Freedom = Family
This Financial Services Guide (FSG) provides you with important information about SBA Advice and its Authorised Representatives who will provide you with the financial services described in this guide. The matters covered by the FSG include who we are, how we can be contacted, what services we are authorised to provide to you, how we (and other relevant parties) are remunerated, details of any potential conflicts of interest, and details of our internal and external dispute resolution procedures, along with how you can access them. It is designed to help you evaluate and make an informed decision about whether to use the financial services described in this guide. We suggest you retain this guide for your future reference. If any part of this guide is not clear, please speak to your financial adviser.
Lack of independence: SBA Advice may receive commissions from life risk insurance products held by our clients. As such, we are neither independent, impartial, or unbiased as defined in Section 923A of the Corporations Act.
Collins SBA offers a range of professional services to empower people to live this best life. Our unique point of difference is how our whole team work together to support our clients.
WHO IS RESONSIBLE FOR THESE FINANCIAL SERVICES?
As the holder of an ASFL, SBA Advice is responsible for the financial services we provide to you. SBA Advice acts on its own behalf when these financial services are provided to you. In relation to the financial services offered in this Financial Services Guide (FSG) SBA Advice as a holder of an AFSL, does not act on behalf of any person or licensee. SBA Advice is only responsible for the services offered in this FSG.
GIVING US INSTRUCTIONS
If you want to make changes to your financial plan or provide other instructions, you can contact us using the details in this Financial Services or by contacting us here: Generally you will need to give us instructions in writing for example, email or a written letter or another method as agreed with your financial advice specialist.
Jonathan Elliot – Managing Director and Adviser
Freedom = Cycling
Michael Denehey – Business Adviser
Freedom = Giving Gold
Claudia Parsons – Director, Head of Human Resources and Business Support
Freedom = Cooking
MANAGED DISCRETIONARY ACCOUNT SERVICE
We may offer you a Managed Discretionary Account (MDA) Service to manage on your behalf, in accordance with an investment program agreed with you (‘Investment Program’).
The Investment Program will be documented in a Statement of Advice (SoA) which will detail our advice and how it will assist you in meeting your objectives.
HOW TO ACCEPT A MANAGED DISCRETIONARY ACCOUNT SERVICE
Should you wish to use our advisory services, we may provide you with a SoA which contains our recommendations to you and this may include a recommendation for you to use Implemented Portfolios Pty Ltd as the MDA provider. If you accept our MDA recommend you will be given a Financial Services Guide prepared by Implemented Portfolios Pty Ltd. If you choose to accept Implemented Portfolios as the MDA Provider, you must do the following –
— Acknowledge the recommendations provided to you by signing the Authority to Proceed provided with your SoA recommending the use of MDA and the specific Investment Program.
— Enter a Collins SBA Advice Service Agreement; and
— Enter into a MDA Contract which authorises Implement Portfolios to transact on your behalf within the MDA service.
HOW CAN YOU PAY FOR OUR SERVICES?
We will discuss and agree on a flat dollar fee before your engage us and prior to commencing work for you. Some existing clients may pay us based on Funds under Advice with us. This option is not available to new clients from the date of this Financial Services Guide.
If you are current client and not already on a flat dollar fee arrangement for your service, you may choose to do so. You can pay for our services in the following ways:
We will provide you with details of all fees, commissions, or other benefits we may receive when we provide advice to you and, where possible, will give actual dollar amounts.
If we cannot provide you with an accurate dollar amount, we will provide worked-dollar examples. Even if you don’t receive personal financial advice from us, you can still request the details of any fees, commissions or other benefits we receive in relation to any other financial service we provide you.
OUR ASSOCIATIONS AND RELATIONSHIPS – IMPLEMENTED PORTFOLIOS
Implemented Portfolios is a Managed Discretionary Account (MDA) service provider. Collins SBA advisers are authorised to make recommendations to clients to utilise this MDA service where it is deemed to be in their best interests.
The following advisers and employees (or a related entity) hold shares in Implemented Portfolios Pty Ltd:
Total equity owned by the people named above or their related entities is less than 5% of the value of Implemented Portfolios Pty Ltd. Shareholders may receive a commercial return on their shareholdings.
Collins SBA advisers and employees may personally utilise Implemented Portfolios’ MDA service and pay the same fee as our clients for this service irrespective of whether they are a shareholder of Implemented Portfolios Pty Ltd or not.
