FINANCIAL SERVICES GUIDE

This Financial Services Guide (FSG) is an important document, which we are required to give you under the requirements of our Australian Financial Services Licence. It provides you with information about bdhSterling WA to help you decide whether to use the financial services we provide. This FSG explains the services we can offer to you and the types of products we offer. It also explains how we (and other related persons) are remunerated for these services, and includes details of our internal and external complaints handling procedures and how you can access them. bdhSterling authorises the distribution of this FSG.

If you choose to use our services, you may also receive from us a Product Disclosure Statement (PDS), Statement of Advice (SOA), and/or Record of Advice (ROA).

To invest in any of our recommended financial products, you must complete the application form attached to the relevant PDS. The PDS contains information about the product, and will assist you in making an informed decision about that product.

If we provide you with personal financial product advice rather than general financial product advice, we will initially provide you with an SOA. Personal financial product advice is advice that considers one or more of your objectives, financial situation and needs. The SOA will contain the advice, the basis on which it is given, and information about fees, commissions and any associations, which may have influenced the advice.

On an ongoing basis, an ROA may 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.

WHO ARE WE?

bdhSterling WA Pty Ltd (ABN 15 601 323 577) trading bdhSterling is a Corporate Authorised Representative (No. 465560) of Oakwest Holdings Pty Ltd, (the Licensee) AFSL number 222266.

bdhSterling WA is a specialist, independent provider of Cross Border (financial) Solutions. Our unique ability to integrate an unparalleled range of financial services, with licensed UK and Australian advisers, allows us to meet our clients’ varied needs, both locally and globally.

We are committed to superior service delivery and the highest standards of professional conduct.

WHY ARE WE DIFFERENT?

bdhSterling is a global company with offices in the UK and Australia. We provide an unparalleled range of in-house financial services, such as superannuation risk management strategies, Australian investments and retirement.

WHAT DO WE OFFER?

As a financial planning organisation bdhSterling can offer the following services:

  • Financial planning
  • UK pension transfers
  • Investment strategy
  • Superannuation strategies, including self-managed superannuation funds
  • Life and disability insurance, including investment life insurance
  • Centrelink benefits advice
  • Retirement planning advice
  • Portfolio review services
  • Ongoing advisory services

WHAT ARE OUR AUTHORISATIONS?

bdhSterling is authorised to provide advisory and dealing services in respect to the following classes of products:

  • Basic and non-basic deposit products
  • Government debentures, stocks and bonds
  • Investment life and life risk insurance products
  • Managed investment schemes including IDPS
  • Retirement savings accounts
  • Securities
  • Superannuation
  • UK pension funds

WHO IS YOUR ADVISER?

Refer to the Adviser’s Profile at the bottom of this page.

WHAT WILL WE NOT DO?

We will not provide advice on products that are not on our Approved Products List.

We will not provide advice on classes of financial products other than those detailed above.

WHAT DO WE EXPECT FROM YOU?

We expect that you will provide us with accurate information that we request, so that we have a reasonable basis on which to provide you with advice.

We expect that you will use our advice to enable you to make informed financial decisions.

We expect that, where appropriate, you inform your adviser of any changes that may influence your future objectives.

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 this information. We assure you that this information will be held securely. We cannot provide you with services if you are unwilling to provide this information.

HOW ARE WE PAID FOR THE SERVICES WE PROVIDE?

INITIAL MEETING

An important step to getting appropriate advice is having access to a qualified financial adviser, who will assist you to identify your goals and objectives. To encourage this, a free pre-advice meeting is offered to all potential clients to help identify their goals and objectives and to recommend how they can be achieved. At that meeting, we will outline the scope of the Statement of Advice (SOA) that will be written following the meeting and the cost of that report. At that point you can either leave with only the benefit of the meeting and no cost involved, or engage bdhSterling to produce the SOA for the agreed fee.

When the SOA is produced again, you can choose to engage bdhSterling to implement the recommendations at the cost disclosed in the SOA, or to pay for the SOA and not proceed any further. Should you not progress to the preparation of a SOA, bdhSterling will absorb the costs for this initial meeting.

WHAT ARE THE FEES AND CHARGES?

bdhSterling is paid through a combination of fees for service. All payments are made directly to bdhSterling. All fees and charges are provided in writing as a part of the SOA.

HOW ARE FEES FOR SERVICE CALCULATED?

