Stewards AFSL Pty. Ltd - Financial Services Guide

This Financial Services Guide (FSG) is a document that we are legally obliged to provide you.  It is designed to give you a better understanding of our group before you receive any of our financial services and/or advice. It contains important information about:

• The financial services we provide

• How we and our associates are paid

• Any potential conflicts of interest

• Our compensation arrangements

• How complaints are resolved

• Information you need to supply

• Other information you need to know

This is a very important document and we recommend that you read it carefully. If you need further explanation or you are unsure about any part of this document we encourage you to ask us any questions you may have.

About Stewards AFSL and your Adviser

Stewards AFSL Pty Ltd (“Stewards AFSL”) holds an Australian Financial Services Licence No 450198.  The company is licensed to provide financial product advice and deal in the following financial products, including the distribution of this FSG:

• Basic Deposit Products

• Managed Investments

• Securities

• Superannuation

• Retirement Savings Accounts

• Government Debentures, Stocks and Bonds

• Life Insurance Investments Products

• Life Insurance Risk Products

Your Adviser will be acting on behalf of Stewards AFSL as an Authorised Representative when providing the financial services offered in this FSG. They will also provide you with their personal Adviser Profile (attached).

Stewards AFSL is therefore responsible for the financial services and advice your Adviser provides on behalf of Stewards AFSL. As an Authorised Representative of Stewards AFSL, your Adviser can provide you with the following services:

• Advanced Estate Planning

• Wealth Creation and Retirement Planning

• Investment Portfolio Construction services

• Personal and Corporate Superannuation

• Retirement Savings Account Products

• Self-Managed Superannuation Funds

• Personal and Business Risk Insurance

• Centrelink Planning Advice

• Cash Flow and Debt Reduction Strategies

• Portfolio Review and Ongoing Service

Specific information about your Adviser, their experience and specialisation is provided in their Adviser Profile attached to this document.

Stewards AFSL is only responsible (together with your Adviser) for services offered by your Adviser as a Stewards AFSL Authorised Representative and not in any other capacity.

It is very important that you are aware that Stewards AFSL Authorised Representatives are restricted in offering you a range of products and services. This restriction is limited to an Approved Product List (APL) established by internal research. The ability of your Adviser to recommend some of the products on the APL may be limited due to some additional accreditation requirements. Where this is the case, additional information is provided in the attached Adviser Profile.

Your Stewards AFSL Authorised Representatives may also conduct separate business activities such as accounting, consulting, taxation advice, legal advice, direct property, property syndicates, general insurance, mortgages, business finance, superannuation fund administration and other services not provided under the Stewards AFSL licence. These services fall outside Stewards AFSL Australian Financial Services licence and Professional Indemnity insurance policy.

In all your dealings with your Adviser you must satisfy yourself as to who is responsible for the specific advice or service provided. Please discuss any issues with your Authorised Representative or call Stewards AFSL direct on 0412 366 570.

The interests, associations and relationships that may influence or affect our advice

Stewards AFSL is not owned by any financial product provider or parent company.  

Related Parties / Entitles

Our recommendations to you will be based on our assessment of your personal circumstances, needs and objectives. These factors underpin our advice but it is important for you to appreciate that in your best interests all Authorised Representatives of Stewards AFSL are banned from receiving any interest or benefit that could arise from their commercial interests, associations and relationships.

General Relationships

Stewards AFSL does not receive any payments from any financial institutions.  

Stewards AFSL does however receive payments from Stewards FMG Pty. Ltd. for providing a range of licensing support services.  None of these payments are in any way related to any financial products that may from time to time be recommended to you.

These licensing support payments assist to offset the operational expenses incurred by Stewards AFSL in maintaining administrative and compliant services to its Authorised Representatives (your Adviser) network, and those businesses that operate under its Australian Financial Services Licence.  

From time to time, these administrative platform/s and product providers may be removed or others included according to the ever changing services and products being made available to the industry and their competitive position.

Other documents you may receive

If we provide you with personal financial services advice, we will confirm our recommendations in writing so that you can make an informed decision about the appropriateness and suitability of our advice.

Our recommendations are usually be documented in a Statement of Advice (SoA) and will be provided to you. A Record of Advice (RoA) may be used to record any advice where we have provided you with subsequent advice and your personal circumstances have not changed. The RoA will be added to your file and if you would like a copy of this document, we will make it available to you on request. Although your request may be made to your Adviser up to seven years after the advice has been provided, we suggest you contact your Adviser as early as possible.

