Terms and conditions for initial advice agreement

Terms and Conditions for Initial Advice Agreement

As outlined in your financial advice proposal, should you chose to work with us, we undertake a more detailed data collection to confirm your current financial position and then prepare our comprehensive financial modelling and analysis to assist us in developing your recommended strategies which will be contained in your Statement of Advice (SOA).

Please review your Financial Advice Proposal (proposal) carefully as it confirms the scope of advice for your SOA, the cost and payment method as agreed between you and Wealth Collective Pty. Ltd. ABN 95 624 612 684 trading as Pekada (Pekada).

If you have any questions about the content of this Proposal, please ask us before you sign. As agreed, we will create a financial plan that addresses the goals detailed in the ‘Scope of advice’ section of your Proposal.

Changes to your circumstances:

Please tell us if there are any changes to your circumstances as soon as practicable. Significant changes in your circumstances may affect our advice. We reserve the right to terminate this Proposal agreement and reassess the cost of providing advice. Any additional costs will be agreed upon before we proceed with preparing your revised recommendations.

 

 

 

If you do not implement our advice:

You will be liable for any costs to research and/or prepare SOA as detailed above. All implementation costs will be waived. If you have agreed to pay for your initial advice via an investment deduction, an invoice will be issued to you for any amount outstanding.

Your insurances:

When funding your cost of your insurance application via commission, if your application for insurance is accepted by the insurance company, we will receive upfront and ongoing payments known as commission. The insurance company requires that for us to receive this commission the policy must be in force for a minimum of 24 months. Therefore, if you cease to pay premiums on any policies arranged by us within 24 months, we will be required to pay the commission (including any amounts that represent our advice fee) back to the insurance company.

Accordingly, we reserve the right to recover the amount we must refund to the insurance company from you. In this case you will receive an invoice from us stipulating the amount due and any payment terms.

 

Client acknowledgements:

Your proposal is based upon our understanding of your goals and objectives. It is your responsibility to confirm the goals, objectives and scope of advice are accurate and that there have been no omissions or misunderstandings in relation to these key areas. No research, analysis or strategy work will commence on your SOA without your consent and acceptance of this proposal.

By accepting this offer, you agree to pay the advice fees for the work that has been confirmed within this letter of engagement. Pekada will issue you with an invoice and the terms of payment is 7 business days. (If you would like Pekada to consider alternative payment options, such as payment by way of instalments or the deduction of fees from your investments, please contact us in advance prior to accepting the attached proposal).

Your proposal is valid for a period of 30 days and should you have any questions in relation to any information contained within, please do not hesitate to contact Pekada on 1300 735 232 or contact your financial planner directly.

I/we understand and agree that:

  • Pekada will provide services to me/us in line with my Proposal.
  • The cost of initial advice, has been fully disclosed in this Proposal.
  • If I/we do not implement the advice in my/our financial plan, all initial advice fees for the research and/or preparation of my/our financial plan will be due and payable immediately.
  • All fees in this Agreement are inclusive of GST.

 

Please note:

A proposal or strategy discussion paper is general advice by nature and does not consider your full specific circumstances. As such, a proposal of strategy discussion paper is not an advice document and the strategies discussed should not be relied upon, implemented or construed as our advice recommendations. Do not implement or pursue any potential strategies, without receiving an official Statement of Advice document.

Pekada is an authorised representative of Communitas Wealth Pty Ltd ABN: 21 620 514 945 (Communitas) whom is the holder of an Australian Financial Services License (AFSL No: 500551). For further information relating to the relationship between Pekada and Communitas, please refer to our Financial Services Guide (FSG) which can be found on our website at www.pekada.com.au