Date of issue: 1 April 2024

 

About this guide

This Financial Services Guide (FSG) explains the financial services provided by Anova Advice Group and your adviser (who is authorised through Anova Advice Group). The purpose of this FSG is to help you make a fully informed decision about whether you want to use our services.

Please take the time to read this guide carefully. Sound financial advice is based on open communication. Understanding our services and our fees is the cornerstone of this communication. It’s also important that you know who authorises your adviser, the nature of their associations and relationships and what to do if you have a complaint. If you have further questions, or if there is anything that isn’t clear, please talk to your adviser or contact us.

Anova Advice Group is ultimately responsible for the advice you receive and approves the distribution of this FSG.

This guide must be accompanied by an Adviser Profile which outlines your adviser’s skills, qualifications and the services they are authorised to provide.

Not independent

Anova Advice Group is not owned by any bank, product provider or insurance Company. However, Anova Advice Group and its Corporate Authorised Representatives  may receive commissions on life insurance products as explained in this FSG under the heading ‘How we are paid’. For these  reasons, we do not refer to ourselves or our advice as independent, impartial or unbiased.

Anova Advice Group advisers offer professional financial advice to make a meaningful difference in client’s lives, help them achieve peace of mind and future financial security.

 

About us

Anova Advice Group was established in 2022 to support like minded practices in the delivery of quality advice outcomes to Australian Consumers.

Each Anova Advice Group practice is locally owned, employing highly qualified financial advisers who have a legal obligation and an ethical duty to act with integrity and in the best interests of their clients. Your adviser is either a self-employed practice owner or employed by the practice as an adviser.

Anova Advice Group Pty Ltd

ABN 40 653 741 247 | AFSL 537916

Address:     Level 5, 128 Bundall Road, Bundall QLD 4217

Phone:       (07) 5655 1099

Email:         info@anovaadvice group.com.au

Website:    www.anovaadvicegroup.com.au

 

Products and services we provide

Our network of advisers provide a range of financial services including wealth creation, investing, gearing strategies, superannuation, Self-managed superannuation advice, retirement planning strategies, insurance, aged care advice and estate planning. Specific information about the services your adviser is authorised to provide and their qualifications are contained in the attached Adviser Profile.

We are licensed to provide financial product advice and deal in some or all of the following financial products:

 

Important documents you can expect to receive

When your adviser provides personal financial advice for the first time, you will generally be given a Statement of Advice (SoA). The SoA sets out your personal advice, the basis on which it is given, the cost of the advice, and information about any associations or relationships that could influence the advice.

If you require further advice at a later time, providing your circumstances have not changed significantly since your previous SoA, your adviser may be able to provide the further advice verbally or via a shorter Record of Advice (RoA). If you are given verbal advice, your adviser will document the discussion and a copy of this record can be made available to you on request any time for the next 7 years. If you are given further advice and your circumstances have changed significantly since your previous SoA, you will generally be given another SoA.

To help you make an informed decision about a financial product, you will generally be given a Product Disclosure Statement (PDS) which outlines the product features and costs in detail. In certain circumstances, there is no requirement to provide a PDS (including, for example, where you already have one).

If you ask your adviser to undertake a transaction without receiving advice from that adviser, you may be given a letter confirming your instructions and disclosing any costs payable by you in relation to that transaction.

 

How you can instruct your adviser

You can provide your adviser with instructions in a number of ways.

Your Adviser may accept your instructions by phone, letter or email. In some instances, your Adviser can only accept written instructions from you, and they will let you know when this is required. Your Adviser will also need to verify your identity prior to acting on instructions.

 

Our Approved Products List

Only products and services that have been examined by Anova Advice Group’s experienced investment committee are placed on our Approved Products List (APL). Products and services on the APL include those offered, managed or administered by our related companies, including Priority Claims Management and Priority Centrelink Assist.

Your adviser will first source from the APL before providing any recommendations. This means any product or service your adviser recommends has been thoroughly researched. They will only recommend a product or service after considering its appropriateness in relation to your individual objectives, financial situation, needs and best interests. Where your strategy requires products and services other than those on the APL to act in your best interests, the investment committee and our asset consultants will be consulted,  and we will seek to find an alternative solution.

 

Important relationships and other benefits

In addition to the related companies listed above (under the heading ‘Our Approved Products List’) you should also be aware of the following relationships and benefits that we may receive. Any payments noted below are not an additional cost to you and will only be made to the extent permitted by law. Any other arrangements you need to be aware of will be set out in the Adviser Profile attached to this document. Arrangements that are relevant to the advice being provided to you will also be disclosed in your written advice.

Anova Advice Group has a relationship with Netwealth for the Anova SMA model portfolios available on Netwealth’s platform. Anova Advice Group manages the asset allocations on these model portfolios. 