The fee charged for our service may be:

  • Flat fee
  • Percentage of the amount invested
  • Based on an hourly rate
  • Combination of some or all of the above

Fee for service payment may include:

Preparation of advice: A dollar amount will be charged for providing you with advice and presenting it in a written Statement of Advice (SOA). The cost of the SOA will be provided at the initial meeting.

Establishment fees: These services include the establishment of the appropriate investment vehicle or structure e.g. a self-managed superannuation fund (SMSF). It may also involve the cost of rolling over benefits from one investment environment to another e.g. rolling super benefits. The actual cost will be detailed in the SOA, this will include our costs and an indication of external service provider costs.

Ongoing review/administration services: These fees are for the management of a portfolio of investments for investors, with client online access to their investment portfolio available via the bdhSterling website as well as adequate access to advisers to review the investments, the objectives of the investors, and adjustments to the strategy to achieve the objectives. The administration of SMSFs would also be charged on a fee for service basis. In both cases, the charge would be based on the amount of funds under management, which is used as a measure of the work involved.

Incidental work: Where work is carried out for a client, which does not fall into the normal range of services for which fees have been set, then the work will be carried out at an hourly rate, which is currently $330 per hour.

The SOA produced will include full details of all the fees involved in implementing the recommendations of the report.

Fees are payable in advance and will be fully explained prior to work being undertaken.

Buying or selling shares: bdhSterling will established an account with CommSec Adviser Services, an Australian Stock Exchange registered broker. For clients who utilise the bdhSterling Portfolio Management Service, when buying and/or selling shares, a transaction of 0.15% with a minimum charge of $33.00 per transaction is charged. Off market transfers will incur a cost of $75 per transaction. For clients who do not utilise the bdhSterling Portfolio Management Service, a buying and selling fee of 1.1% per transaction will apply.

Life insurance products: Initial commission is typically between 0% and 115% and is paid by the Life Insurance Company.

WHAT COMMISSIONS, FEES OR OTHER BENEFITS ARE RECEIVED?

bdhSterling calculation of fees is dependent on the level of service appropriate to the needs of the client. It has many levels of service, each providing benefits befitting the clients it is designed to service.
Upfront fees are calculated as dependent on the level of service chosen.

All levels of service, their associated calculations for fees and charges and the ongoing services provided are discussed in the first meeting and subsequently disclosed, prior to implementation of any recommendations, in the SOA.

bdhSterling may from time to time receive a benefit from preferred product providers by way of sponsorship of educational seminars, conferences or training days. Other benefits, such as prizes, awards and hospitality events (e.g. sporting events) may also be received. Details of benefits between $100 and $300 will be maintained on a Register. Benefits over $300 are not allowed to be accepted.
You have a right to request for further information in relation to the remuneration, the range of amounts or rates of remuneration, and soft dollar benefits received by the licensee and/or authorised representative.

DO ANY RELATIONSHIPS EXIST WHICH MIGHT INFLUENCE THE SERVICE OR ADVICE WE PROVIDE?

bdhSterling is not owned by any Fund Manager or Institution and there are no relationships that will influence the advice that you receive from them.

Your adviser may hold an interest in a financial product. Any significant interest/ownership will be recorded in a register of financial product holding and, where appropriate, this holding will be disclosed to you in the SOA or ROA.

WILL YOU GIVE ME ADVICE THAT IS SUITABLE TO MY INVESTMENT NEEDS AND FINANCIAL CIRCUMSTANCES?

Yes. However, to do so we need to find out your individual investment objectives, financial situation and needs before we recommend any investment or risk products to you. You have the right not to divulge this information to us, if you do not wish to do so. In that case, we are required to warn you about the possible consequences of us not having your full personal information. You should read the warnings carefully.

Under the Future of Financial Advice Reforms, the advice provider is obligated to act in your best interest, and this requires the advice provider to collect all required information about your financial situation and needs and objectives, make inquiries into the information provided, and investigate appropriate products and strategies that will meet your needs and objectives. From time to time, where the advice provider cannot recommend any appropriate products or where the advice provider feels your best interest will not be served by him/her, the advice provider has a right to refuse provision of advice or services.

WHAT SHOULD I KNOW ABOUT ANY RISKS OF THE INVESTMENTS OR INVESTMENT STRATEGIES RECOMMENDED TO ME?

