Matrix Planning Solutions Financial Services Guide FSG November the benefits by guy24


									    Matrix Planning Solutions
Financial Services Guide (FSG)
             November 2008
the benefits of sound advice

    A Guide To Our Relationship With You                        3

    About Us                                                    4

    Financial Services Guide – Remuneration Schedule            6

    Other Benefits                                              8

    Complaints And Other Information                           10

    Acknowledgement of Receipt of The Financial
    Services Guide (FSG) And Authority To Provide
    Financial Services                                         11

2   Matrix Planning Solutions Financial Services Guide (FSG)
A Guide To Our Relationship With You

The financial services referred to in this guide are offered by an Authorised Representative of Matrix
Planning Solutions Limited (Matrix).

Matrix Planning Solutions Limited is responsible for the financial services provided including the
distribution of this Financial Services Guide (FSG).

This document contains important information regarding:
•	   The services offered to you
•	   How Matrix Authorised Representatives are remunerated
•	   Any potential conflicts of interest we may have
•	   Our internal and external dispute resolution procedures and how to access them

When we provide you with financial advice, a ‘Statement of Advice’ (SOA) will be prepared for you.
This statement will take into account your current financial situation and future needs.

The SOA will also provide information regarding:
•	 Our fees and commissions, as well as the way they are determined
•	 Any associations we have with financial product issuers or other parties that may influence the advice
   we provide you

If we recommend a particular financial product, we will provide you with information relating to that
product in the form of a Product Disclosure Statement (PDS). Product Disclosure Statements are
intended to help you make informed decisions regarding the product recommended.

If further advice is provided, a Statement of Additional Advice (SOAA) or Record of the Advice (ROA)
will be prepared by your adviser. You may request a copy of the ROA from your adviser if a copy was not
initially provided to you.

About Us

Who is Matrix?                                               Security
To provide financial advice in Australia you must            Each Matrix adviser must meet stringent
be authorised through a licensee. Your adviser               education and professional development
is authorised through Matrix. Matrix Planning                requirements in order to stay at the top of their
Solutions Limited (Matrix) is an Australian                  profession. So when you choose a Matrix adviser,
Financial Services Licensee (AFSL) and Life                  you have the security of knowing that you’re
Insurance Broker, AFSL No. 238256.                           dealing with the best.

Matrix is also a Principal Member of the Financial
Planning Association of Australia (FPA). As a                Sound Advice
member of the FPA, our advisers are committed
                                                             Your Matrix adviser has excellent support in terms
to meeting the FPA professional conduct
                                                             of product research, software and technical advice.
                                                             Every Matrix adviser has access to these expert
Matrix Planning Solutions Limited address is                 resources allowing them to either specialise or to
Level 3, 31 Market Street, Sydney, NSW 2000.                 offer the total spectrum of financial advice, from
                                                             wealth creation and risk protection to retirement
In today’s dynamic and complex financial                     Strength
finances is critical. To achieve maximum value, that         Matrix currently has over $2.3 Billion in funds
advice should come from someone who offers                   and in excess of $39 Million of annual insurance
client-focused solutions and a high degree of                premiums under advice.
expertise. That’s why more than 70 of Australia’s
leading financial advisers came together to create           “We look forward to providing
                                                             the advice you need to grow and
                                                             protect your wealth”
Adhering to strict standards of business morality
and ethics, Matrix members offer objective,
needs-based investment advice. Once your
specific needs are identified, an integrated plan is
developed with only one objective in mind – to
achieve superior results for you.

4      Matrix Planning Solutions Financial Services Guide (FSG)
Matrix is authorised to provide                        What information do you maintain
advice in the following types of                       in my file and can I examine my file?
Financial Product/s?
                                                       We maintain a record of your personal profile
•	 Provide general advice and personal advice          including details of your objectives, financial
•	 Arrange to deal in financial products by            situation and needs. We also maintain records of
   applying for, acquiring, varying or disposing of    any recommendations presented to you.
   the following financial products:
                                                       We are committed to implementing and
   » Managed investments including investor
     directed portfolio services                       promoting a privacy policy, which will ensure the
                                                       privacy and security of your personal information.
   » Superannuation
   » Retirement savings accounts (RSA)                 If you wish to examine your file please ask us.
   » Debentures, stocks or bonds issued or             We will make arrangements for you to do so.
     proposed by governments
   » Basic and other deposit products
   » Securities
                                                       How can I give you instructions
   » Life products including investment and risk
                                                       about my Financial Product/s?
                                                       You may tell us how you would like to give us
What information should I provide                      instructions. For example by telephone, fax or
to ensure I receive appropriate                        other means such as e-mail.
personalised advice?
You will be requested to provide us with your
personal objectives, details of your current
financial situation and all relevant information; so
that we may offer you appropriate advice. This
will be recorded in a Financial Needs Analysis
(FNA) booklet.

