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Our 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.

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.

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

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.

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 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 negotiable 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.

Fee-for-service

AXIS engages with all new members of employer-sponsored superannuation funds and individual clients 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; and
  • Insurance cover (Death, Total & Permanent Disability and Salary Continuance)

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. The fee-for-service arrangements are detailed below (including GST):

Corporate Members

Other Services

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.  These 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, three 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 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 if you would like to receive a copy of 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 AXIS Financial Group to discuss your complaint (refer to contact details below).
  • Please refer to the “Complaints Resolution” section on our website www.axisfg.com.au for further information on lodging and resolving complaints.
  • If your complaint has not been resolved within 30 days from the date of lodging your complaint or the issue has not been resolved to your satisfaction, then you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers and their contact details are:

Australian Financial Complaints Authority (AFCA)
GPO Box 3, Melbourne VIC 3001
Phone 1800 931 678 (freecall)
Email: info@afca.org.au
Online: www.afca.org.au.

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 19 – November 2021

  • Let's talk about the right super fit for your employees.

Testimonials

Mitsui & Co. (Australia) Ltd engaged AXIS Financial Group in reviewing the existing employer super arrangements and clarifying which product provider might be best for Mitsui & Co. (Australia) Ltd and it’s group of companies.

AXIS Financial Group provided a concise explanation as to who might be best and why, in particular ensuring that the internal project team had the information to feel confident as decisions were made. The project team moved from arguably being daunted by the prospect of improving this particular employer funded employee entitlement and better understood how to manage super as a remuneration benefit through the detailed analysis and explanation provided by AXIS Financial Group

Antony Auliso
General Manager - Human Resources Division
Mitsui & Co. (Australia) Ltd

I want to thank AXIS Financial Group for their efforts in handling insurance claims on behalf of the employees of WesTrac. From the moment AXIS Financial Group were appointed to the task, they moved so seamlessly into position and have made sure that WesTrac is not only better serviced as a result but also more informed about claims progress. I also note the outstanding results achieved by AXIS with respect to marketing and placement of our employer super policy.

It seems nothing is a problem for the AXIS team and I would commend all employers to consider this service.

Gary Carter
Group Insurance Manager
WesTrac Pty Ltd

AXIS Financial Group’s knowledge of employer super is second to none.

DXC tasked AXIS Financial Group with consolidating multiple superannuation funds to a
single company-wide default fund. They delivered, displaying superior knowledge of their
industry, along with the highest level of service and diligence.
From start to finish – the initial analysis of our previous funds, the detailed tender process,
the transition to our new fund, and post-transition – AXIS Financial Group always made
themselves available for support.
We strongly recommend speaking to AXIS Financial Group for all matters relating to
employer super.

Michael McGoldrick
Director, Compensation Asia Pacific
DXC Technology