Financial Services Guide

Version 3.0 | October 2018

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Authorised Representatives:
Avalon D’Abreo (ASIC# 309401)
Barney Ellis (ASIC# 343471)
Stephen Handley (ASIC# 324145)
miPlan Financial Services Pty Ltd
(ASIC# 624554605)

Licensee:
This Financial Services Guide is authorised for distribution by miPlan Advisory Pty Ltd. (AFSL 485478)

Contact Details:
You can provide instructions to us in writing, via phone or via email.
PO Box 454
Geelong VIC 3220
1-300-miPlan (647526)
afsl@miplan.com.au

Financial Plan Elements

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Financial Planning Process

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When we provide you with personal advice you may receive:

  • A Statement of Advice (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 (PDS). This contains information to help you understand the product being recommended.
  • 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.

Advisers & Authorisations

Your advisers are Avalon D’Abreo, Barney Ellis and Stephen Handley.

Avalon, Barney and Stephen excel in providing as much certainty as possible in an uncertain world.

They focus on risk management, both in investing and protection, and the use of guaranteed income streams.

  • They have all worked in financial services for over 14 years.
  • Avalon has been an adviser since 2004, Stephen since 2008 and Barney since 2009.
  • Avalon is an employee of miPlan FS P/L and receives a salary. Barney & Stephen are directors and receive a salary and a share of profits.
  • miPlan Financial Services Pty Ltd is a Corporate Authorised Representative of miPlan Advisory Pty Ltd.
  • Avalon, Barney and Stephen are authorised representatives of miPlan Advisory Pty Ltd and are responsible for the services that we provide.
Avalon, Barney and Stephen can help you with…
  • Budgeting & cashflow management
  • Debt structures & strategies
  • Estate planning
  • Retirement planning & SMSF
  • Social security and aged care
  • Increasing your wealth through superannuation & investments
  • Salary packaging & tax planning
  • Redundancy
  • Personal & business protection plans
  • Budgeting & cashflow management
  • Debt structures & strategies
  • Estate planning
  • Retirement planning & SMSF
  • Social security and aged care
  • Increasing your wealth through superannuation & investments
  • Salary packaging & tax planning
  • Redundancy
  • Personal & business protection plans

Fees

The benefits of sound financial advice will far exceed the costs over time.

Philosophy
The benefits of sound advice far exceed the cost. The value is in having a plan you can stick to, a coach to guide you, with the experience to avoid costly mistakes or missed opportunities. miPlan is a fee for service business. What you pay directly relates to the amount of work we do.

 

Initial advice

  • Your initial consultation is on us. We believe we must first meet to establish whether we can help you, and whether you need us to help you.
  • Once we have agreed that we can work together, miPlan charges a preparation fee for the presentation of a Statement Of Advice (your financial plan). For instance, a simple investment plan may cost $660, a full retirement and Centrelink plan may cost $4,400.
  • If you go ahead, miPlan will charge an implementation fee of $110 per hour.
  • Where we will receive insurance remuneration from insurance companies, this can offset your fees.
  • miPlan Financial Services may receive a one-off upfront commission when you take out an insurance policy we recommend. We may receive a monthly commission payment for as long as you continue to hold the policy.
  • All fees are agreed in advance with you in our client objectives document.

Ongoing service
Just as a car requires regular servicing to keep running smoothly, so does a financial plan. Plans that are regularly reviewed and updated as your circumstances change will be more valuable.

miPlan’s service model, and ongoing service fee, are designed to ensure that we collectively give your financial plan the attention it deserves. Regardless of how fees are paid, the amount that we receive reflects the time spent managing your financial strategy.

miPlan generally charges a flat fee retainer of $1,200 pa +, indexed annually.

All ongoing fees are disclosed annually in a fee disclosure statement and you must opt in to our service bi-annually.

Other fees
Additional services outside the original scope of advice may require an additional charge. We will agree to any charges in advance.

miPlan may be required to liaise with other professional service providers on your behalf. miPlan may charge an hourly consultancy fee of $250 (inc. GST) to attend meetings, provide investment reports or professional advice.

If you are referred, the referrer may receive a referral fee of up to 30%. This is not an additional cost to you. The actual referral fee will be disclosed.

