Licensee: Acumen Investors Pty Ltd (‘Acumen Investors’)
Australian Financial Services Licence (‘AFSL’) Number 526 972
Acumen Money is authorised to provide financial advice under the
Australian Financial
Services License of Acumen Investors Pty Ltd (ABN 58 638 480 118 / AFSL 526 972),
Acumen Money is the trading name of Acumen Hybrid Unit Trust (ABN 32 676 515 760) a
Corporate Authorised Representative (130 2909) of Acumen Investors. Collectively, we
are referred to as ‘we’ or ‘us’ or ‘our’.
This Financial Services Guide "FSG" provides information on who we are and the services
that we offer under the AFSL of Acumen Investors. It contains information about the
types of remuneration which may be payable to Acumen Money for the services
provided to you and describes how complaints about Acumen Money are handled. This
FSG is designed to assist you in deciding whether to use our financial services.
Non-Aligned but not independent
Acumen Money is privately owned and is not aligned with any financial
institutions. We are not obliged to sell or advise on any specific brand of financial
product.
Acumen Money and its Advisers are not able to refer to ourselves as 'independent',
'impartial' or 'unbiased' as we may receive monetary benefits in relation to the
provision of personal advice to retail clients. Our disclosure of lack of independence
does not compromise our Advisers in providing you with appropriate advice.
Advisers have a duty to act in your best interests.
SERVICES ACUMEN MONEY PROVIDE:
Acumen Money is authorised by Acumen Investors, its Licensee to provide financial
product advice in the following classes and deal in the following financial products:
○ deposit products other than basic deposit products;
ABOUT US
Acumen Money is authorised by Acumen Investors (AFSL 526 972) under section 913B
of the Corporations Act 2001 to provide financial services to retail and wholesale
investors, as a Corporate Authorised Representative (1302909). The financial services
provided are listed in the section below.
OUR PRODUCTS AND SERVICES AND FEES
Acumen Money offers Superannuation and Retirement Planning, Financial Planning
and structuring, Wealth Protection (in life insurances as well as portfolio hedging) and
Investment services.
i. Personal Advice
Acumen Money is licensed to provide its clients with personal advice, being advice given in circumstances
where your Adviser has considered one or more of your investment objectives, financial situation and needs
(your relevant personal circumstances).
ii. Financial Planning and Superannuation services
Your Financial Adviser works with you at the discovery stage of the advice process to
define your financial goals and objectives. You may be required to assist with provision
of personal information and undertake questionnaires, After obtaining the relevant
information, your Adviser will conduct research and develop a strategy to assist you to
meet your goals and objectives. Where structures are set up and personal financial
product advice is being provided, the relevant strategy and advice will be documented
in the Statement of Advice ('SOA'), PDS and other relevant documents may also be
provided. Where you elect to proceed with the recommendations, your Financial
Adviser will work with you to implement the strategy. The Fee for advice varies
according to complexity. with the minimum being $5,000 excluding GST.
iii. Investment Services
Where investment services or products are implement, the relevant fees are as follows:
ASX Securities
Acumen Money provides trade execution, settlement and clear through third party providers. We
may execute such trades on behalf of clients on platforms as well.
We may charge fees stated below, or in addition to, those disclosed in this FSG where we have
disclosed such fees to you in writing prior to providing the relevant service. Where we are
required to issue you with a SOA in connection with personal advice, that document will provide
details of the fees payable relative to that advice. Personal advice is advice that considers your
personal objectives, financial situation and needs. In general, we must give you a SOA the first
time we provide personal advice about any financial product.
Brokerage is charged as a percentage of the total consideration when buying or selling shares or
derivatives. Brokerage rates are subject to negotiation between the client and the Adviser, and
will depend on the type and kind of service required, whether it is via Models or Customised
Portfolios, including the size and frequency of transactions. The brokerage rate may be
applicable to all transactions, or a rate may be applied to a single transaction.
Brokerage rate charges can range up to 1.50% for all ASX/International Equity, Warrant and ETO
(Exchange Traded Options) transactions depending on the ‘agreed brokerage rate’ between the
Client and the Adviser and the complexity of the trade. Unless agreed otherwise, a standard ASX
‘Default Brokerage Rate’ is 1.00% per contract/confirmation note with a minimum charge of
$100 excluding GST for Customised Portfolios and securities transactions or a minimum charge
of $50 or 0.5% whichever is greater excluding GST for investing via Models. Default fees are
subject to change and may be different from what your Adviser has stipulated in your
application form. Please confirm your fee scale with your Adviser before executing the first
transaction.
Miscellaneous Fees and Charges
A number of fees and charges may be charged and are subject to discussion between you and
your Adviser. These are set out in the table below (excl. GST);
| Fail Fee (Buy and Sell Transaction), ETO including margin calls - $100.00 per day up to a max. of $1100 per day | Bank Dishonour Fee - $75 |
| Off Market Transfers - $100 | Late payment fee - Buys and Sells $50.00 plus Interest |
| Exercise and Assignments - $1 | SRN Requests - $25 |
International Equities
Acumen Money provides trade execution, settlement and clear through third party
providers. We may execute such trades on behalf of clients on platforms as well.
Costs and charges vary according to exchanges and the provider used. The choice of
provider is dependent on your needs, frequency of trading and size of trades, in order to
achieve the best service and cost outcome for you. Your Adviser will advise the specific
charges and costs involved before the first transaction. Acumen Money reserves the right to
pass through to clients’ account any additional charges, administration fees or changes to
existing charges that our Licensee may incur as a result of industry practices or through the
course of normal business operations. You will be notified of any of these changes prior to
their implementation.
