FINANCIAL SERVICES GUIDE FOR ARC FINANCIAL SOLUTIONS PTY LTD

This is a guide to our relationship with you and others. 

THE FINANCIAL SERVICES REFERRED TO ON THIS PAGE ARE OFFERED BY: 

Howard Thomas Pitts as Director and Representative of Arc Financial Solutions Pty Ltd, ABN 57 111 997 981 (Registered Office - Suite 102, 12 Waters Road NEUTRAL BAY NSW 2089)

Street: Suite 102, Level 1, 12 Waters Road NEUTRAL BAY NSW 2089

Postal: PO Box 414, SPIT JUNCTION NSW 2088

Arc Financial Solutions Pty Ltd is the holder of an Australian Financial Services Licence (AFSL 319288). It is a private company 100% owned by Mr Howard Pitts. 

This guide contains important information about: 

  • the ownership of Arc Financial Solutions Pty Ltd;

  • the services we offer you;

  • how we and our associates are paid;

  • any potential conflict of interest we may have;

  • our internal and external dispute resolution procedures and how you can access them;

When we give you financial advice - a Statement of Advice - to make sure that advice is appropriate to you we must make reasonable enquiries about your current financial situation and future needs. 
In the Statement of Advice we will tell you about: 

  • Our fees and the manner in which we deal with commissions; and

  • Any associations we have with Financial Product Issuers or other parties which may have influenced the advice we give you.

If we recommend to you a particular Financial Product we will give you information about the particular Financial Product - a Product Disclosure Statement - to help you make an informed decision about the Financial Product. 

If you have any further questions about the financial services Arc Financial Solutions Pty Ltd provides, please contact Howard Pitts on 02 8043 0933 or 0402 339 644. 

Retain a copy of this page for your reference and any future dealings with Arc Financial Solutions Pty Ltd.

The Services We May Offer You

What kinds of financial services are you authorised to provide me and what kinds of Financial Product/s do those services relate to? 

Howard Pitts is authorised by Arc Financial Solutions Pty Ltd to provide financial advice to and deal in Financial Products on behalf of both retail and wholesale clients in; 

  • Deposit and Payment Products – basic and non-basic deposit products

  • Government debentures, stocks or bonds

  • Life Products – including Investment and Life Risk Insurance Products

  • Managed Investment Schemes including Investor Directed Portfolio Services

  • Retirement Savings Accounts

  • Margin Lending

  • Securities and

  • Superannuation, including Self-Managed Super Funds

  • Tax (Financial) Advice

Howard also provides portfolio monitoring services. 

Responsibility for Your Service and Advice

Who is my Adviser?

Your Financial Adviser will be Howard Pitts. He has the following Educational Qualifications and Experience: 

  • Bachelor of Economics – Macquarie University

  • Diploma of Financial Planning – Deakin University

  • Fellow of the Institute of Actuaries in Australia

  • Over 25 years experience advising on Superannuation, insurance and investment issues.

  • Over 15 years Financial Planning experience

Howard is a member of the Institute of Actuaries of Australia as a Fellow and the Independent Financial Advisers Association of Australia. 

Howard is a Representative of Arc Financial Solutions Pty Ltd. 

If you do not wish to receive our advice, we may deal on your behalf by carrying out your instructions. 

If you do not obtain advice, you face the risk that the Financial Product/s you select will not fully take into account your objectives, financial situation or needs.

Who Is Responsible for the financial Services provided?

Arc Financial Solutions Pty Ltd is responsible for the financial services provided including the distribution of this Financial Services Guide (FSG). 

Arc Financial Solutions confirms that, subject to all statutory limitation periods, our insurance arrangements cover work done under our AFSL by our representatives even when they cease to be our representatives.

How can I give you instructions about my Financial Product/s?

You may tell us how you would like to give us instructions. For example in writing, by telephone, fax or other means such as e-mail. 

If we provide you with execution related telephone advice, you may request a record of the execution related telephone advice, at that time or up to 90 days after providing the advice.

WHAT INFORMATION DO YOU NEED TO PROVIDE?

WHAT INFORMATION SHOULD I PROVIDE TO RECEIVE PERSONALISED ADVICE?

You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information, so that we can offer you the most appropriate advice possible.

You have the right not to tell us, if you do not wish to. However, if you do not, the advice you receive may not be appropriate to your needs, objectives and financial situation.

You should read the warnings contained in the Statement of Advice carefully before making any decision relating to a Financial product/s.

