Financial Services Guide
Australian Financial Services Licence No: 470605
Preparation Date: 6th March 2018 (Version: 1.8)
1. What is a Financial Services Guide?
This Financial Services Guide (‘FSG’) helps you understand and decide if you wish to use the financial services we are able to offer you.
It provides you with information about Ignition Wealth Pty Ltd (Ignition Wealth, us, our, we) and the services we provide. It tells you:
- who we are and how we can be contacted
- what services and products we are authorised to provide to you
- how we (and any other relevant parties) are paid; and
- how we deal with complaints.
We may provide you with personal advice that takes into account your needs, financial situation and circumstances. Where we provide you with personal advice we will provide you with a Statement of Advice (SOA). The SOA outlines our advice and the basis on which the advice was given. It also outlines relevant information about us, our fees and charges associated with our advice.
If we provide further personal advice, you may request a record of the further advice (ROA) that is provided to you, if you haven’t already been provided with it. You can also contact us, using the details at the start of this FSG, within 7 years from when the advice is provided to request this record.
Occasionally we provide general advice. If we provide you with general advice, it may not be appropriate to your needs, financial situation or objectives, and you should consider your circumstances before choosing to proceed with our advice. Additionally, you should obtain and read the applicable Product Disclosure Statement (PDS) (if one is available) before making a decision.
If we recommend a product to you that has a PDS, we will provide it to you. A PDS describes important information including information about the product, risks, benefits and costs.
We have arrangements in place to maintain professional indemnity insurance. This insurance satisfies the requirements under section 912B of the Corporations Act 2001.
Please retain this FSG for your reference and any future dealings with us. We may also add documents at a later date which will also form part of this FSG, and these should be read together with the FSG. These documents will include the word ‘FSG’ in the heading.
2. Who will be providing the Financial Services to you?
Ignition Wealth is the holder of an Australian Financial Services Licence and is responsible for the financial services that it and its representatives provide to you. Ignition Wealth authorises, and is also responsible for, the content and distribution of this FSG. Ignition Wealth’s contact details are provided on the first page of this FSG.
We act on your behalf when we provide financial services to you.
If you have elected to subscribe to one of our adviser-supported advice services, Ignition Wealth confirm that your adviser will always be an authorised representative of Ignition Wealth. In that case, your Adviser will provide you with Part B of this Financial Services Guide containing that Adviser’s Profile.
3. How you may provide instructions to us
In order to provide instructions to us, we prefer that you access our online portal at www.ignitionwealth.com. You can also contact us using the details at the start of this document.
4. What services and products are we authorised to provide to you?
Ignition Wealth is a online and face-to-face financial advisory business.
We provide services both directly to consumers and on a business to business basis.
We are authorised to deal in and offer financial product advice, to retail and wholesale clients, for the following classes of financial products:
- basic and other deposit products;
- debentures, stocks or bonds to be issued or proposed to be issued by a government;
- life products including
- investment life insurance products
- life risk insurance products
- interests in managed investment schemes (including investor directed portfolio services)
- retirement savings accounts
- securities; and
In providing our services, other financial matters may arise, such as taxation issues. However, we are not authorised to provide advice relating to those financial issues, or any other issues except those explained above. You should seek specific advice from the appropriate professionals if these issues are relevant to you.
5. What fees and commissions are payable to Ignition Wealth?
We receive fees for providing you with our services. All fees described in this FSG include GST.
Advice Fees: Ignition Wealth may charge you a fee when you request advice from us. Some self-directed advice journeys have no advice fee, while others, including our adviser supported advice services may attract a fee of between $200 – $5,000 depending on the complexity of the advice. All advice fees are disclosed in your Statement of Advice.
Implementation Fees: Ignition Wealth may charge you an implementation fee when implementing our recommendations. These fees are between $99 – $600 depending on the complexity of the advice. All Implementation Fees are disclosed in your Statement of Advice.
Account Fees: Self-directed personal investment clients will be charged an account fee of $16.50 per month ($198.00 per annum) for access to our online tools, advice services and your formal statements of advice or self-directed advice and setup and management of underlying investment account providers.
Self-directed Self-managed Superannuation Fund (SMSF) clients will be charged an account fee of $38.50 per month ($462.00 per annum) for access to our online tools, advice services and your formal statements of advice or self-directed advice and setup and management of underlying investment account providers.
Ignition Wealth currently offers 2 levels of model portfolios:
- Kickstarter portfolios for investors with greater than $5,000 and less than $25,000. Kickstarter portfolios are free.
- Horizon portfolios appropriate for investment of $25,000 or more. Horizon portfolios will be charged a portfolio fee of $16.50 per month ($198.00 per annum).
Ignition Wealth charges no fees on funds in your Cash Management Account.
Any advice you request from an Ignition Wealth face-to-face adviser will be charged on a fee-for-service basis, in accordance with our hourly rates and in fifteen-minute time units. Our rates start from $55.00 per 15-minute time unit.
If you make a deposit in your account using a credit card, PayPal or other electronic payment system, you may be charged a fee by the card, system or merchant provider at the time of the transaction, which will reduce the amount that arrives in your Ignition Wealth account. We do not retain any of these fees – they go to the card, system or merchant providers. The fee will vary depending on the credit card or payment system you use.
Ignition Wealth does not charge upfront or exit fees and does not receive any fees or commissions from any product manufacturer or platforms.
You may request more details about the way Ignition Wealth is remunerated within a reasonable time after receiving this document.
6. How are our people and third parties remunerated?
Ignition Wealth’s directors and its employees are remunerated by salary and may also be awarded an annual bonus. Bonuses will depend on several factors including but not limited to company and personal performance.
Ignition Wealth’s shareholders will also receive a benefit based on Ignition Wealth’s ongoing company performance.
In some situations, clients are referred to us by someone else. If this occurs, and we pay a referral fee or commission in relation to that referral, we will tell you who will receive that fee or commission, and the possible amount.
You may request more details about the way these people or entities are remunerated within a reasonable time after receiving this document and before any financial services are given to you. If remuneration or other benefits are calculable at the time personal advice is given, it will be disclosed at the time that personal advice is given, or as soon as practicable afterwards. If remuneration is not calculable at that time, a statement of how the remuneration is calculated will be given to you at the time the advice is given or as soon as practicable afterwards.
By using or continuing to use our services, you agree that:
- All fees and charges received by us as described in this FSG (other than third party fees and charges) are a benefit given to us by you, in exchange for the services provided by us.
- We do not charge asset-based fees where you are investing using borrowed money.
- You understand, consent to, authorise and direct us to charge you in this way.
7. What should you do if you have a complaint?
If you have a complaint, please contact our Complaints Manager on email@example.com and we will try and resolve your complaint quickly, fairly and within prescribed time frames.
If the complaint cannot be resolved to your satisfaction you have the right to refer the matter to the Financial Ombudsman Service Limited (FOS) which is an external complaints service, of which we are a member (Member Number 35852). You can contact FOS on 1300 780 808 (if in Australia) or +613 9613 7366 (if outside Australia) or in writing at GPO Box 3, Melbourne, Victoria 3001, Australia. You can also contact the FOS through their website: www.fos.org.au.