Financial Services Guide
Wealth Within Ltd
ABN 96 088 398 913
AFS Licence No 226347
Issue Date: 30 November 2005
Version 2.4
1st Floor, 270 Auburn Road
Hawthorn, VIC 3122
PO Box 675,
Hawthorn VIC 3122
National: 1300 742 738
Ph: (03) 9290 9999
Fax: 03 9290 9995
info@wealthwithin.com.au
www.wealthwithin.com.au
Purpose of the Financial Services Guide
This Financial Services Guide, is issued by Wealth Within Ltd ('Wealth Within', 'we', 'us', 'our'), whose contact details appear above. The purpose of the Financial Services Guide is to:
- provide brief details of the financial products and services Wealth Within provides in order to assist clients decide whether to obtain financial services from Wealth Within;
- provide information on remuneration paid to Wealth Within; and
- provide details on how we deal with complaints.
General Advice Only
Wealth Within provides general financial product advice only. General advice is prepared without consideration of any specific Client's financial situation, particular needs and investment objectives. Accordingly, Clients should consult their Adviser before making any investment decisions based on such general advice.
Wealth Within' Authorisation
Wealth Within is a private investment manager with specialist expertise in Australian equities. Wealth Within holds an Australian Financial Services (AFS) Licence No. 226347, which has been issued to it by the Australian Securities & Investments Commission pursuant to section 913B of the Corporations Act 2001.
Wealth Within' AFS Licence authorises it to carry on a financial services business to provide advice and deal in a range of financial products to retail and wholesale clients.
The financial products Wealth Within is authorised to advise on and deal in includes the following:
- deposit and payment products;
- derivatives;
- interests in managed investment schemes;
- retirement savings accounts ("RSA");
- securities; and
- superannuation.
Wealth Within' Financial Products and Services
Wealth Within offers a range of financial products and services to both wholesale and retail investors, however, not all services or products may be available to all clients. Products and services include:
- Direct trading in equities on the ASX,
- Leveraged products
- Share trading education,
- Individual Managed Account Discretionary Services,
- Portfolio Adviosry Non-Discretionary Services, and
- Margin lending.
Wealth Within' Remuneration for the Services Provided
Wealth Within may charge brokerage, commission or a fee depending upon the services that are provided. Any charges will be fully disclosed in relation to specific services and transactions. A schedule of Wealth Within's current standard charges are included with this Guide. Fees from third parties will be separately disclosed to clients. Wealth Within may rebate fees to third parties who introduce business to it.
Wealth Within staff receive a salary. Wealth Within staff may also receive benefits based upon bonuses or a proportion of the fees charged by Wealth Within having regard to standards of service to clients and feedback from them, the level of revenue they generate and reaching a range of personal performance targets.
A description of Wealth Within charges for brokerage and fees is set out below:
1. Brokerage
Brokerage is payable on all domestic securities transactions, both purchases and sales, and as a payment for services such brokerage attracts GST.
Subject to minimum brokerage amounts per transaction detailed below brokerage is usually calculated as a percentage of total consideration of each transaction.
The brokerage rate will depend on the type and level of service required and provided; the size and the frequency of the transaction. The following is a sample indication of our brokerage charges:
- $0 - $50,000: scaled up to 1.75% with a minimum of $50
- Next $50,000: scaled up to 1.25%
- Over $100,000: up to 1%
2. Leveraged Products
Wealth Within has an agreement with Macquarie Bank Limited (MBL), under which clients of Wealth Within are able to enter into Contracts for Difference with MBL. Wealth Within assists clients to open an account with MBL which allows clients to execute orders to enter into CFDs with MBL.. Wealth Within receives a commission from MBL based on your investment.
3. Share Trading Education
Wealth Within operates a subscription based business for its share trading education. When subscribing you will be required to pay a subscription fee for the services and support you receive according to the period of time you join.
4. Individually Managed Account Discretionary Services
This Service incorporates individually managed discretionary portfolios for sophisticated investors. This refers to a situation where Wealth Within can effect transactions on behalf on an individual client without prior reference to or approval of that client. Therefore, on a general basis the client authorises Wealth Within to purchase, acquire, sell or dispose of financial products to form part or all of the portfolios at the discretion of Wealth Within. Depending on your portfolio size and risk objective, a management fee will be charged monthly ranging from 1.00% - 1.75% p.a. (plus GST) calculated on the value of your portfolio.
5. Portfolio Advisory - Non-Discretionary Services
This service incorporates portfolio advisory service on a non-discretionary basis for retail clients. This refers to a situation where Wealth Within can effect transactions on behalf of an individual client once the client has given the instruction to do so. Wealth Within combines advice, management and full administration of the client's portfolio and acts on the instructions provided by the client. Depending on your portfolio size and risk objective, a management fee will be charged monthly ranging from 1.65% - 1.95% p.a. (plus GST) calculated on the value of the portfolio.
