Security of investments
With the advent of financial collapses in recent years, it is of paramount importance for clients to feel that salient safeguards are in place for their assets. Whilst the government has implemented some measures, we at Australian Financial Practitioners do not think they have gone far enough. We believe all financial planning practices should adhere to safeguarding client’s assets against misappropriation by subscribing to our measures as follows:
Outsourcing of compliance and auditing functions to an Australian Financial Services Licensee (registered by the Australian Securities and Investments Commission). Furthermore, the Licensee should not be owned or in any way influenced by the client’s practitioner.
Whilst our client’s interest always comes first in everything we do, the compliance function serves to reinforce this commitment.
All unlisted investments are to be held by a custodial service owned by an Australian bank. Listed investments are to be in the name of the client or a custodial service owned by an Australian bank.
While we direct the day-to-day management of client assets, we have no ability to withdraw or use any of the client’s assets. Only the client can do that.
Direct cash management
Cheques for investments are to be made payable directly to an Australian Bank owned custodial service or Australian licensed stock-broker. All withdrawals or payments are to be made directly to the client’s nominated bank account.
No commissions, brokerage or kick-backs are accepted from product providers. However, in circumstances where it is not possible to remove such remuneration structures, the payment less any Licensee fee or taxation is to be fully rebated to the client.
The client’s practitioner will subscribe to the Code of Conduct of the Financial Services Institute of Australasia, which is one of the largest professional associations for financial services practitioners in the region and can trace its origins to the year 1886.
Our philosophy is that in helping people, they will help us to remain in practice. Unlike many other financial planning practices, we want to reward our clients.
When current clients refer family members and friends to Australian Financial Practitioners we would like to not only reward them for showing their support and confidence in our ability but also the person referred to us. To reflect our KISS principle (keep it simple silly), once a client has qualified which is just two referrals, the next and subsequent referrals earn Loyalty rewards.
|Bronze|| 3 plus referrals||5% discount on Financial Advice Fee for new client.|
5% discount on Private Client Service for self.
|Silver||6 plus referrals||7.5% discount on Private Client Service for self.|
5% discount on Financial Advice Fee for new client.
|Gold|| 9 plus referrals||10% discount on Private Client Service for self.|
7.5% discount on the Financial Advice Fee for new client.
|Platinum|| 12 plus referrals||15% discount on Private Client Service for self.|
10% discount on the Financial Advice Fee for new client.
Once a client has reached a Loyalty status, they can keep the reward indefinitely as there are no renewal conditions or no expiry of rewards at Australian Financial Practitioners.