This Financial Services Guide (FSG) is an important document.
We ask that you read it carefully to ensure that you understand it
PURPOSE AND CONTENT OF THIS FINANCIAL SERVICES GUIDE
This FSG provides you with the key information about the services Lodge Partners Pty Ltd (Lodge) and its Representatives offer and is designed to assist you in deciding whether to use the services that we provide. It is prepared in accordance with Corporations Act 2001 and relevant Regulations and standards prescribed by the Australian Securities and Investments Commission (ASIC).
Your representative is authorised by Lodge Partners to provide you with some or all of the financial services under its Licence. Details of your Representative are included with this FSG. If you do not have a Representative, please contact Lodge Partners so that we may introduce you to a Representative to assist you with your personal circumstances.
TYPES OF ADVICE
When we provide you with “personal” advice, we will provide a Statement of Advice (SoA). Personal advice can only be provided to you after considering at least one of your Relevant Personal Circumstances. Personal Advice includes Further Advice (FA). We do not provide taxation advice and do not take into account taxation implications. We suggest that you seek independent taxation advice.
Relevant Personal Circumstances
Relevant Personal Circumstances’ means your objectives, financial situation, attitude to risk and needs as would reasonably be considered to be relevant in ascertaining the appropriateness of personal advice.
Information required in preparing appropriate personal advice
In preparing personal advice, your Representative must determine appropriate advice from your relevant personal circumstances as currently known, after making reasonable enquiries in relation to these circumstances and comparing similar products that may be a subject of the advice. Therefore, it is important that if you wish to obtain personal advice that you provide complete and accurate relevant information to your Representative and that you ensure that you inform your Representative of any signficant changes in your relevant personal circumstances. (refer Warning).
Warning where advice is based on incomplete or inaccurate information
If you do not provide Lodge Partners or your Representative of complete and accurate current information about your relevant personal circumstances, the advice provided to you may not be appropriate to your situation. Where your Representative is aware that the information may be incomplete or inaccurate he will warn you of this fact at the time of giving advice.
Further Advice (FA) is personal advice that meets the following criteria. FA can only be given in relation to financial products that are traded on a licensed market such as ASX. Such products include securities, warrants and exchange traded options.
FA can only apply when :
- you inform your Representative that you wish to receive time-critical advice
- such advice is for similar products and services for which you have previously received advice
- where the advice is not signficantly different from previous advice; and
- when you have previously received a Statement of Advice.
When you are provided with Further Advice you will not receive a Statement of Advice.
Information you obtain from our publications and marketing material, our website or newsletters is general advice and you will not be provided with FSG or SoA in these instances. Where you are provided with general advice by your Representative, you will be provided with a FSG as soon as practical after you have been given such advice.
STATEMENT OF ADVICE
Details in Statement of Advice / Statement of Additional Advice
The Statement of Advice (SoA) will include your relevant personal circumstances, the personal advice given and the basis on which the personal advice was prepared. It will also inform you of the name and contact details of your Representative and any relevant information about remuneration or other benefits that Lodge Partners or your Representative may receive and any interests that might reasonably be expected to be or have been capable of influencing Lodge Partners or your Representative in providing such advice.
Timing of providing Statement of Advice
The SoA will be given to you, where possible, when providing personal advice and before provision of any further financial services that may arise from the advice.
However, in time critical cases where you expressly instruct your Representative that you require the advice immediately, a SoA will be provided as soon as practical, but not less than 5 days, after giving the advice.
When you inform us of any signficant changes to your relevant personal circumstances we will forward you with a new Statement of Advice.
When a Statement of Advice is provided for FA
A SoA will be provided to you when we give you personal advice, that is FA, for the first time. We will also give you a SoA when you inform us of significant changes to your relevant personal circumstances or the advice you require significantly changes.
A Record of Advice will be available for FA When FA is given, we will retain a record of the advice. You may request us to provide you with a copy of the Record of Advice within 90 days of receiving the FA. Also, at the time of giving FA, we will inform you about any related interests that may influence our recommendation.