Portfolio Administration Services and Fees
Acumen Money undertakes Portfolio Administration and Reporting Service for all clients’
portfolios, unless expressed excluded by clients. The Acumen Investment Service (AIS)
undertakes full portfolio administration which include performance tracking, and Annual
Tax Reporting for portfolios.
The AIS fee excluding GST may be fixed or as a percentage of overall Portfolio value. Fees
vary according to the style of investing, i.e. via models (majority of clients) or Customised
Portfolios, which include derivatives (only available for larger portfolios).
| Investing Via: | Model Portfolios | Customised Portfolios |
|---|---|---|
| ASX securities and derivatives (non-Platform) |
Min: $350/mth or $4,200 p.a. excl. gst Max: $750/mth or $9,000 p.a. excl. gst |
Min: $950/mth or $11,400 p.a. excl.
gst, thereafter a % of Portfolio
Value Max: individual negotiation with Adviser. |
| International securities | 0.1% excl. gst per month of Portfolio value | 1.5% of Portfolio Value and/or min $100 or 1% on execution only |
Fees and charges are subject to changes and the default above may vary according to Advisers' assessment of complexities of individual portfolios.
SMA/Managed Accounts
Acumen Money provides clients with choices of institutional-grade and professionally managed
ASX-only, international or multi-asset direct securities portfolios as approved by its Licensee. This is
achieved cost effectively through Licensee mandated portfolios invested on ASX-listed next-gen
investment platforms. They provide investors with aggregated online portfolio reporting, custodial
and administration for investments across all entities from superannuation, SMSF, personal, trusts,
family members to company, all in one login.
Adviser fee charged is up to 1.5% p.a. of portfolio value, which may not include Model Manager fee,
Custodian and Platform fee of under 1% p.a. of portfolio value. Clients are offered scaled fees on
larger portfolio balances or when grouped with other family accounts. A copy of the PDS is
provided at the time of account opening, if not prior. Acumen Money reserves the right to charge a
fee of up to 2% on initial contributions in certain circumstance.
Margin Lending
Acumen Money provides margin lending services to selective clients who are generally Wholesale
Investors with prior approval of the Licensee.
Derivatives
Acumen Money provides advice and execution in derivatives to selective clients who are generally
Wholesale Investors with prior approval of the Licensee.
iv. Life Insurance Products
Clients may purchase group life insurance as part of their investments. Where the advice
recommendations include the purchase of stand alone insurance policies, you may be
requested to complete a Health Questionnaire. Failure to disclose certain matters may
result in a claim being denied. The investment platform, life insurance company or
insurance broker may remunerate us when we arrange life risk insurance or investment
life insurance products through that company or broker. As the remunerated amounts
may vary, your adviser will give you details when advising you about such products and
such remuneration will also be disclosed in the PDS or SOA provided to you.
REMUNERATION AND BENEFITS
The fee we charge clients is how Acumen Money is directly remunerated. Acumen Money
may also receive benefits or remuneration from third parties such as product providers
through commissions. Applicable fees and charges payable may change from time to
time and are quoted exclusive of GST.
These remuneration may include:
- brokerage fees, portfolio administration and reporting fees, Adviser fees and Performance Fees (where applicable)
- initial and ongoing commissions paid to us by product and service providers, which may include certain IPOs, placements or new product fees, which range from 0.5% to 2% as set by the issuer or as stated in the PDS or Prospectus
- Where insurance policies are implemented, up to 66% of first year's premium of new policies as initial commission and up to 22% of ongoing commissions of the insurance premium each following year
Remuneration and benefits to Advisers
Acumen Money's Advisers are remunerated by either salary and/or commissions. The
commissions earned may be between 0% and 100% of commissions earned across all
platforms and products advised.
PRIVACY
Your privacy is important to us. Details of how we handle your personal information is
disclosed on our Privacy Policy which is available on our website.
COMPENSATION
We have compensation arrangements in place including a Professional Indemnity
Insurance Cover which satisfies the requirements under section 912B of the
Corporations Act and is adequate (within its terms and conditions) for the type of
financial services we provide and for any potential liability arising from compensation
claims.
COMPLAINTS
If you have any complaints about our products or services, we have a complaint and
resolution procedure that aims to deal with and resolve your complaint quickly and
effectively. You should raise any complaints with your Adviser in the first instance. If you
feel your complaint has not been resolved satisfactorily, please contact via the following
methods, addressed to:
The Compliance Manager
Phone: +61 425 304 302 or Email to: wchen@acumeninvestors.com.au or In writing and
send it to:
PO Box 707 Chatswood NSW 2057
If your complaint has not been resolved satisfactorily, you may refer the complaint to The Australian Financial Complaints Authority.
AFCA
Telephone: 1800 931 678
Website: www.afca.org.au
Email: info@afca.org.au
Mail: GPO Box 3, Melbourne VIC 3001 Contact Us
Our contact details are:
Registered office: Level 6, 352 Kent Street. Sydney NSW 2000, Australia
Website: http://www.acumeninvestors.com.au
Telephone: +612 8005 1218
Email: contact@acumeninvestors.com.au
If you have any further questions about the financial services we provide, please contact
our CEO, Wai-Yee Chen on +61 425 304 302 or wchen@acumeninvestors.com.au