Licensee                      

 

Parker Wealth Management Pty Ltd

(AFSL 519344)

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This Financial Services Guide (FSG) is authorised for distribution by Parker Wealth Management.

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Corporate Authorised Representative

 

Parker Financial Services Pty Ltd

(ASIC# 242984 ABN 88 010 783 285)

 

Parker Financial Services acts on behalf of Parker Wealth Management who is responsible for the services that they provide.

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Your Financial Adviser

 

Your financial adviser is a director or employee of Parker Financial Services. Their details are set out in an Adviser Profile which is Part 2 of this FSG.

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Your financial adviser is an Authorised Representative of Parker Wealth Management. They act on behalf of Parker Wealth Management who is responsible for the services that they provide.

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Contact Details

 

Level 10 Canberra House

40 Marcus Clarke Street
CANBERRA  ACT  2600

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Phone: +61 (0)2 6267 0700
Fax: +61 (0)2 6257 8259
Website: www.parkerfinancial.com.au

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Purpose of this FSG 

 

This FSG will help you decide whether to use the services that we* offer. It contains information about:

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-         The services we offer and their cost

-         Any conflicts of interest which may impact the services

-         How we are remunerated

-         How we deal with complaints if you are not satisfied with our services.

 

* In this document ‘we’ refers to Parker Financial Services and your financial adviser.

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Parker Wealth Management              

 

Parker Wealth Management holds an Australian Financial Services Licence. It is required to comply with the obligations of the Corporations Act and the conditions of its licence.

 

This includes the need to have adequate compensation arrangements in place with a Professional Indemnity insurer for the financial services that it and its current and past representatives provide.

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Our services

 

We are authorised to provide personal advice and dealing services as specified in the Adviser Profile which is Part 2 of this FSG.

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The financial advice process

 

We recognise that the objectives and personal circumstances of each client are different.

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Where we provide personal advice, we will listen to you to understand your objectives and circumstances. We will also ask questions to make sure we provide advice which is in your best interests.

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When we first provide personal advice to you it will be explained thoroughly and documented in a Statement of Advice (SOA) which you can take away and read.

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The SOA will explain the basis for our advice, the main risks associated with the advice, the cost to you of implementing the advice, the benefits we receive and any conflicts of interest which may influence the advice.

 

At all times you are able to contact us and ask questions about our advice and the products we recommend.

 

For administration platforms, managed funds and personal risk insurance products we will provide you with a Product Disclosure Statement (PDS) or link to the PDS. This contains information to help you understand the product being recommended.

 

You can provide instructions to us in writing, via phone or via email. In some cases, we may require you to provide signed instructions.

 

We may provide further advice to you to keep your plan up to date for changes in your circumstances, changes in the law and changes in the economy and products.

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If we provide further advice it will be documented in a Record of Advice (ROA) which we retain on file. You can request a copy of the ROA document at any time up to 7 years after the advice is provided.

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Fees

 

All fees are payable to Parker Financial Services.

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Initial Fees

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The Advice Preparation fee includes meeting with you, the time we take to determine our advice and the production of the SOA. It is based on the scope and complexity of advice provided to you. We will agree the fee with you before providing you with advice.

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If you decide to proceed with our advice, we may charge an Implementation fee for the time we spend assisting you with implementation. We will let you know what the fee will be in the SOA. 

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Fixed Term Advice and Services Agreements

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Our annual Advice will be commensurate to the level of service that we provide you and the complexity of the advice provided. We will typically charge a fixed fee which is agreed with you at the commencement of each year. The fees can be deducted monthly from your account or paid by invoice half-yearly or annually in advance. You can elect to enter into a 12 month Fixed Term Advice and Services Agreement in order to receive advice services and reviews of your financial plan. Details of the services will be set out in your 12 month Fixed Term Advice and Services Agreement.

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Placement Fees

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Parker Financial Services may receive a one-off stamping fee or placement fees where you invest in some listed investments (eg. bank issued hybrids or IPO’s). These fees will be paid by the issuer of the investment and will typically be a set percentage of the investment amount. In most cases we will rebate these payments to you or apply a credit against your agreed advice fee.

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Execution Fees

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If we arrange implementation of any financial products, on which we have not provided advice, we may charge a fee for carrying out your instructions.  This will be a flat fee and the fee will be agreed with you prior to implementing your instructions.

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Commissions

 

We may receive insurance commissions and other benefits from some product providers. Commissions or benefits vary depending on the recommended product but will be clearly documented in the SOA or ROA.

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Insurance Commissions

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Parker Financial Services may receive a one-off upfront commission when you take out an insurance policy we recommend. We may also receive an ongoing commission payment for as long as you continue to hold the policy.

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Other Benefits

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We may receive other benefits from product providers such as training, meals and entertainment. Details of any benefits received above $100 will be maintained on a register which is available to you on request.

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Adviser Remuneration

 

The directors and owners of the practice are remunerated through the profits that the practice makes.

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Employees of the practice are paid a salary. They may also receive a performance bonus which is based on a number of criteria including the profits that the practice makes.