 

Other benefits
Advisers may receive minor benefits including, tickets to events or promotional merchandise from product providers. Any benefits your advisers receive will only be accepted if valued less than $300 per provider per year. Details of any benefits received above $100 will be maintained on a register which is available on request.

 

What we do to help you get it right
We make sure your personal plan fits you perfectly now, and in the future:

  • Help you to formulate your goals and objectives.
  • Assess the current risks to your financial stability.
  • Present you with strategies to consider any gaps that you may have. Research suitable product options.
  • Help you decide which solution works best, then budget and implement that solution.
  • Facilitate other providers so that all of your affairs are in order; for instance an estate plan.

Advice

Appropriate advice & frequently asked questions.

Will the advice I receive be appropriate for my personal circumstances?
Yes. But we need to know your individual objectives and financial situation prior to making any recommendations. If you do not fully divulge your personal circumstances, we cannot guarantee our advice is appropriate and are required to warn you about the possible consequences.

 

Do you have any relationships with product issuers which could influence your advice?
miPlan has no licensing or ownership ties with product providers that could influence your advice.

 

What should I know about any risks associated with the plan?
We will explain any significant risks, as well as the risks of not acting on our recommendations. If we do not, you should ask for an explanation. The financial plan and Product Disclosure Statement contain important information about this.

 

What information do you maintain in my file and can I examine my file?
We maintain a record of your stated objectives and financial situation. We also maintain records of recommendations to you. Should you wish to see your file please ask. We are committed to a privacy policy, which will ensure the security of your personal information.

The privacy of your personal information is important to us. Why is so much information required?
We collect your personal information to enable us to provide you with a financial strategy that suits you.  Under the Corporations Act we are required to collect sufficient information to identify a person’s needs, objectives and financial circumstances so that we can provide appropriate financial advice.

We will gather the information by asking you questions about you and your family. We will record this information.  We endeavour to retain accurate, complete and up to date personal information about you so we will ask you to review the information from time to time.

If the information you provide to us is incomplete or inaccurate this will impact our analysis of your requirements and may result in advice that is not absolutely appropriate to your needs and circumstances.  If this does occur, you will need to make your own assessment concerning the validity of our advice.

 

Access
You may (subject to permitted exceptions) access your information by contacting us. We may charge a fee for providing access.

 

We may provide personal information to:

  • Your adviser and external product providers.
  • Organisations (who are bound by strict confidentiality) to whom we outsource certain functions such as our auditors. In these circumstances, information will only be used for our purposes.
  • Other professionals such as solicitors, accountants and stockbrokers when a referral is required.
  • Third parties when required to do so by law, e.g. legislation or Court Order.

 

Our Privacy Policy
As part of our commitment to client service and confidentiality we have adopted the Australian Privacy Principles as set out in the Privacy Amendment Act 2012.  If you require more details, you can request a copy of our Privacy Policy from us. If you have any questions about privacy at miPlan Advisory, please contact us.

Do you have compensation arrangements in place?
miPlan Advisory 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.

 

What should I do if I have a complaint?
If you have any complaints about the service provided to you, you should:

  1. Contact your adviser and tell them about your complaint.
  2. If your adviser has not satisfactorily resolved your complaint within 5 days, please contact miPlan, PO Box 454, Geelong VIC 3220. Please mark the envelope “Notice of Complaint”. We will try and resolve your complaint quickly and fairly.

 

What if the complaint is not resolved?
If the complaint can’t be resolved to your satisfaction, you have the right to refer the matter to the Australian Financial Complaints Authority (AFCA).

AFCA can be contacted on 1800 931 678 or at info@afca.org.au. Alternatively you can write to them at the address given below. This service is provided to you free of charge.

The Manager
Australian Financial Complaints Authority
GPO Box 3
MELBOURNE VIC 3001

miPlan’s mission is to help all our clients plan a better future.

miPlan offers customised planning solutions for families, small business and retirees.

Our niche is tailored protection plans for young families, succession planning and risk management for business, and lifestyle certainty in retirement.

Barney Ellis - miPlan
Stephen Handley - miPlan
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©2018 miPlan Financial Services Pty Ltd. All Rights Reserved.