Financial Services Guide

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.

About AXIS Financial Group
AXIS Financial Group provides financial advice throughout Australia.

AXIS Financial Group is a privately owned financial services business.

Our objectives are clear and disciplined – to provide clients with the appropriate financial solutions to meet their needs and objectives.

What services does AXIS Financial Group provide?

AXIS Financial Group holds an Australian Financial Services Licence (No 233680), which authorises us to provide advice through a wide range of products, including:

  • Superannuation
  • Life insurance
  • Deposit products
  • Managed funds
  • Margin lending
  • Shares and Debentures

We offer tailored corporate superannuation and group insurance services for employers and their employees and we provide individuals with comprehensive personal superannuation and insurance financial planning advice.

Details on the services we offer and our applicable fees and charges are outlined as follows:

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 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 negotiated and will be 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 provides personal advice to eligible members of certain employer-sponsored superannuation funds. This is arranged by the employer and paid for by the employer. This advice 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 are negotiated and will depend on the
agreed employer service package. This will depend on the employer needs and size of the corporate superannuation fund. Again 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.

Non-employer funded (pre-existing service arrangement)
We do not charge employees any fees for providing advice about their employer-sponsored superannuation. However, where a pre-existing service arrangement is in place with the employer prior to 1 July 2013 to provide service to members’ of the employer-sponsored superannuation fund, we do receive remuneration connected with members’ investments and insurance cover. The fees vary depending on our agreement with individual employers and include:

  • Service fee: Payments from superannuation trustees based on the ongoing value of investments (nil to 0.75% per annum).
  • Insurance fee: Up to a maximum of 30% of the insurance premium as a fee for managing insurance options.

This arrangement will continue until a member has moved into the new “fee-for-service” arrangement or a significant event results in the existing service arrangement being cancelled.

Fee-for-service
From 1 July 2013, AXIS will engage all new members of employer-sponsored superannuation funds on a fee-for-service basis. We will offer personal advice and service dependent on the personal requirements and preferences of the member.

This advice may cover topics within the corporate superannuation fund such as comparison of the members current superannuation arrangements, contributions, investment strategy, life insurance options and spouse account (if applicable). The fees charged for our advice and services will be based on a set dollar amount that is agreed between you and us. Fees range from a one-off fee of up to $550 depending on the advice service selected and $385 per annum for ongoing advice services. For clients that have attained preservation age we offer transition to retirement advice for a one off cost of $880.. All fees are inclusive of GST and may change without notice.
These fees are charged on an “Opt In” basis, which means that fees can only be charged once acknowledged and consented to by you in writing by completing the “AXIS Service Agreement for Personal Financial Advice” document. 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 advice or ongoing service.

Personal clients
For personal clients, i.e. those clients that are not a member of an employer-sponsored superannuation fund, we offer a full range of superannuation and insurance services:

  • Superannuation product advice
  • Life insurance advice
  • Communications and publications
  • Annual reviews
  • Ongoing investment and contribution advice

The fees charged for our advice and services will be based on a set dollar amount that is agreed between you and us. Fees range from a one-off fee of up to $550 depending on the advice service selected and $1,320 per annum for ongoing advice services. Additional advice services outside the above offers are charged at a rate of $330 per hour. All fees are inclusive of GST and may change without notice. These fees are charged on an “Opt In” basis, which means that fees can only be charged once acknowledged and consented to by you in writing by completing the AXIS Service Agreement for Personal Financial Advice” document. 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 advice or ongoing service.

Group Life Insurance
XIS may receive an insurance commission payment from the insurer for group insurance arrangements. The total amount of this commission is included in the premium and is not an additional cost.

The level of commission is generally a percentage (0% – 30%) of the annual premium Authorised Representatives may receive a share of this commission.

Other fees
AXIS Financial Group does not charge Entry Fees on contributions to superannuation or upon rollovers into any superannuation product.

Other important information
Before we recommend a superannuation investment or financial 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 by letter 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 the AXIS Financial Group and all members of the Group are partners, authorised representatives or employees of AXIS Financial Group.

Advisers employed by AXIS Financial Group are paid a salary. AXIS offers a potential performance bonus to Advisers that recognises the provision of quality advice and the engagement of members in their superannuation decision making.

AXIS may also provide licensee services to external advisers under a licensee fee arrangement. In these situtaion 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 ongoing service fee or commission per their licensee agreement in relation to the authorised financial product or 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, all of whom are active in the business as salaried executives on a daily basis. 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. In particular, 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.

Privacy
As an experienced and well-regarded financial services organisation, we have always protected the privacy of our clients. The information we may collect is only used to meet our responsibilities as your adviser.

We collect personal information from you so that we can provide superannuation, financial planning and/or insurance services.

We only ask for information where it is necessary, as outlined in our Privacy Policy. If the information is not provided, we may not be able to provide advice or other services to you.

Our Privacy Policy describes in more detail the procedures we follow for collecting, holding, using and disclosing personal information as well as how you can access information, correct it or make a complaint. Please ask your adviser if you would like to receive a copy our Privacy Policy or visit our website.

How can you give us instructions?
You may provide us with information in meetings or by telephone or email. However, we generally only act on written investment instructions.

Complaints
If you have any complaint about the service provided to you by AXIS Financial Group, you should take the following steps.

  • Contact a member of the AXIS Financial Group Corporate Superannuation Advisory Team to discuss your complaint.
  • If your complaint is not satisfactorily resolved within five days, please contact the Compliance Manager, on 08 9426 5800 or put your complaint in writing and send it to AXIS Financial Group PO Box 7259 Cloisters Square Perth WA 6850 We will try and resolve your complaint quickly and fairly.
  • If you are not satisfied with our response to your complaint you can request a further investigation by writing to the:Financial Ombudsman Service GPO Box 3 Melbourne VIC 3001 Phone 1800 367 287 (Freecall)AXIS Financial Group is a member of this service.

Contact

Who do I contact if I have any questions about this Financial Services Guide?
Address
The Compliance Manager
Level 4
150 St Georges Terrace, Perth WA 6000

Postal Address
The Compliance Manager
PO Box 7259, Cloisters Square, Perth WA 6850

Contact Details
T: 08 9426 5800
F: 08 9426 5850
Freecall: 1800 111 299
E: super@axisfg.com.au
W: www.axisfg.com.au

Version 13 April 2017

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