Financial Services Guide

What is a Financial Services Guide?

This Financial Services Guide (FSG) gives you information about the services provided by the Women’s Financial Network Pty Ltd.

Who we are

• How to contact us
• What services we are authorised to provide
• How we (and any other relevant parties) are paid
• Details of any potential conflicts of interest

Who to contact to make a complaint.

If you get personal advice from our Financial Planners we will give you a written record of advice which takes into account your objectives, financial situation and needs. This is called a Statement of Advice (SOA) and will detail what we recommend, why the advice is right for you and how our recommendations will work towards helping you achieve your financial goals. It will also contain information about any fees, commissions and any associations we have with financial product providers or other parties which may have influenced the advice we provide to you.

If we recommend to you a particular financial product, we will give you information about the particular financial product by providing you with a Product Disclosure Statement (PDS). This will help you make an informed decision about the financial product.

Please take a moment to read through our Financial Services Guide, which was prepared on 1st July 2013 and issued by the Women’s Financial Network. It is intended this FSG should assist you in determining whether to use any of the services described in this document. You have the right to ask about our charges, the type of advice we will provide you and what you can do if you have a complaint about our services.

If you do not wish to receive our advice, we may act on your behalf by carrying out your instructions on an “execution-only” basis.

However, if you do not obtain financial advice, you face the risk that the financial product(s) you select will not fully take into account your objectives, financial situation or needs.

Please contact us if you have more questions about the Women’s Financial Network or this guide.

Phone: (03) 9486 0122
Fax: (03) 9486 0133
Email: info@womensfinancialnetwork.com.au

The Lucient Building 6G
430 St Kilda Road
Melbourne, VIC 3004

You can also write to us at:

PO Box 6164
Chapel Street North LPO
South Yarra
Victoria 3141

Who is responsible for the financial services provided?

Women’s Financial Network Pty Ltd ABN 89 073 041 451 (WFN) is responsible for the financial services provided by your adviser including authorising the distribution of this Financial Services Guide (FSG). WFN is an Australian Financial Services licensee and Australian Credit Licensee 303011.

What Services Do We Offer?

WFN provides a range of different services and you can choose the services that meet your particular needs, including:

• Financial Coaching Wealth Creation Wealth Preservation Debt reduction
• Investment advice Portfolio Management Negative Gearing Life insurance
• Income protection Superannuation Self Manager Super Estate Planning

Which Financial Products Do We Use?

WFN provides advice on, and deals in, the following Financial Products:

Deposit and Payment Products, limited to:
• Basic deposit products
• Non-cash payment products
• Debentures, stocks or bonds issued or proposed to be issued by a government

Life Products, including:
• Investment life insurance products
• Life risk insurance products

Interests in a managed investment Portfolios, including:
• Investor directed portfolio services
• Retirement Savings Accounts
• Securities
• Superannuation/Self Managed Superannuation Funds

Who is my adviser?

Your adviser will be Susan Jackson who is authorised to act on behalf of the licensee.

Susan Jackson is the founder and Executive Director of the Women’s Financial Network. Since its establishment in 1995 Susan has developed the network into a multi-faceted business that provides a broad range of financial services. This also included the launch of msmoney.com.au in 2009, a free online resource on money and finances.

As a licensed financial planner, Susan has been assisting individuals with their financial planning requirements since the late 80’s and is a sought after speaker, facilitator of financial literacy programs, magazine contributor and regular presenter on radio and television. She is also the author of the Women’s Guide to Buying Property, The Investment Club Start Up Guide, Why Saving is Like Dieting and Budgets Don’t Work and ms moneys Guide to the Global Financial Crisis.

Susan believes understanding finances is like learning a new language and so you need to learn the basics and build from there.

Her style of advice is like that of a coach – someone who is there to teach, encourage and empower you. Her ability to make difficult appear simple is one of the trademarks of her success and clients of all ages and situations have benefited from her practical advice and how can I help you approach.

Susan has completed her diploma in Financial Planning and is a member of the Financial Planning Association. Susan is also an accredited financial planner for Collaborative Family Law.

Susan has twice been a nominee for the Telstra Women in Business Awards, finalist in the 2003 and 2005 Telstra Small Business Awards, 2007 winner of the Financial Planning Good Advice Awards and finalist in the 2011 Female excellence in advice award.

How Will I pay for the Services Provided?

WFN and its representatives operate primarily on a fee-for-service basis. Fees will be charged according to the range of services provided as agreed upon prior to implementation and will be reviewed as and when appropriate to clients needs. You have the option of paying on an hourly basis or selecting one of our membership options in our schedule. All fees are payable within 7 days of invoice unless an instalment program has been arranged. Fees can be paid via cash, cheque, credit card (Visa, MasterCard, Amex, Diners) or via electronic payment.

WFN fees and charges (effective as of 1st July 2013) fees are inclusive of GST.

Initial Consultation $495 set fee

All new clients start with an initial consultation where we look at your current situation, your goals and objectives and identify what your financial planning needs are. The initial consultation can last between 1 and 1.5 hours and at the conclusion we will discuss any further action or advice that may be required.

