Financial Services Guide
The purpose of this Financial Services Guide (FSG) is to help you make an informed decision about the services we offer and whether they are appropriate to meet your needs. It is an important document that all financial planners are required to give you as a condition of the Australian Financial Services Licence (AFSL) that we are authorised under. It will tell you more you adviser and an understanding of what you should expect from our services. It will also outline any associated fees and charges that you may incur.
This FSG covers the following:
- Information about Climb Wealth as a licensee
- Details on how you may instruct your Adviser
- Who will be responsible for providing the financial services
- Details of the financial services and/or products Climb Wealth can provide
- The documents you may receive
- Remuneration received by your Adviser
- Other forms of remuneration or benefits
- Privacy (i.e. collection and handling of your personal information)
- The complaints procedure
- Compensation arrangements in place
Please take the time to review this document before engaging our services.
Throughout this FSG, Climb Wealth is referred to as “we”, “us”, “our” or any variations. The term “Adviser” refers to Climb Wealth’s authorised representatives.
Who we are and what we stand for
Climb Wealth is a wholly privately owned Australian Financial Services Licensee that is dedicated to provide advice to you through your adviser. We have a strict code of ethics that ensures that you adviser is as well equipped as possible to provide you with the advice you need without many of the conflicts that exist in today’s financial services industry.
Your Adviser provides financial advice and services on behalf of Climb Wealth and accordingly we are responsible for the financial advice and services they provide.
Our Advisers are committed to providing quality financial advice and a wide choice of products and/or services to suit individual client circumstances.
Your Adviser is obliged by law to act in your best interests and provide appropriate advice, when providing financial advice to you.
Who is your financial planner?
Your financial Adviser is Aidan Kelly, ASIC Authorised Representative# 1243370. Aidan is Authorised to provide you advice under the Climb Wealth Australian Financial Services License. Before joining Climb Wealth, Aidan was a Senior Financial Adviser at RFE Group working with clients and mentoring other financial advisors. As part of his role, Aidan developed strategic relationships with numrous accounting firms, whom he worked closely with to develop positive outcomes for their clients.
Previous to RFE Group, Aidan worked in the UK for one of the worlds largest financial institutions – Royal Bank of Scotland Group . In this role he was responsible for servicing and managing relationships with both private clients and small businesses. Aidan gained a strong knowledge of the financial markets and systems, including the UK pension system.
Seeing clients succeed financially and emotionally through strategic advice drives Aidan’s financial planning passion. He helps his clients make informed financial and lifestyle decisions through collaborative strategic advice. Aidan has been a key note speaker at numerous seminars covering topics including wealth building through property and shares, superannuation and retirement planning.
In his spare time, Aidan enjoys an active lifestyle playing sport, previously representing at a state and national level for numerous team sports. As a triplet, Aidan loves to spend time with his family and particularly his young nephew. Aidan also enjoys travelling, a good meal out with friends and maybe a glass or two of red!
What is Aidan’s education?
Aidan has completed the Advanced Diploma of Financial Planning, holds a Diploma in Business and Commerce, is an accredited Self-Managed Superannuation Fund and Margin Lending Adviser.
Through his work in the UK, Aidan completed numerous UK advice qualifications and is currently studying towards his Master of Financial Planning. Prior to providing any personalised financial advice products and/or services our Advisers are required to provide you with a copy of this FSG.
What we can provide
Climb Wealth is licensed to provide financial product advice on the following services:
- Wealth creation strategies
- Life insurance advice
- Superannuation strategies
- Debt reduction strategies
- Cash flow management
- Retirement planning
- Aged care strategies
- Estate planning strategies
- Tax (financial) advice
We can advise in the following products:
- Basic deposit products
- Debentures, stocks and bonds
- Life insurance (personal and business)
- Managed investments
- Investor Directed Portfolio Services (IDPS)
- Retirement Savings Accounts (RSA)
- Self-managed superannuation
Climb Wealth maintains an Approved Product List (APL). Subject to attaining required accreditation, your Adviser is able to recommend any product on the Climb Wealth APL.
There may be instances where your Adviser will need to consider products outside of the APL. In these cases, your adviser may apply to Climb Wealth’s Research Department to obtain a one-off product approval. Climb Wealth restricts products from the APL based wholly on merit and research.
Documents you may receive
If you decide to obtain personal financial advice, your Adviser will need to determine your needs, objectives and relevant financial circumstances.
At the initial advice appointment, your Adviser will typically gather the relevant information by using a client data collection form. You will be asked to provide accurate information about your personal and financial situation and keep your Adviser informed of any changes to your relevant circumstances.
Your Adviser will also need to verify your identity.
When your Adviser provides personal financial advice to you, you may receive one or more of the following documents:
- Letter of Engagement
- Statement of Advice (SoA)
- Record of Advice (RoA)
- Product Disclosure Statement (PDS)
- Fee Disclosure Statement (FDS)
- Renewal Notice
The SoA will set out the advice that has been tailored to your specific circumstances and provide you with details of all relevant disclosures including details of any remuneration payable.
