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Financial Services and Credit Guide

Version 3.1

Issue date: 02/08/2017  

It is important that you read this Financial Services and Credit Guide (FSCG). It contains information that will help you decide whether to use any of the financial services offered by us, as described in this guide, including:
 
  • who we are and how we can be contacted
  • the advice and services we provide
  • information about our licensee Charter Financial Planning Limited (Charter) 
  • our fees and how we, your adviser and Charter, are paid in connection with those services
  • how we manage your private information
  • how you can complain about a matter relating to us or Charter

Documents you may receive

We will provide you with a number of documents as you progress through our financial planning process, to capture each stage of your advice journey. We may provide these documents to you, electronically to your nominated email address, unless otherwise agreed.
 
When we provide personal advice, it will normally be documented and provided to you in a Statement of Advice (SoA), known as a financial plan. The financial plan contains a summary of your goals and the strategies and any financial products we may recommend to achieve your goals.  It also provides you with detailed information about product costs and the fees and other benefits we and others, will receive as a result of the advice we have provided.
 
If we provide further personal advice, a financial plan may not be required.  We will keep a record of any further personal advice we provide you for seven years. You may request a copy of such records by contacting our office during that period.
 
If we recommend or arrange a financial product for you, we will provide a product disclosure statement (PDS) or investor directed portfolio service (IDPS) guide where relevant. These documents contain the key features of the recommended product, such as its benefits and risks as well as the costs you will pay the product provider to professionally manage that product.
You should read any warnings contained in your advice document, the PDS or IDPS guide carefully before making any decision relating to a financial strategy or product.

About our practice

We understand that everyone’s needs and goals are different. Whether you are looking for financial advice to help achieve your long term goals or facing a life changing event, we are here to help you choose the right path.
 
Name DRB Financial Planning Pty Limited trading as DRB Financial Advisers as Trustee of the DRB Financial Advisers Discretionary Trust
Australian Business Number: 81 361 535 475
Authorised representative number: 403900
Australian Financial Services number: 234665
 
Our office contact details:
Address Suite 2, Level 1,
336 Keira Street,
Wollongong, NSW 2500
Phone (02) 4228-1888
Fax (02) 4228-1777
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Website www.drbgroup.com.au/
 
This guide provides information about our advisers including their contact details, qualifications, experience, the services they may offer and financial products they can provide advice on.

Our advice and services

We can provide you with personal and general advice about specific services and financial products listed below. We can also arrange for financial products to be issued without advice from us.
 
Individual advisers within our practice may not be qualified to provide advice in all of the services and products noted below. Their individual profile guides will note any limitations to the advice they are qualified to provide. At all times we will ensure the appropriate adviser is available to you to provide advice consistent with your goals.
 
The following table sets out the areas of advice we can help you with as well as the products and services we can arrange. 
Any additional advice or services we can offer you, or limitations to the list below, will be outlined in Our Financial Advisers and Credit Advisers on page 11.
 

We can provide advice on:  

  • Investments strategies (strategic asset allocation)
  • Budget and cash flow management
  • Debt management (including borrowing for personal and investment purposes)
  • Salary packaging
  • Superannuation strategies and retirement planning
  • Personal insurance 
  • Estate planning
  • Centrelink and other government benefits
  • Ongoing advice and services, including regular portfolio reviews
  • Aged care

 We can arrange the following products and services:

  • Superannuation, including retirement savings accounts
  • Self-managed superannuation funds (SMSF)
  • Borrowing within your SMSF
  • Employer superannuation
  • Managed investments
  • Investor directed portfolio services (for example, administration platforms)
  • Deposit and payment products (for example term deposits, cash management accounts and non-cash payment products)
  • Standard margin loans
  • Retirement income streams, including pensions and annuities
  • Personal and group Insurance (life cover, disability, income protection and trauma)
  • Life investment products including whole of life, endowment and bonds
  • Securities (including listed securities and corporate debentures)
  • Exchange traded funds
  • Arranging for listed securities, shares and debentures to be bought and sold via a platform and broker.
  • Limited selection of investment guarantees
Charter maintains an approved products and services list, which includes products issued by AMP companies and a diversified selection of approved Australian and International fund managers. These have been researched by external research houses as well as our in-house research team.
 
Charter periodically reviews these products to ensure that they remain competitive with similar products that address similar client needs and objectives. Generally, we recommend products that are on the approved products and services list. However, if appropriate for your needs, we may, subject to Charter’s approval, recommend other products.
 
A copy of the approved products and services list can be supplied to you upon request.
 
