Financial Services Guide

We are required by law to give you a Financial Services Guide (FSG), that helps educate, protect and assist you to make an informed decision about the financial services we offer.

Oreana Financial Services – Financial Services Guide (“FSG”)

The financial services we refer to in this FSG are offered by your advisor as an authorised representative of Oreana Financial Services Pty Ltd ABN 91 607 515 122 AFSL 482234 (“Oreana”; “we”; “us”; “our”).

Purpose of a Financial Services Guide (FSG)

This FSG is an important document. It is designed to assist you in deciding whether to use any of the financial services offered by us. This FSG is divided into two parts and both parts must be read together. Each part outlines the following information.

Part A – General Details

Provides informations about:

  • Oreana, their relationship with your Advisor and other entities.
  • Other documents you may receive.
  • Financial services and products we provide.
  • Collecting your personal information and providing instructions.
  • What you can do if you are not satisfied with our services.

Part B – Representative Profile

Provides informations about:

  • Who your Advisor is and how they can be contacted.
  • Financial services and products your Advisor is authorised to provide.
  • Fees or other costs your Advisor may charge.
  • How your Advisor and any other relevant parties are remunerated.

Please read and understand the FSG in its entirety. If you ever have any questions, please contact us using the details set out in this FSG.

The following section outlines how Oreana, the Licensee receives certain fees and commissions from product providers and manages other relationships in the group. These relationships restrict Oreana from being referred to as independent, impartial, or unbiased. However, the application of these points will vary across our network as each practice operates in a different but transparent way. Please refer to your Advisor Representative Profile – Part B for more information.

Not Independent

  • If you implement our Insurance advice recommendations, we may receive a commission payments directly from the Insurer.
  • For some listed security transactions, such as hybrid securities, we may receive remuneration and benefits (stamping fees) from the product issuer.
  • Oreana Financial Services is a part of the Oreana Group of companies, including Oreana Portfolio Advisory Service (PAS). We may utilise the investment services of Oreana PAS, which may include Managed Accounts.

Although we’re required to act in your best interests, receiving payments from product issuers means that we aren’t independent.

Who is responsible for the financial services we provide?

Oreana Financial Services Pty Ltd ABN 91 607 515 122 is responsible for the financial services provided and authorises the distribution of this FSG.

We are the holder of an Australian Financial Services Licence (AFSL), number 482234. You can contact us at info@oreanafinancial.com or Level 7, 484 St Kilda Road, Melbourne VIC 3004.

Our Associations and Relationships

Oreana Financial Services Pty Ltd is an Australian firm and part of the Oreana Group of companies (“Oreana Group”). The Oreana Group comprises of divisions including Oreana Private Wealth and Oreana Portfolio Advisory Service, a service your adviser may recommend. Oreana may receive a fee associated with this service if recommended. We also advise on and arrange the issue of financial products from a range of financial product issuers outside of the Group.

Oreana Financial Services Pty Ltd also offer financial planning advice through a network of high quality, self-employed practices which have specialist expertise in a range of areas.

Further details for these practices are outlined in the practices’ Representative Profiles which accompany this FSG.

How will we advise you?

When you meet with us for financial advice, we will assess your current financial position, as well as your future goals and objectives and provide advice and recommendations which will consider your personal circumstances.

The advice will come in the form of a written Statement of Advice (SoA), and will include:

  • Our understanding of your personal circumstances and financial objectives;
  • The strategies and actions we recommend and the basis for our recommendations;
  • The financial services and /or products being recommended, and the reasons why;
  • The fees and /or commissions that are paid to us and our representatives; and
  • Disclosures of any associations we have with any financial product issuers or other parties which may have influenced our advice.

Subsequently, any time we give you further financial advice, we will give you (and keep on file) another written record of that advice. You can request a copy any time by contacting your advisor.

Other documents you will receive from us

In some cases, such as we are providing recommendations that refine or complement our previous advice, and where there is no material change to your circumstances, it’s neither practical nor necessary to provide you with a SoA. In these cases, we will instead keep a written record of our recommendations and retain this Record of Advice (RoA) for seven years. You can request a copy of the RoA, or the SoA to which it relates, within seven years of the date of the service and we will provide it to you without charge.

