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Q?
Who will be providing the financial services to me?
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A.
Raghavendra Vattam and Way2Wealth Advisers Pty Ltd are Authorised Representative Nos 291575 and 1237433 (respectively) acting under authority from Synchron.
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Q?
What kinds of financial services are you authorised to provide me and what kinds of products do those services relate to?
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A.
Way2Wealth Advisers Pty Ltd is authorised by Synchron to offer you the following services:
Provide financial product advice and to deal in a financial product by arranging for a financial product to be acquired, disposed of, or varied.
Way2Wealth Advisers Pty Ltd can provide advice on and deal in the following products:-- Deposit and Payment Products
- Debentures , Stocks or Bonds issued by a Government
- Life Products, including
- Investment Life Insurance Products
- Life Risk Insurance Products
- Interests in Managed Investment Schemes (incl IDPS)
- Retirement Savings Account Products
- Superannuation
- Securities
- Self Managed Superannuation Funds
- Standard Margin Lending Facility
We will only recommend a product or strategy to you after considering its suitability for your individual situation and needs. We do not provide advice in any other area of insurance or investments but can refer you to a professional who specialises in other areas if requested. Any arrangements you make with the other professional will be strictly between you and that person and neither Synchron nor our Authorised Representative accept any responsibility or liability for the advice given.
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Q?
Do you receive remuneration, commission, fees or other benefits in relation to providing the financial services to me and how is that commission calculated?
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A.
Way2Wealth Advisers Pty Ltd will be paid 100% of the brokerage and/or fees received by Synchron minus a fee of 5% for the provisions of professional services from Synchron. This brokerage is used to provide income after paying for the normal expenses incurred with running a business (eg rent, vehicle, computer, stationery, professional fees etc). Insurance Monitoring: Internal databases are maintained detailing client’s insurances that were recommended by our Authorised Representative on behalf of Synchron. This does not constitute portfolio monitoring. Portfolios are reviewed on a regular basis, subject to the client’s discretion.
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Q?
How we charge for our services
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A.
All fees and commissions are inclusive of GST and the fees could be greater than those disclosed below in complex cases. In these instances, we will inform you of the exact fee payable promptly in writing.
# Title Initial consultation The Initial Consultation may cost between $220 to $440 for the session. Our main aim is to gather information about you and to determine your primary goals and objectives in seeking advice.
At the end of this meeting, we will outline the next steps and detail any fees applicable.Advice preparation Statement of Advice Fee Paraplanning fee You may be charged a Statement of Advice preparation fee which will depend on the complexity of your individual circumstances and type of advice you require. Any fee for service must be paid within seven (7) days of the date of the tax invoice issued to you. The fee may range from $0 - $22,000. Implementation of Initial Advice Fee (Fee for advice) We will outline the details of any fees, including Implementation Fees, for you to authorise before any work is carried out.
If you elect to proceed with our advice the fee will range from $0 to $22,000.Ongoing fee for advice (Retainer) (Fee for advice) If you elect to pay a fee for access to services involved in the ongoing review of your financial planning strategy, the ongoing fee is based on the complexity of ongoing advice and the services provided.
The ongoing advice fee will be based on the level of services made available to you and the complexity of the advice. Complex advice requirements include the use of trusts and ownership structures, overseas assets, or incomes, executive options, or multiple investment entities. The frequency that review services are made available to you will also impact on the fee charged.
The ongoing advice fee can range from $0 - $22,000 per annum.
Borrowed funds – if we recommend you acquire investments using borrowed funds then your ongoing fee will be a minimum of $0 and a maximum of $11,000 pa.Ad hoc advice Where you do not wish to participate in an ongoing advice fee arrangement but require ongoing advice on an ad hoc basis, an hourly fee of between $0 and $440 per hour may apply. Insurance Products My company or I may receive up-front commission of up to 60% (exclusive of GST) of your first annual insurance premium for arranging your cover. In addition, my company or I may receive, after the first year, an ongoing annual commission of up to 20% (exclusive of GST) of your annual insurance premium. Note that where commissions are the same for initial upfront and ongoing annual commission (i.e. level commissions) the above commission caps do not apply.
These commission payments are made by the relevant product issuers and are not an additional cost to you.
Q?
Related Entities
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We hold shareholdings in these companies, and we do receive fees/profit sharing from these entities:
• Way2Wealth Mortgage and Finance Pty Ltd (ABN: 64 635 495 359)
• Way2Wealth Insurances Pty Ltd (ABN: 51 649 048 162)
• Taxcellent Business & Tax Services Pty Ltd (ABN: 90 641 456 617)
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Other benefits, interests, or associations
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I or my company may have referral arrangements with selected referral partners. If a referral arrangement applies to you, we will provide you with further details.
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How to find me?
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If you would like to make an interview time to discuss your financial needs and objectives in more detail, please contact me on 0433 171 834 or via email at Raghu.vattam@way2wealth.net.au.