1 July 2022
THURAISINGAM VASANTHAKUMAR (also known as Kumar Vasantha), Authorised Representative No. 000478848 and Wise Financial Advisers Pty Ltd (CAR No. 427980) are Authorised Representatives of Wise Financial Advisers Pty Ltd (AFS License No 225738), ABN 89 091 004 885.
Your Adviser is THURAISINGAM VASANTHAKUMAR (also known as Kumar Vasantha). Kumar Vasantha is an authorised representative of Wise Financial Advisers Pty Ltd and is the “providing entity” for the purposes of the Corporations Law.
Wise Financial Advisers Pty Ltd holds Australian Financial Services License (AFSL) Number 478848, ABN 87 600 163 522 and has authorised the creation of this Financial Services Guide (FSG).
Kumar Vasantha and Wise Financial Advisers Pty Ltd may advise on:
Wise Financial Advisers Pty Ltd is owned and run by Kumar Vasantha as sole director.
Kumar has over 30 years industry experience and has been running his own financial planning business since 2017 and his accounting practice, TASC Consulting since 1989. He is passionate about developing long term relationships and trust with his clients to ensure their individual goals and objectives can be achieved over the long term.
Kumar has worked with families, professional business people and self employed people over the years to provide peace of mind and strategies designed specifically to the individual/s obtaining the advice. Being the owner of multiple businesses he understands the needs of business owners as well.
This FSG is an important document that explains how we provide financial product services to you and your responsibilities as a client and this forms part of our contract with you.
You should read this FSG carefully before using our services. It is intended to give you sufficient information to decide whether to obtain financial services from us.
Most of the content of this FSG is dictated by the Corporations Act and is mandatory under that law, so bear with us regarding its form and content. Please feel free to contact us by telephone, e-mail or writing should this FSG be unclear or should you have any concerns about our services.
This FSG explains:
If we recommend a financial product we must provide you with a PDS for that product either digitally or hard copy on paper. The PDS contains the information needed to make an informed decision about acquiring a product.
The PDS will provide you with the information you need to know about the product and details costs and product fees including commissions and is usually created by the financial institution providing the product.
Once we have met and determined a draft plan for you, we will prepare a "Statement of Advice" or "SOA", The SOA will be in writing and may be delivered via email, post or in person. Your SOA contains the information needed to understand our advice and the basis on which it is made. It includes information about:
We will also provide other documents as needed. These documents may include educational material or PDS, as discussed above.
Once you have been provided with a SOA further advice may be provided in a form known as a record of advice or Record of Advice (ROA), provided there has been no change in your personal circumstances or the basis of the advice set out in the SOA.
We retain all SOAs and ROAs for at least seven years and you may request a copy of the SOA or ROA at any time within that period. This request may be verbal or in writing.
Our statement of advice will contain instructions on how the advice should be implemented. We will work with you to ensure that the advice is properly implemented.
We will ensure that our advice is in your best interests and is appropriate to you at the time it is provided. However, certain aspects of our advice are largely outside our control and are mainly within your control. Therefore, responsibility for these matters largely remains with you.
You are responsible for ensuring that our advice remains in your best interests and appropriate to you over time. You must notify us in writing immediately should your personal circumstances change or should general economic conditions or legislation change in a way that affects our advice to you.
You are responsible for ensuring your bank account and investment account details including account numbers, passwords and personal identification numbers are kept confidential, are stored safely and not recorded in a form that can be accessed by other persons including access by hacking computers, are not provided to any person, including your adviser, and are changed on a regular basis and at least once a month. You are solely responsible for any losses caused by a misuse of this data by any person, including cyber fraud or any other form of fraud.
We endeavor to resolve all complaints quickly and fairly.
Wise Financial Advisers Pty Ltd provides a dispute resolution services to its clients. This obligation is a key tenet of the consumer protection principles of the Australian Financial Services Licensing system.
If you have a complaint about any services you should:
Wise Financial Advisers Pty Ltd will provide you with full details of all fees before doing any significant work for you. Fees will be explained in your meeting and detailed in a statement of advice. Your adviser will also provide you with a detailed breakdown of fees on an annual basis in a fee disclosure statement.
The types of fees, commissions and other benefits that may be received by Wise Financial Advisers Pty Ltd and are described below:
Wise Financial Advisers Pty Ltd may charge fees for the preparation, presentation and implementation of our advice. These fees will be based on your individual circumstances, the complexity involved in your situation and the time it takes to prepare personal financial advice. Wise Financial Advisers Pty Ltd will provide you with written estimates of these fees to ensure that there are no ‘surprises’ after the event. The fees range for $1,500 to $20,000
Wise Financial Advisers Pty Ltd may charge a fee to provide ongoing portfolio review, ongoing advice appropriate to your needs and/or ongoing services. Wise Financial Advisers Pty Ltd will offer you the option to select from a set charge or a charge based on the value of funds under advice and/or the time involved in reviewing your portfolio and circumstances.
The payment of staff salaries does not influence our advice in any way. The cost of providing financial advice and any ancillary services such as accounting services and other business services to you for a fee does not influence our advice in any way.
If you implement a financial product through Wise Financial Advisers Pty Ltd, we may receive payments in the form of initial commissions and/or ongoing commissions from the financial product providers. These commissions are included in the fees and premiums you pay for the product. This is not an additional cost to you.
Details of any fees, commissions or other benefits that we will be entitled to receive if you retain us as your Adviser and if you implement our recommendations will be disclosed to you in the clearest terms. Disclosure will be in dollar terms, or where this in not possible, in percentage terms and will be included in your Statement of Advice or Record of Advice. Fees will also be advised in detail in the PDS for recommended financial products.
If any fees are paid to a third person for referrals these fees will be detailed in your SOA.
As economic and market conditions are constantly changing, the recommendations made in our Statement of Advice are only valid for 30 days from the date of presentation with the exception of an extraordinary events. To ensure that the Statement of Advice remains suitable to your needs, we recommend a review and if necessary a revised plan to be prepared after this time limitation has lapsed.
Wise Financial Advisers Pty Ltd operates a compensation arrangement to compensate retail clients for losses connected to any breach of the Corporations Act or other law by your adviser, Wise Financal Advisers Pty Ltd or other relevant persons.
These arrangements comprise comprehensive and extensive professional indemnity insurance.
Your personal information is protected by our privacy policy and the privacy laws. This information will not be provided to anyone or used for any other purpose unless this is necessary to comply with the law.
A copy of Wise Financial Advisers Pty Ltd and your adviser’s privacy policy will be provided to you upon request. If you are not satisfied with our approach to privacy you are entitled to contact the Office of the Privacy Commissioner who may investigate any complaints you may make.
Wise Financial Advisers Pty Ltd must verify your identity before we provide any financial services. This will be discussed at our meeting.
The SoA you receive will make reference to any potential conflicts of interest that you need to be aware of when deciding whether to rely on our advice.
The financial products that will be recommended are limited to those on Wise Financial Advisers Pty Ltd’s approved product list and does not include all available financial products.
A copy of the approved product list can be provided to you upon request.
Please do not hesitate to contact your Adviser should you have any questions about your Adviser’s services and how your Adviser and Wise Financial Advisers Pty Ltd can help you improve your financial position.
Wise Financial Advisers Pty Ltd
ABN WISE Financial Advisors Pty Ltd. ABN 87 600 163 522 |
Australian Financial Service Licence No: 478848
18 Mason St, Dandenong VIC 3175
Telephone: (03) 9793 9813
Fax: (03) 9793 9814
Email: team@wisefin.com.au
