Our Financial Services Guide (FSG) Version 14, 10th December 2018
LET US GUIDE YOU
The purpose of this Financial Services Guide (FSG) is to help you make an informed decision about the services we offer and whether they are appropriate to meet your needs. This FSG provides you with important information on how to engage with one of our Advisers.
This FSG covers the following:
Information about NICA Group Pty Ltd as a licensee
Details on how you may instruct your Adviser
Who will be responsible for providing the financial services
Details of the financial services and/or products NICA Group can provide
The documents you may receive
Remuneration received by your Adviser
Other forms of remuneration or benefits
Privacy (i.e. collection and handling of your personal information)
The complaints procedure
Compensation arrangements in place
Please take the time to review this document before engaging our services.
Throughout this FSG, NICA Group Pty Ltd ACN 145 861 132, ATF The Englezos Trust, ABN 40 439 274 113 is referred to as “we”, “us”, “our” or any variations.
The term “Adviser” refers to NICA Group’s authorised representatives.
NICA Group Pty Ltd ACN 145 861 132 ATF The Englezos Trust ABN 40 439 274 113 is an Australian Financial Services Licensee # 511086
Who we are and what we stand for
Warringal Financial Services commenced in 1994 by the amalgamation of two (2) smaller financial planning practices that were established originally in 1978, and have now grown to a large and successful wealth management advisory firm with 8 staff supporting clients needs.
We provide a complete service that can be tailored to cater to your specific requirements and are supported by a wide network of technical and financial specialists including respected industry experts, accountants, and solicitors.
At Warringal Financial Services we ask thought provoking questions, taking the time to listen closely to your answers, so that we can clearly understand what is really important to you.
The Financial Services we offer are provided by NICA Group Pty Ltd AFSL # 511086 trading as Warringal Financial Services, and NICA Group is also an Authorised Representative (AR) No 404917
The following financial advisers are authorised to provide the financial services to you as outlined in the ‘What we can provide & advise' section of this FSG
Chris Yena - CFP®
Authorised Representative No 404918
Catherine Corr – FChFP®
Authorised Representative No 329890
Jeremy Morrison – CFP® BCom Grad Dip (FP)
Authorised Representative No 419978
Rebecca Poynton - BCom Grad Dip (FP)
Authorised Representative No 1265663
Your Adviser provides financial advice and services on behalf of NICA Group and accordingly we are responsible for the financial advice and services they provide.
Our Advisers are committed to providing quality financial advice and a wide choice of products and/or services to suit individual client circumstances.
Your Adviser is obliged by law to act in your best interests and provide appropriate advice, when providing financial advice to you.
As part of our commitment to you, NICA Group advisers adhere to the Codes of Ethics/Conduct of the Financial Planning Association of Australia (FPA)
Prior to providing any personalised financial advice products and/or services our Advisers are required to provide you with a copy of this FSG
What we can provide
NICA Group is licensed to provide financial product advice on the following services:
Wealth creation strategies
Life insurance advice
Debt reduction strategies
Cash flow management
Aged care strategies
Estate planning strategies
Tax (financial) advice
We can advise in the following products:
Basic deposit products
Debentures, stocks and bonds
Life insurance (personal and business)
Investor Directed Portfolio Services (IDPS)
Retirement Savings Accounts (RSA)
Standard margin lending
NICA Group maintains an Approved Product List (APL). Subject to attaining required accreditation, your Adviser is able to recommend any product on the NICA Group’s APL.
There may be instances where your Adviser will need to consider products outside of the APL. In these cases, your adviser may apply to NICA Group’s Research Department to obtain a one-off product approval.
Documents you may receive
If you decide to obtain personal financial advice, your Adviser will need to determine your needs, objectives and relevant financial circumstances.
At the initial advice appointment, your Adviser will typically gather the relevant information by using a client data collection form. You will be asked to provide accurate information about your personal and financial situation and keep your Adviser informed of any changes to your relevant circumstances.
Your Adviser will also need to verify your identity.
When your Adviser provides personal financial advice to you, you may receive one or more of the following documents:
Terms of Engagement
Statement of Advice (SoA)
Record of Advice (RoA)
Product Disclosure Statement (PDS)
Fee Disclosure Statement (FDS)
The SoA will set out the advice that has been tailored to your specific circumstances and provide you with details of all relevant disclosures including details of any remuneration payable.
Where you receive ongoing or further advice a RoA may be provided.
A PDS will be provided if a product recommendation is made and includes detailed information on the financial product including features, benefits, conditions, costs and cooling off rights (if applicable).
An FDS will be issued to you in instances where you enter into an Ongoing Fee Arrangement with your Adviser for a period greater than 12 months. The FDS will contain information about the services you were entitled to receive, the services you actually received and the fees you paid during the period. The FDS will be provided to you annually.
Should you commence an ongoing fee arrangement for the first time after 1 July 2013 (or in circumstances where the ongoing fee arrangement is significantly varied after 1 July 2013), your Adviser will also issue a Renewal Notice every 2 years. The Renewal Notice will give you the option of renewing the ongoing fee arrangement.
You may request in writing a copy of any advice document up to seven (7) years after the advice has been given.
How to give instructions
Your Adviser may accept your instructions by phone, letter, email or fax. In some instances, your Adviser can only accept written instructions from you and they will let you know when this occurs.
Your Adviser is required to maintain physical or electronic records of documentation for any financial advice given to you, including information that personally identifies you and/or contains information about you.
These records are required to be retained for at least seven (7) years. If you want to access your personal information at any time, please let us know.
