YourShare Financial Services Pty Ltd - Financial Services Guide

Effective 01/01/2007

This document has been prepared for clients of YourShare Financial Services Pty Ltd ("YourShare") and should be read before using the YourShare services. Within this document is information about the services we offer, who we are, how we are remunerated, how complaints are dealt with and how to contact us.

Who We Are

1.1
YourShare is regulated by ASIC (the Australian Securities and Investments Commission), and in addition to complying with the laws of providing a financial service, also embodies the spirit in which those laws were established. YourShare does not provide financial advice and is committed to transparency in all financial dealings and in all financial products and services.

1.2
YourShare Financial Services Pty Ltd A.C.N. 122 332 503 is an authorized representative of MCA Financial Planners Pty Ltd, 1/6 Clow St, Dandenong, 3175, AFSL: 223610, ABN: 36050195616, Ph: 03 9792 9044.

Our Services

2.1
YourShare is a non-advisory, deal only investment fund and financial product supermarket service.

2.2
The YourShare website, services and membership are free.

2.3
YourShare does not, either directly or indirectly, advise or recommend on financial services or financial products. The information contained on the YourShare website does not take into account the appropriateness of investments for an individuals circumstances, investment objectives, financial situation or the merit of any particular investments. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

2.4
YourShare has the right to withdraw the service, or parts of the service, at any time and at its discretion. By continued use of this service you will be bound by any further or revised Financial Services Guide published from time to time on the website, and the Website Terms and Conditions.

2.5
YourShare does not handle client monies, other than under the YourShare Yearly Cash Back service. Please ensure that all cheques for new investments are made out to the fund or financial product provider, regardless of whether you lodge applications initially to YourShare for checking prior to lodgment with the financial institution or directly with the financial institution.

2.6
YourShare does not perform Anti Money Laundering checks or validations. For new financial products, please ensure you attach all customer identification documents as requested by your selected financial institution or fund managers.

Fees, Commissions And Other Benefits Received By YourShare

3.1
When you purchase a financial product through YourShare, or when you nominate YourShare as your broker on existing financial products, we will rebate 100% of all initial upfront commissions received by YourShare from the financial institutions on most managed funds, superannuation funds and allocated pension funds. This can be up to 5% of the value of your initial investment.

3.2
All ongoing trailing fees and commissions received by YourShare from your financial institutions will automatically participate in the YourShare Yearly Cash Back service for as long as you hold your financial products with YourShare as your broker. These commissions are paid to YourShare by the product issuer and are included in the fees and premiums you pay annually (MER), as set out in the PDS or other disclosure documents provided by the product issuer. These ongoing fees / commissions can be up to 1.2% of the current value of your investments every year.

3.3
Each year you will receive a statement from YourShare outlining the payments received from your financial institutions in relation to your investments and financial products, and a cheque to the value of your share of the Yearly Cash Back service.
Your entry fees and initial commissions will be reduced to 0% from the date YourShare is your nominated broker with your financial institutions. YourShare charges a % of the Trailing Commissions collected on your behalf for administering the Yearly Cash Back Service. The % charged depends on the total amount of the Trailing Commissions collected on your behalf each year across all financial products in your name, where YourShare is your nominated broker. The YourShare charge ranges from 30% to 50% of the total trail collected in a twelve month period. The table below sets out how each members YourShare yearly cash back payment is calculated: 
 

3.4
Below is a description of fees and commissions payable by product type based on your financial products:

     • Managed fund investments
       - Upfront initial commission of up to 6% of the amount invested (100% rebated by YourShare)
       - Ongoing trail commission of up to 1.2% yearly of the value of your investments. Typically the ongoing trail commission is paid by the fund provider to YourShare out of the fund MER.

     • Superannuation and Pensions
       - Upfront initial commission of up to 6% of the amount invested (100% rebated by YourShare)
       - Ongoing trail commission of up to 1.2% yearly of the value of your investments. Typically the ongoing trail commission is paid by the fund provider to YourShare out of the fund MER.

     • Master trust / Wrap accounts and superannuation wrap accounts
       - Upfront initial commission of up to 6% of the amount invested (100% rebated by YourShare)
       - Ongoing commission of up to 1.2% yearly of the value of your Master trust or Wrap account, as set out in the Product Disclosure documents provided by the product administrator. 

     • Insurance Policies 
       - Commission of up to 135% of the premium you pay in year 1, and up to 35% of the premium you pay each subsequent year. All insurance policy commissions received, including year 1 commissions, participate in the YourShare Yearly Cash Back service as trail commissions. 

     • Margin loans & CMT's
       - Typically, no upfront commission is payable.
       - Ongoing trail commission of up to 0.66% yearly of the total loan amount. 
 
     • Agribusiness funds
       - Upfront commission may be to to 10% of the amount invested.
       - Ongoing trail commission may be up to 1.2% yearly of the value of your investments. 
Due to the nature of agribusiness funds, all commissions received, including year 1 commissions, participate in the YourShare Yearly Cash Back service as trail commissions. 

3.5
Fees and commissions vary between financial products. Please read the Product Disclosure Documents (PDS) provided by the financial institutions product administrators carefully for exact details of the fees and commissions related to the financial products you own.

3.6
YourShares strives to provide greater transparency to all consumers on all fees and commissions on financial products and services. To increase transparency we send each client a statement annually outlining all payments received from their financial institutions in relation to their investments and financial products.
 

Associations With Fund Providers And Product Issuers

4.1
There is no relationship between YourShare, or related body corporate(s) and the issuers of any financial products or fund providers to which YourShare provides access to that might reasonably be expected to be capable of influencing YourShare’s provision of financial services to you.

4.2
YourShare itemize for you all payments received from the fund providers as a result of your financial products where YourShare is your nominated broker each year. YourShare are happy to do this adhoc as requested.

Complaints And Dispute Resolution

5.1
Customer satisfaction is a priority at YourShare. If you have a complaint, please contact us directly at YourShare on 1300 554 774, and we will endeavour to resolve your complaint as quickly as possible. We value our customers greatly, and believe that the best type of business is repeat business generated by happy customers and referrals.

5.2
If your complaint is not resolved from contacting us directly, please put your complaint in writing to us at our head office at GPO Box 394, Sydney, NSW, 2001, and mark to the attention of the YourShare Customer Relations dept.

5.3
Lastly if you have not received a response from YourShare within 40days of the date of your written complaint, YourShare as a regulated provider of financial services, also offer the external dispute resolution services of the Financial Industry Complaints Service (FICS), an externally managed complaints resolution scheme, of which YourShare as an authorised representative of MCA Financial Planners Pty Ltd is a member of. You can contact FICS on 1300 780 808.

5.4
Alternatively you can contact the Australian Securities and Investment Commission on its free call Info line on 1300 300 630.

Contact YourShare