After you engage us as your Adviser, we can act on your instructions whether you provide them by telephone, email, fax or other means of communication agreed to.

Your Personal Information

In order to continue to provide you with advice that is appropriate for your needs and suitable for your circumstances, we will retain information about you including your financial and lifestyle objectives and your current financial situation.

We are also legally required to store this information and record of any advice and services we provide to you. Information acquired by us in the course of providing our services will not be disclosed to any other party without your express consent, except as required by law or professional obligation.

Please refer to our privacy policy for more information. If you wish to review your personal information held by Stewards AFSL please contact your Adviser or contact Stewards AFSL.

The Anti-Money Laundering and Counter Terrorism Financing Act 2006 requires that you may be “identified” before investing in a financial product. What this means is that you may be required to produce documentary evidence to confirm your identity.

Your Adviser will explain these requirements to you if and when appropriate.  

Managed discretionary account services

We are not licensed to provide any Managed Discretionary Account Services.

This means we must always obtaining your instructions before we action any transaction we undertake on your behalf.  You remain in control of your investment decisions.  Your Stewards AFSL Adviser is there to guide and advise you only.

In addition, we do not (and we are not authorised to) open new accounts, withdraw funds or contribute funds to your investment.

Custodial or Depository Services

We do not provide custodial or depository services.  So you will either hold the investments in the portfolio, or the custodian nominated for that financial product.

This Financial Services Guide complies with the ASIC Class Order 04/194.

Stewards AFSL and your Adviser’s remuneration

The cost of providing our service to you will depend upon the nature of the service provided. F Stewards AFSL and your Adviser may receive some of all of the following types of remuneration:

Fee for Service is calculated at an hourly rate charge of $200 - $400 per hour plus GST of 10%.

Before the provision of any advice or service, your Adviser may charge you an upfront fee for services based on either:

• The time they spend developing your advice;

• A fixed dollar amount; or

• A combination of some or all of these methods

Annual Review program: In some instances fixed annual review fees are charged subject to agreed negotiated rates with clients.  These fees are based on a range of ongoing services.

Costs: Clients can be charged for the recovery of costs incurred in relation to the preparation, printing, photocopying and binding of reports, meeting room hire, travel expenses including accommodation, taxi and airfares and meals if required to travel by the client.  Clients will be notified in advance of these costs being incurred.

How is your Adviser paid?

a) All fees and cost recoveries payed to your Adviser are retained by your Adviser.  There is no split of shared revenue between your Adviser and Stewards AFSL.  

b) Your Advisers remuneration is based on the fees generated for services as an Authorised Representative.

c) Your Adviser is required to keep a Register of Alternative Remuneration which shows any payment other than fees which may be received by me from fund managers or product providers.  This register is available for inspection with 7 days’ notice.

Commissions

Neither Stewards AFSL nor your Adviser receive upfront and ongoing commissions.  

Referrals

Stewards AFSL does not pay any third parties a referral fee to receive client referrals.  Likewise Stewards AFSL does not receive any referrals from any third parties when referring our clients to them.

Your Adviser is prohibited from receiving or paying any Referral fees to any third parties.

Alternative Remuneration

Stewards AFSL and your Adviser may receive alternative remuneration, such as entertainment and gifts, from third parties including financial institutions. In accordance with the Industry Code of Practice, both Stewards AFSL and your Adviser must maintain a register of all material alternative remuneration paid and received. Copies of these registers are available on request.

Performance credits

Your Adviser is prohibited from receiving any additional benefits for recommending any financial products and investment platforms to you.  

Other Information

Further information on remuneration and your Adviser are provided in the attached Adviser Profile. The basis and amount of all fees will be fully disclosed in your SoA and explained by your Adviser prior to the implementation of any advice.

Complaints resolution procedures

Stewards AFSL is committed to providing a high level of client satisfaction and maintaining our reputation for honesty and integrity. If we have failed to achieve this we would like you to tell us about your concerns.

Stewards AFSL is committed to resolving any client concerns and aim to deal with any complaints quickly and fairly. If you have a complaint, it may be lodged either verbally or in writing and will be dealt with in the strictest of confidence. Should you have a complaint please contact your Adviser or Stewards AFSL to discuss your complaint or put your complaint in writing and send it to Stewards FMG Pty. Ltd., level 26, 44 Market Street, Sydney, NSW, 2000

If a complaint cannot be resolved to your satisfaction within 45 days, you have the right to make a complaint, free of charge, to the Financial Ombudsman Service on 1300 780 808.