We will explain to you any significant risks of investments, insurances and strategies that we recommend to you. If we do not do so, you should ask us for further clarification.

WHAT INFORMATION DO YOU MAINTAIN IN MY FILE AND CAN I EXAMINE MY FILE?

We maintain a record of your personal profile that includes details of your investment objectives, financial situation and needs. We also maintain records of any recommendations made to you. If you wish to examine your file, you should ask us and we will arrange for you to do so.

We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. A copy of our privacy policy will be provided upon your request.

CAN I TELL YOU HOW I WISH TO INSTRUCT YOU TO BUY OR SELL MY INVESTMENT?

Yes. You may specify how you would like to give us instructions. For example, by telephone, fax or other means.

WHAT KIND OF COMPENSATION ARRANGEMENTS ARE IN PLACE AND ARE THESE ARRANGEMENTS COMPLYING?

bdhSterling 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 (as amended). Our Professional Indemnity insurance, subject to its terms and conditions, provides indemnity up to the Sum Insured for bdhSterling and our 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 representative/employee, who has ceased work with bdhSterling for a minimum of 7 years from the date of ceasing the relationship.

WHAT SHOULD I DO IF I HAVE A COMPLAINT?

We are committed to providing quality advice to our clients. This commitment extends to providing accessible complaint resolution mechanisms for our clients. If you have any complaint about the service provided to you, you should take the following steps:

  1. Contact your adviser and tell them about your complaint.
  2. If your complaint is not satisfactorily resolved within 7 days, please contact us on (08) 9474 2655 or put your complaint in writing. We will try and resolve your complaint quickly and fairly.
  3. If we cannot reach a satisfactory resolution, you can raise your concerns with the Financial Ombudsman Service on 1300 780 808. bdhSterling is a member of this complaints resolution service. The Australian Securities & Investments Commission (ASIC) also has a free call Infoline on 1300 300 630, which you may use to make a complaint or obtain information about your rights.

BDHSTERLING PERSONNEL

bdhSterling has highly experienced and licensed financial advisers as well as administrative staff who are qualified to provide financial assistance to clients.

  • Richard Gardiner, Senior Accountant
  • Emma Zhao, Accountant
  • Sandy Xing, Fund Administrator
  • Hayley Maxwell, Senior Paraplanner and Operations Manager

ADVISER’S PROFILE

RUSSELL H HARROWER

r-harrower-fsgRussell is an Associate Director and a member of the Executive Committee for bdhSterling Australia. He is responsible for the day to day management of bdhSterling WA. Also, as a Senior Financial Planner with over 28 years’ experience and a migrant himself (originally from Scotland), he is well placed to provide high level strategic advice to the clients of bdhSterling needing to transfer their UK pensions to Australia and plan for retirement. He enjoys interacting with clients and other advisers within the Group. Russell also enjoys public speaking, including client information evenings, especially around Budget time. He is a representative and responsible manager of the Licensee. Russell is a Certified Financial Planner, a member of the Financial Planning Association of Australia, a member of the Boutique Financial Planning Group, and holds a Diploma in Financial Planning from Deakin University. Outside of work, he enjoys travel, painting on canvas and spending time with his wife, their daughters and grand-children.

JOE KERWIN

j-kerwin-fsgJoe acts as the representative of the Licensee. Joe brings with him over 20 years’ experience in the financial services sector both as a Financial Planner and an Area Director. He holds the Advanced Diploma of Financial Planning both in Australia and the UK, ensuring he can offer the highest quality of advice for clients covering both countries. Joe recently moved from the UK with his wife Linda to be closer to their son and daughter, who both migrated to Perth in the last 5 years. Following his move Joe fully understands the financial complexity of emigrating which allows him to use his experience and knowledge in helping clients in similar situations. Joe enjoys spending time with his family and making the most of the WA weather, Joe follows most sports and is a keen football (soccer) fan.

REBECCA WATSON

r-watson-fsgRebecca acts as the representative of the Licensee. She has over 16 years’ experience in the Financial Services industry. Her knowledge, attentiveness, good listening skills and great empathy are highly appreciated by our clients and admired by the bdhSterling team. Rebecca has completed a Diploma of Financial Planning and is in the process of obtaining an Advanced Diploma of Financial Planning from Kaplan Professional. Rebecca is happily married to her husband Ben and has two lovely daughters. Away from the business, she enjoys spending time with family and friends, cooking, travelling and keeping fit.