PRODUCT DISCLOSURE STATEMENTS
If we make a recommendation to acquire a particular financial product, (other than securities such as listed shares), or offer to issue, or arrange the issue of a financial product to you, we will also provide you with a Product Disclosure Statement (PDS). The PDS contains information about the particular product including the features, benefits, fees and risks associated with that product to assist you in making an informed decision.
We will explain to you any significant risks of financial products and strategies that we recommend to you. If we do not do so, or you do not understand the information provided, you should ask us to explain those risks fully.
If you request us to open an account for trading in Exchange traded derivatives (warrants and options) we will provide you with a PDS that explains the risks. You will also be required to enter into an Agreement specific to the derivative and also, for options, a Risk Disclosure Statement is required to be signed by you.
INFORMATION ABOUT LODGE PARTNERS AND ITS CAPACITY TO ACT
Lodge Partners is a Participant of ASX Limited which means that it has met specific criteria to be recognised as a “stockbroker”, and is subject to the obligations of ASX Rules.
Lodge Partners is an Australian Financial Securities Licensee and as such is subject to the Corporations Act 2001 and Regulations, ASIC Policy, and relevant Australian Standards.
Lodge Partners provides advice to clients on securities and erivatives that are listed on ASX and has engaged Pershing Securities Australia Pty Ltd ABN 601361849 62 AFSL 338264 to settle these transactions on behalf of its clients.
SERVICES OFFERED BY LODGE PARTNERS
As a stockbroking client of Lodge Partners, we provide you with advisory services for securities, interests in management investment schemes and derivatives (Exchange traded warrants and options) listed through ASX.
We provide general advice and personal advice depending on the manner of your request or the information you have provided to your Representative. Depending on the type of advice, we are required to provide you with specific disclosures, warnings and documentation as indicated in this FSG.
HOW YOU MAY PROVIDE INSTRUCTIONS
You may provide us with instructions by telephone, and confirmed by mail, or email. However Lodge Partners discourages the use of mail and email in relation to providing instructions for sale and purchase of securities and derivatives, as we cannot guarantee that these instructions can be executed in a timely manner.
FEES AND CHARGES FOR OUR SERVICES
Lodge Partners will charge brokerage for each sale or purchase of financial products that it makes on your behalf. This brokerage will be included on the Confirmation that is despatched to you when the transaction is completed.
Lodge Partners may also charge a fee for providing the following services:
- Account opening
- Statement of Advice
- Record of Advice
- Statement of Account
In the case of new issues of securities, the remuneration of Lodge Partners is generally paid by a fee paid by the company issuing the securities based on the number of securities for which you have subscribed. This fee would be disclosed to you at the time of the subscription.
Rates of Brokerage and fees
The rate of brokerage referred to above is a rate agreed by you and your nominated Representative and ranges up to 2.5%, depending on the size of the transactions, frequency of dealing and level of services required.
In the case of new issues of securities for which you subscribe, the fee payable to Lodge Partners by the issuing company or underwriter or lead manager would be determined at the time that the details of the new issue are determined and could be expected to range from 1% to 9% and may also be subject to a management fee.
REMUNERATION OF REPRESENTATIVES
Our Representatives may be remunerated by salary and commissions, or fees, or both. They may be eligible to receive a bonus or other employment benefit which is discretionary and based on the achievement of business objectives.
COMMISSIONS AND BENEFITS FROM OTHER PARTIES
Lodge Partners does not have any arrangements currently for referral business for providing you with financial services; however, if at the time of any transaction with you, we have such an arrangement, you will be informed accordingly.
RELATIONSHIPS AND ASSOCIATIONS WITH OTHER FINANCIAL PRODUCT PROVIDERS
Lodge Partners is an independently owned company, which is not affiliated with any other financial services provider or issuer.