From time to time we may accept alternative forms of remuneration from product providers or other parties, such as hospitality or support connected with our professional development e.g training or sponsorship to attend conferences.
We maintain a register detailing any benefit we receive which is valued at between $100 and $300 and other benefits that relate to information technology software or support provided by a product issuer or that relate to educational and training purposes. A copy of the register is available on request for a small charge.
To meet with a Collins SBA adviser please phone or email us an adviser will determine whether we can add value to your situation. If an initial appointment is required, we may charge up to $350 AUD for the first appointment. Your adviser may choose to waive this fee depending on your engagement of services with us thereafter.
ADVICE PREPARATION AND IMPLEMENTATION
Before we do any work for you we will provide you with a Letter of Engagement which sets our your objectives, your advice and service options (where applicable) available and related fees. The advice fee covers the cost of researching, preparing and delivering your SoA to you and is a set dollar amount. Implementation of your advice is included in the fee quoted to you in your Letter of Engagement.
If the scope of advice or service needs to change after you have engaged us, we will notify you in writing of any increase to your fee prior to continuing. Depending on the service option you choose, the complexity of advice required and whether or not implementation is required, the minimum project fee is $1650 AUD inclusive of GST.
ONGOING FEE FOR ADVICE
An Ongoing Fee Arrangement (OFA) covers the cost to review the strategies and products recommended in your SoA and plan ahead so that your wealth plan remains relevant to changing circumstances.
To ensure the OFA is of value, simple, personalised and fair, we consider the following items relevant to your specific situation to determine our fee for service, complexity, structures, funds under advice, as well as the intangible value. Intangibles may include; delivery of advice and strategy, and ensuring you are financially organised. It enables us to meet our compliance requirements to protect you, provide ongoing support throughout the year, and helping you achieve your goals and objectives. In short, we provide peace of mind.
Before providing you with ongoing advice we will provide you with an OFA, which will provide you with the ongoing scope of advice, services to be provided and fee. For new clients as of 3 September 2020, the OFA will be charged as a flat dollar amount and will generally increase with price changes and/or positive CPI on an annual basis.
An increase to the OFA fee more than CPI is likely in the situation that the scope and/ore service and advice to you has changed and agreed between you and your adviser. You will be notified in advance of any increases to the OFA. OFA start at $220 AUD per month inclusive of GST.
Where you do not wish to participate in an OFA or if you require advice and/or service outside the scope of an existing engagement for advice, we will notify you of the fee for this additional work prior to any work being done for you.
The relevant insurer will pay initial commission between 0% and 60% and ongoing commission between 0% and 20% of the annual premium for as long as you hold the product. Commissions are paid to us by the product provider and are not an additional cost to you.
Example: If you purchase a relevant life insurance product and the annual premium is $450, SBA advice may receive up to $270 (60%) as an initial payment. Assuming the premium stays the same, each year SBA Advice may receive up to $90 p.a. (20%) as an ongoing (trail) commission.
David Woolford – Adviser
Freedom = Hockey
Philip Hall – Adviser
Freedom = Travel and Beach time
LIFE INSURANCE ADVICE
Collins SBA will charge a fee for service for advice regarding life insurance. We will quote the fee applicable to your situation and require your acceptance before we commence work.
Depending on the service option you choose, the complexity of advice required and whether or not implementation is required, the fee generally falls between $550 AUD and $4,400 AUD, but will be prices according to your specific circumstances.
A fee for risk insurance advice ensures you receive objective professional advice in relation rto your life insurance needs including the type of cover, cover amount and products suitable for your situation.
OUR LIFE INSURANCE ADVICE INCLUDES:
— A detailed fact find of your situation
— A thorough needs risk analysis of how you and your dependents (where applicable) may be financially impacted in the event of a significant health event or death occurring
— Preparation and presentation to you of a STatement of Advice (SoA) that details all of the above, our recommendations and costs you will incur to implemt as well as disclosure of any commissions we may receive.
