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Financial Services Guide Part 1. This document is part of a Financial Services Guide and should be read in conjunction with Part 2 (Schedule of fees).
The Financial Services referred to in this guide are offered by:
John W Foley on behalf of Apogee Financial Planning Limited.
Suite 4 90 Mona Vale Rd, Mona Vale NSW 2103
Telephone 02 9979 4770
The Financial Services that John W Foley offers are provided by:
Star Capital Management Pty Ltd
ABN 18 220 690 551
Authorised Representative (AR) number 242365
Suite 4 90 Mona Vale Rd, Mona Vale NSW 2103
This guide contains important information about:
- the services we offer you
- how we and our associates are paid
- any potential conflict of interest we may have
- our internal and external dispute resolution procedures and how you can access them
If we give you financial advice - a Statement of Advice - to make sure that advice is appropriate to you we must make reasonable enquiries about your current financial situation and future needs.
In the Statement of Advice we will tell you about:
- our fees and commissions
- any associations we have with Financial Product Issuers or other parties which may have influenced the advice we give you.
If we recommend to you a particular Financial Product we will give you information about the particular Financial Product—a Product Disclosure Statement—to help you make an informed decision about the Financial Product.
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Who is your adviser?
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Your Authorised Representative will be John W Foley. His Authorised Representative (AR) number is 242178.
He has a Bachelor of Economics Degree from The University of Adelaide.
John W Foley is an Authorised Representative of Apogee Financial Planning Limited.
If you do not obtain advice, you face the risk that the Financial Product/s you select will not fully take into account your objectives, financial situation or needs.
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Who is responsible for the financial services provided?
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Apogee Financial Planning Limited is responsible for the financial services provided including the distribution of this Financial Services Guide (FSG).
Apogee Financial Planning Limited ABN 28 056 426 932
An Australian Financial Services Licensee, no: 230689
105-153 Miller Street, North Sydney NSW 2060
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Do you have any relationships or associations with Financial Product issuers?
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Apogee Financial Planning Limited is associated with the National Australia Bank Limited ABN 12 004 044 937 and together are members of the National group of companies. A number of companies within the National group of companies are financial product issuers. We can arrange the issue of financial products from a range of financial product issuers outside of the National group of companies.
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What kinds of financial services are you authorised to provide me and what kinds of Financial Product/s do those services relate to?
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John W Foley is authorised by Apogee Financial Planning Limited to provide financial product advice and deal in the following financial products:
- Basic Deposit Products;
- Non-basic Deposit Products;
- Non-cash Payment Products;
- Derivatives;
- General Insurance Products;
- Government Debentures, Stocks or Bonds;
- Life Products – Investment Life Insurance Products;
- Life Products – Life Risk Insurance Products;
- Managed Investments Schemes, including IDPS;
- Retirement Savings Account Products;
- Securities; and
- Superannuation
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What information should I provide to receive personalised advice?
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You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information, so that we can offer you the most appropriate advice possible.
You have the right not to tell us, if you do not wish to. However, if you do not, the advice you receive may not be appropriate to your needs, objectives and financial situation.
You should read the warnings contained in the Statement of Advice carefully before making any decision relating to a Financial product/s.
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What information do you maintain in my file and can I examine my file?
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We maintain a record of your personal profile including details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you.
We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. A copy of our Privacy Notification Statement is enclosed for your information.
If you wish to examine your file please ask us.
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How do I have to give you instructions about my Financial Product/s?
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You need to give us instructions in writing (eg fax, e-mail or letter) or another method as agreed by us.
If we provide you with execution related telephone advice, you may request a record of the execution related telephone advice, at that time or up to 90 days after providing the advice.
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How will I pay for the services provided?
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You may pay us a fee. Alternatively, we may receive a payment called commission, which is paid to us by the Financial Product issuer/s.
Our commission and fee schedule is contained in Part 2.
If we give you personal financial advice we will give you a Statement of Advice containing details of our fees and any payments made to us by a Financial Product issuer/s.
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How are any commissions, fees or other benefits calculated for providing the financial services?
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Generally the payment we receive will be based on the amount you pay. It may vary from one Financial Product issuer to another.
Details of the payment we receive are contained in the Product Disclosure Statements for most Financial Product issuers available from your adviser. Your adviser can give you full details.
If you receive personal advice from us, we will tell you about any commissions, fees and any other benefits, where possible in actual dollar amounts, in the Statement of Advice. Our adviser will give you this Statement of Advice, before we proceed to act on your instructions, except in the case of Time Critical Advice.
- We may be paid by the Financial Product issuer at the time you invest or contract, and during the life of your investment or contract.
- We may charge you a fee, depending on the time we spend developing your plan, or depending on the value of funds you invest.
- We may invoice you for a fee when you receive our written recommendations.