If we recommend a new platform or portfolio administration service, we use those issued or promoted by the AMP Group or as otherwise approved by Charter and where appropriate to your circumstances.
 
As at March 2017, the lenders whose products are most commonly recommended by Accredited Mortgage Consultants authorised by Charter are: 
 
Lenders
  • AMP Bank
  • ANZ
  • NAB 
  • Commonwealth Bank
  • Westpac
  • ING Direct
  • Bank of Melbourne
  • AFG Home Loans
  • ING Direct
  • Members Equity (ME) Bank 

Tax implications of our advice

Under the Tax Agent Services Act 2009, DRB Financial Advisers is authorised by the Tax Practitioners Board to provide tax (financial) advice services on matters that are directly related to the nature of the financial planning advice provided to you. We will not consider any other tax matters in our advice to you. Where tax implications are discussed they are incidental to our recommendations and only included as an illustration to help you decide whether to implement our advice.

Transaction services

If you do not require advice, we can also arrange for you to apply for limited types of financial products where we can take your instructions and arrange for the transaction to be completed, without providing personal advice. If you wish to proceed without our advice, we will ask you to confirm your instructions, which we will document in writing. You can ask us for a copy of this documentation at any time.
 

Your relationship with us and using our services

You can contact us directly with any instructions relating to your financial products. This includes giving us instructions by telephone, mail or email. We can only accept your instructions via email once you have signed an authority form. We will work with you to agree what advice and services we will provide and when and how often we will provide them.
 
Where you agree to ongoing advice and services, the details will be documented and provided to you in a service agreement. This includes the frequency of contact between us, service standards that may apply, any ongoing fee arrangements and how the service can be terminated.
 
If at any time you wish to terminate your relationship with us, please contact us using the details shown in this guide.
 

Providing information to us

It is important that we understand your circumstances and goals, so that we can provide you with appropriate advice and services. You have the right not to provide us with any personal information. Should you choose to withhold information, or if information you provide is inaccurate the advice or services we provide you may not be appropriate for you.
 
It is also important that you keep us up to date by informing us of any changes to your circumstances so we are able to determine if our advice continues to be appropriate.
 

Our fees

My preferred method of payment is by an agreed fee. The actual fee charged to you will depend on the nature of the advice or service I provide. I will discuss and agree the actual fees with you before I proceed. The following section outlines the types of fees that may apply.
 
The fees charged for our advice and services may be based on a combination of:
  • A set dollar amount; or
  • A percentage based fee.
Our agreed advice and service fees may include charges for:
  • Initial advice 
  • Ongoing advice
Please note that for services in relation to insurance, banking deposit products, some loan products and older investment products, commissions may be paid by the product provider as follows:
 
  • Initial commission - a percentage of the value of your investment contributions and
  • Ongoing commission - a percentage of the value of your investment balance, usually calculated at the end of each month in which you hold the investment.

Payment methods

We offer you the following payment options for payment of our advice fees:
  • BPAY, direct debit (savings), credit card or cheque
  • Deduction from your investment
All fees and commissions will be paid to Charter as the licensee. They retain an amount (a licensee fee) to cover their licensee costs and the balance is passed onto us. The amount is determined annually, based on a number of factors, including our business revenue and the number of advisers in the practice. 
  

Other costs

Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs. However, we will agree all additional costs with you prior to incurring them.
 

Other benefits we may receive

 
The following is a list of benefits we may receive other than those explained above. These are not additional costs to you. These benefits may be monetary or things like training, events or incentives we are eligible for.
 
In addition to the payments we may receive for our advice and services, we may receive other support services. These can include financial and training assistance, prizes and awards or events in recognition of financial planning excellence and innovation, and business performance.
 
We may also participate in business lunches or receive corporate promotional merchandise tickets to sporting or cultural events and other similar items.
 

Development, management and advice recognition

 
We may qualify to receive a DMA to recognise and reward our growth and professionalism.  The DMA is based on a rate, calculated once per year, and determined by our ranking relative to other Charter Financial Planning practices.  Up to 50% of all Charter Financial Planning practices may qualify for DMA payments.  The rate may range from 0% to 3.25%, depending on our ranking.  It is then applied to our practice revenue of the prior year and paid to us in two instalments a year.
 
For example, if our DMA is set at 1% and our revenue for the prior year was $200,000, we would receive a total of $2,000 for that year, paid over two instalments.
 

