Financial Services Guide
Overview
About this Guide: Issue Date 8 April 2024
This Financial Services Guide (FSG) is issued by NobleOak Services Limited ABN 66 112 981 718 AFSL 286798(NobleOak Services, we or our)and includes important information about our digital and traditional wealth advisory service known as ‘Wealth Maximiser’ (Wealth Maximiser). This FSG is intended to help you decide whether to use Wealth Maximiser and sets out important information about the remuneration paid to NobleOak Services and our authorised representatives. It also includes details of our internal and external complaints handling procedures and how these are made available to you.
Your Wealth Coach has been appointed as an authorised representative of NobleOak Services to provide financial product advice on NobleOak Services’ behalf (Authorised Representative). Your Wealth Coach’s profile and contact details are set out in the Wealth Coach Profile section of this FSG (on the final page).
If you sign up to Wealth Maximiser and are provided with personal financial product advice by your Wealth Coach, the Wealth Coach will generally set out their advice in a Statement of Advice (SoA) (or in some cases, a shorter document called a Record of Advice (RoA)). The SoA will also tell you how we, our Authorised Representatives (and any other relevant persons) are remunerated for the advice given to you. When you are provided further advice, we may not give you a SoA, however the Wealth Coach will record the advice and you can ask for a copy of the advice by requesting it from them within 7 years from the date the advice was provided. Please refer to the contact details set out in the Wealth Coach Profile.
The SoA issued to you will also include details in relation to the following:
– Details of our advice and specific steps you need to take to follow it
– Our Wealth Philosophy that guides our recommendations
– Alternative Strategies that are considered
Wealth Maximiser does not include specific product recommendations and therefore we will not send Product Disclosure Statements (PDS) or Target Market Determinations (TMD) to our clients.
Who is providing the financial services to you?
Your Wealth Coach has been appointed by NobleOak Services as its Authorised Representative to provide financial product advice to you on its behalf. Your Wealth Coach is authorised to provide advice services to you under NobleOak Services’ AFSL. NobleOak Services acts at all times on its own behalf and not as a representative of any other organisation.
NobleOak Services is a wholly owned subsidiary of NobleOak Life Ltd ABN 85 087 648 708 AFSL 247302 (NobleOak). This FSG does not relate to any financial services provided by NobleOak Life Limited.
What financial services are available to you?
NobleOak Services is authorised under its AFSL to provide financial product advice and deal in certain financial products including certain life, deposit, government debentures, managed investment, retirement savings accounts, securities and superannuation products.
Your Wealth Coach may only be authorised to provide financial advice in some of the above areas. Please refer to the Wealth Coach Profile section which sets out those areas your Wealth Coach is authorised to provide you with advice and recommendations.
Your Wealth Coach must declare whether they are a registered (tax) adviser and the tax (financial) advice service they are authorised to provide.
Payment for the services we provide
NobleOak Services generates revenue through the fees that are paid to access it. These fees may be paid by a range of customers and entities, for example:
Paid directly by a customer (e.g. through our website on either an annual or monthly subscription basis);
Paid on behalf of customers by a different company, for example an employer may pay for access for its employees as a benefit to them;
Partially paid by a distributer or association, for example as a membership benefit for its customers.
None of these fees are dependent on the recommendations that are made by Wealth Maximiser and do not influence its recommendations.
Our fees are clearly disclosed during the sign up process, and for any additional products or options that are chosen at a later date. Your subscription can be cancelled at any time.
NobleOak provides Life Insurance products through advisers and direct to consumers. NobleOak earns profit through the fees that are paid to access Wealth Maximiser, not on the recommendations. Wealth Maximiser does not recommend NobleOak Life insurance products, nor does it make any specific product recommendations.
As such, neither NobleOak Services nor NobleOak earn any fees or commissions that are referrable to the number or value of any products purchased. At a future date, NobleOak Services may offer such products or provide affiliate links to trusted partners. Should this occur, this FSG and the SoA will be updated accordingly.
Wealth Coach remuneration
Your Wealth Coach is paid at an hourly rate as agreed between NobleOak Services and the Wealth Coach from time to time and does not operate on a commission basis.
What commissions/bonuses do our staff receive?
Our staff do not receive any commissions, bonuses or other benefits for the personal advice provided as a result of customers utilising Wealth Maximiser. Our staff receive a salary (including superannuation).
Our Wealth Coaches may operate their own businesses separate to Wealth Maximiser. Where any of our Wealth Coaches receive separate compensation or renumeration for work with organisations referenced in our material, we will disclose this.
NobleOak Services employees or may also receive non-monetary benefits such as study assistance, travel and attendance expenses paid for at business related conferences and other functions or gift vouchers.
Compensation Arrangements
NobleOak holds professional indemnity (PI) insurance cover in respect of the financial services provided by NobleOak Services. The insurance, subject to its terms and conditions, covers relevant activities of our representatives and meets the requirements of section 912B of the Corporations Act 2001 (Cth).
The financial services that NobleOak Services provide are covered by this professional indemnity insurance policy. The insurance policy is subject to its terms and conditions and covers the activities of our representatives and Authorised Representatives.
Privacy
The security of your personal information is important to NobleOak Services. Your information will be collected and handled in accordance with our privacy policy, which complies with the requirements of Australian privacy legislation. For more information, please refer to our website https://www.nobleoak.com.au/privacy-policy/.
How to lodge a complaint with us
NobleOak Services is committed to handling any complaints promptly and fairly. If you have a complaint about the personal advice provided by or on behalf of NobleOak Services, you can contact us on 1300 041 494. If we are unable to resolve your complaint within the 30-day maximum period, we will inform you of the reasons for the delay and let you know when we expect to provide a response to your complaint.
If you are unhappy with the handling of your complaint, or the resolution of your complaint you can escalate your complaint to The Australian Financial Complaints Authority (AFCA.). AFCA is a fair and independent dispute resolution body established by the Government to help resolve financial complaints, and is free to consumers.
You can contact AFCA:
On their website: www.afca.org.au
By email: [email protected]
By phone: 1800 931 678 (free call)
In writing to: Australian Financial Complaints Authority, GPO Box 3, MELBOURNE VIC 3001
Do you need assistance to make a complaint?
If you are deaf or have a hearing or speech impairment you may like to use the National Relay Service.
Voice Relay: 1300 555 727
TTY: 133 677
SMS Relay: 0423 677 767
If you require assistance with translation and Interpreting ‘Translation and Interpretation Services’ provides interpreting services to people who do not speak English and to agencies and businesses that need to communicate with their non-English speaking clients. Translation and Interpretation Services’ can be contacted on 1300 000 795.
How to contact us
Phone: 1300 249 084
Mail: GPO Box 4793, Sydney, NSW, 2001
Email: [email protected]