- You may have to pay us a management fee annually or in instalments.
- We may receive an ongoing payments from the Financial Product issuer.
If you receive personal advice, your adviser will tell you in writing in the Statement of Advice what fees we may charge you, when you have to pay, and what payments we may receive from the Financial Product issuer/s. Our Commission and Fee Schedule is contained in Part 2.
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Will anyone be paid for referring me to you?
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Where you have been referred to us by someone else, we may, in some circumstances, pay them a fee, commission or benefit in relation to that referral. Please refer to the Statement of Advice for further information.
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What should I do if I have a complaint?
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If you have any complaints about the service provided to you, you should take the following steps.
- Contact us and tell us about your complaint.
- If we have not satisfactorily resolved your complaint within 3 days, please contact the Service and Solutions Manager on (02) 9957 8000 or put your complaint in writing and end it to:
Service and Solutions Manager
Apogee Financial Planning
PO Box 200
North Sydney NSW 2059
Please mark the envelope “Notice of Complaint”. We will try and resolve your complaint quickly and fairly.
- If the complaint can’t be resolved to your satisfaction within 45 days, you have the right to refer the matter to Financial Industry Complaints Service Limited (FICS) or Insurance Brokers Disputes Limited (IBD). They can be contacted on 1300 78 08 08 and 1800 064 169 respectively, or you can write to them at:
The Manager
Financial Industry Complaints Service Limited
PO Box 579
Collins Street West
Melbourne VIC 8007
The Manager
Insurance Brokers Disputes Limited (IBD)
Level 10
99 William Street
Melbourne VIC 3000
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If you have any further questions about the financial services Apogee Financial Planning Limited provides, please contact John W Foley on 02 9979 4770.
Retain this document for your reference and any future dealings with Apogee Financial Planning Limited.
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FSG Part 2 - Schedule of Fees for Star Capital Management Pty Ltd
This document is part of a Financial Services Guide and should be read in conjunction with Part 1 “A Guide to our relationship with you and others”.
| First Consultation |
Free |
| Completion of Needs Analysis |
Free |
| Preparation of Financial Plan |
Will range from $500 - $2,000 depending on level of complexity of your situation and the advice provided |
| Plan Implementation |
3% for first $100,000
2% for the next $150,000
1% for any amount over $250,000 |
| (This fee may be paid by cheque or collected from any investment product commissions) |
| Ongoing Service Fee |
1% of total funds invested (collected monthly from your investments)
OR
$200 per month
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| (The level of ongoing service required will determine the type of ongoing service fee charged) |
All fees exclude GST of 10% inclusive.
Where ongoing commission cannot be rebated by product suppliers, we will also receive ongoing service commission. The amount received varies depending on the circumstances, although typically we receive a share of the ongoing commission of between 0 – 0.5% per annum of the value of the holding in a product for as long as you hold the product
| Consulting Fees |
For any other service not specified above we will charge at a rate of $250 per hour
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COMMISSIONS
For portfolios of less than $100,000 or investments into Nil Entry Fee Products, commission may be charged as follows instead of the fees outlined above:
Upfront Commission – All Financial Products Except Life Risk Insurance Products
Unless we advise you otherwise we will receivean upfront commission from the product issuer where you decide to buy a product recommended to you. Usually this upfront commission is 3% of the amount you invest, although the exact amount may vary from 0 to 5% depending on the product. For example, for an investment of $10,000 in a product whose manager pays us 3% commission we will receive an upfront commission of $300.
Ongoing Commissions – All Financial Products Except Life Risk Insurance Products
We will also receive ongoing commissions - the amount we will receive varies depending on the circumstances, although typically we receive an ongoing commission of between 0 & 0.5% per annum of the value of your holding in a product for as long as you hold the product.
Commissions - Life Risk Insurance Products
We will receive an upfront commission from the relevant insurer whenever we arrange an insurance policy for you. We may also receive a renewal commission from the relevant insurer when you renew your policy.
The commission is generally a percentage of the insurer's base premium (ie premium excluding stamp duty, fire services levy, GST, modal loadings or any other government charges, taxes, fees or levies). The rate ranges between 0 and 130%
Other Benefits and Interests
I may also be entitled to receive additional pecuniary and non-pecuniary benefits, bonuses and/or rewards resulting from promotional, performance related and/or loyalty programs should they be conducted at any time by a related company, any relevant industry organisation or financial product issuer. Additionally I may receive an enhanced benefit with a business buy-back opportunity based on the proportion of Licensee Group products and services provided by us compared to Approved Products and Services from non-Group financial product issuers. These types of benefits and/or awards are not able to be quantified at any given time and are generally not directly attributable to any one product dealing.
Remuneration Information
If we provide personal advice, we will detail the remuneration we will receive in the Statement of Advice.
If you need further explanation please ask us.
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