6. Other Benefits from Product Issuers
With certain products (margin lending), Wealth Within may receive an on going (or trailing) commission from the product provider, based on your investment. The commissions can vary and are available upon request.
Further information about the full range of products and services and associated fees and charges are available on the Wealth Within website.
Clients Rights and Responsibilities
The mere existence of an account with Wealth Within or the acquisition of a financial product through Wealth Within does not mean that Wealth Within is responsible for monitoring a client's portfolio. Similarly the fact that Wealth Within may contact clients with recommendations is not an indication that the account is being managed by Wealth Within. Unless a separate arrangement like a Managed Discretionary Account Contract is entered into in writing between the client and Wealth Within, clients remain responsible for monitoring their own portfolios.
Instructing Wealth Within in Relation to Investments in Financial Products
In accordance with general market practice within the financial services sector clients will be asked to complete an Account Opening Form (where applicable) which is designed to administer and regulate the arrangements for Wealth Within to provide financial services to its clients. The Account Opening Form makes provision for the supply of all the necessary details to open a securities trading account and the details required to assist Wealth Within in the provision of appropriate investment recommendations.
Accounts opened in the name of a company need to be guaranteed by an individual, which is usually the director who receives advice and instructs all trading in relation to the account.
Email is the usual method of instructing Wealth Within in relation to a securities trading account, although instructions can also be given by mail, facsimile or telephone. Instructions by facsimile and e-mail will only be effected once Wealth Within has acknowledged receipt of those instructions in writing. Similarly instructions for the acquisition or disposal of other financial products may be made in writing or electronically provided such instructions are acknowledged in writing.
All instructions to buy or sell listed equities are automatically accepted on a "good till cancelled" (GTC) basis unless alternate instructions are provided.
It is important to note that ASX has the power to cancel a Market Transaction that has been executed on its market. Any such instruction to Wealth Within to cancel a trade will automatically result in cancellation of the transaction by Wealth Within with the client irrespective of whether or not the trade has previously been confirmed to the client.
Wealth Within' published Research is general financial product advice only and does not constitute advice to any particular person and therefore cannot be considered as personal advice.
Clients have the right to be advised about any interest that Wealth Within, or its employees, may have in a security that may reasonably be expected to influence their recommendation to the client.
Risks Associated with Investing in Listed Equities
Whilst we don't provide personal financial product advice you should be aware of the risks associated with investing in listed equity securities. Some of these risks include:
1. Market risk -risk inherent in that market such as the economic influences of inflation and interest rates.
2. Sector risk - risk associated with an industry's specific products or services (for example, demand for the product or service; commodity prices; the economic and industry cycles; changes in consumption patterns; lifestyle and technology changes).
3. Equity specific asset risk - risks associated with the specific investment (for example, quality of the company's directors; the strength of management and key personnel; profitability and asset base; debt level and fixed-cost structure; litigation; competition levels; liquidity of the investment).
4. Liquidity Risk - whilst listed equities are the most liquid market after cash, there is a liquidity risk in relation to being able to quickly and easily trade, at a reasonable price, into and out of positions in some stocks.
5. Currency Risk - investment in overseas bonds or equities, and Australian companies with a substantial percentage of their operations offshore, have the added risk of unexpected variability caused by exchange rates.
Privacy
Client privacy is important to Wealth Within. Read our Privacy Policy.
Complaint Resolution Procedures
As part of its commitment to customer service Wealth Within has in place a complaints handling procedure consistent with the Australian Standard.
If you have a complaint about any of the services provided to you then you should take the following steps:
1. Contact the Wealth Within Compliance department on 1300 742 738 or Melbourne direct on 9290 9999 and tell us about your complaint.
2. If your complaint is not satisfactorily resolved within 3 business days, please put your complaint in writing and send it to:
The Compliance Manager
Wealth Within Ltd
P.O. Box 675
Hawthorn, VIC 3122
We will attempt to resolve your complaint quickly and fairly. If the complaint is not resolved internally to your satisfaction within 45 days then you are entitled to refer the complaint to the Financial Industry Complaints Service of which Wealth Within is a Member, the contact details of which are as follows:
Financial Industry Complaints Service Limited
PO Box 579
Collins Street West,
MELBOURNE VICTORIA 8007
Telephone: (03) 9629 7050
Toll Free: 1300 780 808
Facsimile: (03) 9621 2291
Email: fics@fics.asn.au
ASIC also provides a free info-line service on 1300 300 630.
