Financial Services Guide
Version 4
Date: 29 June 2022
Independent
Clarke Advisory Group does not receive or keep any commissions or payments from product providers, does not receive remuneration based on the volume of business placed with an issuer of a financial product, receives no gifts or benefits from a product provider that may reasonably be expected to influence our advice, operates free from direct or indirect restrictions relating to financial products on which we advise and operates without any conflicts of interest arising from associations or relationships with product providers. By doing this we are allowed to use the words Independent, Impartial or Unbiased when describing our business. We meet the definition of ‘Independent’ as per s923A of The Corporations Act.
FINANCIAL SERVICES GUIDE
The financial services referred to in this guide are offered by:
Clarke Advisory Group Pty Ltd ACN 633 459 597 AFSL No. 516752
PO Box 219 Dee Why NSW 2099
Suite 203/4, 111 Harrington St Sydney NSW 2000
Email: clinton@clarkeadvisory.com.au
Phone: 0414 867450
This guide explains:
• The services and types of financial products we’re able to offer you
• Information we need from you in order to perform our work
• How we are paid and any other benefits we may receive
• Any conflicts of interest that may exist
• How we protect your privacy and handle your personal information
• How we resolve potential disputes and what to do if you have one
Other documents you may receive:
In addition to this FSG, when we provide you with initial financial advice we will also present you with a written Statement of Advice (SOA). This will describe the strategies, products and services we recommend and the reasons why, outline any remuneration we will receive in the form of any fees and describe any associations we may have with financial product providers or other parties that have not already been disclosed in this FSG. If you receive further financial advice from us, we will present you with either another SOA or keep our own written Record of Advice (ROA). You can request a copy of this by contacting us any time up to seven years from the date of the advice provided. Please refer to the “Contact us” section of this FSG for our contact details
We will also provide you with a Product Disclosure Statement (PDS) or offer document for all financial products we recommend, where applicable. This will outline the product in detail to help you make an informed decision about whether it is right for you. In certain circumstances it is not a requirement that you be given a PDS (for example if you have previously been given one and it has not changed)
About your adviser
Your adviser Clinton Clarke acts as an Authorised Representative number 242247 of Clarke Advisory Group who is the holder of Australian Financial Services licence no 516752.
Clinton holds a Bachelor of Science degree and a Master of Science degree in Engineering, as well as the Diploma of Financial Planning and has been providing financial planning advice to personal and business clients since 1996.
What we do
Clinton Clarke is authorised by Clarke Advisory Group to provide financial advice in relation to:
• Wealth accumulation
• Income and asset protection
• Tax strategies
• Superannuation
• Retirement and redundancy planning
• Estate planning
• Government benefits
• Debt management
And to provide advice and deal in the following financial products:
• Basic deposit products
• Non-basic deposit products
• Government debentures, stocks or bonds
• Life products – Investment Life insurance
• Life products – Life risk insurance products
• Managed investment schemes, including investor directed portfolio services (IDPS)
• Retirement savings account products
• Securities
• Superannuation
Clarke Advisory Group is responsible for the financial services provided including the distribution of this FSG.
Our associations and relationships
Clarke Advisory Group does not own, and is not owned or controlled by, any financial product provider or by any financial institution/s such as a fund manager, bank, insurance company or trade/credit union. None of these institutions has a vested interest in our business and are not therefore in a position to influence us in the provision of advice.
Information we need from you
We expect that you will provide us with accurate information that we request including your personal objectives, details of your current financial situation and any other relevant information, so that we have a reasonable basis on which to provide you with advice.
And we expect that you will use our advice to enable you to make informed financial decisions.
As a financial service provider, we have an obligation under the Anti-Money Laundering and Counter Terrorism Finance Act to verify your identity and the source of any funds. This means that we will ask you to present identification documents such as a passport and/or driver’s license. We will also retain copies of this information.
You are of course at liberty to decline to provide some or all of this information, but if you do not provide it, we may not be able to:
• Provide you with appropriate advice and/or recommend appropriate products or services you may need
• Manage or administer your product or service
• Verify your identity or protect against fraud
• Let you know of other products or services that may better meet your financial needs and lifestyle goals.
Protecting your Privacy
Protecting your privacy is essential to our business. Your file containing your information will be held securely in electronic form using multi-layer security and if held in physical form, will be stored in locked metal cabinets that are held within a securely locked office that itself is located within a building with after-hours access restrictions both at the entrance and other levels.
Giving instructions
If you want to make changes to your financial plan or provide us with instructions, you can contact us. Please refer to the “contact us” section of this FSG. Generally, you will need to give us instructions in writing (e.g. e-mail or letter) or in person.
