Important Information
Not Independent
Focused Financial Advice Pty Ltd, and your adviser, are not able to describe themselves as being independent, impartial or unbiased because we:
- may receive commissions from insurance product providers which may influence the advice provided;
- may receive fees based on the volume of assets under advice;
- may receive gifts and other non-monetary benefits; and
- have an Approved Product List which influences the range of products our representatives can recommend when providing advice to you.
What is Website Disclosure Information?
This Website Disclosure Information (the “Information”) helps you understand and decide if you wish to use the financial services that we are able to offer you.
In this document, “we,” “us,” or “our” refers to the Licensee, Focused Financial Advice Pty Ltd (“FFA”), and our representatives (including employees or authorised representatives).
This Information sets out the services we provide. It tells you:
- who we are and how we can be contacted;
- what services and products we are authorised to provide to you;
- how we (and any other relevant parties) are paid; and
- how we deal with complaints.
Personal Advice
We may provide personal advice, which considers your individual financial needs, goals, and circumstances. If we give you personal advice, you’ll receive a Statement of Advice (“SOA”). The SOA will clearly outline the advice provided, why we have provided it, details about our fees, charges, and other important information about us.
We can only provide personal advice on certain financial products authorised under our Australian Financial Services License (“AFSL”). These products are listed in the “What services and products are we authorised to provide to you?” section of this Information.
If we provide you with additional personal advice after your initial SOA, we may record this in a Record of Advice (“ROA”) instead of giving you another SOA. You can request a copy of this record at any time within 7 years from when the advice was given by contacting us using the details provided in this Information.
General Advice
Sometimes, we may give you general advice. General advice is a recommendation or opinion provided without considering your personal financial objectives, situation, or needs. If we provide general advice, we will clearly inform you that the advice might not be suitable for your specific circumstances. Additionally, we will provide you with an applicable Product Disclosure Statement (“PDS”) (if one is available), which you should read before making a decision that the product is right for you.
Product Disclosure Statements (PDS)
When a financial product is recommended to you, you will be provided with a PDS issued by the product provider. The PDS contains important information about the product to assist you in making an informed decision, including its features, significant risks, costs, and fees. You should read the PDS carefully before making any decisions about a financial product.
The Licensee has arrangements in place to maintain professional indemnity insurance. This insurance satisfies the requirements under s912B of the Corporations Act 2001 (Cth).
Please retain a copy of this Information for your reference and any future dealings with us. We may also add documents at a later date which will also form part of this Website Disclosure Information, and these should be read together with this Information. These documents will include the words “Website Disclosure Information” in the heading.
Who will be providing the financial services to you?
The Licensee
The Licensee is the authorising licensee for the financial services provided to you and is responsible for those services and is the providing entity. The Licensee authorises, and is also responsible for, the content and distribution of this Information.
The Licensee’s contact details are as follows:
| Licensee name | Focused Financial Advice Pty Ltd |
| ABN | 52 104 882 028 |
| AFSL number | 286219 |
| Office Address | New South Wales: Level 11, 10 Carrington Street, Sydney NSW 2000 Queensland: Suite 7, 9 Frinton Street, |
| Postal Address | PO Box 656, Newcastle NSW 2300 |
| Website | www.focusedfinancial.com.au |
| Phone | (02) 4032 5672 |
| advice@focusedfinancial.com.au |
The Licensee and the Authorised Representatives act on your behalf when we provide financial services to you.
Authorised Representatives
Sean Yeo
| Adviser Profile | Sean Yeo is an Authorised Representative (No. 434072) of Focused Financial Advice Pty Ltd (AFSL 286219). Sean is a qualified tax relevant provider and can provide tax (financial) advice.
Phone: 0478 935 009 Email: sean@focusedfinancial.com.au |
| Education and Qualifications |
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| Experience | Sean joined the finance industry in 2006 and has been working as a financial adviser for more than 10 years. Sean is passionate about simplifying financial ideas into easily understandable concepts for a range of clients. Sean is also a recipient of the AMP Financial Planning WA Rookie of the Year award (2014). |
| Memberships | Financial Advice Association Australia |
Sean Yeo can provide you with advice on the following:
| Strategies | Products |
|
|
Scott O’Donnell
| Adviser Profile | Scott O’Donnell is an Authorised Representative (No. 342739) and Tax (Financial) Adviser of Focused Financial Advice Pty Ltd (AFSL 286219).
