FSG

We are unable to call ourselves independent. The law prevents most advisers from using such words as independent, unbiased, or impartial. If, for example, an adviser gets paid a commission to help a client arrange insurance or work within a functional restriction such as an Approved Product List, they are prohibited from calling themselves independent. Most advisers who receive insurance commissions charge their clients little (if anything) for the advice and service. Advisers within The Licensee receive these commissions. So, although we always put your interests before ours when giving advice we cannot (by law) call ourselves independent, unbiased, or impartial.

This FSG is issued by:
Millennium 3 Financial Services Pty Ltd (AFSL 244252 ABN 61 094 529 987) “The Licensee” which is a wholly owned subsidiary of WT Financial Group Limited (ACN 169 037 058)
Head Office Level 5, 95 Pitt St, Sydney NSW 2000
02 9248 0422
info@wtfglimited.com
www.millennium3.com.au

This Financial Services Guide (FSG) explains the financial services provided by Millennium3 and your adviser (who is authorised through Millennium3). It is designed 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. This guide must be accompanied by an Adviser Profile which outlines your adviser’s skills, qualifications, and the services they are authorised to provide.

Millennium3 is one of Australia’s largest financial planning groups with origins tracing back over 30 years. Millennium3 has an extensive network of qualified financial advisers across Australia, with head offices located in Sydney, Melbourne, and Perth. Each Millennium3 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.

Our network of advisers provide a range of financial services including investing, superannuation, retirement and insurance. Specific information about the services your adviser is authorised to provide and their qualifications are contained in the attached Adviser Profile.

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. 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.

You should 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.

Millennium3 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.

Product providers may pay advisory fees to Millennium3 or an investment management entity associated with Millennium3. This fee is for the provision of portfolio management advisory services where Millennium3 model portfolios are utilised via managed accounts or separately managed accounts. In the event of this occurring, the fee is calculated as a percentage, likely to be up to 0.15% of the managed account or separately managed account portfolio balance. Your adviser will not receive any of this fee.

We keep a full register of any benefits received by advisers of between $100 to $300. By law, your adviser is not permitted to receive benefits in excess of $300 per year from a product issuer. In addition, Millennium3 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.

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

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.

Related companies of Millennium3 may receive fees for acting as the distributor of financial products which your adviser may recommend. Any fee is paid by the product issuer or administrator of the product out of its own funds. Neither your adviser nor Millennium3 receive any of these fees.

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. Any referral arrangements you need to be aware of and specific details of any referral payments we may receive will be set out in the ‘Important relationships’ section of the Adviser Profile attached to this document. Referral arrangements that are relevant to any advice being provided to you will also be disclosed in your written advice. Where you are referred to a third party (including to other financial advisers) by your adviser, neither your adviser nor Millennium3 approve or endorse their advice and won’t be liable for the provision of advice and services provided by the third party. You must assess the merits of their advice in the light of your own circumstances and objectives.

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, Millennium3 collects all fees and commissions which are paid on to your adviser’s practice. The Adviser Profile explains how your adviser is paid. Millennium3 receives a licensee fee from your adviser’s practice of up to $165,000 per annum, which is in part based on remuneration paid to your adviser’s practice.

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 SoA.

• Implementation fee – a fee to implement the recommendations contained in your SoA.

• Review service fee – a fee for the provision of review services if you enter into a service agreement with your adviser.

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.

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: complaints@wtfglimited.com
In writing to: WT Financial Group Advice Dispute Resolution Team Level 5, 95 Pitt St, Sydney, NSW 2000
Phone: 02 9248 0422

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

Millennium3 is covered by professional indemnity insurance satisfying the requirements under the Corporations Act for compensation arrangements. Our insurance arrangements cover claims made against us as the licensee and both our current and former authorised representatives.

We are committed to maintaining the privacy and security of your personal information. Any personal information collected by Millennium3 will be handled in accordance with its Privacy Policy. The way in which your adviser handles your personal information, is outlined in their Adviser Profile.