However, Lodge Partners may recommend financial products that are issued and provided by other financial services organisations and Lodge Partners may receive direct remuneration by way of commission. Such rate of commission can vary greatly and therefore you will be informed of any specific commissions when you contract for such products
PAYMENT FOR TRANSACTIONS OF SALES AND PURCHASES OF FINANCIAL PRODUCTS
The date on which payment is due is included on the Confirmation and is generally 3 days for securities and warrants and 1 day for options from the date of the transaction. Brokerage and GST are included in the details on the Confirmation. The terms and conditions are printed on the reverse of the Confirmation.
EXECUTION & SETTLEMENT FOR TRANSACTIONS OF SALES AND PURCHASES OF FINANCIAL PRODUCTS
We have engaged Pershing Securities Australia Pty Ltd ABN 601 361 849 62 AFSL 338264 (Pershing) to execute and settle all transactions we make on behalf of our clients, in securities, warrants, and interests in managed investment schemes through ASX.
Confirmations of your transactions will be despatched by Pershing on our behalf.
As part of this arrangement, Pershing will provide you with Sponsorship and nominee and custody services.
Lodge Partners is committed to providing high standards of client service and to maintaining a reputation of honesty and integrity. If our level of service or quality of products has failed to meet your expectations please contact the Compliance Manager immediately.
Internal complaints resolution
You have the right to have any complaint about the service received from us (or any other aspects of our dealings) investigated and dealt with quickly and effectively in accordance with our complaints resolution procedures.
To assist us in responding appropriately to complaints, you are requested to prepare any complaint in writing, addressed to:
Manager, Group Compliance
Lodge Partners Pty Ltd
Level 6, 90 Collins Street
Melbourne Vic 3000
Telephone 03 9200 7000
You should include as much detail about the circumstances of the complaint as possible, including the name(s) of any of our staff involved. If available, copies of any background documentation should be provided to us along with the complaint.
Following receipt of your complaint, the Manager, Group Compliance will acknowledge receipt of it in writing and provide an estimate of the time it will take to investigate the circumstances.
The Manager, Group Compliance will fully investigate the complaint and follow up if further information is required from you. The Compliance Manager will then prepare a detailed written response to you after consideration of all relevant documents and following interviews with the involved employees and their manager(s), if required. The written response will be mailed or delivered to you.
External complaints resolution
As we are a member of the Financial Ombudsman Service (FOS), we will inform you if you continue to have a complaint with us that you have the option to pursue your complaint with FOS. Contact details for FOS are:
If you remain dissatisfied with our response to a complaint, you may also pursue the matter with the ASX Limited.
The Australian Securities and Investments Commission also has an Info line on 1300 300 630 which you may use to make a complaint and obtain information about investor rights.
Lodge Partners maintains Professional Indemnity Insurance cover that satisfies the requirements of Corporations Act s.912B and covers claims after an AFS Licence holder becomes insolvent or ceases business.
These Insurance arrangements are maintained to compensate Retail Clients for losses they may suffer as a result of a breach by Lodge Partners or its Representatives of their obligations under their AFS Licence. Such losses would include those caused by negligent, fraudulent or dishonest conduct.
HOW TO CONTACT LODGE PARTNERS AND YOUR REPRESENTATIVE
If you have any questions in relation to this FSG or the products and services Lodge Partners offers, you can contact Lodge Partners or your representative via the contacts on the cover page.
Further information is available at www.lodgepartners.com.au.
Glossary of terms
ASIC Australian Securities & Investments Commission
ASX ASX Limited
Clearer Pershing Financial Services Australia Pty Ltd, which is a Participant of ASX Limited that Lodge Partners, has engaged to settle transactions executed on ASX
FOS Financial Industry Complaints Service
FA Further Advice
FSG Financial Services Guide
Lodge Partners, we, us, our – Lodge Partners Pty Ltd
PDS Product Disclosure Statement
RPC Relevant Personal Circumstances
SoA Statement of Advice