PRIVACY POLICY

WHAT INFORMATION DO YOU MAINTAIN IN MY FILE AND CAN I EXAMINE MY FILE?

Arc Financial Solutions holds and uses personal information for the purposes of providing advice to you as a client.

As part of the Financial Planning process, including implementation of recommendations and ongoing review of your circumstances (as may be required by you) your personal information may be transferred or handled by fund managers, insurers, government regulatory bodies, legal and other professional advisers and other business support services.

By completing this Fact Find Questionnaire and/or providing other details to your Financial Planner, you consent to Arc Financial Solutions collecting, holding, using and disclosing your personal information for the above purposes.

You may view your file at any time on request to the Privacy Officer.

FEES AND CHARGES

WHO IS RESPONSIBLE FOR THE FINANCIAL SERVICES PROVIDED?

We will agree a fixed fee with you for our advice and services. This fee will depend upon the scale and complexity of the work required and not related to the amount available for investment or for payment of insurance premiums. Prior to commencement of work, we may ask for your agreement to the fee in writing, and in some cases may ask for a pre-payment of part or the entire fee.

Arc Financial Solutions works on a genuine fee for service basis. The fees specifically payable by you will be specified in a Terms of Engagement letter or a Statement of Advice or both.

Arc Financial Solutions also provides ongoing service packages which will also be agreed with you, and are dependant upon the level of service you elect to receive. You may elect to pay your fees either directly to us after issue of invoice, by direct debit from a bank account or via a deduction of funds from investments placed through Arc Financial Solutions.

It is our policy to not accept commission or brokerage payments of any kind. In the event that any commission is paid for placement of funds in a Financial Product, we will arrange for the rebate of that commission to your account. In circumstances where it is not possible to rebate commissions to your account, we will make the payment to you directly (subject to a minimum payment of $50). Such repayments will be made no later than June of the financial year of receipt. 

Where Financial Product recommendations are made to you, details of the fees and charges for those products will be summarised in the Statement of Advice and contained in detail in the Product Disclosure Statements for most Financial Product issuers provided to you. 

REMUNERATION OF ADVISERS

HOW DOES ARC FINANCIAL SOLUTIONS RECEIVE REMUNERATION? 

All fee income will be paid to Arc Financial Solutions Pty Ltd. Arc Financial Solutions will set aside funds to cover the cost of administration and to meet solvency requirements under our Australian Financial Services Licence. 

All residual income will be used to pay salaries to advisers and administration staff. Annual bonuses may be paid based on the performance of individual advisers and staff.

HOW Do advisers RECEIVE REMUNERATION?

After meeting the cost of administration for Arc Financial Solutions Pty Ltd, Advisers received salary, annual bonus and other emoluments. Howard Pitts will also be entitled to all profits paid by way of dividends.

CONFLICTS OF INTEREST

DO YOU HAVE ANY RELATIONSHIPS OR ASSOCIATIONS WITH FINANCIAL PRODUCT ISSUER?

Arc Financial Solutions Pty Ltd do not have any relationships or associations with any Financial Product issuers. 

WILL ANYONE BE PAID FOR REFERRING ME TO YOU?

No, we do not pay referral fees.

DO YOU ACCEPT SOFT DOLLAR BENEFITS OF ANY KIND?

We will record any “soft” benefits with a value in excess of $300 and may be construed to influence our opinion on any matter on our register of benefits. Soft benefits under $300 may consist of personal entertainment including meals, technical and/or product training sessions, invitations to sporting events or gifts. We retain a register of benefits and you can ask to see the register at any time.

WHAT IF YOU HAVE A COMPLAINT?

If you have any complaints about the service provided to you, you should take the following steps. 

  1. Contact us and tell us about your complaint.

  2. If your complaint is not satisfactorily resolved within 45 days, please contact Mr Howard Pitts on (02) 8043 0933 or put your complaint in writing and send it to us at Arc Financial Solutions postal address, noted at the beginning of this FSG. We will try and resolve your complaint quickly and fairly.

  3. If the complaint can’t be resolved to your satisfaction you have the right to refer the matter to Financial Ombudsman Service.

They can be contacted on 1800 931 678 or you can write to them at:

Australian Financial Complaints Authority
GPO Box 3 (Level 5,31 Queen Street)
MELBOURNE VIC 3001

Website: www.afca.org.au Email: info@afca.org.au

We maintain adequate compensation arrangements (in the form of professional indemnity insurance cover) in place at all times.