Important Information
This Financial Services Guide (FSG) is designed to help you decide whether to use the services offered by AXIS Financial Group. It contains information about our services, how we are paid and what to do if you have a complaint about our service.
We will give you a written Statement of Advice (SOA) when we provide advice based on your personal investment objectives and circumstances. The SOA includes our advice, the basis for the advice and details of any payments or benefits we may receive in connection with the advice.
A Record of Advice (ROA) will be provided instead of an SOA if there have been no significant changes in your personal circumstances or the basis of the advice has not significantly changed since the last SOA was provided.
If a specific financial product is recommended, we will also provide you with a Product Disclosure Statement. This sets out important information you should consider when deciding to acquire the product, such as the benefits, risks, costs and any other relevant features.
AXIS Financial Group is responsible for the advice provided and services offered to clients by an Authorised Representative of AXIS Financial Group.
What services does AXIS Financial Group provide?
AXIS Financial Group Pty Ltd holds an Australian Financial Services Licence (No 233680), which AXIS Financial Group operates under and authorises us to provide advice for the following classes of financial products:
- Superannuation
- Life insurance
- Deposit products
- Managed funds
- Shares and Debentures
About AXIS Financial Group
AXIS Financial Group provides financial advice throughout Australia.
Our objectives are clear and disciplined – to provide clients with the appropriate financial solutions to meet their needs and objectives.
Lack of Independence
Due to the receipt of some life risk insurance commissions, we do not satisfy the definition of ‘independent’ under the terms of s923A of the Corporations Act. In all other cases, we charge a fee for our advice services and do not receive commissions or other payments from product providers.
Details on the services we offer and our applicable fees and charges are outlined as follows:
We offer tailored corporate superannuation and group insurance services for employers and their employees and we provide individuals with personal scaled superannuation and insurance advice.
Services for employers
We offer employers consulting services for evaluating, designing, tendering, selecting, implementing and transitioning a corporate superannuation fund and/or group insurance arrangement that meets both their business and employee needs.
We also deliver employer service packages, education and communication programs and provide ongoing servicing so that employees can understand and maximise the benefits of their employer-sponsored superannuation.
The costing for these services is dependent on the employer needs and size of the corporate superannuation fund and workforce.
A scope of work and applicable consulting fees are provided in a proposal document and agreed with employers before we undertake any work. If an employer engages the services of AXIS, the agreed fees including GST will again be disclosed in the SOA for the advice provided.
Employer Funded
AXIS Financial Group may provide personal advice to eligible members of certain employer-sponsored superannuation funds. This service can be arranged by the employer and paid for by the employer.
This service is delivered using SuperWiser which is operated by Super Simpler Pty Ltd (ABN 74 150 240 421) a privately owned financial services and technology business and Corporate Authorised Representative (AR 468201) of AXIS Financial Group Pty Ltd (AFSL 233680). Refer to www.superwiser.com.au for further details.
The advice provided may cover topics such as comparison of current superannuation arrangements, contributions, investment strategy, and life insurance options all within superannuation.
The fees charged to the employer will depend on the agreed employer service package. Again this will depend on the employer needs and size of the corporate superannuation fund, a scope of work and fees including GST are provided in a proposal document and agreed with employers before we undertake any work. This is formalised in a signed service agreement between AXIS and the employer. The employer is invoiced for the fees payable in relation to the agreed service. There is no cost or fee payable by the employee in this case.
AXIS Financial Group may also be paid an agreed retainer fee by the employer to promote the use of SuperWiser to its workforce. In this instance it is at the discretion of the employee if they wish to utilise the service. Any cost for advice provided using this service is charged and payable via SuperWiser under the service agreement with the individual. Details of specific services offered and applicable fees and charges are outlined on the page of the SuperWiser website.
Fee-for-service
AXIS engages with new or existing individual clients if you require pre-retirement or retirement advice on a fee-for-service basis. We offer personal scaled advice and service in relation to optimising your superannuation dependent on your personal needs, objectives and situation. This advice may cover topics within superannuation such as:
- Superannuation product;
- Consolidation of superannuation;
- Contribution strategy;
- Investment strategy;
- Group insurance cover (Death, Total & Permanent Disability and Salary Continuance)
- Transition to Retirement pension; and
- Account Based pension.
The fees charged for our advice and services will be based on a set dollar amount (including GST) that is agreed between you and us.
These fees are charged on an “Opt In” basis, which means that fees can only be charged once acknowledged and consented by you in writing by completing the relevant “Service Agreement” document. The relevant service agreement details what is included for the fee. The agreed amount will be deducted from your superannuation account.
If there is no agreement in place then AXIS will not be able to provide any personal scaled advice service.
Insurance Claims
AXIS provides a service to help members with their Life, Total and Permanent Disability, and Income Protection insurance claims.
Fees for our insurance claims service are usually charged to and paid by the employer, subject to the service agreement in place with the employer. If there is no service agreement in place with the employer for insurance claims, then an individual can utilise the service (if required).
Fees may be charged as a one-off fee ranging up to $5,500 inclusive of GST. There is an ongoing service for Income Protection claims of up to $550 per annum including GST. Any ad-hoc services outside scope are charged at a rate of $330 per hour including GST. Payment for service may be deducted from the super account or via direct payment to AXIS.
Other important information
Before we recommend a superannuation strategy to you, it is very important for us to understand your particular investment objectives, financial situation, and personal needs. We will let you know if our advice is based on information that may be incomplete or inaccurate. We also explain any significant risks relating to the investments and strategies we recommend to you. If you do not fully understand these risks, please ask for more information.
Whenever we initially provide you with advice on a personal financial product, we will give you a Statement of Advice (SOA). We may provide subsequent advice over the telephone or via email without giving you a new SOA. You may request a record of the advice we have given you within seven years, unless you have already received a SOA or other record of the advice.
Superannuation and group insurance advice is available from AXIS Financial Group and all members of the Group are either partners, authorised representatives, or employees of AXIS Financial Group. Advisers employed by AXIS Financial Group are paid a salary.
AXIS may also provide licensee services to external advisers under a license fee arrangement. In these situations, the adviser is an authorised representative under the AXIS licence and usually employed by their own business. In these circumstances the adviser will receive a percentage of any advice or ongoing service fee per their licensee agreement in relation to service provided.
AXIS Financial Group may, from time to time, receive a benefit from preferred product providers by way of sponsorship of training, information technology, and ad hoc benefits of less than $300.
You have a right to request further information in relation to the remuneration and the range of amounts or rates of remuneration received by AXIS Financial Group and your financial adviser.
AXIS Financial Group is a partnership of four private individuals, two of whom are active in the business as salaried executives daily. The nature of being a partnership means that, individually, the four partners share 100% of any profit made by AXIS Financial Group.
When you receive personal advice from us, we will provide further details of the fees AXIS Financial Group or an AXIS Financial Group adviser may receive for specific products or services.
AXIS Financial Group confirms that it has arrangements in place to ensure it continues to maintain Professional Indemnity Insurance in accordance with s.912B of the Corporations Act 2001. Our Professional Indemnity Insurance, subject to its terms and conditions, provides indemnity up to the sum insured for AXIS Financial Group and our authorised representatives/employees in respect of our authorisations and obligations under our Australian Financial Services Licence. This insurance will continue to provide such coverage for any authorised representative or employee who has ceased work with AXIS Financial Group for work done whilst engaged with us.
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 passports and driver’s licence. We will also retain copies of the information. We assure you that this information will be held securely.