You have the right to not to provide personal information to your Adviser. However, in this case, your Adviser will warn you about the possible consequences and how this may impact on the quality of the advice provided. Additionally, your Adviser may also decline to provide advice if they feel they have insufficient information to proceed.
Throughout the advice process, your personal information may be disclosed to other services providers. These may include:
Financial product providers
Financial planning software providers
Administration and paraplanning service providers
IT service providers
NICA Group may engage third party service providers to assist in the provision of products or services.
The purpose of such disclosure is to facilitate the provision of financial services including the preparation of financial advice documents for NICA Group Advisers.
All reasonable steps will be taken to ensure that offshore service providers comply with the Privacy Act 1988.
The cost of providing a financial product or service to you will depend on the nature and complexity of the advice, financial product and/or service provided. Generally, whenever your Adviser provides a recommendation for a financial product or service, your Adviser may be remunerated through either:
An initial fee for service; or
An ongoing fee for service; or
A contribution fee or implementation fee; or
Commission payments from product providers where applicable; or
A combination of any of the above.
Details of the ranges and amounts of remuneration are set out below. Amounts are inclusive of GST.
Type of Remuneration
Initial Consultation Fee
included in initial ASF
included in ongoing ASF
Adviser Service Fee (ASF)
from $5,000 to $20,000
SoA Preparation Fee
0% to 88%
0% to 22%
^based on a % of the premium
Prior to preparing any advice or providing financial services to you, we will discuss and agree upon all fees that will apply.
All fees or commissions are paid to NICA Group.
NICA Group as the Licensee # 511086 receives a flat fee for the provision of services required under its Australian Financial Services Licence.
For existing clients already in an established commission arrangement, we may receive commission on investment products or margin lending products held.
For investment products the relevant product issuer will pay initial commission between 0% and 5.5% and ongoing commission between 0% and 0.88% of the value of your investments for as long as you hold the product.
For margin loans the relevant product issuer will pay an ongoing commission between 0% and 0.88% of the outstanding loan balance. Commissions are paid to us by the product provider and are not an additional cost to you.
Referrals from a third party
At present we do not have any referral arrangement in place to pay a third party referrer a referral fee, commission or other benefit. If this changes, we will make you aware of this prior to providing advice, or further advice, to you.
Referrals to a third party
We have referral arrangements in place with third party providers. If we refer you to one of these providers we may receive a payment, fee, commission or other benefit from those providers.
Details of these arrangements are set out in the table below and specific details of any referral payments we may receive will be provided in our advice documents to you. Alternatively, you can request further details about our referral arrangements prior to us providing you with financial advice.
Details of referral arrangements in place:
Name of referral partner
Payment we will receive for referral
Clark Finance Group
20% of the initial commission received by
20% of the annual commission
received by Clark FG
If you established a loan for $500,000 we would receive up to $650
upfront and up to $12.50 per annum thereafter.
Performance Property Group
Accountants - various
Please note that Warringal Financial Services is not responsible for the advice and services provided by these providers.
Corporate Superannuation Fund - Trustee Arrangements
Where we assist you in relation to a corporate superannuation fund we may receive a payment from the fund Trustee or Administrator, for services we provide to the employer sponsor and/or members within participating corporate super funds. The payment is based on the number of members within the relevant corporate plan.
Where these arrangements are in place, there are some restrictions on the type of advice we can provide you and in some cases we may be unable to provide you advice as to whether to join or consolidate your super into the fund. Where we can provide you with advice we will provide further information about the limitations and any potential Trustee payments in our Statement of Advice.
Other forms of remuneration or benefits
NICA Group and/or its Advisers may receive non-monetary benefits where:
The amount is less than $300 and identical or similar benefits are not given on a frequent basis;
The benefit has a genuine education or training purpose (including attendance to conferences) and is relevant to providing financial product advice; and/or
The benefit consists of the provision of information technology software or support and is related to the provision of financial product advice in relation to the financial products issued or sold by the benefit provider
Payments or benefits received are disclosed in a register. A copy of the register is available upon request.
Neither your Adviser nor the Licensee have any association or relationship with the issuers of financial products that might reasonably be expected to be capable of influencing them in the provision of financial services.
NICA Group and its related companies may receive payments or benefits from product providers in return for granting rights such as being recognised as a sponsor and the right to promote their product and give presentations at conferences and/or professional development training days.
NICA Group may use these payments to pay for costs associated with such conferences, training or professional development days.
NICA Group does not receive any rebates, overrides or volume bonuses directly from any product provider.
NICA Group maintains a group policy which includes appropriate Professional Indemnity Insurance cover for NICA Group as required by the Corporations Act 2001.
Reporting your concerns
If you have a complaint about any financial service provided to you by your Adviser, you should take the following steps:
Contact the Claims team at NICA Group to discuss your complaint.
Mail Claims Manager
Suite 2, 17 Burgundy Street
Heidelberg Vic 3084
We will acknowledge receipt of a complaint immediately, however, where this is not possible, acknowledgement will be made as soon as practicable.
We will then investigate the complaint and respond to you within 45 days. Some complex matters may require an extension to thoroughly investigate the complaint and bring it to resolution.
If you are not fully satisfied with our response, you have the right to lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.
The contact details for AFCA are:
Phone 1800 931 678 (free call)
Mail GPO Box 3
Melbourne VIC 3001
Furthermore, the Australian Securities and Investments Commission (ASIC) has a free of charge infoline on 1300 300 630, which you may use to obtain information about your rights and to make a complaint.
Suite 2, 17 Burgundy Street
Heidelberg Vic 3084
Telephone: (03) 9459 2966
Facsimiie: (03) 9459 0457
For more information:
Please visit moneysmart.gov.au for more information on financial advice.