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Financial Service Guide

This Financial Services Guide (‘FSG’) is an important document you should read, understand and retain for your records. It is provided to help you make an informed decision about the services we offer and whether they are appropriate for you. This FSG explains our general and personal advice and services, how we are remunerated, any relationships or benefits that could influence our advice and how to access our complaint arrangements and privacy policy.

About us

Retirement Essentials Pty Ltd (‘Retirement Essentials’) is a Corporate Authorised Representative (‘CAR’) of SuperEd Pty Ltd, the holder of an Australian Financial Service Licence (‘AFSL’).  Retirement Essentials is a privately owned advisory firm and a wholly owned subsidiary of SuperEd.

 

Retirement Essentials provides an invaluable service to retirees and pre-retirees through proactive, cost effective, support services to empower and guide them successfully preparing for retirement and managing their retirement savings and financial resources throughout retirement.

 

Retirement Essentials can provide you information and general advice through education on our website and webinars, while assisting you to understand and make an application for senior Australians Centrelink entitlements and concessions.  

Our details are:

Company:                     Retirement Essentials Pty Ltd               SuperEd Pty Ltd (‘SuperEd’)

                                        ABN 35 615 383 232                                      ABN 88 118 480 907

                                        CAR no 001260855                                          AFSL no 468859

Registered Offices:     Level 8, 100 Walker Street, NORTH SYDNEY, NSW, 2060

Telephone:       1300 527 727 (02) 8282 2982

 

Email:                  hello@retirementessentials.com.au contact@supered.com.au

Website:             www.retirementsessentials.com.au www.supered.com.au

Postal: PO Box 527, NORTH SYDNEY, NSW 2059

 

 

 

About SuperEd services

SuperEd is authorised to provide both general and personal financial advice on, and assist you to arrange, superannuation, managed investment schemes, including investor directed portfolio services, deposit and payment products, securities, government debentures, stocks or bonds, annuities and life risk and investment insurance products, like annuities.  SuperEd generally provides these services only digitally to Super Fund members and Financial Institution customers.  Where we believe you may benefit from the other services that SuperEd provides separately, we will make you aware of these services and the benefits and provide you access to SuperEd’s own Financial Services Guide. 

 

SuperEd is responsible for both the general and personal advisory services provided to you by Retirement Essentials as well as authorising the content and distribution of this FSG.

About Retirement Essentials services

Factual Information

Retirement Essentials may provide you information that is purely factual and is not tailored to your individual circumstances.  This is generally provided to you in information articles on the website or via email.  Examples of factual information include notification of Centrelink entitlement rate changes or notification of updates following budget night.

 

General Advice

Retirement Essentials may also provide general advice, which may give you only general information about a specific financial product or service or is tailored to a specific group of people, such as retirees. General advice can be useful as it can help you learn more about these products or services and assist you in personally assessing whether a product or service may be right for you. 

 

However, general advice should not be a substitute for seeking and/or receiving personal advice from a licensed financial adviser who can provide personal advice and in your best interests.  General advice does not take into account your specific financial needs, circumstances or objectives. Therefore, it is important that you personally assess whether any action you take as a result of general advice is appropriate given your own financial situation and read and understand any relevant Product Disclosure Statement (‘PDS’) before any decision regarding a financial product.  This is generally provided to you in our conversations on the phone with you, with our Retirement Essential Consultants, our tailored education information on our website and in webinars.

 

Centrelink Entitlement Services

Retirement Essentials provides Senior Australians in or those approaching retirement with support, guidance and assistance with applying for relevant Centrelink entitlements, such as the Age Pension and the Seniors Health Care Card.  These services assist you to apply for your eligible Centrelink benefits through our digital technology application tool and with the support of the Retirement Essentials customer service team.  The service will allow you to easily generate the Centrelink paperwork required to lodge your application. We will then act as your Centrelink Nominee with your permission to ensure the efficient processing of the application. This service provides you the support you need to make claiming your entitlements easier.  It also provides you access to tools, information and regular articles on the Centrelink entitlement changes including useful retirement tips and more.

 

Centrelink Protection Service (called “Keeping the Age Pension Service”)

Retirement Essentials provides retirees the option to subscribe to an annual service aimed at protecting their centrelink eligibility and benefits. Retirement Essential’s “Keeping the Age Pension Service”:

 

  • Keeps you informed of key changes explaining any legislation and eligibility changes and your options, allowing you to keep and maximise your pension and associated benefit entitlements. 
  • Provides personal support and assistance by acting as your Centrelink Nominee. This can save you considerable time and stress of not having to directly deal with Centrelink each time you are required to notify changes.