 

Product and service provider benefits

Anova Advice Group may receive sponsorship payments from product and service providers to fund technical and professional development training for our advisers. Our practice owners or advisers may also apply for and may qualify to receive commercial terms on a range of banking products and services such as interest rates and limited recourse terms.

Referral partners

Your adviser may have referral relationships with third parties. These third parties may include accountants, mortgage brokers, general insurance brokers, solicitors, real estate agents and other third parties who specialise in a specific field.

If you are referred to your adviser by one of these third parties, that third party may receive a referral fee, commission, or non-monetary benefit. These referral fees can vary and may be up to 30% of revenue received by your adviser’s practice or an equivalent or lesser value non-monetary benefit. Advisers can change their referral relationships over time and, as such, the referral fee ranges may also vary over time. Where you are referred to a third party (including to other financial advisers) by your adviser, your adviser does not receive any payment for that referral. We also do not approve or endorse their advice. You must assess the merits of their advice in the light of your own circumstances and objectives.

Associated businesses

Your adviser may have associations with other related businesses, such as an accountancy firm.

Other payments

We keep a full register of any benefits received by advisers of between $100 and $300. By law, your adviser is not permitted to receive benefits in excess of $300 per year from a product issuer. In addition, Anova Advice Group keeps a register of any other non-monetary benefits your adviser may receive in relation to education, training, technology support or software that is relevant to the provision of financial advice. If you would like a copy of either register, please ask your adviser and one will be made available to you.

 

How we are paid

We receive remuneration from:

• Advice and service fees paid by you (fee for service)
• Commissions from insurance providers
• Other payments and benefits as outlined above under the heading ‘Important relationships and other benefits’.

As the licensee, Anova Advice Group collects all fees and commissions which are paid on to your adviser’s practice. The Adviser Profile explains how your adviser is paid.

Your financial adviser may hold shares in Anova Advice Group and as such, they may be entitled to receive dividends. 

Licensee Remuneration

Anova Advice Group receives a licensee fee from your adviser’s practice of up to $220,000 per annum to meet its fixed and variable costs as well as meeting its fiduciary obligations as an Australian Financial Services Licensee. This includes Professional Indemnity insurance.

Advice and service fees paid by you

Before providing personal advice, your adviser will agree the fees and payment options with you. These fees will be based on your individual circumstances, the complexity of your situation and the time it takes to prepare your personal financial advice. Fees and commissions that are relevant to the advice being provided will also be disclosed in the written advice provided to you.

The types of fees you may be asked to pay can include:

• Statement of Advice (SoA) fee – a fee to gather information, analyse your situation and prepare your
• Implementation fee – a fee to implement the recommendations contained in your
• Review service fee – a fee for the provision of review services if you enter into a service agreement with your adviser.
• SMSF Service Fee – a monthly fee for reporting, administration assistance and liaising with accountants regarding your SMSF 

Your adviser may also charge other fees for the ad hoc provision of advice or services, including if you instruct your adviser to complete a transaction on your behalf such as buying or selling specific financial products.

Commissions from insurance providers

Insurance providers may pay us commissions if your adviser recommends insurance products to you. Commissions are based on a percentage of your insurance premium. On all commission arrangements where the commission in the first year is greater than that payable in later years, the maximum upfront (year 1) commission is 66% and the maximum ongoing (years 2+) commission is 22% (inclusive of GST). Where upfront and ongoing commissions are the same (e.g. level commission structure), there is no legislated maximum however product providers generally pay up to 33%.

For insurance products purchased prior to 1 January 2018, we may continue to be paid commissions in the same manner as what would have previously been advised to you at the time of obtaining the product(s).

 

If you have a complaint

If you have a complaint about financial services provided to you, your complaint can be directed to your adviser in the first instance. You can also raise your complaint at any time by contacting us at:

Email:                    info@anovaadvicegroup.com.au

In writing to:          Anova Advice Group Complaints

PO Box 6147 GCMC QLD 9726

Phone:                  (07) 5655 1099

 

We will investigate and endeavour to resolve your complaint promptly and fairly. If your complaint has not been resolved to your satisfaction within 30 days, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).

AFCA is an external dispute resolution scheme which provides fair and independent financial services complaint resolution that is free to consumers. AFCA’s contact details are:

Email:                    info@afca.org.au

Website:               www.afca.org.au

In writing to: Australian Financial Complaints Authority GPO Box 3, Melbourne VIC 3001

Phone:                  1800 931 678

 

The Australian Securities and Investment Commission (ASIC) has an information line 1300 300 630 which you may use to obtain information about your rights, and to make a complaint. For more information, please visit their website www.asic.gov.au

Professional indemnity insurance

Anova Advice Group is covered by professional indemnity insurance satisfying the requirements under the Corporations Act (s912B) for compensation arrangements. Our insurance arrangements cover claims made against us as the licensee and both our current and former authorised representatives.

