- Financial Services Guide
- Responsibility For Services Provided
- Who Do We Act For
- Personal Information
- Retail Clients
- Retail Client Issues
- What We Expect From You
- Our Sources Of Income
- How Our Representatives Are Paid
- Cooling Off Provisions
- Contact Agreement
- Conflicts Of Interest
- Our Services
- Our Products
- Electronic Delivery Of Disclosure Notices
- Steadfast Group Limited
When we place insurance for you, we usually receive payment from the insurer. The amount payable generally varies between 0% and 25% of the base premium you pay. This is known as the commission. Full details on commission will be included in any Statement of Advice we send you.
We have a set of standard Broker Fees that we may charge you for the cost of services such as:
- Market research on products available.
- Assessing the claims paying ability of insurers.
- Sourcing alternative quotations and coverage.
- Risk analysis and portfolio co-ordination.
All fees payable for our services will be advised to you at the time of providing the advice or service.
When you pay us your premium it will be banked into a Trust Account. We retain the interest on premiums received from you that are held in our Trust Account prior to paying to your insurer. Premiums are paid to the insurer in line with arrangements we have with the insurer.
If you pay by credit card we may charge you a credit card fee, which is always disclosed on our invoices to you, they are non refundable.
This fee reimburses us for the bank interest, extra charges/costs etc. for credit card use.
Premium funding products enable you to pay your premiums by installments. Premium funders do charge interest. We can arrange premium funding if you require it. We may receive a commission based on a percentage of the premium from the premium funder for doing so. We will tell you the basis and amount of any such payment if you ask us.
As noted elsewhere, we are a members of Steadfast Group Limited (Steadfast). Steadfast has a shareholding in Macquarie Premium Funding (MPF). When we arrange premium funding with MPF Steadfast will receive 0.5% of your total premium. As a shareholder of MPF, Steadfast may also receive dividends from operations of MPF. The payments from MPF to Steadfast are used to operate Steadfast. Depending upon the operating costs of Steadfast, and the amount of business we place with MPF, we may receive a portion of these amounts at the end of each financial year. MPF also pay us an amount of 0.5% of funded premium as contribution to our marketing and operating costs – this amount is not added to the interest charged to our clients.