This Financial Services Guide ('FSG') has been prepared by Præmium Australia Pty Limited (Præmium) in accordance with the requirements of the Corporations Act, to assist you in determining whether you wish to use any of the financial services or products provided by Præmium. It is dated 31 March 2006.
The matters covered by the FSG include:
Præmium is a wholly owned subsidiary of Præmium Limited. Præmium provides:
Præmium does not provide services directly to retail investors and will not accept any instructions from them. Accordingly, if you have questions about Præmium or wish to issue any instructions in respect to your portfolio you should contact the adviser who provides you with access to our portfolio administration service. However, if you wish to contact us you can do so at any of the following:
In respect to any financial advice Præmium provides, you should note the following:
Præmium holds an AFSL because some of its activities may be financial services as defined by the Corporations Act 2001 (Cth). Præmium has no intention of using its llicence for any purpose other than to provide the services within its area of expertise, namely, providing online portfolio administration services and online execution services only in securities to retail and wholesale clients and therefore comply with its obligations under the Corporations Act.
Præmium provides services to advisers and not for you or for any product arrangers or issuers. Any financial product advice provided to you as a direct consequence of your use of the portfolio administration system will be provided by Præmium. Præmium acts in its own right.
Under the Corporations Act, Præmium may be deemed to provide general financial product advice to you as a consequence of the way that you may use the functionality of the portfolio administration service, even though we do not intend it to be used for that purpose and we do not deal directly with you. Præmium may also provide arranging services to your adviser or broker and, depending on the way that your broker provides you with access to p-Desktop, arranging services may be provided indirectly to you.
You have access to Præmium's services through third party intermediaries, including financial planners, accountants and stockbrokers. Præmium will not ever accept instructions in relation to our services directly from you. If you wish to change the way in which your portfolio is administered or the persons who have access to it, you need to instruct the person who gives you access to it. This will be your financial planner, accountant, stockbroker or portfolio administration provider. General advice provided by Præmium does not constitute personal advice as it does not take into account your financial situation, needs and objectives.
Præmium does not receive commissions for the use of its portfolio administration services. Where Præmium provides the service to an intermediary, it is remunerated by the payment of a subscription fee which is based on the number of portfolios which that intermediary administers using Præmium. Subscriptions are paid as agreed with individual clients.
Præmium does not receive commissions for the use of its arranging services. It charges its clients a fee based on the number of users who have access to the service or the number of trades executed using the services.
Præmium employees receive a salary and do not receive remuneration, commissions or other benefits from any product issuers. They may be eligible for an annual performance payment which is discretionary and based on reaching agreed performance levels.
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Should you wish to lodge a complaint about the service provided by Præmium you should lodge a formal letter of complaint directly with Præmium. The letter should be addressed to the Director of Operations, c/- Præmium Australia Pty Limited, Level 1, Præmium House, 406 Collins Street, Melbourne 3000. The Chief Operations Officer is a senior member of the Management team (she is a director of Præmium and its parent company) and is able to confer with the CEO if she believes it appropriate to do so in respect to any issue that you raise.
We will follow our internal dispute resolution procedure and, if necessary, refer the matter to our General Counsel (who, as the Company's senior compliance officer, is able to refer the matter to the company's Audit, Risk & Compliance Committee). In the event that the outcome of your complaint is not satisfactory to you, you may request that the matter be referred to the Financial Industry Complaints Service Limited (FICS) as described in the Præmium Complaints Handling and Dispute Resolution procedures. You may request further information about the complaints scheme at any time. FICS may be contacted by freecall on 1300 780 808.