You have the right not to provide us with the
above information. However, if you do not, the
advice you receive may not be appropriate to
your needs, objectives and financial situation.

You should carefully read the information and
warnings contained in the SOA or other advice
documents before making any decision relating to
a financial product or advice.

Financial Services Guide – Remuneration Schedule

Matrix and your adviser will receive remuneration in return for providing financial planning advice and
arranging to acquire products. Generally this remuneration may be paid in the form of commission on
products after you accept our recommendations or directly by you on a fee for service basis.

Specific details of any remuneration to be paid for these financial services, as well as how and when it is
paid, will be included in the SOA provided to you. A general explanation of remuneration variations is set
out in the schedule shown below.

The following fees and commissions may apply for advice and / or arranging to
acquire financial products:
    Commission paid to Matrix* by product providers

    Initial commission for placement of            Generally between 0% and 5% of the amount invested. †
    single investments or ongoing regular
    contributions.                                 For some single investment products a commission of up to
                                                   10% may be payable where there is no ongoing commission. †

    Ongoing service commission based               Between 0% and 1.3% per annum (excluding GST). †
    on the account balance.

    Insurance new premiums.                        Between 0% and 130% of the first years premium. †

    Insurance renewal premiums.                    Between 0% and 35% per annum of the renewal premium. †

     Commission paid to cover the cost of advice or arranging products may be rebated if agreed with your adviser.


    Fees for financial services paid by the client to Matrix* together with ongoing
    commission paid by the product providers

    Fees for initial advice and other              Payment of initial upfront fee for services at a level agreed
    services, together with ongoing                by your Adviser and approved by Matrix. This may be taken
    servicing commission.                          through the product provider or via cheque.

                                                   The Adviser may also receive ongoing commission of between
                                                   0% and 1.3% per annum of funds under advice (excluding
                                                   GST) to help cover the cost of servicing.

                                                   Other fee rates may be agreed for ongoing specialist services
                                                   such as monitoring your financial position, budgeting and debt
                                                   management advice.

6        Matrix Planning Solutions Financial Services Guide (FSG)
 Fees for advice only paid by the client to Matrix*

 These fees will be shown separately             Fees of this nature only relate to advice and no other financial
 from any other product or                       service.
 administration costs in your SOA.
                                                 Advice may be provided on an upfront basis or an upfront
 Examples include:                               and ongoing basis with fees charged accordingly. No
                                                 commission is paid relating to the advice (or if a commission is
 •	 Set fees paid upfront in one lump            applied it is fully rebated to the client).
    sum based on an hourly rate
 •	 A set fee paid upfront along with            Fees and the method of payment must be agreed before
    regular ongoing fees                         advice is provided. They may also be levied for regular
                                                 ongoing advice (when agreed). Ongoing fees for advice may
 •	 A set fee paid by instalments
                                                 be varied or terminated in accordance with your agreement
 •	 A fee deducted from a product                with the adviser.
    and paid to Matrix
 •	 A fee charged by regular direct              Note: some advice and reports are complex and may take many
    debit                                        hours to research and prepare.

* The commission and fees shown represent the amount payable to Matrix when you accept advice or other services. Matrix
   retains 10% and pays 90% to your adviser or a Corporate Authorised Representative, with which your adviser is associated.
   Where payments are made to a Corporate Authorised Representative, your adviser will receive one or more of the following:
   salary, fringe benefits, dividends or other financial benefits.

For information concerning the relationship between Matrix, your adviser and the Corporate Authorised
Representative with which your adviser is associated, please refer to the enclosed Financial Services Guide
– ‘Adviser Details’, and / or your SOA (should you receive advice).

Other Benefits

Any remuneration paid to Matrix or a Matrix adviser by a product provider, that relates to the acceptance
of an individual financial product recommendation, will be disclosed in the SOA provided to you.

However, as a company Matrix may enter into other commercial arrangements with some product
providers which are generally based on the total volume of business. These arrangements may generate
additional income payments to the company as a whole, and not to your adviser. The amount paid varies
by product and product provider but is generally no greater than 0.6% of funds under advice or 10% of
new insurance premiums. Refer to ‘Alternative Remuneration’ section below for further information and
details on how these payments are used.

Alternative Remuneration
Matrix Planning Solutions Limited Principal Member Firms and advisers do not accept significant alternative
remuneration from product providers, such as:

•	   Travel and accommodation to overseas conferences based on business volume
•	   Office facilities, such as computer hardware or commercial software support
•	   Cash benefits
•	   Other benefits in excess of $300

However, from time to time Matrix Principal Firms and advisers may accept educational or hospitality
benefits and other professional development support not related to business volumes. In the event
any benefit received has a value in excess of prescribed thresholds, the benefit will be listed on a public
register. Any benefit that is material to your consideration of our recommendations, will be disclosed in
your SOA.