Where you receive ongoing or further advice a RoA may be provided.
A PDS will be provided if a product recommendation is made and includes detailed information on the financial product including features, benefits, conditions, costs and cooling off rights (if applicable).
An FDS will be issued to you in instances where you enter into an Ongoing Fee Arrangement with your Adviser for a period greater than 12 months. The FDS will contain information about the services you were entitled to receive, the services you actually received and the fees you paid during the period. The FDS will be provided to you annually.
Should you commence an ongoing fee arrangement for the first time after 1 July 2013 (or in circumstances where the ongoing fee arrangement is significantly varied after 1 July 2013), your Adviser will also issue a Renewal Notice every 2 years. The Renewal Notice will give you the option of renewing the ongoing fee arrangement.
You may request in writing a copy of any advice document up to seven (7) years after the advice has been given.
How to give instructions
Your Adviser may accept your instructions by letter, email or fax. In some instances, your Adviser can only accept written instructions from you, and they will let you know when this occurs.
Your Adviser is required to maintain physical or electronic records of documentation for any financial advice given to you, including information that personally identifies you and/or contains information about you.
These records are required to be retained for at least seven (7) years. If you want to access your personal information at any time, please let us know.
You have the right to not to provide personal information to your Adviser. However, in this case, your Adviser will warn you about the possible consequences and how this may impact on the quality of the advice provided. Additionally, your Adviser may also decline to provide advice if they feel they have insufficient information to proceed.
Disclosure of information
Throughout the advice process, your personal information may be disclosed to other services providers. These may include:
- Financial product providers
- Financial planning software providers
- Administration and paraplanning service providers
- IT service providers
Climb Wealth may engage third party service providers to assist in the provision of products or services.
Some services may require disclosure of personal information to service providers outside Australia. The purpose of such disclosure is to facilitate the provision of financial services including the preparation of financial advice documents for Climb Wealth Advisers.
All reasonable steps will be taken to ensure that offshore service providers comply with the Privacy Act 1988.
The cost of providing a financial product or service to you will depend on the nature and complexity of the advice, financial product and/or service provided. Generally, whenever your Adviser provides a recommendation for a financial product or service, your Adviser may be remunerated through either:
- An initial fee for service; or
- An ongoing fee for service; or
- A contribution fee or implementation fee; or
- Commission payments from product providers where applicable; or
- A combination of any of the above.
Prior to preparing any advice or providing financial services to you, we will discuss and agree upon all fees that will apply.
All fees or commissions are initially paid to Climb Wealth before being distributed to your adviser
Climb Wealth receives a fee for the provision of services required under its Australian Financial Services Licence.
Should you be referred to your adviser by a third party, such as an Accountant or Mortgage Broker, the third party may receive a fee for the referral. You will receive more detailed information concerning any referral fee in your SoA or other relevant document.
Other forms of remuneration or benefits
Climb Wealth and/or its Advisers may receive non-monetary benefits where:
The amount is less than $300 and identical or similar benefits are not given on a frequent basis; The benefit has a genuine education or training purpose (including attendance to conferences) and is relevant to providing financial product advice; and/or
The benefit consists of the provision of information technology software or support and is related to the provision of financial product advice in relation to the financial products issued or sold by the benefit provider. Eg, life insurance quoting software
Payments or benefits received are disclosed in a register. A copy of the register is available upon request.
Your Adviser may hold shares in other companies which may influence, or be seen to influence, the advice that they provide you. Your Adviser will disclose any relevant shareholding and any other potential conflicts within advice document.
Climb Wealth does not have financial interests in any other business, bodies corporate or financial product nor any association or relationship with the issuers of financial products that might reasonably be expected to be capable of influencing them in the provision of financial services.
Climb Wealth maintains a group policy which includes appropriate Professional Indemnity Insurance cover for Climb Wealth as required by the Corporations Act 2001.
Reporting your concerns
If you have a complaint about any financial service provided to you by your Adviser you should firstly contact your Adviser directly to resolve your issue. If, having discussed with your adviser you are still not satisfied with the outcome, you should take the following steps:
Contact Climb Wealth to discuss your complaint.
Phone: 02 8238 0800
Mail: Compliance Manager Climb Wealth
GPO Box 4812
Sydney NSW 2001
We will acknowledge receipt of a complaint immediately, however, where this is not possible, acknowledgement will be made as soon as practicable.
We will then investigate the complaint and respond to you within 45 days. Some complex matters may require an extension to thoroughly investigate the complaint and bring it to resolution.
If you are not fully satisfied with our response, you have the right to lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.
The contact details for AFCA are:
Phone: 1800 931 678 (free call)
Mail: GPO Box 3
Melbourne VIC 3001
Furthermore, the Australian Securities and Investments Commission (ASIC) has a free of charge infoline on 1300 300 630, which you may use to obtain information about your rights and to make a complaint.
Climb Wealth Pty Ltd AFSL# 409424
GPO Box 4812
Sydney NSW 2001
447 Kent St
Sydney NSW 2000
P: 02 8238 0800
For more information:
Please visit moneysmart.gov.au for more information on financial advice.