Financial Services Guide
What Is An FSG
Financial Services Guides are intended to assist clients to decide whether to obtain financial services from us.
The Corporations Act’s requirement that we must provide retail clients with an FSG provides an opportunity to streamline our procedures for providing clients with statutory notices, information about the basis on which we act for them and how we will handle the client’s business.
Although a FSG is only required for retail clients, as they are such an effective and constructive method of providing the statutory notices and other information that we need to give clients, we will use them for wholesale clients as well.
The Compliance Manager will ensure that the FSG is reviewed at least annually and when any legislative or industry changes warrant, ensuring that it is up-to-date.
When Must An FSG Be Provided
WHITE Insurance Brokers must give an up to date FSG to all actual and potential retail clients as early as possible after they have contacted us to make an enquiry, seek advice or to ask us to provide services to them. The FSG must be given to the retail client before we provide any advice or arrange any financial product on their behalf.
If the circumstances described in the FSG change, we must give the retail client an updated FSG or a Supplementary FSG before we provide any financial services after the change occurs.