Information we maintain on file and for how long
We need to hold all information you give us for a period of 7 years. You can gain access to your personal information that we hold about you. This is subject to some exceptions allowed by law. We will give you reasons if we deny access. You can find out how to access your information by reading our Privacy Policy, available by contacting us.
Compensation arrangements in place and compliant
It should be noted that Clarke Advisory Group has Professional Indemnity Insurance in place to cover us for the financial services that we provide. We understand that it is adequate to meet our requirements as a financial services licensee and meets the provisions of RG126. The policy includes coverage for claims made in relation to the conduct of representatives/employees who no longer work for us (but who did at the time of the relevant conduct).
We will provide you with the associated risks of certain financial products/strategies
We will explain to you any significant risks of financial products and strategies, which we recommend to you. If we do not do so, you should ask us to explain the risks 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 policy can be requested at any time.
Confidence in our advice
Your satisfaction is very important to us and we have procedures in place to try and resolve any concerns promptly and fairly. We are committed to providing quality advice to our clients. This commitment extends to providing accessible complaint resolution mechanisms for our clients. If you are unhappy with the advice you receive or other aspects of our service, please follow the steps outlined below:
Please contact your adviser in the first instance and explain your concern so we can act on it immediately. If your adviser is unable to satisfactorily resolve your complaint within 7 working days, please contact our dispute resolution team in writing and send your correspondence to PO Box 219, Dee Why, NSW, 2099.
If we cannot reach a satisfactory resolution within a further 30 days you can send your complaint to, The Australian Financial Complaints Authority, (AFCA) at PO Box 3 Melbourne Victoria VIC 3001. Their free call number is 1800 931 678. The Australian Securities and Investments Commission, (ASIC), also has a free call info line on 1300 300 630 which you may use to make a complaint or obtain information about your rights.
Remuneration or other benefits we receive
The services you receive are paid for by the fees that you are charged. To assist you in making an informed decision, we will discuss with you and agree on any fees payable before providing a service. The Corporations Act requires us to fully disclose all fees and charges, so if you are in doubt, please ask us to explain.
All fees for our services are payable to the licensee Clarke Advisory Group. Your adviser will also provide full details of any fees in your Statement of Advice.
We offer clients a selected range of payment options although our preferred method for ease of administration is by deduction from your investment or other account.
We’ll provide you with details of all fees or other benefits we may receive when we provide advice to you and, where possible, will give actual dollar amounts. If this information cannot be provided, we’ll provide an example of how the calculation works. All fees and charges will be clearly disclosed to you in writing by your adviser at the time the advice is provided in your Statement of Advice. Even if you don’t receive personal financial advice from us, you can still request the details of any fees or other benefits we receive in relation to any other financial service we provide you.
We may charge an initial fee for the time we spend meeting with you, discussing and understanding your circumstances and objectives, gathering relevant information, developing and preparing a written financial plan for you, explaining your plan and implementing your plan. Our fee is calculated based on the scope of work this process involves and the complexity of your circumstances and objectives as well as the value of funds you invest. Your initial fee for our services may be paid when we invoice you at the time when you receive our written recommendations, or we may agree with you for your initial fee to be deducted from your investment funds. We charge a fee for ongoing advice and service, inclusive of GST, which is dependent on the scope of services and the complexity of advice offered. This fee would usually be collected monthly from your investment portfolio. Ongoing service, including meetings, discussions, reviews, management of your investment portfolio, recommendations and reports are generally covered by our ongoing advice fee but in exceptional circumstances where extra work is required, we may negotiate an additional ad hoc fee with you.
Alternative remuneration (Non-monetary benefits)
Clarke Advisory Group and your financial adviser keep a register detailing certain non-monetary benefits received e.g. benefits valued at over $300, and those that relate to genuine education or training and technology software or support. Sometimes in the process of providing advice, we may receive benefits from product providers such as being invited to attend workshops aimed at continuing professional education and development.
Managed Investment Products
We do not accept commissions from managed investment providers as our time and expertise are covered by our initial fee or our ongoing fee and are based on the scope of work required, the value of the funds you invest and the financial products you use.
Contact us
For more information on anything you have read in this FSG, to obtain a copy of our Privacy Policy or if there is anything else we can help you with, please contact us at:
Clarke Advisory Group
PO Box 219, DEE WHY, NSW, 2099
Phone: 0414 867 450
Email: clinton@clarkeadvisory.com.au
Web: www.clarkeadvisory.com.au