At Eclipse, we feel it is important that you know you have the right to ask us about our charges, the type of advice we will give you and what you can do it you have a complaint about our services.
The questions and answers below, as set out in our Financial Services Guide (FSG), are provided for your information prior to us providing you with a financial service. The FSG includes details of who we are, how we can be contacted, what financial services we are authorised to provide to you, the remuneration and other benefits received by Professional Investment Services Pty Ltd, (PIS), as Licensee, the adviser and any other relevant parties, details of any potential conflict of interest, details of our internal and external dispute resolution procedures and how you can access them.
Before you get our advice
When you get our advice
If you have any complaints
Before you get our advice
Who will be providing the financial service to me?
Your adviser will provide the financial service to you. Please refer to the Supplementary Financial Services Guide (SFSG) contained in this FSG for details about your adviser. Your adviser is an authorised representative of Professional Investment Services (PIS) and PIS is the holder of an Australian Financial Services Licence (Licence Number 234951).
What type of Financial Services is Professional Investment Services authorised to provide me and what types of products do those services relate to?
- Financial planning services
- Wealth creation
- Estate planning
- Banking services
- Share trading facilities
- Tax planning strategies
- Insurance services
- Salary packaging
- Retirement planning
Your adviser is authorised by PIS to provide you with the types of product advice detailed in the SFSG. In most cases personal advice will be provided, however if you do not require personal advice, general advice is also available.
Who do you act for when you provide financial services to me?
Your adviser will be acting on behalf of PIS as its Authorised Representative. PIS is responsible to you for any financial advisory services that your adviser provides.
PIS is a principal member of the Financial Planning Association of Australia Limited.
How will I pay for the service and do you receive remuneration, commission, fees or other benefits when providing the financial services to me? How is that remuneration calculated?
The cost of our service to you will depend on the nature of the service provided.
We may receive commission and/or marketing support, in which case the payment will be made to us by the fund manager/life company you invest/contract with. Generally, the commission will be based on the amount you invest or purchase and may vary from product to product. Full details are contained in the Product Disclosure Statement and/or Statement of Advice available from your adviser.
Fees/commissions are paid to us by the fund manager/life company you invest/contract with. They are paid at the time you invest/contract and in most cases during the life of your investment/contract.
Alternatively, we may charge a fee payable by you based on either the time we spend developing your SoA or the value of funds invested. If you choose to pay a fee, we may rebate to you part or all of the commission we would otherwise receive. We will invoice you for the relevant fee when you receive our SoA.
ONGOING FEES (TRAILS)
Ongoing management fees are payable as agreed with your adviser. We may receive an ongoing, or what is called a trailing commission, which may form part of the fund manager’s management fee and in most cases, is not an extra charge to you. Refer to Statement of Advice and/or Product Disclosure Statement for details. In the case of insurance, renewal commission may be paid by the relevant life company. Your adviser will provide full details in your SoA.
Should you be referred by a third party, for example an accountant, the third party in most cases will receive a fee for the referral. You will receive more detailed information concerning any referral fee or commission from the person who referred you to your
Do any relationships exist which might influence you in providing me with financial services?
Professional Investment Holdings Ltd, the holding company of PIS has a shareholding in Mentor Investment Services Ltd (MIS) and MIS will receive management fees from your investment in the Mentor Superannuation Master Trust and /or Mentor Portfolio Service.
Also, depending upon the volume of funds the adviser may have under management in Mentor-based products, your adviser may become eligible to receive a financial benefit and/or shareholding in MIS as a result of your investment.
Professional Investment Holdings Ltd has a shareholding in Ventura Investment Management Ltd (VIML) and VIML will receive management fees from your investment into the fund. Also, depending upon the volume of funds the adviser may have under management in Ventura-based products, your adviser may become eligible to receive a financial benefit and/or shareholding in VIML as a result of your investment into the Ventura Investment Program. Professional Investment Holdings Ltd has a 100% holding in Discovery Investment Services Corporation Ltd.
Professional Investment Holdings Ltd has an 80% holding in ARC Funds Management. Professional Investment Holdings Ltd also receives a financial benefit from the Australian Master Superannuation Fund and Retirement Income Account. Professional Investment Services Pty Ltd receives a percentage of premiums from the Professional Protection Plan and may receive a share of the profit. Professional Investment Services Pty Ltd may receive various marketing allowances on some products up to 5% and/or conference sponsorships from various product providers up to $16,000. This list of Strategic Alliance Partners is current as at August 2004.
- Advance Funds Management Ltd
- Asteron Life Limited
- Australian Skandia Limited
- Aviva Limited
- Barossa Vines Limited
- Brooklyn Park Olives Groves Ltd
- BT Financial Group
- Challenger Financial Services Group
- Colonial First State Investment Limited
- Colonial Margin Lending
- Commonwealth Bank of Australia
- Forest Enterprises Pty Ltd
- Great Southern Securities Pty Ltd
- Gunns Plantations Limited
- ING Group
- Invesco Australia Limited
- Investment Diversity Limited
- Lumley Life Limited
- Macquarie Investment Management Ltd
- Palandri Investment Management Ltd
- Perpetual Investment Management Ltd
- Sealcorp Holdings Limited
- St George Margin Lending
- Timbercorp Agribusiness Investment Managers
Please note, depending upon the volume of business transacted, your adviser may become eligible to purchase a shareholding in Professional Investment Holdings Ltd. Please refer to the adviser’s SFSG for details, if applicable. Your adviser may also participate in ongoing cumulative reward programs and receive cash and/or non-cash benefits in relation to a financial product or from a product issuer.
Please refer to the adviser’s SFSG and SoA for details, if applicable.
When you get our advice
Will I be given advice that is suitable to my needs and financial circumstances?
Yes. But to do so we need to establish your individual financial objectives, financial circumstances, needs and requirements before we recommend any financial products or services to you. You have the right not to divulge this information to us if you do not wish. In that case, we are required to warn you about the possible consequences of us not having your full personal information. You should take notice of these warnings.
What should I know about any risks of the financial products or strategies you recommend to me?
We will explain to you any significant risks of financial products and strategies that we recommend to you. If you feel that you need further clarification then please ask your adviser.
What information do you maintain in my file and can I examine my file?
If you wish to examine your file, you should contact your adviser and he/she will make arrangements for you to do so.
Can I provide you with instructions and tell you how I wish to instruct you to buy or sell my financial products?
Yes. You may specify how you would like to give us instructions. For example by telephone, fax, email or other means.
If you provide further market-related advice via telephone what documentation will be provided to me?
If your adviser provides you with further market-related advice via telephone (or execution-related telephone advice) with respect to financial products that can be traded on a licensed market, you may request from him/her a record of the advice given (if you have not previously been provided with such a record). The request may be verbal or in writing and it should be made within 90 days of the advice being given.
If you have any complaints
Who can I complain to if I have a complaint about the provision of the financial services to me?
If you do have a complaint about Professional Investment Services or one of our representatives, we need to hear from you. To lodge a complaint please contact the Complaints Resolution Officer at Professional Investment Services.
The Australian Securities and Investments Commission (ASIC) also has a freecall Infoline 1300 300 630 which you may use to obtain information about your rights. We are members of FICS.