Financial Services Guide

Issued 19 December 2013

The purpose of this Financial Services Guide (FSG) is to provide you with information about PFS, the financial services that we offer, how we are remunerated, and your rights as a client. The FSG is intended to assist you to make an informed choice about the services we offer and whether they are appropriate to meet your needs. If you need more information or clarification on any aspect of this FSG, please contact us using the details provided at the end of this document.

Throughout this FSG, PFS is referred to as ‘we’, ‘us’, ‘our’ or any variations. The term ‘PFS Representative’ refers to any Authorised Representative or employee of PFS who provides some or all of the financial services described in this FSG.

About PFS

PFS is an Australian company providing specialist consulting advice and services in areas including strategy, governance, compliance and licensing, risk management, financial modelling, group insurance, actuarial matters, employee benefits, and management of stakeholder relations. Our clients include AFS licensees, superannuation funds, general insurers, life insurers and re-insurers, government agencies, credit unions, employers, and professional associations and industry bodies.

Advisory Services

PFS holds an Australian Financial Services (AFS) Licence (283650) to provide financial product advice and arrange for another person to deal in a financial product. That licence authorises PFS to:

  1. Provide financial product advice to retail and wholesale clients, which may take into account the client’s specific circumstances, in relation to: 
    1. General insurance products 
    2. Life products including: investment life insurance products; life risk insurance products; and any products issued by a registered life insurance company that are backed by one or more of its statutory funds 
    3. Interests in managed investment schemes (excluding investor directed portfolio services) 
    4. Retirement savings accounts (RSA) products within the meaning of the Retirement Savings Account Act 1997 
    5. Superannuation 
  2. Deal in a financial product by arranging for another person to apply for, acquire, vary or dispose of financial products in respect of the following classes of financial products: 
    1. Life products including: investment life insurance products, life risk insurance products; and products issued by a registered life insurance company that are backed by one or more of its statutory funds 
    2. Interests in managed investment schemes (excluding investor directed portfolio services) 
    3. Retirement savings accounts (RSA) products within the meaning of the Retirement Savings Account Act 1997 
    4. Superannuation

If you are a retail client and PFS provides you with personal financial product advice within the meaning of these terms as contained in the relevant legislation, then we may provide that advice in the form of a Statement of Advice (SoA) which will include the financial product advice, an explanation of the basis on which the advice is given, and information about our remuneration and any other benefits, interests, associations, or relationships that might influence our advice. A Product Disclosure Statement (PDS) will be provided if a product recommendation is made.

Provision of Advisory Services

PFS is responsible for the advice given to you. We do not act for any other entity or person when providing advice to you.

Payment for Advisory Services

PFS does not obtain any commissions or benefits from, or receive any fees from, any party other than the clients for whom we act. Our fees depend on the nature and complexity of the services provided and will be agreed with you at the time we are appointed.

Remuneration of PFS Representatives

PFS Representatives do not receive remuneration, commissions or benefits from any financial product issuers. Our Representatives who provide the financial services described in this FSG are remunerated either by salary, or in some cases with direct reference to the fees PFS earns from clients. Dividends and profit share payments may also be made.

Relationships or Associations with Financial Product Issuers

PFS provides consulting services to a number of financial product issuers. These relationships do not influence our advice or services to other clients. Prior to providing financial services to you, we will disclose any relationships that we may perceive as giving rise to any potential conflicts of interest.

Giving Instructions to PFS

Instructions may be provided to PFS Representatives over the telephone, in writing by mail, fax or email, or face-to-face. In certain circumstances you may be required to complete and sign specific documentation in order for your instruction to be actioned.

Document Retention

PFS is required to keep a physical or electronic record of all financial product advice and services provided to you in accordance with the relevant document retention period. On the expiry of the document retention period, PFS will take all reasonable steps to de-identify and destroy this information, unless it is still required for legal reasons.


PFS is committed to treating any personal information that we collect from you in accordance with the thirteen Australian Privacy Principles (APPs) which are contained in the Privacy Act 1988 (Cth). The APPs govern the way in which we collect, use, disclose, transfer and secure personal information obtained by us in the course of providing professional services to our clients. For details about our Privacy Policy please contact using us using the details listed at the end of this document or visit our website at

Complaints Handling

If you have a complaint about the financial services we have provided to you, we encourage you to talk to the PFS Representative who provided the services to you in the first instance. If you are not satisfied with the way in which your complaint is handled, or with its resolution, please put your complaint in writing to:

The Managing Director
Professional Financial Solutions Pty Ltd
GPO Box 2128, Sydney NSW 2001

If we receive a complaint it will be treated seriously and dealt with promptly and in a confidential manner, and it will not affect our existing obligations to you or affect the commercial arrangements that have been agreed with PFS. You will receive a written acknowledgement of your complaint within one working day of its receipt. A written response regarding your complaint will be forwarded to you within 20 working days of its receipt.

In the event that you are dissatisfied with the outcome of your complaint, or the time period for receipt of a response from us has expired, you may refer the complaint to the Financial Ombudsman Service (FOS). FOS is an independent body established to assist consumers in the resolution of complaints relating to the financial services industry, and in particular, the provision of financial products and advice. FOS may be able to assist you to resolve your complaint, but will only become involved after you have made use of PFS’s internal complaints handling process.

The Financial Ombudsman Service Limited (FOS)
GPO Box 3
Melbourne VIC 3001
Phone: 1300 780 808

In relation to any dealing activities undertaken by PFS on behalf of a superannuation trustee, any complaints should be made directly to the relevant trustee of the fund. The trustee may liaise with PFS to resolve the complaint.

Please note that the complaints handling procedure set out in this FSG does not apply to complaints you wish to lodge or make against the issuer of the product in which you invest. For details of how to make such a complaint, please refer to the Product Disclosure Statement (PDS) of the relevant product.

Professional Indemnity Insurance

PFS has professional indemnity insurance arrangements in place which meet its obligations as the holder of an AFS Licence. PFS’s indemnity insurance arrangements cover claims relating to the professional services we provide to clients and the conduct of current and former PFS Representatives (where PFS is responsible for the conduct of the Representative at the time of the relevant conduct).

Additional Information

PFS reserves the right to modify this FSG from time to time to reflect our current obligations as a financial services provider.

You may request a copy of this FSG in a particular form and we will take such steps as are reasonable in the circumstances to give you a copy in that form. Should your request for access in a particular form be declined, or an access charge is imposed, we will explain this decision to you.

If you would like more information about how we operate and the professional services that we provide, please contact us:

Professional Financial Solutions
Level 6, Challis House
4 Martin Place Sydney NSW 2000
Telephone: 02 9225 6100


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