This fee for advice is in addition to commissions, if any, that we may receive. Commissions remunerate us for the implementation of the specific products (including applications and underwriting management) and ongoing maintenance of your policies thereafter, including future claims management. Commissions are only paid after you have successfully put in force a life insurance product and our fee for service ensures you can be assured that you are implementing the right cover with clarity and certainty. Initial and ongoing commissions from insurance providers may be recive by SBA Advice. These commissions are paid to SBA advice Pty Ltd by the company that issues the product that SBA Advice Pty LTd advisers recommend to you and they are included in what you pay for the product. The commissions vary and are based on the policy cost, which is the sum of the premiums you pay and may include other fees related to the products.
The initial commission is paid in the first year by the product issuer to SBA Advice Pty Ltd. Ongoing commissions are payments paid by product issuers to SBA Advice Pty Ltd in the years after the first year. These commission may be passed onto us. You will find details of how our insurance policy cost is calculated in the relevant PDS that we provide you. Where personal advice is provided to you, you will also find details of the commission that SBA Advice Pty Ltd and we are entitled to receive if you decide to purchase a life insurance product in your SoA or RoA.
LIFE INSURANCE EXAMPLE
You have an existing policy with us, issued in 2017, and in 2019 you decide to increase the cover of that policy with a corresponding increase in policy cost of $100 per annum. SBA Advice Pty Ltd may receive up to $70 AUD (70% exclusive GST) as initial commission on that increase and may pass up to $70 AUD to us. The ongoing commission payable to SBA Advice Pty Ltd in respect of this increased policy cost may be up to $20 per annum (20% exclusive GST)
Or we may recommend an insurance product to you and it is issued on 2 April 2019. The annual policy cost is $450. SBA Advice Pty Ltd may receive up to $315 (70% exclusive GST) as an initial commission and may pass up to $315 AUD to us. Assuming the policy cost stays the same each year, SBA Advice Pty Ltd may receive up to $90 per annum (20% exclusive GST) as an ongoig commission and may pass up to $90 per annum to us.
On 2 September 2020, you decide to increase your insurance cover again. The cost of this increased cover is $100. The initial comission payable to SBA Advice Pty Ltd in respect of this increase will up to $60 (60% exclusive GST). The ongoing commission payable to SBA Advice Pty Ltd in respect of this increae will be up to $20 per annum (20% exclusive GST), payable in respect of this increase will be up to $20 per annum (20% exclusive GST), payable in respect of the period starting from the first anniversary of the date on which you increased your insurance cover (i.e 2 September 2021). These commission may be passed onto us.
You will find details of how your insurance policy cost is calculated in the relevant PDS that we provide to you, you will also find details of the commission that SBA Advice Pty Ltd and we are entitled to receive if you decided to purchase a life insurance product, in your SoA or RoA.
Nicholas Davey: Authorised Representative number 242611
Nick has experience in empowering clients to make smart and informed decisions with their money, and make certain they achieve their desired lifestyle and goals for their future. His coaching, advice and guidance ensures his clients are in charge of cash flow and building and protecting wealth tax effectively.
Graduate Diploma of Financial Planning, Certified Financial Planner CFPTM
Jonathan Elliot: Authorised Representative number 239748
– Managing Director and Adviser
Jonathan has many years of experience in helping our clients build, protect and manage their wealth – using cash flow management, sound investment strategies, risk insurance, and estate planning.
Bachelor of Commerce, Diploma of Financial Planning, Certified Financial Planner CFPTM
David Woolford : Authorised Representative number 414768
David is experienced in working with our clients to help them build, protect and manage their wealth through a broad range of financial strategies. David enjoys creating long-term relationships that ensure clients remain on-track to achieve their personal and financial goals.
Graduate Diploma of Financial Planning, Bachelor of Economics Certified Financial Planner CFPTM
Nicolas is a director of SBA Advice Pty Limited ABN 44 611 373 383 (AFSL 488301) and a shareholder of Collins SBA Holdings Pty Ltd, which is the shareholder of SBA Wealth Management Pty Ltd. Nicolas is an employee of SBA Wealth Management Pty Ltd which has been in association with SBA advice Pty Limited.
Jonathan is a director of SBA Advice Pty Limited ABN 44 611 373 383 (AFSL 488301) and a shareholder of Collins SBA Holdings Pty Ltd, which is the shareholder of SBA Wealth Management Pty Ltd. Jonathan is an employee of SBA Wealth Management Pty Ltd which has been in association with SBA advice Pty Limited.