Matrix may receive financial sponsorship, marketing, training, conference subsidies or other commercial
payments from a range of product providers. All these benefits are generally applied to provide ongoing
professional development of Matrix advisers.

Where Matrix receives such payments, they will be included on the Matrix Alternative Remuneration
register that is available for public examination.

No payments made to Matrix under these ‘Other Benefits’ arrangements represent an additional cost to
you. However, if you would like to understand the nature and extent of this income received, you may
access relevant details on the Matrix Planning Solution Limited website:

8       Matrix Planning Solutions Financial Services Guide (FSG)
Potential for Conflicts of Interest
Matrix provides distribution and other services to product providers; Oasis Asset Management Limited
and Next Financial Limited. In consideration for these services, these product providers may pay
Matrix a non-rebateable platform or commission payment from the administration fees collected on
some of their products. Matrix may in turn, pass on up to 60% of its share of these administration fees
to the Authorised Representative for their services. Any share paid will be shown under ‘Additional
Remuneration’ in your SOA. These are not additional costs to you.

Associations and Interests
Company management, Authorised Representative members and their staff own 100% of Matrix.
Accredited Authorised Representatives are free to recommend all products on Matrix’s extensive
Approved Product List and there is no requirement for an adviser to place business with any particular
product issuer.

Authorised Representatives may also be shareholders of Matrix and Oasis, the administrator of the Matrix
Superannuation Master Trust and other Matrix branded products. Both are unlisted public companies,
which may pay dividends to Authorised Representatives and associated companies.

Disclosure of interest details will be included in your SOA.

Will anyone be paid for referring you to Matrix?
If someone has referred you to us, we may pay a fee or commission in relation to that referral. The SOA
you receive will indicate the amount they will receive.

Complaints And Other Information

What should I do if I have a complaint?
1. Contact your adviser about your complaint.

2. If your complaint is not satisfactorily resolved within 20 days, please contact our Compliance Manager
   on (02) 8022 3500 or put your complaint in writing and post to: Matrix Planning Solutions Limited,
   PO Box Q1493, QVB, NSW, 1230. We will endeavour to resolve your complaint swiftly and fairly.

3. If the complaint cannot be resolved to your satisfaction or we have not responded within 45 days, you
   have the right to refer the matter to the Financial Ombudsman Service (FOS). Matrix is required to be
   a member of an external dispute resolution body as a condition of our license.

4. FOS can be contacted on 1300 78 08 08 or in writing to:
   Financial Ombudsman Service, GPO Box 3, Melbourne VIC 3001 or by email:

Professional Indemnity Insurance
Matrix currently has Professional Indemnity Insurance in line with legislative requirements. This includes
coverage for claims in relation to conduct of representatives who no longer are authorised by Matrix
(but who were at the time of the relevant conduct). If you would like further information please contact

Matrix Privacy Policy
To view a current version of Matrix’s Privacy Policy, please refer to our website:
under the ‘About Us’ section.

10    Matrix Planning Solutions Financial Services Guide (FSG)
Acknowledgement of Receipt of The Financial Services Guide
(FSG) And Authority To Provide Financial Services

I/ We

                                                                                                           (Insert name)

acknowledge receipt of an FSG from Matrix Planning Solutions’ Authorised Representative:

                                                                                                           (Insert name)

I/ We understand the nature of the services provided by Matrix and the fees and commission that may be applicable.

I/ We also authorise Matrix and the above mentioned Authorised Representative to provide the following services as

        Prepare a Financial Plan (SOA), Plan preparation fee $_____________________ (when applicable)

        Review my existing financial arrangements, Review preparation fee $______________________ (when applicable)

        Arrange financial products

        As per attached Letter of Engagement / Ongoing Service Agreement

Signature 1:                                                Signature 2:

Date:                                                       Date:

                                               Date FSG given to client/s: _________/___________/_______________

Matrix Planning Solutions Limited, ABN 45 087 470 200, is a holder of an Australian Financial Services Licence No. 238256
and is responsible for the services and advice given to you by your adviser.

St. Martins Tower
Level 3, 31 Market Street, Sydney NSW 2000
Phone: 02 8022 3500
Fax: 02 9993 0390
Website:                                                              Version 6 November 2008
Matrix Planning Solutions Limited, ABN 45 087 470 200, is a holder of an Australian
Financial Services Licence No. 238256 and is responsible for the services and advice
                             given to you by your adviser.
                                   St. Martins Tower
                     Level 3, 31 Market Street, Sydney NSW 2000
                                 Phone: 02 8022 3500
                                   Fax: 02 9993 0390
                               Version 6 November 2008

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