How our performance is ranked

 
Ranking of practices is determined yearly by a points system which is a broad measure of the growth and professionalism of our practice as compared to other practices in the Charter Financial Planning network.  The points system is based on a combination of factors within a balanced scorecard such as the quality of our services, compliance, our business goals and our engagement with our clients through a measure called Advice Growth Index. AGI measure the value of our fee for service revenue and the change in our clients' product holdings over the prior measurement period (usually a period of approximately 12 months).
 

Value participation scheme

AMP will provide us a cash payment based on the total value of in force annual premiums on insurance products and funds under management in some AMP products provided the annual premiums and funds under management exceed set thresholds. The amount paid is based on the following:
 
  • A tiered rate of up to 3% is applied incrementally to total premiums on some AMP insurance products that exceed the thresholds. For example, if our clients pay a combined annual premium of $450,000 for insurance with AMP, we may receive an annual payment of up to $3,700, with the rate applied dependant on the total combined premium.
  • A tiered rate of up to 0.2% is applied incrementally to the proportion of total funds under management in AMP wealth management products that exceed the thresholds. For example, if our clients have invested over $50,000,000 in qualifying products and a new client invests $40,000,000 into an AMP product we may receive up to $30,000 in respect of that specific investment. The rate applied is dependent on the total qualifying funds under management.

Buyout option

If we leave the financial services industry, we are eligible to sell the register rights of our client base to Charter Financial Planning Limited. The valuation of these rights is based on a multiple of the annual financial planning revenue generated by our practice. 
 

Personal and professional development

Charter provides personal and professional opportunities in the form of multi tiered development program, offered annually to qualifying practices. 
 

Summit

The Summit is a national convention available to advisers from all Charter practices. Charter subsidises the expense of those who attend the convention up to a maximum of value of $1200 per annum per practice. 
 

Charter Leaders program

Certain practices that meet the qualification criteria on an annual basis will be eligible to participate in the Charter Leaders program, a set of personal and professional development programs organised by Charter. The qualification criteria is based on a combination of factors including the quality of our services, our business goals and our ranking against other practices in Charter. If a practice qualifies for the Charter Leaders program, Charter will subsidise the cost of their participation up to a maximum value of $10,000 per annum per practice. 

Business Support

We might receive financial assistance including subsidies or reimbursements for accounting, legal and bank fees; marketing or other once-off transitional support costs, to help us grow our business or implement appropriate succession planning options.
 

Placement Fees  

From time to time Charter will receive fees from brokers or product issuers (including AMP group companies) for arranging client participation in Initial Public Offerings (IPOs) of securities (such as shares and rights issues). The fee, which is generally a percentage of the fee paid to the broker, varies from offer to offer and by the level of participation by Charter. We may share in this fee based on the level of participation by our clients.

 

About our licensee

 
Charter Financial Planning Limited
ABN 35 002 976 294
 
Australian Financial Services Licensee and Australian Credit Licensee No: 234665
 
Charter is a member of the AMP Group and has:
  • Approved the distribution of this guide
  • Authorised us to provide advice and other services as described in this guide
  • Authorised us to provide credit assistance services to you
Charter’s registered office is located at 33 Alfred Street, Sydney, NSW 2000.
 

About the AMP Group

Charter is a member of the AMP group of companies. We can provide advice on products from a wide range of financial product providers, some of which are part of the AMP Group and as such Charter is affiliated with:
 
  • National Mutual Funds Management
  • NMMT Limited
  • N.M. Superannuation Pty Limited
  • Multiport Pty Limited
  • ipac asset management limited
  • AMP Bank Limited 
  • SMSF Administration Solutions Pty Ltd
  • AMP Capital Funds Management Limited
  • AMP Capital Investors Limited
  • AMP Superannuation Limited
  • AMP Life Limited
  • Cavendish Superannuation Pty Ltd
  • Australian Securities Administration Limited (ASAL) 
  • Super IQ Pty Ltd
If we recommend a product issued by the AMP Group or a third party product issuer, they will benefit from our recommendation by receiving product, administration and investment fees, as well as fees paid by fund managers to distribute their product. These fees are all disclosed in the relevant PDS or IDPS guide.
 
Authorised representatives and/or staff employed in our business may hold shares in AMP Limited, whose share price may be favourably affected by the sale of products issued by AMP Group companies.
 

Charter’s relationships with other companies

Issuers of products do not pay to be included on the approved products and services list.
 