In some instances we are able to provide the advice you need during the initial consultation and in these situations you will receive a short written summary of what was discussed. However, if your situation is such that you need more complex strategic advice then you may need a more detailed statement of advice or comprehensive financial plan. For any additional advice you may be charged an hourly rate or a set fee. At all time we will endeavour to provide you with the level of advice that is most appropriate for your needs.

Financial Plan / Statement of Advice Cost Varies

The cost for a comprehensive Financial Plan (now called a Statement of Advice or SOA) which includes financial modelling, strategies and investment recommendations varies according to the detail and complexity involved. The cost can vary from $1,100 for a simple plan to $10,000 for a complex plan.

The plan fee does not include any follow up sessions or costs associated with implementation of recommendations.

Implementation Fees Cost Varies

Where specific product recommendations are made i.e. Shares, insurances, managed funds, superannuation etc we will charge an implementation fee.

The fee will vary according to the amount of time involved in setting up the new fund etc and will be charged at the rate of $165 per hour. At all times the implementation fees will be fully disclosed in the SOA.

Family Law Advice $385 per hour

Family Law, collaborative & non-collaborative is charged at an hourly rate. Clients requiring advice in relation to property and/or asset settlements will be charged hourly rate for any meetings, discussion or advice provided.

Ongoing Advice / Pay as You Go Advice Cost Varies

For ongoing advice you have the option of paying an hourly rate of $330 per hour or taking up one of our annual membership options. Ongoing advice includes client meetings, reviews, reports, phone and email advice and administrative time involved in maintaining your client file. Our membership options are as follows:

BRONZE Membership $880 per annum (maximum 3 hours advice PA)
Best suited to clients who are just getting started or those who just require ad-hoc financial advice from time to time. It will also suit ongoing investment clients who have an investment portfolio of $100,000 or less.

SILVER Membership $1,650 per annum (maximum 6 hours advice PA)
The membership is suited to those clients wanting to become more active with their money, those who required more regular advice or ongoing investment clients who have an investment portfolio under $250,000.

GOLD Membership $3,850 per annum (maximum 15 hours advice PA)
Suits more active investors who have an investment portfolio greater than $250,000 but less than $1,000,000.

PLATINUM Membership $7,150 per annum (maximum 30 hours advice PA)
This membership is for those clients who have a portfolio that is greater than $1,000,000 or clients who have complex investments or strategies in place.

Research Fee – only applicable to those clients who have investments we directly manage on their behalf. This is an annual fee which covers the costs involved in the ongoing investment research we do on behalf of our investor clients. The research fee is based on the portfolio value as follows:

Portfolio Value Research Fee
Less than $100,000 1.10%
$101,000 – $250,000 0.66%
$251,000 – $500.000 0.55%
$501,000 – $1,000,000 0.44%
Over $1,000,000 0.33%

Does WFN have any relationships or associations with any financial product issuers?

At this point in time WFN does not have any relationship, association or receive any benefit from any financial product issuers or financial institution and is a privately owned entity.

Is WFN a member of any associations?

WFN is a member of the Financial Planning Association (FPA) where WFN and all WFN representatives are required to adhere to the FPA’s Code of Ethics and Rules of Professional Conduct. The Code requires WFN and its representatives to maintain registers for any alternate remuneration received, where such remuneration is material. This register is referred to as “the Alternate Form of Remuneration Register” and provides for the following;

• It outlines the alternative forms of remuneration which are paid and received from givers and receivers
• It is maintained by Fund Managers, IDPS (platform) providers, Representatives and Licensees
• Registers are publically available and will be provided upon request

Are There Any Risks Involved?

Everything we do is transparent so that you fully understand what we are recommending and why. We will try to educate you about possible investment and market risk. If you are unclear about any aspect of the advice that you have received you should ask your Financial Planner to explain it to you.

If I Decide to Receive Personal Financial Advice, What Information Should I Provide to You?

You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information so that we can offer you the most appropriate advice possible. You have the right not to tell us if you do not wish to.

However, if you do not, the advice that you receive may not be appropriate to your needs, objectives and financial situation. You would read the warnings contained in the SOA carefully before making any decision relating to a financial product.

What Information is Maintained in My File and Can I Examine My File?

We maintain an electronic record of your personal profile including details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you. We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. If you wish to examine your file please ask us and we will make arrangements for you to do so.

Our privacy policy is available at www.womensfinancialnetwork.com.au and sets out in detail our policies on the management of personal information. You can also obtain a copy free of charge form our office at The Lucient Building 6G, 430 St Kilda Road, Melbourne or by contacting us on 03 9486 0122.

What Should I Do if I Have a Complaint?

If you have any complaints about the service provided you should take the following steps. Firstly contact your adviser and tell your adviser about your complaint. If your adviser does not satisfactorily resolve your complaint within 3 days please contact the Women’s Financial Network Compliance Manager on 03 9486 0122 or put your complaint in writing and send it to:

The Compliance Manager
Women’s Financial Network
PO Box 6164
Chapel Street North LPO
SOUTH YARRA VIC 3141

We will try to resolve your complaint quickly and fairly. If the complaint cannot be resolved to your satisfaction you have the right to refer the matter to the Financial Ombudsman Service (FOS) of which WFN is a member. They can be contacted on 1300 780 808 or you can write to them at GPO Box 3, Melbourne, 3001.