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Conflicts of Interest

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Your financial adviser may recommend investments in shares that they hold or may hold in the future. You will be advised where a conflict of interest may exist and how the conflict will be managed.

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Arrangements that may influence our advice

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Separately Managed Accounts (SMAs)

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Parker Financial Services provides advice on The Parker Financial Investment Series SMAs, operated by the portfolio manager Evidentia Group Pty Ltd (ABN 39 626 048 520 AFSL 511802) (Evidentia).  An SMA is a managed portfolio option designed for investors who require professional investment management, with the flexibility and transparency of direct asset ownership.

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Evidentia is a boutique asset consultant that works with select private wealth practices to design, build, implement and manage tailored investment portfolios.  Evidentia has an investment team with experience across all major asset classes and have been selected as an external portfolio manager to design and manage the composition of the Parker Financial SMA portfolios.  They work with the Parker Financial Services investment committee to provide oversight and governance on portfolio management recommendations, including but not limited to recommendations on asset allocation, investment selection and portfolio rebalancing.

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The Parker Financial SMAs are available on the HUB24 Custodial Services Ltd (ABN 94 073 633 664 AFSL 239122) (HUB24) HUB24 Invest and HUB24 Super administrative platforms, and the Macquarie Investment Management Ltd (ABN 66 002 867 003 AFSL 237492) (MIML) Macquarie Wrap investor directed portfolio service (IDPS) and Macquarie Super & Pension administrative platforms.  On the HUB24 platform, HUB24 is responsible for implementing the investment instructions of the portfolio manager, and on the Macquarie platform, it is MIML that is responsible for implementing the investment instructions of the portfolio manager.

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Ironbark Asset Management (Fund Services) Limited (ABN 63 116 232 154 AFSL 298626) (Ironbark) is the responsible entity for The Parker Financial Investment Series.  Ironbark issues the interests in, issues the PDS, and is responsible for the operation and management of the Parker Financial SMA portfolios available on the HUB24 platform.

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An investment management fee is charged to cover the costs of operating the managed portfolio and managing your investment; a percentage-based fee deducted from your relevant HUB24 or Macquarie cash account and paid to the responsible entity, asset manager, custodian and administrator.  Parker Financial Services do not receive any remuneration or additional fees for provision of the SMAs, or in relation to managing the investments in the SMAs on your behalf.

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Joint Venture

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Parker Wealth Management Pty Ltd will refer insurance services to MBS Parker Pty Ltd.  MBS Parker Pty Ltd is a Corporate Authorised Representative of MBS Advice Licence Pty Ltd (ABN 25 654 854 136 AFSL 536983) providing personal and business risk insurance advice only.  MBS Parker Pty Ltd is a jointly owned company with Parker Wealth Management Pty Ltd and MBS Advice Licence Pty Ltd.

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Parker Wealth Management Pty Ltd refers clients to MBS Parker Pty Ltd to receive risk insurance advice.  Although this relationship exists, each business (Parker Wealth Management Pty Ltd and MBS Parker Pty Ltd) is solely and separately responsible for the advice they each provide.  In particular, MBS Parker Pty Ltd is operating under MBS Advice Licence Pty Ltd (ABN 25 654 854 136 AFSL 536983) is only responsible for the services provided by MBS Parker Pty Ltd.  MBS Parker Pty Ltd is paid on a commission basis, refer to the MBS Parker Pty Ltd FSG for further details.  Parker Wealth Management Pty Ltd and MBS Parker Pty Ltd have a profit share arrangement.

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Referrals

 

You may be referred to an external specialist to receive further advice.  We do not receive any referrals fees or commission for introducing you to the specialist.  You are free to engage your own preferred professionals.  Our authorised representatives and Parker Wealth Management Pty Ltd (Licensee) shall not be liable for the provision of any advice and services provided by a third party.

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Any other relationships or associations we have that may influence our advice to you will be disclosed in the Adviser Profile (Part 2) of this FSG.

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Making a Complaint

 

We endeavour to provide you with the best advice and service at all times.

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If you are not satisfied with our services then we encourage you to contact us.  We accept complaints over the phone, in person, via email or letter or on our social media channels.  The best option is to call us or put your complaint in writing to our office.  We will endeavour to resolve your complaint in 5 business days.

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If you still do not receive a satisfactory outcome or we do not respond to you within 30 days after you make the initial complaint, you have the right to complain to the Australian Financial Complaints Authority (AFCA) at the following address:

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Australian Financial Complaints Authority (AFCA)
GPO Box 3
MELBOURNE  VIC  3001

Website: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678

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You may only contact AFCA once you have followed the above procedure.

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Our Complaints Handling Procedure is available on request and at our website at: https://www.parkerfinancial.com.au/complaint-handling.

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Your Privacy

 

We are committed to protecting your privacy.

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We have a Privacy Policy which sets out how we collect, hold, use and disclose your personal information. It also sets out how you can access the information we hold about you, how to have it corrected and how to complain where you are not satisfied with how we have handled your personal information.

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Our Complaints Handling Procedure is available on request and at our website at:  https://www.parkerfinancial.com.au/privacy-policy.

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