Product issuers or service providers that have been selected for inclusion may pay AMP Services Limited the following benefits up to the following amounts (these are all inclusive of GST):
 
  • A fixed payment of up to $495,000 for risk insurance products.  
  • A fixed payment of up to $195,000 for investment products. 
Our practice does not receive any part of these payments. From time to time, product issuers have access to Charter and its authorised representatives to provide education as well as give training on their products.
 

Our other business activities and relationships

In addition to providing the services listed in this guide, we have a relationship with the DRB Group which provides Accounting, Bookkeeping and Taxation services, Business Advice, Sports Management, Superannuation and Finance. Charter has no involvement in these activities and is not responsible for any services, advice or products provided by this business.

we control a percentage of the equity interests in the business providing the services listed above. As a result we will benefit from fees, dividends or income received from the business's profits that may result from any payments or other benefits received in respect of the services provided to you. 

Confidence in the quality of our advice

 
If at any time you feel like you are not satisfied with our services, the following will help you understand your options and find a resolution.
 
  • Contact your adviser and tell them about your complaint.
  • If your complaint is not satisfactorily resolved within three days, please contact  AMP Advice Complaints on This email address is being protected from spambots. You need JavaScript enabled to view it. , or put your complaint in writing and send it to:
Attention: National Complaints Manager
 
AMP Advice Complaints
AMP Advice – Professional Standards and Compliance
Level 12, 33 Alfred Street
Sydney, NSW 2000
  • AMP Advice Complaints will try to resolve your complaint quickly and fairly.
  • If your complaint has not been resolved satisfactorily, you may escalate your complaint to one of the following External Dispute Resolution Schemes listed in the following below.
Any issues relating to financial advice, investments, superannuation or insurance matters:
 
Financial Ombudsman Service (FOS)
GPO Box 3
Collins Street West
Melbourne Victoria 3001
 
1300 780 808
www.fos.org.au
This email address is being protected from spambots. You need JavaScript enabled to view it.
 
Any issue relating to your personal information:
 
The Privacy Commissioner
GPO Box 5218
Sydney NSW 2001
 
1300 363 992
This email address is being protected from spambots. You need JavaScript enabled to view it.
 
You may also contact the Australian Securities & Investments Commission (ASIC) on 1300 300 630 (free call info line) to make a complaint and obtain information about your rights. You can also contact the Financial Planning Association (FPA) at http://www.fpa.asn.au to make a complaint (please note that the FPA cannot award compensation).

Professional indemnity insurance

We maintain professional indemnity insurance to cover our advice and the recommendations provided by your adviser. Charter is also covered by professional indemnity insurance and this satisfies the requirements imposed by the Corporations Act 2001 and National Consumer Credit Protection Act. The insurance covers claims arising from the actions of former employees or representatives of Charter, even where subsequent to these actions they have ceased to be employed by or act for Charter.
 

Your privacy

Your privacy is important to us. Below we outline how we maintain the privacy of the information we collect about you.
 

Privacy Collection Statement

As part of the financial planning process, we need to collect information about you. Where possible we will obtain that information directly from you, but if authorised by you we may also obtain it from other sources such as your employer or accountant. If that information is incomplete or inaccurate, this could affect our ability to fully or properly analyse your needs, objectives and financial situation, so our recommendations may not be completely appropriate or suitable for you.
 
We are also required under the Anti-Money-Laundering and Counter-Terrorism Financing Act (AML/CTF) 2006 to implement client identification processes. We will need you to present identification documents such as passports and driver’s licences in order to meet our obligations.
 
We keep your personal information confidential, and only use it in accordance with our Privacy Policy. Some of the ways we may use this information are set out below:
 
  • Your adviser and Charter may have access to this information when providing financial advice or services to you;
  • Your adviser may, in the future, disclose information to other financial advisers, brokers and those who are authorised by Charter to review customers' needs and circumstances from time to time, including other companies within the AMP group;
  • Your information may be disclosed to external service suppliers both here and overseas who supply administrative, financial or other services to assist your adviser and the AMP group in providing financial advice and services to you.  A list of countries where these service providers are located can be found in the AMP Privacy Policy.
  • Your information may be used to provide ongoing information about opportunities that may be useful or relevant to your financial needs through direct marketing (subject to your ability to opt-out as set out in the AMP Privacy Policy);
  • Your information may be disclosed as required or authorised by law and to anyone authorised by you.
Your adviser and Charter will continue to take reasonable steps to protect your information from misuse, loss, and unauthorised access, modification or improper disclosure. You can request access to the information your adviser or Charter holds about you at any time to correct or update it as set out in the AMP Privacy Policy. The AMP Privacy Policy also contains information about how to make a complaint about a breach of the Australian Privacy Principles.
 
