- About the service
These terms and conditions refer to services provided by FP Advocate Pty Ltd to clients referred to that entity by you as that client’s advocate. The terms and conditions relate both to our service to your clients and our relationship with you.
These terms and conditions form the basis of our agreement with you. All services provided by us will be provided in a manner consistent with these terms and conditions.
As of June 2017, our financial planning services are limited to the provision of risk insurance advice. Further services may be added in the future.
- What we provide
We provide compliant financial advice to clients referred to us by you in your role as their advocate. This includes the following:
- provision of the financial services guide prior to the provision of advice;
- development of advice suitable to your client;
- provision of a compliant statement of advice; and
- implementation of all advice that is accepted by the client.
- What you provide
You provide a referral of your client and ensure that the ‘online factfinder’ for that client has been completed. This factfinder might be completed by you as your client’s advocate or by the client themselves.
You can choose to suggest particular strategies or you can simply ask us to make recommendations based upon our judgement of your client’s situation.
- Revenue
We agree to pay you an amount equal to 50% of all revenue received for the provision of financial advice services to the client for whom you are the advocate. For risk insurances, this includes both upfront and initial commission payments received for the products recommended to the client for whom you are the advocate.
These amounts are payable to you within 10 business days of us receiving them.
The payments will be referred to as advocacy fees. We will make the payments to any entity that you direct and you are responsible for the tax treatment of those payments.
- Warranties
We warrant that we will provide compliant financial services that are in your client’s best interests.
We warrant that we will only contact your client for the purposes of providing the agreed advice and to the extent required by the financial services law. We will not contact your client with regard to other services.
You warrant that you will provide correct and comprehensive information about your client. You agree that you will not seek to use the service for any purpose other than your client’s best interests. In particular, you warrant that you will respect any fiduciary, contractual or other legal duty that you owe to your client.
You warrant that all information provided by you and/or your client is accurate. You will immediately notify FP Advocate Pty Ltd if you become aware that there are any inaccuracies in the materials provided.
You warrant that you will not engage in any misleading or deceptive conduct with regard to any services provided to you or your clients.
You agree to notify FP Advocate Pty Ltd of any change in your circumstances that affects the service being provided to you or your client.
You agree not to misuse any materials or services provided to you or your client by FP Advocate Pty Ltd. This includes an agreement not to use the service in a way that contradicts this agreement or any law that relates to such use.
- Privacy
You agree your personal details will be collected and stored by FP Advocate Pty Ltd and used to manage your payments and provide services to your clients. This includes all uses of that information required for FP Advocate Pty Ltd to comply with all aspects of the financial services law and any other laws that apply.
Your clients agree that their personal details will be collected and stored in accordance with the legal requirements for the provision of financial services.