If you engage us to provide you with ongoing advice, support, and service, you will need to sign a Client Consent Agreement every year to confirm the terms of our engagement. In addition, you will receive a Fee Disclosure Statement every year to ensure that you understand our services and their cost.

As well as an SoA & RoA, where applicable, you will also receive a Product Disclosure Statement (“PDS”) about any financial product we recommend (except for listed securities). Each PDS will outline the relevant product in detail including features, benefits, conditions, costs and cooling-off rights (if applicable), in order to assist you in making an informed decision about what is right for you.

Financial services and products we provide

We can provide personal financial advice, and transact on your behalf, in relation to the following types of financial products:

  • Securities
  • Managed investment schemes
  • Investment and funeral bonds
  • Deposit products
  • Government debentures, stocks or bonds
  • Personal and business risk insurance
  • Superannuation products
  • Margin or investment loans

Some of the financial services or products that we are authorised to provide may be beyond those which we authorise your Advisor to offer. The financial services or products your Advisor is authorised to offer are outlined in the Representative Profile (Part B ) of this FSG.

Reviewing Your Financial Situation

We recommend you review your financial situation at least annually or when your personal or financial circumstances change. Reviewing your financial plan is an important step in the financial planning process as it makes sure you are on track to achieving your goals and objectives, whilst also ensuring that the advice remains appropriate for you. You should notify your advisor if your current financial situation changes.

Consent & Authorisation

If you authorise us to accept digital consent or email instructions (or to provide you with information and regulated documents electronically) then you are responsible for the security and integrity of your authorised email. If you instruct us to take instructions from, or provide advice or release information to, your spouse (or equivalent) you are authorising us to do so without seeking further confirmation from you.

Likewise, you accept that an email from us to your nominated email account is communication with you. Information or documents sent to your nominated email is deemed to have been provided to, and received by, you. Further, we can reasonably rely on this authorisation and use the nominated email unless, or until, you either revoke it in writing or nominate an alternate address.

For more detail on your responsibilities, or how we will rely on your instructions, please refer to our privacy policy.

What are the restrictions on our advice?

We generally recommend products that are listed on our Approved Product List (APL). This APL includes a wide range of investment products from financial product issuers.

Before a product can be added to the APL, we undertake a due diligence process and products are required to meet a certain minimum standard. If the products on the APL are not appropriate for your needs, we may recommend products outside of the APL, where there is a reasonable basis to do so. At all times, we will ensure that our recommendations are in your best interests.

What information do we need from you?

In order to provide advice tailored to your personal circumstances, we will ask you questions regarding your needs and objectives, which would typically include details of your current financial situation and other relevant personal information.

You may choose not to tell us, if you do not wish to, however, the advice you receive may not be appropriate.

Please read the warnings contained in the Statement of Advice carefully before making any decisions relating to financial products.

Your personal information – how we record it and how you can access it

Our Privacy Policy is designed to ensure the privacy and security of your personal information. A copy of our Privacy Policy is available on our website at www.oreanafinancial.com/privacy-policy or can be obtained by phoning us on +61 3 9804 7113.

A record of your personal information, which includes certain information such as your address and other details required in order to issue a financial product such as health and financial information is maintained, including any recommendations made to you. You can access your file by contacting us.

Giving us instructions

Generally, we will need you to provide your instructions in writing (for example, electronically, by fax, email or letter) or another method agreed by us.

If you need to make amendments to your financial plan or provide other instructions, you can do so by using the contact details set out in this FSG and the associated Representative Profile.

How do you pay for our services and how are the costs calculated and disclosed?

At Oreana Financial Services you have the flexibility to pay for your services in a manner which meets your needs. If you receive personal financial advice from us, we will provide you with details of any fees, commissions and any other benefits, in actual dollar amounts where possible, in the written advice we provide you or verbally, where applicable. We will also regularly confirm that you consent, and continue to consent, to these arrangements and fees.

