profits that the practice makes 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, we encourage you to contact your adviser. 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 (‘AFCA’).
You can contact AFCA on 1800 931 678 or via their website www.afca.org.au. AFCA provides a fair and independent complaint resolution service which is provided to you free of charge.
Antipodean Advisory holds Professional Indemnity insurnace which satisfies the requirements fro compensation arrangements under section 912B of the Corporations Act. It covers the financial services provided by current and past representatives.
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 antipodeanadvisory.com.au.