For a copy of AMP's Privacy Policy visit http://www.amp.com.au/privacy or you can contact us.
 

Our Financial Advisers and Credit Advisers

About Peter Blackett

Experience:  Peter Blackett has been providing financial advice to clients since 1998.
Qualifications:
  • Diploma of Financial Planning
  • Advanced Diploma of Financial Planning
  • Memberships Financial Planning Association Member no. 026814
  • CERTIFIED FINANCIAL PLANNER®
 
Phone (02) 4228-1888
Mobile: 0406 429 228
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Authorised representative number 294176
Credit representative number 395352
 

The advice and services I can provide

I am authorised to provide the services listed in the Our advice and services section of this guide, except for the following:
  • Employer super
Should you require advice and services that extend beyond my authority I can refer you to a suitably qualified adviser.
 
I am also a Credit Representative of Charter and am authorised to provide credit advice regarding how to structure debt, suitability of existing loan structures and repayment options. If you require advice involving mortgages or other lending products, I can refer you to an Accredited Mortgage Consultant.
 

How I am paid

I receive the following from our practice:
  • salary
  • bonus
  • equity in the practice
 

My other business activities and relationships

 
In addition to providing the services listed in this guide, I have a relationship with DRB Group. Charter has no involvement in these activities and is not responsible for any services, advice or products provided by this business.
 
I control a percentage of the equity interests in the business providing the services listed above. As a result, I will benefit from fees, dividends or income received from the business’s profits that may result from any payments or other benefits received in respect of the services provided to you. 
 

About Michael Banks

Experience: Michael Banks has worked in the Financial Services industry for over 15 years. He has been providing financial advice to clients since 2014.
 
Qualifications:
  • Bachelor of Economics (Honours),
  • Master of Strategic Management,
  • Diploma of Financial Planning,
  • Advanced Diploma of Financial Planning
Phone 02 4228-1888
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Authorised representative number 460645
Credit representative number 460707
 

The advice and services I can provide

I am authorised to provide the services listed in the Our advice and services section of this guide, except for the following:
  • Aged care
  • Employer super
  • Estate planning
Should you require advice and services that extend beyond my authority I can refer you to a suitably qualified adviser.
 
I am also a Credit Representative of Charter and am authorised to provide credit advice regarding how to structure debt, suitability of existing loan structures and repayment options. If you require advice involving mortgages or other lending products, I can refer you to an Accredited Mortgage Consultant.
 

How I am paid

I receive the following from our practice:
  • salary
  • bonus
  • equity in the practice

My other business activities and relationships

In addition to providing the services listed in this guide, I have a relationship with DRB Group. Charter has no involvement in these activities and is not responsible for any services, advice or products provided by this business.
 
I control a percentage of the equity interests in the business providing the services listed above. As a result, I will benefit from fees, dividends or income received from the business’s profits that may result from any payments or other benefits received in respect of the services provided to you. 
 

About Celia Barila                            

Experience: Celia Barila has worked in the Financial Services industry for over 16 years.

Qualifications:

  • Bachelor of Commerce
  • CPA Australia
  • Diploma of Financial Planning

Memberships:

  • CPA Australia

Phone   02 4228 1888

Email     This email address is being protected from spambots. You need JavaScript enabled to view it.

Authorised representative number: 1249166

Credit representative number: 492828

The advice and services I can provide

I am authorised to provide the services listed in the Our advice and services section of this guide, except for the following:

  • Aged care
  • Employer super
  • Estate planning
  • Gearing and margin lending
  • SMSF borrowing

Should you require advice and services that extend beyond my authority I can refer you to a suitably qualified adviser.

I am also a Credit Representative of Charter and am authorised to provide credit advice regarding how to structure debt, suitability of existing loan structures and repayment options. If you require advice involving mortgages or other lending products, I can refer you to an Accredited Mortgage Consultant.

How I am paid

I receive the following from our practice: 

  • salary
  • bonus

Where pre-determined criteria are met.

 
 
DRB Group Pty Ltd - DRB Financial Planning Pty Limited (ABN 64 060 921 762), DRB Financial Advisers Discretionary Trust (ABN 81 361 535 475), trading as DRB Financial Advisers, are authorised representatives of Charter Financial Planning, Australian Financial Services Licensee and Australian Credit Licensee. 
 
                                                                                                               
                                                                               
 
 

The difference

We measure our success by yours and we have the expertise to turn your goals into reality.
We offer comprehensive business and financial solutions under the one roof: that's our difference.