Financial Services Guide

This guide contains important information about the services we offer, how we and our associates are paid, any potential conflict of interest we may have and our internal and external dispute resolution procedures and how you can access them.

Who is Selfmanagedsuper.com.au?

Selfmanagedsuper.com.au provides a self-managed superannuation service unlike any other available in the market. We offer comprehensive financial advice services as well as a no-advice administration and compliance service to the trustees of self-managed super funds. Since 2006 we have helped thousands of investors with their financial advice and self-managed superannuation needs. Our business is unique as our clients have the ability to choose between our advice and no-advice service offerings.

Further information about our services can be found on our website 
selfmanagedsuper.com.au

Selfmanagedsuper.com.au is owned and operated by Best Interest Advice Pty Limited.

Best Interest Advice Pty Limited operates under Australian Financial Services Licence (AFSL) Number 292925

What financial services and products are provided?

Our AFS Licence permits us to advise on and deal in the following classes of financial products:

  • deposit and payment products
  • government debentures, stocks or bonds
  • investment life insurance products
  • life risk
  • insurance products
  • managed investments
  • retirement income streams
  • securities
  • superannuation
  • self managed superannuation funds

Who is my adviser?

Your adviser is Best Interest Advice Pty Limited, if you do not wish to receive our advice, we may act on your behalf in which case we will only be carrying out your instructions. If you do not obtain advice, you face the risk that the investments or financial product(s) you select may not allow you to meet your objectives, or be best suited to your financial situation.

Best Interest Advice Pty Limited is responsible for the actions of its employees and representatives. However, Best Interest Advice Pty Limited is not responsible for services provided to you by any other third party including other financial service providers.

Advice documents you may receive

As part of our delivery of services to you we may prepare a Statement of Advice or a Record of Advice and possibly provide you with one or more Product Disclosure Statements prepared by one or more product issuers. Where we prepare a Statement of Advice we will always provide you with a copy (either electronic or paper version). Where a Record of Advice is prepared (e.g. as part of an ongoing service arrangement with you) we will keep a copy in our files, or on our website. You are entitled to request a copy (at no cost) up to 7 years after the date of issue.

What information should I provide in order to receive personalised advice?

Our advisers will only provide advice after considering your personal objectives, financial situation, strategies and needs. In order for us to offer the most appropriate advice for your situation it is important that you complete a fact finder document which we will give you during or before our first meeting.

If you do not provide accurate information about your situation, the advice you receive may not be appropriate to your needs, objectives and financial situation.

How do I give instructions to my adviser?

As a provider of financial services we may act on instructions we receive from you in writing, by telephone, fax, email or any other form of communication.

How you pay for our services

The fees paid will depend on the type and the extent of services you receive.

Best Interest Advice Pty Limited is paid directly by the trustees of funds we administer for administration, advice and investment management.

Clients who elect to use our full-service advice, administration and investment management service are charged at the rate of $250 per hour or a fixed fee of 0.95% of assets under advice up to a maximum fee of $6,600 (including GST) p.a.

Clients who elect to use our non-advice service are charged an annual administration fee of $1,800 (including GST) and an audit fee of $440 (including GST).

In addition to the above, clients that elect to use our non-advice service may also be charged fees for additional services such as pension establishment. For a summary of all the fees associated with our non-advice self-managed super fund administration services please refer to the Fee Schedule that is attached to this document.

Brokerage Fee

An additional brokerage fee of $5 or 0.01% of the trade amount will be charged when we buy or sell listed securities on your behalf.

Investments in Financial Products

If you invest in a financial product recommended by us, we may receive a payment and/or commissions from the financial product issuers(s). These payments may be paid in the following manner:

  • 
We may receive an upfront and/or ongoing commission payment from a life insurance company for recommending their products. The initial commissions that we receive from life insurance companies on insurance products range between 0% and 115% (including GST). Renewal commissions charged by life insurance companies on insurance products range between 0% and 33% (including GST) pa.
  • 
Issuers of fixed interest securities may pay our office an initial commission for recommending their products. The initial commission we receive for recommending a fixed interest security may range between 0.25% and 1% of the total investment amount recommended for the security.

Prior to our office providing you with personal advice we will disclose all information regarding fees, commission and any other benefit payments made to us by the financial product issuer.

What do I receive for the service fee?