 

One Off Centrelink Entitlements Support

Retirement Essentials is here for you, when you need us.  If you would like one off assistance and help in understanding your Centrelink entitlements eligibility after your circumstances change, you can speak with our Retirement Essentials call centre staff.  If changes are required, we can then act as your Centrelink Nominee to advise Centrelink On your behalf.

 

Personal Advice

Personal advice is provided when we consider one or more of your personal circumstances and specifically offer to provide personal advice tailored to your circumstances about a product or service in a Statement of Advice (‘SoA’).  Personal advice may be limited to a particular issue that you have or may encompass a number of issues. The type of advice provided, along with any limitations will be agreed and confirmed up front with you. 

What limitations are there on the information, general and personal advice we provide?

Our advice and services are tailored to super fund members and retirement planning. There are a number of other areas you may require advice on which may be outside of the services we offer. We will make the scope of any advice or information we provide you very clear as well as highlighting any implications. We are unable to assist you or advise on the following specialist areas: 

  • general insurance
  • derivatives or foreign exchange
  • real estate and direct property advice
  • taxation services, such as completion of tax returns
  • accounting and audit services
  • estate planning professionals such as a solicitor
  • legal services
  • administration and compliance of Self-Managed Superannuation Funds and 
  • credit product advice such as mortgage or finance broking

Any products we recommend are limited to the products we have researched.

We will make you aware upfront of the scope of any general and personal advice or services along with any risks or considerations you should be aware of when agreeing to engage our services. Even though we assist you with Centrelink, any matters that may impact your taxation, social security and legal situation should be discussed with your tax adviser, solicitor and/or the relevant Government Department.

What documents will I receive? 

Consistent with our terms and conditions and where you use our Centrelink application services, you will receive fully completed Centrelink  forms ready for lodgement with Centrelink.

 

We act as your agent when we assist you to access your Centrelink entitlements, so these can be accessed as efficiently as possible. 

 

When we give you general advice, we do not provide you any formal documentation.

Where we provide you personal advice services, we will provide you the following documentation from our website.

Statements of Advice (‘SoA’)

If we provide you with advice about your personal circumstances, we will confirm it in SoA. The SoA sets out our personal advice to you, including the scope of our advice you agreed to, the basis on which the advice is provided, your current personal and financial position, needs and objectives, the benefits of our advice and the risks associated with implementing our advice, and information on fees, remuneration and associations relevant to the provision of your of advice.  

Product Disclosure Statements (‘PDS’) 

If we recommend that you acquire a financial product, we will also provide you with a PDS. The PDS will provide you with detailed information about the product we have recommended you acquire, including features, benefits, fees and associated risks, and contains important information you should read and understand in order to help you decide whether or not to buy that product.

How can you connect with us? 

You can connect with us via our website (www.retirementessentials.com.au), by phone on 1300 527 727 during business hours (9am-6pm Monday to Friday AEST) and or emailing hello@retirementessentials.com.au.

 

It is important that you provide us with complete and accurate information about your circumstances and you take the time to check and understand the basis of our advice, such as any key assumptions we have used in formulating your advice before accepting it. If you don’t, there is a risk our advice may not be appropriate for your needs.

How are we paid? 

General Advice Services

We charge simple, transparent fixed fees. We do not charge you based on a percentage of your assets.

 

Our current standard fee schedule as at March 2020

 

Fee*GST inclusive

 

Centrelink Age Pension Application Fee

$396

 

Centrelink Seniors Health Card Application Fee

$396

 

Centrelink Protection  Service

$198 per annum 

or

$154 ($44 discount for the first year, when also joining the  Age Pension application service,

One Off Centrelink Entitlements Support Requests

$198 per request

Live Webinar Attendance Fee  (Technical &/or Education Sessions) 

$55 per webinar (45-60 mins)

 

We are committed to ensuring we clearly inform you of our fees before you agree to engage our services.

 

Personal Advice Services

Depending on the services you require, the costs of our services will either be quoted based on a flat dollar cost, a percentage based fee or a combination of both.

Both our flat dollar fees and asset based percentage fees will be GST inclusive and are determined based on the time and complexity involved in providing your personal service or advice. 

For example a flat dollar fee might be $110, while an asset based fee will be determined based on  a percentage of the funds invested.  On investment of $1,000 a fee of 0.11% will be $110. 