Phone: 0432 460 600 Email: scott@focusedfinancial.com.au |
| Education and Qualifications |
|
| Experience | With over 30 years’ experience in the finance industry, including over 16 years’ experience as a qualified financial planner, Scott is dedicated to delivering comprehensive and effective financial guidance to every client. He assists clients in attaining their superannuation objectives to secure a fulfilling retirement, while also safeguarding them against unforeseen events through effective insurance planning and budgeting strategies. Drawing on his extensive expertise, Scott is well-positioned to provide tailored advice across a broad spectrum of financial matters, including investment planning, wealth creation strategies, and estate planning considerations. |
Scott O’Donnell can provide you with advice on the following:
| Strategies | Products |
|
|
Jesse Franks
| Adviser Profile | Jesse Franks is a Provisional Financial Adviser (Provisional Relevant Provider) and Authorised Representative (AR No. 1319245) of Focused Financial Advice Pty Ltd (AFSL 286219). Jesse is currently undertaking his professional year and is being supervised by Mr Sean Yeo and Mr Scott O’Donnell.
Phone: 0483 815 443 Email: jesse@focusedfinancial.com.au |
| Education and Qualifications |
|
| Experience | Jesse has significant experience with AFSL compliance, focusing on maintaining high-quality controls and meeting regulatory standards to deliver dependable results for clients. He collaborates with advisers to improve advice procedures and documentation, always aiming to provide attentive, detail-driven client service that carefully considers potential risks. Jesse now applies this foundation in a client-facing capacity, supporting the advice process from fact-finding and strategy development through to implementation and ongoing review, under the guidance of his supervisor. |
Jesse can provide you with supervised financial advice on the following:
| Strategies | Products |
|
|
What services and products are we authorised to provide to you?
Focused Financial Advice Pty Ltd is licensed to provide financial product advice and deal in the following financial products:
- Basic deposit products, and deposit products other than basic deposit products;
- Debentures, stocks, or bonds, issued, or proposed to be issued, by a government;
- Life products, including investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; and life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;
- Interests in managed investment schemes, including investor directed portfolio services;
- Retirement savings accounts (“RSA”) products (within the meaning of the Retirement Savings Account Act 1997);
- Securities; and
- Superannuation
We are authorised to provide these services and products to both retail and wholesale clients.
There is an important difference between ‘general advice’ and ‘personal advice.’ When we give ‘general advice,’ it does not take your individual goals, financial situation, or needs into account. However, if we provide ‘personal advice,’ we will consider your objectives, financial situation, and needs before making a recommendation.
We will only provide services to you with your prior, informed consent. If you do not understand any of the information in this Website Disclosure Information or have any other questions relating to the terms on which we will be acting, please contact us.
In providing our services, other financial matters may arise. However, we are only authorised to advise you on the financial products and services described above. For help with other matters, please seek advice from an appropriate professional.
What fees and commissions are payable to us?
Fees for providing you with our services are received by Focused Financial Advice Pty Ltd as the Licensee.
Unless otherwise stated, all fees and commissions in this Website Disclosure Information are inclusive of GST.
Service fees
We will discuss and agree our fee structure with you before we provide you with services. The types of fees you can be charged are listed below. You may be charged a combination, or part of, any of these fees.
| Fees for advice | We may charge fees for the preparation, presentation and implementation of our advice. This is generally in the range of a one-off payment of between $1,000 – $5,000 or at an hourly rate of $330. The pricing for the preparation of a Statement of Advice is dependent on the complexity, number of strategies and recommendations to be included.
We will discuss these fees with you and gain your agreement to the fees before we provide you with advice. |
| Ongoing service fees | We may also charge you for the implementation of the recommendations and for the ongoing servicing of your advice. The ongoing service fee can be paid directly by you, or you can authorise us to deduct it from your selected product(s).
The amount depends upon the type of product and is specific to your circumstances. These fees will be outlined in our Terms of Engagement and disclosed to you within the Statement of Advice and the advice will not proceed without your agreement. |
| Commissions | FFA may receive commissions from insurance product providers, if you choose to acquire one of their products based on a recommendation from us. The amount varies depending upon the product, in the range of 0% – 70% of the premium (excluding taxes and statutory charges).
Details of the commission will be outlined to you in your Statement of Advice. The commission is included in the premium quoted to you and therefore not an additional cost. Ongoing commissions may also be payable upon your renewal of the policy, and these will be disclosed to you within the Statement of Advice. |
Focused Financial Advice Pty Ltd, as the licensee and providing entity, receives 100% of any of the above fees or commissions paid by you in exchange for any services provided.
Life insurance commission rates
If the initial commission is higher than the ongoing commissions, the maximum commission that Focused Financial Advice may receive is set out in the table below:
| Date a new product is issued | Initial commission (% of annual policy cost or increase excl. GST) | Ongoing commission p.a. (% of annual policy cost or increase excl. GST) |
| Before 1 January 2018 or before 1 April 2018 when the application was received prior to 1 January 2018 | 0 – 140% | 0 – 38.5% |
| 1 January 2018 – 31 December 2018* | 0 – 80% | 0 – 20% |
| 1 January 2019 – 31 December 2019* | 0 – 70% | 0 – 20% |
| From 1 January 2020* | 0 – 60% | 0 – 20% |
* Focused Financial Advice may receive the pre-1 January 2018 commission rates above from the product issuer if: your policy was issued before 1 January 2018 and you exercise an option or apply for additional cover under your policy after 1 January 2018; or your policy was issued before 1 January 2018 and is replaced after 1 January 2018 to correct an administrative error.
