Financial Services Guide
Version:
1 July 2024
Licensee:
Momentum Advice Pty Ltd (AFSL 520408)
This Financial Services Guide (FSG) is authorised for distribution by Momentum Advice.
Authorised Representatives:
WFP Pty Ltd trading as goodplan
(ASIC# 1289376 ABN 51 634 013 719)
Zachary Webber (ASIC# 1233078)
Authorised Representatives act on behalf of Momentum Advice who is responsible for the services that they provide.
Contact Details
Zach Webber
0439 700 340
zach@goodplan.com.au
‘Rivermakers’, 82 Colmslie Road,
Morningside QLD 4170
Post: PO Box 31, Morningside QLD 4170
Purpose of this FSG
This FSG will help you decide whether to use the services that we* offer. It contains information about:
The services we offer and their cost
Any conflicts of interest which may impact the services
How we are remunerated
How we deal with complaints if you are not satisfied with our services.
* In this document ‘we’ refers to goodplan and Zachary Webber.
Momentum Advice
Momentum Advice holds an Australian Financial Services Licence. It is required to comply with the obligations of the Corporations Act and the conditions of its licence.
This includes the need to have adequate compensation arrangements in place with a Professional Indemnity insurer for the financial services that it and its current and past representatives provide.
We are a boutique advice practice that works with a small number of clients and their family groups. We prefer to have close and lasting relationship with our clients.
We provide services on an annual engagement basis. This means we engage with our clients to provide services over 12-month periods. At the commencement of each period, we will document the services that we will provide to you over the coming year, the fees you will pay and any other remuneration we may receive from third parties.
It is always your choice whether you re-engage us at the end of each 12-month period. We will only commence a new annual engagement where you have notified us of your decision in writing.
Our services
We are authorised to provide personal advice and dealing services in the following areas:
Superannuation and SMSF
Retirement planning
Personal risk insurance
Managed investments
Securities
Margin lending
Lack of independence
We do not charge you a fee for our advice on risk insurance policies as we are paid a commission by the product provider. For this reason, we do not represent ourselves as independent, impartial or unbiased.
In all other cases, we charge a fee for our advice services and do not receive commissions or other payments from product providers.
The financial advice process
We recognise that the objectives and personal circumstances of each client are different.
Where we provide personal advice, we will listen to you to understand your objectives and circumstances. We will also ask questions to make sure we provide advice which is in your best interests.
When we first provide personal advice to you it will be explained thoroughly and documented in a Statement of Advice which you can take away and read.
The SoA will explain the basis for our advice, the main risks associated with the advice, the cost to you of implementing the advice, the benefits we receive and any conflicts of interest which may influence the advice.
For administration platforms, managed funds and personal risk insurance products we will provide you with a Product Disclosure Statement. This contains information to help you understand the product being recommended.
At all times you are able to contact us and ask questions about our advice and the products we recommend.
You can provide instructions to us in writing, via phone or via email. In some cases, we may require you to provide signed instructions.
We may provide further advice to you to keep your plan up to date for changes in your circumstances, changes in the law and changes in the economy and products.
If we provide further advice it will be documented in a Record of Advice which we retain on file. You can request a copy of the RoA document at any time up to 7 years after the advice is provided.
Our Advice
We do not guarantee the performance of any investment. You should understand that all investments apart from cash can lose significant value in a short period of time.
Our advice will be based on the laws relating to tax and superannuation at the time of the advice. You should understand that laws can and do change often and consideration of these changes is a benefit of continuing to engage our services.
Working with Other Professionals
You may require a lawyer to assist you with estate planning or an accountant to assist you with more complex tax planning.
We will work with the other professionals that you have engaged, or we can refer you to professionals that we trust.
We will always be clear about who is responsible for the advice to you. We will always seek your consent before sharing information with other professionals.
Ceasing Your Engagement
We provide services on an annual engagement basis. At the end of each service period, our engagement with you will automatically cease.
You also have the option of ceasing our services at any time. Note that this does not apply to the initial engagement.
Fees
All fees for our services are payable to goodplan.
Advice Preparation Fee
The Advice Preparation fee includes meeting with you, the time we take to determine our advice and the production of the SoA.
The Advice Preparation fee is based on the scope and complexity of advice provided to you. We will agree the fee with you before providing you with advice.
Advice Implementation Fee
If you decide to proceed with our advice, we may charge a fee for the time we spend assisting you with implementation. We will let you know what the fee will be in the SoA.
Annual Services Fees
Our annual service fees depend on the level of service that we provide to you. The fee will typically be a fixed or percentage-based amount which is paid monthly.
Commissions
We receive commissions and other benefits from some product providers. The commission or benefit will vary depending on the recommended product and will be documented in the SoA or RoA.
Insurance Commissions
goodplan receives a one-off upfront commission when you take out an insurance policy we recommend. We also receive a monthly commission payment for as long as you continue to hold the policy.
Other Benefits
We may receive other benefits from product providers such as training, meals and entertainment. Details of any benefits received above $100 will be maintained on a register which is available to you on request.
Adviser Remuneration
Zachary Webber is the owner of goodplan and he is remunerated through the profits that it makes.
Making a Complaint
We endeavour to provide you with the best advice and service at all times. If you are not satisfied with our services, then we encourage you to contact us. Please call us or put your complaint in writing via email to our office.
If you are not satisfied with our response you can refer it to the Australian Financial Complaints Authority.
You can contact AFCA on 1800 931 678 or via their website www.afca.org.au. This service is provided to you free of charge.
Your Privacy
We are committed to protecting your privacy. We have a Privacy Policy which sets out how we collect, hold, use and disclose your personal information.
It also sets out how you can access the information we hold about you, how to have it corrected and how to complain where you are not satisfied with how we have handled your personal information.
Our Privacy Policy is available on request and on our website.
Contact Details
Zach Webber
0439 700 340
zach@goodplan.com.au
Office: ‘Rivermakers’
82 Colmslie Road, Morningside QLD 4170
Post: PO Box 31, Morningside QLD 4170