David is a shareholder of Collins SBA Holdings Pty Ltd, which is the shareholder of SBA Wealth Management Pty Ltd. David is an employee of SBA Wealth Management Pty Ltd which has been in association with SBA advice Pty Limited ABN 44611373 383 (AFSL 488301)
Patrick Gardner: authorised representative number 1269236
Patrick works closely with clients to design financial strategies to achieve their needs and objectives.
Diploma of Financial Planning, Bachelor of Business and Bachelor of Economics
Philip Hall: authorised representative number 1006250
Phil is an experienced planner who enjoys working with clients to meet their financial goals now and into the future. He educates and guides clients; enabling them to make informed decisions to build, protect and manage wealth through abroad range of financial strategies.
Bachelor of Education (Honours), Graduate Diploma of Financial Planning, Certified Financial Planner CFPTM
Liam Catchpole: authorised representative number 1272322
Liam works in collaboration with our advisers to formulate strategy and produce advice for our clients in line with their goals and objectives.
Bachelor Business (Finance), Bachelor of Economics (Economic Analysis), Graduate Diploma of Financial Planning.
Patrick is an employee of SBA Wealth Management Pty Ltd which has an association with SBA Advice Pty Limited ABN 44 611 373 383 (AFSL 488301)
Philip is an employee of SBA Wealth Management Pty Ltd which has an association with SBA Advice Pty Limited ABN 44 611 373 383 (AFSL 488301)
Liam is an employee of SBA Wealth Management Pty Ltd which has an association with SBA Advice Pty Limited ABN 44 611 373 383 (AFSL 488301)
HOW WILL YOUR FINANCIAL ADVISER BE PAID FOR THE SERVICES PROVIDED?
All fees and commissions disclosed in this Financial Services Guide which are attributed to the services provided to you by me are payable to SBA Advice.
As shareholders in SBA Wealth Management Pty L:td, Jonathan Elliot and Nicholas Davey receive a share of the profits from SBA Wealth Management Pty Ltd. Any amount payable will be determined as appropriate from time to time.
Nicholas Davey, Jonathan Elliot, David Woolford, Patrick Gardner, Philip Hall and Liam Catchpole receive a salary as employees of SBA Wealth Management Pty Ltd.
All advisers may also receive a performance bonus which is based on individual qualitative and quantitative performance criteria and revenue generated for Collins SBA.
The directors of SBA Wealth Management Pty Ltd have a profit share arrangement to distribute profits to shareholders and staff.
HOW CAN YOU CONTACT YOUR FINANCIAL ADVISER?
Phone: 1300 265 722
Address: 29 Murray Street, Hobart, Tasmania 7000
Postal Address: GPO Box 1082, Hobart, Tasmania 7001
We collect personal information, including sensitive information (e.g. health information) from you to provide you with services including financial advice. We may also use your information to comply with legislative or regulatory requirements in any jurisdiction, to prevent fraud, crime or other activity that may cause harm in relation to the particular products or services provided, and to help us run our business.
If you do not provide all the information we request, we may no longer be able to provide a product or service, including financial advice to you.
We may disclose your personal information to anyone we engage to do something on our behalf such as a service provider, and other organisations that assist us with our business. We may also disclose your personal information to third parties such as a complaints body to whom a complaint relating to a product or service is referred, your past and present employers, any party acquiring an interest in our business and anyone acting on your behalf.
We may also collect from the parties listed above any personal information they may hold about you which relates to our provision of financial advice.
As a provider of financial services, we have obligations to disclose some personal information to government agencies and regulators in Australia, and in some cases offshore.
We are not able to ensure that foreign government agencies or regulators will comply with Australian privacy laws, although they may have their own privacy laws. By using our products and services, you consent to these disclosures.
SBA advice is also required, pursuant to the Anti-Money Laundering and Counter Terrorism Financing Act (AML/CTF) and its corresponding rules and regulations to implement certain client identification processes. We may be required to obtain information about you, and from time to time in order to meet our legal obligations. We have certain reporting obligations pursuant to the AML/CTF Act and information obtained from or about you may be provided to external third parties and regulators in accordance with the requirements imposed on us.
We will update our Private Policy from time to time. Where you have provided information about another individual, you must make them aware of that fact and the contents of this privacy statement. We will use your personal information to contact you or send you information about other products and services offered by us or our preferred suppliers. If you do not wish to receive marketing communications from us, please let us know.
Our feedback process.
We focus on complete financial solutions.
You can focus on your freedom.