 

Our privacy policy

Anova Advice Group collects your personal information in order for one of its authorised representatives (that is, your adviser and/or the practice where he/she works) to provide you with financial products and services. In order to undertake the management and administration of products and services, it may be necessary for us to disclose your personal information to certain third parties.

We and your adviser will collect and use information about you during the course of your relationship with each of us.

It is important that the information we hold about you is up to date. You must let your adviser know when information you have provided has changed.

Collection, use and disclosure of information

We may use and disclose your personal information (including health and other sensitive information) for the following purposes:

• to assist in providing you with products and services;
• to consider your request for a product or service;
• to enable Anova Advice Group to provide you with a product or service that was recommended to you by your adviser;
• to tell you about other products or services that may be of interest to you;
• to assist in arrangements with other organisations (for example product issuers) in relation to the promotion or provision of a product or service;
• to manage the relationship between you and your adviser and any accounts or policies which you hold, and perform other administrative and operational tasks (including but not limited to risk management, systems development and testing, credit scoring, staff training and market, customer satisfaction, investment research and to undertake analytics activities)
• to consider any concerns or complaints you raise against Anova Advice Group and/or your adviser and to manage any legal action involving Anova Advice Group;
• to identify, prevent or investigate any fraud, unlawful activity or misconduct (or suspected fraud, unlawful activity or misconduct);
• to identify you or establish your tax status under any Australian or foreign legislation, regulation or treaty or pursuant to an agreement with any tax authority; or
• as required by relevant laws, regulations and codes of

We may disclose your personal information (including health and other sensitive information) to another licensee in order to enable you to continue to receive financial products and services in the following circumstances:

• where your adviser dies or their arrangements with us terminate;
• where our authorised representative becomes an authorised representative of another licensee; or
• where our authorised representative sells all or part of its business to another

Absence of relevant information

If you do not provide some or all of the information requested, Anova Advice Group may be unable to provide you with products or services.

Information required by law

We may be required by relevant laws to collect certain information from you. Details of laws that require us to collect information about individuals (personal information) and why these laws require us to collect personal information are contained in the Privacy Policy which can be found at www.anovaadvicegroup.com.au

Providing your information to others

We may provide your personal information (including health and other sensitive information) to:

• an authorised representative of ours (including your adviser) for the purposes outlined in this document;
• any agent, contractor or service provider of Anova Advice Group or its authorised representative, engaged to carry out or assist with its functions and activities (for example, office support or paraplanning services, IT support providers, data analytics and mailing houses);
• an organisation that assists Anova Advice Group to identify, prevent or investigate fraud, unlawful activity or misconduct;
• regulatory bodies, government agencies, law enforcement bodies and courts;
• other parties Anova Advice Group is authorised or required by law or court/tribunal order to disclose information to;
• any person who introduces you to Anova Advice Group for example, if your accountant referred you to Anova Advice Group and we had to provide them with your personal information as part of providing advice to you.
• your referee(s);
• your employer, for example, if we were working with your employer to help maxims contributions to superannuation.
• your partner or spouse where they have sought advice jointly with you; or
• your authorised agents; your executor, administrator or trustee in bankruptcy; your legal representative; your attorney; or anyone else acting for

Where your adviser discloses your personal information to recipients which are (1) located outside Australia and/or (2) either not established in or do not carry on business in Australia, he/she will inform you of those countries in the Adviser Profile.

Marketing and Privacy

We may use your personal information to send you information about our financial products and services from time to time.

We may also disclose your personal information to our related companies or organisations in an arrangement or alliance with us to share information for marketing purposes. This is to enable them to tell you about a product or service offered by them or a third party with whom they have an arrangement.

If you do not want us to use and disclose your information as set out above, please contact us on

(07) 5655 1099 to withdraw your consent.

Privacy Policy

The Privacy Policy is available at www.anovaadvicegroup.com.au and contains information about:

• the circumstances in which we or one of our related entities may collect personal information from other sources (including from a third party);
• how to access personal information and seek correction of personal information; and
• how you can raise concerns that we or one of our related entities has breached the Privacy Act or an applicable code and how we or our related entity will deal with those

Personal information you provide about someone else

If you give us personal information (including health and other sensitive information) about someone else, please show them a copy of this notice and direct them to the Privacy Policy available at www.anovaadvicegroup.com.au so that they may understand the manner in which their personal information may be used or disclosed in connection with your dealings with us.

 

Want more information?

If you have any questions about the information in this guide or about our services, talk to your adviser or contact Anova Advice Group directly.

Phone:       (07) 5655 1099

Email:         info@anovaadvicegroup.com.au

Website:    www.anovaadvicegroup.com.au