About This Document
Veritas Wealth Solutions Pty Ltd (VWS) is required to provide this FSG to you as a condition of our Australian Financial Services Licence (AFSL). It contains information about:
- Veritas Wealth Solutions
- Your Financial Adviser
- The services offered and their cost
- Any conflicts of interest which may impact the services
- How we deal with complaints if you are not satisfied with our services and our commitment to the Privacy Act.
When we provide you with financial planning services you may receive:
- A Statement of Advice (SoA) or Record of Advice (RoA) which documents the advice we provide to you
- A Product Disclosure Statement (PDS) which explains the products we have recommended.
If you need further information or clarification, please contact VWS.
Veritas Wealth Solutions Pty Ltd
Level 1, 55 Blackall Street, Barton ACT 2000
(PO Box 5421, Kingston ACT 2604)
02 6162 1522
About Veritas Wealth Solutions
VWS was established in 2013 and aims to work with its clients to achieve their financial objectives by providing high-quality investment and financial planning services.
VWS is different to many financial planning practices as it holds its own AFSL which has been issued by the Australian Securities and Investments Commission (ASIC).
As a licensee we are required to comply with the obligations of the Corporations Act and the conditions of our licence. This includes the need to have compensation arrangements in place with a Professional Indemnity insurer.
What services are available to me?
Your Adviser can offer the following financial services to retail and wholesale clients under the authority of VWS:
- Provide financial product advice; and
- Deal in a financial product – apply for, acquire, vary or dispose of a financial product on behalf of another person
for the following classes of financial products:
- deposit and payment products – basic and non-basic;
- Government debentures, stocks or bonds;
- life products (investment and life risk);
- interests in managed investment schemes – including IDPS;
- securities; and
- superannuation (including SMSFs).
Who is my Adviser?
Your Adviser is Jodie Dickson. Jodie will provide these services to you as a Director and Representative of VWS. Jodie is a Chartered Accountant and has a Bachelor of Business in Accounting and Graduate Diploma in Financial Planning.
Who will be responsible for the advice given to me?
VWS is an Australian Financial Services Licensee and a Financial Planning Association of Australia (FPA) Professional Practice. Your Adviser acts for the Licensee, Veritas Wealth Solutions Pty Ltd. The Licensee is responsible to you for the financial services provided.
Will my Adviser provide advice suitable to my investment needs and financial circumstances?
Your Adviser needs to determine your objectives, financial situation and needs before making recommendations to you.
You are not obliged to divulge personal information to your Adviser; however not providing information sought by your Adviser may affect the adequacy or appropriateness of our advice. In such cases, your Adviser is required to warn you that the advice provided may not be appropriate to your needs.
Your Adviser is obliged to explain any significant risks associated with investments and strategies recommended to you.
Other Documents You May Receive
Statement of Advice (SoA) and Record of Advice (RoA)
If you choose to utilise our services, you may receive other important documents including an SoA or RoA.
An SoA is a document that explains the advice, the basis on which the advice is provided and information about fees, commissions and associations related to the provision of the advice. You will normally receive an SoA when we provide you with personal advice.
Where we do not provide you with an SoA, the details of such personal advice may be documented in an RoA. An RoA captures the personal advice your adviser provides; however the adviser retains the RoA. You can request a copy of the RoA from your adviser for up to seven years after the advice has been given.
You can provide instructions to us in writing, via phone or via email/fax. Please note you are responsible for ensuring your instructions do however reach us.
Product Disclosure Statement (PDS)
A PDS is a document (or group of documents) that describes a financial product. A PDS contains important information to assist you to make an informed decision about whether to acquire a financial product. You will usually receive a PDS if a recommendation is made to acquire a particular financial product (other than securities) or an offer is made to issue or arrange the issue of a particular financial product.
How is VWS and my Adviser remunerated?
VWS is remunerated for providing our services by fees and/or commissions. All fees and/or commissions are payable to the Licensee. Jodie is remunerated by way of a salary package and may also receive a bonus, which is calculated depending on the company’s and adviser’s performance. As a Director of VWS, Jodie may also share in the profits of the business.
Fees and/or commissions paid to VWS depend on the nature of services provided. We provide you with close estimates of fees and/or commissions before services are provided and these will be set out in the SoA or RoA that we provide to you.
Commissions may very infrequently be paid to us by some product providers. Where you pay for our services via invoiced fees these commissions will be either rebated back to your account or allowed for in our scale of fees.
Examples of Fees Payable to the Licensee:
- Initial Meeting Fee and/or SOA Preparation Fee
- Implementation Fee
- Ongoing Services Fees.
If an initial fee is to be charged by your Adviser, this may be invoiced to you or deducted as an entry fee on your investment, as agreed with you before proceeding.
Fees are paid directly by you, based on a maximum hourly rate of $440 (incl. GST) for ad hoc advice and services. An annual adviser fee may apply for ongoing portfolio management services if agreed to by you in writing.
Examples of Commissions Payable to the Licensee:
- Brokerage is charged by the broker on each trade we execute on your behalf. We will receive a share of this brokerage from the broker.
All commissions will be disclosed in the SoA where we recommend a product that pays us a commission.
We may also receive on occasion additional non-cash benefits from product providers, including training assistance and resources or tickets to entertainment events. They are not additional charges to you and are paid out of the fund manager or platform provider’s own resources.
These may result in a potential conflict of interest; however we adhere to our obligations to ensure the advice provided is in your best interest and not in our interest. Details of such non-monetary benefits are recorded on our Alternative Remuneration Register, which is available to you on request.
Referral Fees and Commissions
In some situations we could receive fees or commissions where we refer you to external parties and pay fees or commissions to external parties who have referred you to us. We will disclose the referral arrangements to you when we provide you with an SoA. No such arrangements currently exist however and are unlikely to in the future.
Conflicts of Interest
- Your financial adviser may provide advice on investments which they hold or may hold in their own personal portfolios. We will disclose the size and nature of these holdings where there may be a conflict of interest with the advice that we provide.
What information does my Adviser maintain on file?
Your Adviser maintains a record of your personal profile, including details of your objectives, financial situation and needs, as well as records of recommendations made to you and transactions completed.
Who should I approach if I have a complaint about the service/s I receive?
If you have any complaints about the services provided to you, you should take the following steps:
- Initially, contact Jodie about your complaint. She will try to resolve your complaint quickly and fairly.
- If your complaint is not satisfactorily resolved you may choose to direct your complaint to:
Australian Financial Complaints Authority(AFCA)
1800 931 678
AFCA is an external dispute resolution service that provides free advice and assistance to consumers and investors to help resolve complaints relating to the financial services industry.