How are we and third parties remunerated?
The Licensee’s directors and employees are remunerated by salary and may also be awarded an annual bonus. Bonuses will depend on several factors, including:
- company performance;
- professionalism and adherence to compliance procedures; and
- team performance.
The Licensee’s shareholders may also receive a benefit based on the Licensee’s ongoing company performance.
Associations and relationships
Focused Financial Advice Pty Ltd (ABN 52 104 882 028) is an Australian private company. Scott O’Donnell is contracted to Focused Financial Advice Pty Ltd and does not currently receive any remuneration from the company. Mr Jesse Franks is a shareholder and director of FFA and is remunerated by salary and may also receive dividends based on company performance.
Employees and representatives of FFA, including Mr Franks and Mr O’Donnell, may receive bonuses from FFA based on both individual and company performance, as well as feedback from our clients.
Referral arrangements
Referrals from a third party
Focused Financial Advice currently maintains business agreements with external referral partners, who may refer a person to us to receive financial advice. These referral partners may receive a commission of up to 100% of the upfront fees paid by any applicable clients that they have referred. Where any commissions are payable to third parties as a result of your referral to us, the amount of the commission will be outlined to you.
Referrals to a third party
At present we do not have any referral arrangement in place to provide referrals to third parties in return for payment or other benefit. If this changes, we will make you aware of this prior to providing advice, or further advice, to you.
You may request more details about the way these people or entities are remunerated within a reasonable time after receiving this document and before any financial services are given to you. If remuneration or other benefits are calculable at the time personal advice is given, it will be disclosed at the time that personal advice is given, or as soon as practicable afterwards. If remuneration is not calculable at that time, a statement of how the remuneration is calculated will be given to you at the time the advice is given, or as soon as practicable afterwards.
By using or continuing to use our services, you agree that:
- All fees and charges received by us as described in this Website Disclosure Information (other than third party fees and charges) are a benefit given to us by you, in exchange for the services provided by us.
- We do not charge asset-based fees where you are investing using borrowed money.
- You understand, consent to, authorise, and direct us to charge you in this way.
What arrangements may influence our advice to you?
The Licensee maintains an Approved Product List (“APL”), which contains a range of financial products from various providers not connected to the Licensee. Advisers are not limited to recommending only products from this list.
Occasionally, we may receive other forms of benefits from product providers or third parties, such as hospitality, training support, or sponsorship to attend professional development events like conferences.
We keep a register of benefits received that have a value between $100 and $300, as well as benefits relating to technology, software support, or educational purposes. You can request a copy of this register for a small fee.
What should you do if you have a complaint?
If you have a complaint, you can contact us and discuss your complaint.
Please contact the Complaints Manager using any of the contact details at the start of this Website Disclosure Information. We will try and resolve your complaint quickly, fairly and within prescribed timeframes.
If the complaint cannot be resolved to your satisfaction within 30 days, you have the right to refer the matter to the Australian Financial Complaints Authority (“AFCA”). AFCA provides fair and independent financial services complaint resolution that is free to consumers.
| Website | www.afca.org.au |
| info@afca.org.au | |
| Telephone | 1800 931 678 (free call) |
| In writing to | Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001 |
Compensation arrangements
We maintain appropriate professional indemnity insurance, as required under section 912B of the Corporations Act. This insurance covers claims made against us and our representatives, including those involving the actions of representatives who no longer work for us but did so at the time the conduct occurred.
Privacy Statement
Focused Financial Advice, its Representatives, and its Authorised Representatives collect your personal information in order 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 collect and verify personal information about you (and where applicable, persons acting on your behalf) to manage our relationship with you, to ensure that we provide the services most appropriate to your needs, and to make certain that we comply with our legal obligations under the Privacy Act 1988 (Cth) and the Corporations Act 2001 (Cth). This Privacy Statement forms part of our Privacy Policy, and together they form our notice for collecting personal information under Australian Privacy Principle 5.
Personal information acquired by us in the course of providing our services may be provided to external service providers, product and platform providers, auditors, taxation and legal advisers and information technology consultants. Otherwise, your personal information will not be disclosed unless Australian law requires us to, or you authorise us to disclose it to a third party on your behalf.
Some of the entities that we share information with may be located in, or have operations in, other countries. This means that your information might be stored or accessed in overseas countries, including but not limited to South Africa, India, Vietnam, Thailand and the Philippines. When we send information overseas, we will take reasonable steps to ensure that overseas providers do not breach the Privacy Act and that any third parties are subject to a similar level of protection offered by the Privacy Act.
For further details, please refer to the full Focused Financial Advice Privacy Policy located at https://www.focusedfinancial.com.au/privacy. Otherwise, if you contact us, we can send you a copy.