Where an upfront fee is payable directly by you as a super fund member or client, this will be fully disclosed along with the basis for the amount before you agree to use any of our services. 

When you are provided with personal advice on specific financial products, we will also disclose certain details of remuneration or other benefits received by SuperEd or another associated person as a result of that advice in your personal SoA.

Who do we pay?  

All fees you pay are paid directly to Retirement Essentials Pty Ltd.  Retirement Essential pays SuperEd license and service fees for its AFSL, technology,contract and employee services required for the provision of Retirement Essentials services to you.

 

Employees

Representatives, employees and directors of SuperEd may be remunerated by a combination of salary, equity and incentives based on quality of advice and services indicators and business growth of SuperEd.  We also do not receive commission or other benefits in connection with the advice we provide you.

Referrers

If you were referred to us, we do not  pay a referral fee to the organisation who referred you to us. Members who join us via organisations with whom we have alliance partnerships or referral arrangements with may be eligible for discounted fees and services.

Relationships, associations and other benefits may we receive?

SuperEd or its representatives are unlikely to receive any benefits, however will disclose any additional benefits received from product providers. These benefits may include education, training, meals and events provided at the cost of the product providers. These are not of a material nature and do not influence our advice to you. Any Payments or benefits received where the value of the benefit exceeds $100 will be disclosed in a register. A copy of the register is available to you upon request.

Retirement Essentials Pty Ltd is a fully owned subsidiary of SuperEd who provides factual information, education, general and personal advice through their own online platform aimed at helping  superannuation (‘super’) fund members, pre -retirees and retirees plan for their retirement and achieve financial wellbeing in retirement. 

SuperEd may benefit through this association, via increased business growth and profits, however will only ever refer you to use the services of SuperEd where you are likely to benefit from their specialist services. 

SuperEd does not have any other associations or relationships, other than those already disclosed, that might reasonably be expected to be capable of influencing the advice we provide to you and our clients.

Our professional indemnity insurance

SuperEd maintains a group policy which includes appropriate Professional Indemnity Insurance cover for SuperEd and its representatives as required by the Corporations Act 2001. This cover is designed to offer some insured protection should any work carried out result in a claim against SuperEd or one of its representatives for work carried out by past and or present representatives.

What do you do if you have a complaint?

If you wish to complain about our services, you can contact our Complaints Officer by emailing us at compliance@supered.com.au or calling us on 1300 527 727. We will acknowledge receipt of your complaint within 48 hours, and attempt to resolve it within 45 days.

If you are not satisfied with the response you receive or your complaint cannot be resolved within the 45 day business days, you have the right to contact the Australian Financial Complaints Authority (AFCA). AFCA provides a fair and independent ASIC approved external dispute resolution body and provides fair and independent financial services complaint resolution that is free to consumers.  Their contact details are as follows:

 

Email: info@afca.org.au

Website: www.afca.org.au

In Writing: GPO Box 3

Melbourne VIC 3001

 

Phone: 1800 931 678 (Free call)

 

You may also contact the Australian Securities and Investments Commission (ASIC) by phoning +61 3 5177 3988 or 1300 300 630 to make a complaint and obtain information about your rights.  

What personal information do we collect and disclose?

At Retirement Essentials we take your privacy very seriously. We collect your personal information, and information relating to your partner, to enable us to provide our services to you, including assisting you to apply for and keep your Centrelink related entitlements, We may ask you to consent to the collection of sensitive information, such as your race and ethnicity, in order to complete government applications. Generally, we will collect your information in application forms and webforms relating to our services. We provide your information to the government agencies and the financial product issuers with whom you choose to deal (and their representatives). If you don’t provide us with full information, we can’t properly advise or assist you with your financial services needs, and we may not be able to fully complete any government application forms on your behalf which may put you at risk of inappropriate payment and repayment or refusal.

 

We do not trade, rent or sell your information. We also do not disclose your information to overseas recipients. 

How do we protect your privacy?

We and our technology service providers ensure that any cloud hosted data services we use to maintain our members’ data within Australian based data centres. Our Customer Contact Centre is based in Australia. 

 

For more information about how to access the information we hold about you, how to have it corrected and how to complain if you think we have breached the privacy law, obtain a copy of our Privacy Policy here, or contact us using our contact details on the front page of this guide.

We will update our Privacy Policy from time to time.

Where you have provided us information about another individual, you must make them aware of that fact and the contents of this privacy statement. 

We may also use your information to tell you about products or services we think may interest you.

 

Date of Preparation: 31 July 2020