Stewards AFSL compensation arrangements

We are required by the Corporations Act 2001 (Cth) to operate a compensation arrangement which is designed to compensate retail clients for losses they may suffer as a result of a breach by Stewards AFSL or its Advisers of the obligations outlined in Chapter 7 of the Corporations Act. Stewards AFSL has Professional Indemnity Insurance in place which covers both Stewards AFSL and our Advisers (including the conduct of those Advisers who are no longer authorised by Stewards AFSL but were so at the time of the relevant conduct).

Please Note: The FSG is only complete when accompanied by an Adviser Profile

Adviser Profile

The financial services are offered to you by:  MATTHEW DAVID LOCK

Your Adviser is Matthew Lock, an Authorised Representative of Stewards AFSL Pty. Limited (Stewards AFSL).

Matthew’s ASIC Authorised Representative number is 328 921.

Matthew Lock has worked in the financial planning industry for the past 25 years.  During this time Matthew has held several senior client advising and management positions with companies such as, William Mercer, CPS Credit Union, BDO Nelson Parkhill, IPAC Securities and OneVue.  

Matthew has also founded a financial planning software business called CARM which is utilised by both large, well known organisations as well as independent financial planners.

Matthew holds a Bachelor of Business in Accounting and a Masters in Business Marketing.  Matthew is also RG146 qualified, and is a Certified Practicing Accountant, a Certified Trust and Estate Practioner and a Certified Practicing Marketer.

Matthew’s employer is Stewards FMG Pty Limited, which is a Corporate Authorised Representative of Stewards AFSL 472 512.  

Matthew’s contact details are:

c/- Stewards FMG Pty. Ltd., level 26, 44 Market Street Sydney NSW 2000

Matthew is authorised by Stewards AFSL to provide financial product advice and deal in the following:

• Deposit Products

• Managed Investments

• Securities (shares)

• Superannuation

• Government Debentures, Stocks and Bonds

• Life Insurance Investments Products

• Life Insurance Risk Products

As part of his services to you, he is able to provide advice on the following:

• Advanced Estate Planning

• Wealth Creation and Retirement Planning  

• Personal and Corporate Superannuation

• Retirement Savings Account Products

• Self-Managed Superannuation Funds

• Personal and Business Risk Insurance

• Centrelink Planning Advice

• Cash Flow and Debt Reduction Strategies

• Portfolio Review and Ongoing Service

How does he charge clients for his services?

Fee for Service is calculated at an hourly rate charge of $200 - $400 per hour plus GST of 10%.

Annual Review Program Fees: In some instances fixed annual retainer fees are charged subject to agreed negotiated rates with clients.  These fees are based on a range of ongoing services.

Costs: Clients can be charged for the recovery of costs incurred in relation to the preparation, printing, photocopying and binding of reports, meeting room hire, travel expenses including accommodation, taxi and airfares and meals if required to travel by the client.  Clients will be notified in advance of these costs being incurred.

Commissions:  Commissions are not accepted from the issuers of investment products or insurance products we recommend. Where upfront or ongoing commissions are built into any recommended insurance products, any commission received will be rebated back to clients in full.

How am I paid?

a) All fees and cost recoveries payed to me through Stewards FMG are retained by the company.  There is no split of shared revenue between your Adviser and Stewards AFSL.  

b) My remuneration is based on the fees generated for services provided as an Authorised Representative.

c) I am required to keep a Register of Alternative Remuneration which shows any payment other than fees which may be received by me from fund managers or product providers.  This register is available for inspection with 7 days’ notice.

Commissions

Neither me nor Stewards AFSL receive upfront and ongoing commissions.  

Referrals

I do not pay any third parties a referral fee to receive client referrals.  Likewise I do not receive any referrals from any third parties when referring our clients to them.  I am prohibited from receiving or paying any referral fees to any third parties.

Alternative Remuneration

I may receive alternative remuneration, such as entertainment and gifts, from third parties including financial institutions. In accordance with the Industry Code of Practice, I must maintain a register of all material alternative remuneration paid and received. Copies of these registers are available on request.

Performance credits

I am is prohibited from receiving any additional benefits for recommending any financial products and investment platforms to you.  

Important Note

The Adviser Profile forms an essential part of the Financial Services Guide.  Your Financial Services Guide is not complete without it.

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