The fees, charges and remuneration information in the FSG relate to our dealings with you as a retail client. Different arrangements may be in place for wholesale clients. In any event, no service fees will be charged, or deducted, without your written consent.

We will agree with you the amount you pay based on:

  • A flat dollar fee;
  • An hourly rate;
  • The amount you invest;
  • Transaction fees wherein Oreana charges for specific transactions Oreana arranges on your behalf or
  • A combination of the above.

You can pay in the following ways:

  • As a fee for advice that will be deducted from your investment as a one-off payment or in instalments;
  • By direct invoice from us for initial and ongoing advice;
  • Via commission we may receive when you commence an insurance contract or loan product; or
  • A combination of the above.

Details of any payment we receive from financial product issuers are contained in the Product Disclosure Statements that we will provide you with when we recommend a financial product.

If you do not receive personal financial advice from us, we will provide upon request details of any fees, commissions and any other benefits in relation to any other financial service we provide you.

Does your advisor receive any further benefits?

Your advisor may attend conferences and professional development seminars that have a genuine education or training purpose. We keep a register detailing certain non-monetary benefits that the advisor receives (e.g. benefits valued between $100 and $300, genuine education or training and information technology software or support). An extract of the register is available for review by contacting your advisor.

What if you have a complaint?

Your satisfaction is important to us and we have procedures in place to resolve any concerns promptly and fairly. If you have any concerns or complaints regarding the advice you receive or other aspects of our service, as a first step please contact your advisor and we will do our best to resolve your concern quickly and fairly.

If your advisor has not satisfactorily resolved your complaint, please put your complaint in writing or contact our Complaints Officer on +61 3 9804 7113.

For any written complaints please send it to:

Complaints Officer
Oreana Financial Services Pty Ltd
Level 7, 484 St Kilda Road, Melbourne VIC 3004

We will acknowledge your complaint in writing within one business day of receiving it, or as soon as is practicable. And a written response will be provided within 30 calendar days after receiving the complaint. If your complaint takes longer than 30 days to respond to, we will notify you as soon as we become aware of this.

If you are still not satisfied with our response, then you may refer the matter to the Australian Financial Complaints Authority (AFCA). The Australian Financial Complaints Authority is the external dispute resolution (EDR) scheme to deal with complaints from consumers in the financial system. Our AFCA number is 37074.

You can contact AFCA by writing to:

Australian Financial Complaints Authority
GPO Box 3, Melbourne VIC 3001

or contacting:

Website: www.afca.org.au
Email: info@afca.org.au
Telephone: 1800 931 678 (free call)

Professional Indemnity Coverage

Oreana holds professional indemnity insurance that satisfies the requirements of Section 912B of the Corporations Act and covers advice, actions and recommendations which your advisor has been authorised by Oreana to provide to you.

This insurance also covers the conduct of advisors who were authorised at the time of providing the advice which may later become the subject of a complaint, but at the time of the complaint are no longer representatives of ours.

Financial Crimes Monitoring

Under anti-money laundering and counter terrorism laws, we must meet strict identification requirements before we can provide services to you. Where we are legally obliged to do so, we may disclose the information we have gathered about you to regulatory or law enforcement agencies.

You should also be aware that transactions may be blocked or declined where we have reasonable grounds to believe they breach Australian law or the law of another country.

Complaints

If you have a complaint about a privacy issue, please let us know. You can find out how to make a complaint and how we will deal with these complaints, by reading our Privacy Policy, available at www.oreanafinancial.com/privacy-policy or by calling +61 3 9804 7113 and asking us for a copy.

Contact Us

Please contact us if you have any questions or comments about our FSG. We welcome your feedback. For more information please go to https://www.oreanafinancial.com/for-clients/

You can contact us by:

  • Emailing us on: info@oreanafinancial.com;
  • Calling us on +61 3 9804 7113; or
  • Speaking to us in person at:
    Oreana Financial Services Pty Ltd
    Level 7, 484 St Kilda Road
    Melbourne VIC 3004

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