Clients who elect to use our full advice service are entitled to the following services each year:

  • 10 hours of advice on existing investments and strategies
  • Quarterly portfolio valuation & economic updates
  • All taxation and audit work for your self-managed super fund (if applicable)
  • On-line access to your investment portfolio under advice
  • An annual face-to-face Planning & Strategy Review Meeting
  • 
Regular invitations to our investment briefings and educational seminars 
as they occur

Clients who elect to use our non-advice service are entitled to the following services 
each year:

  • All taxation and audit work for your self-managed super fund
  • On-Line access to view your portfolio and the tax position of your fund
  • Compliance updates including investment strategy and death benefit updates
  • Preparation and lodgement of all Business Activity Statements

How is my adviser paid?

As an employee your adviser receives a salary from Best Interest Advice Pty Limited and may also receive bonuses or rewards. The level of this salary and bonus is dependent upon the profitability of the business and the contribution of the individual representative. This, in turn, is dependent upon the number of clients seen by each representative and the number of self managed super funds they assist.

Referral arrangements

We do not pay referral fees.

Our Business Relationships

Best Interest Advice Pty Limited maintains commercial relationships with a number of product and service providers. The purpose of these relationships is to allow us to provide a comprehensive, highly functional and cost effective self managed superannuation advice and administration service for our clients.

It is not mandatory for trustees of self-managed superannuation funds to utilise the services of these businesses. Ultimately the trustees decide which products and services are used and which providers they will utilise.

Best Interest Advice Pty Limited has commercial relationships with the following businesses:

  • Australian Money Market – Australian Money Market provide a term deposit facility that allows Best Interest Advice Pty Limited clients to establish and manage term deposits with a wide range of financial institutions.
  • Baumgartner Partners – Baumgartner Partners are engaged by our office to complete self-managed super fund audits. In addition to Baumgartner Partners our office uses several accredited SMSF auditors. All superannuation auditors engaged by our office are registered with the Australian Securities and Investments Commission.
  • BGL Corporate Solutions Pty Ltd – we use BGL Corporate Solutions tax software to manage and prepare tax related documents for our self-managed super fund clients.
  • Class Super Pty Ltd – we use Class Super Pty Ltd tax software to manage and prepare tax related documents for our self-managed super fund clients.
  • Cleardocs & Maddocks – Cleardocs provide deed services to Best Interest Advice Pty Limited. This includes establishment deeds, deeds of amendment, lending trust deeds and deed reviews. Law firm Maddocks sign-off all of the Cleardocs legal documents.
  • CommSec Adviser Services – CommSec Adviser Services provide an online broking platform for use by Best Interest Advice Pty Limited clients.
  • Desktop Broker – Desktop Broker provide an online broking platform for use by Best Interest Advice Pty Limited clients.
  • DomaCom – DomaCom provide an internet based market (property exchange) for investing in fractional investments in real property for use by Best Interest Advice Pty Limited clients.
  • ING Direct – ING Direct provide cash management and term deposit accounts for use by Best Interest Advice Pty Limited clients.
  • Macquarie Bank – Macquarie bank provide cash management accounts for use by Best Interest Advice Pty Limited clients.
  • Topdocs – Topdocs provide deed services to Best Interest Advice Pty Limited. This includes establishment deeds, deeds of amendment, lending trust deeds and deed reviews.

Professional indemnity insurance

Best Interest Advice Pty Limited maintains professional indemnity insurance policies on behalf of your adviser. These policies cover the advice, actions and recommendations which your adviser has been authorised to provide to you by Best Interest Advice Pty Limited. These arrangements satisfy the requirements imposed by the Corporations Act.

Complaints

We hope you will be satisfied with our services and encourage you to discuss any concerns you have with your adviser or our client services staff.

Should our staff fail to assist you we have an established procedure to deal with complaints. If you make a complaint we will:

  • acknowledge its receipt
  • assign it to an appropriate person for investigation and resolution
  • respond to you as quickly as we can

If your complaint cannot be resolved immediately we will keep you informed of the progress we make to resolve it. If we are unable to resolve your complaint within 45 days we will advise you in writing.

Should we fail to solve your complaint within the above guidelines or to your standards you may contact the Financial Ombudsman Service who can be contacted at

Financial Ombudsman Service – GPO Box 3, Melbourne Victoria 3001

Phone: 1300 780 808 Fax: (03) 9613 6399

Web: www.fos.gov.au

Privacy Policy

Your privacy is important to Best Interest Advice Pty Limited. We have systems and processes in place to protect your privacy.

For further details of our privacy policy please refer to our web site 
www.selfmanagedsuper.com.au

How can you contact us?

You can contact Self Managed Super Institute in the following ways:

Web: www.selfmanagedsuper.com.au

Phone: 1300 664 118

Email: info@selfmanagedsuper.com.au

Fax: (02) 9870 7556

Postal Address: PO Box 115 North Ryde BC NSW 1670

Business Address: Level 4, 32 Delhi Road, North Ryde NSW 2113