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Financial Services Guide

This Financial Services Guide (FSG) is an important document which we are required to give you under the requirements of our Australian Financial Services Licence. It provides you with information about Terry Lee Financial Planners to help you decide whether to use the financial services we provide. This FSG explains the services we can offer to you and the types of products we offer. It also explains how we (and other related persons) are remunerated for these services, and includes details of our internal and external complaints handling procedures and how you can access them.

If you choose to use our services you may also receive from us a Product Disclosure Statement (PDS), Statement of Advice (SOA) and/or Record of Advice (ROA).

To invest in any of our recommended financial products you must complete the application form attached to the relevant PDS. The PDS contains information about the particular product and will assist you in making an informed decision about that product.

If we provide you with personal financial product advice rather than general financial product advice we will initially provide you with an SOA. Personal financial product advice is advice that takes into account one or more of your objectives, financial situation and needs. The SOA will contain the advice, the basis on which it is given and information about fees, commissions and any associations which may have influenced the advice.

On an ongoing basis, an ROA will be provided instead of an SOA if there have been no significant changes in your personal circumstances or the basis of the advice has not significantly changed since your last SOA was provided. You have the right to request a copy of your ROA at any time.

Who Are We?

Terry Lee Financial Planners is a family owned and operated business which offers a range of financial products and services to its clients. The business has been operating within the financial services industry for over 21 years and is committed to facilitating high quality advice and continued excellence in client services.

Why Are We Different?

Unlike most financial planning companies, we are not obligated to any financial institution, bank or insurance company. We are free to recommend products that we feel best suit our clients’ needs.

What Do We Offer?

We offer you personal advice and dealing services on the below:

  • Financial planning
  • Investment strategy
  • Superannuation strategies, including self managed superannuation funds
  • Life and disability insurance, including investment life insurance
  • Tax effective investments
  • Centrelink benefits advice
  • Retirement planning advice
  • Portfolio review services
  • Ongoing advisory services

Who is your Adviser?

Terry Lee is a Director and Representative of Terry Lee Financial Planners.

Terry has over 21 years experience in the financial services industry, holds a Diploma of Financial Planning and is a Certified Financial Planner (CFP) through the Financial Planning Association.

What Will We Not Do?

We will not provide advice on classes of financial products other than those identified in Terry Lee Financial Planner’s AFS Licence or detailed above.

What Do We Expect From You?

We expect that you will provide us with accurate information that we request so that we have a reasonable basis on which to provide you with advice.

As a financial service provider, we have an obligation under the Anti Money Laundering and Counter Terrorism Finance Act to verify your identity and the source of any funds. This means that we will ask you to present identification documents such as passports and driver’s licence. We will also retain copies of this information. We assure you that this information will be held securely. We cannot provide you with services if you are unwilling to provide this information.

How Are We Paid for the Services We Provide?

Due to the varying nature of individual client cases, our fee for SOA preparation, implementation and our portfolio review service process will be disclosed on an individual basis and may include the following:

Initial Advice, Written Report and Implementation

Preparation of advice fee is a maximum $10,000 depending on the complexity of the advice.

Fee for service is a maximum $550/hour depending on complexity.

A percentage fee may be charged, to a maximum of 6% of the investment amount. For example: $100,000 x 6%= $6,000

Ongoing Service and Administration

An ongoing investment service fee is based on a sliding scale up to a maximum of 4% pa of the account balance from time to time, usually debited monthly from the investment account.

For example: $100,000 x 4%= $4,000 pa

Ongoing commissions are charged to a maximum of 2% of the fund’s value.

Life Insurance Advice and Recommendations

An upfront commission applies, payable by the life insurance company, to a maximum of 130% of the first years premium.

For example: $1,000 x 130%= $1,300

A servicing commission, paid by the life insurance company, to a maximum of 50% of each premium as it is received, may also be received by Terry Lee Financial Planners.

Full disclosure of all fees will be contained in the Statement of Advice that we prepare for you. All amounts quoted are inclusive of GST.

What Commissions, Fees or Other Benefits are Received?

Terry Lee Financial Planners may from time to time receive a benefit from preferred product providers by way of sponsorship and non-cash benefits in the form of educational seminars, conferences or training days. Details of benefits above $300 will be maintained on a Register.

You have a right to request for further information in relation to the remuneration, the range of amounts or rates of remuneration, and soft dollar benefits received by the licensee and/or representative.

Do any relationships exist which might influence the service or advice I receive?

Terry Lee Financial Planners is not owned by any Fund Manager or Institution and there are no relationships that will influence the advice that you receive from them.

Terry Lee Financial Planners has obtained a shareholding in Associated Advisory Practices Ltd. (AAP), a service company that provides legal, compliance training and business development support to Terry Lee Financial Planners. This shareholding may entitle Terry Lee Financial Planners to receive a share of the distribution of any profits via annual dividend. The amount of the dividend receivable is solely at the discretion of the AAP Board of Directors.

Your adviser may hold an interest in a financial product. Any significant interest/ownership will be recorded in a register of financial product holding and where appropriate, this holding will be disclosed to you in the SOA.

Will you give me advice that is suitable to my investment needs and financial circumstances?

Yes. However, to do so we need to find out your individual investment objectives, financial situation and needs before we recommend any investment or risk products to you. You have the right not to divulge this information to us, if you do not wish to do so. In that case, we are required to warn you about the possible consequences of us not having your full personal information. You should read the warnings carefully.

What should I know about any risks of recommendations made for me?

We will explain to you any significant risks of investments, insurances and strategies that we recommend to you. If we do not do so, you should ask us for further clarification.

What information do you maintain in my file and can I examine my file?

We maintain a record of your personal profile that includes details of your investment objectives, financial situation and needs. We also maintain records of any recommendations made to you. If you wish to examine your file, you should ask us and we will make arrangements for you to do so.

We are committed to implementing and promoting a privacy policy which will ensure the privacy and security of your personal information. A copy of our privacy policy will be provided upon your request.

Can I tell you how I wish to instruct you to buy or sell my investment?

Yes. You may specify how you would like to give us instructions. For example, by telephone, fax or other means.

What kind of compensation arrangements are in place?

Terry Lee Financial Planners confirms that it has arrangements in place to ensure it continues to maintain Professional Indemnity insurance in accordance with s.912B of the Corporations Act 2001 (as amended). In particular our Professional Indemnity insurance, subject to its terms and conditions, provides indemnity up to the Sum Insured for Terry Lee Financial Planners and our representatives / employees in respect of our authorisations and obligations under our Australian Financial Services Licence. This insurance will continue to provide such coverage for any representative / employee who has ceased work with Terry Lee Financial Planners for a minimum of 7 years from the date of ceasing the relationship.

What should I do if I have a complaint?

We are committed to providing quality advice to our clients. This commitment extends to providing accessible complaint resolution mechanisms for our clients. If you have any complaint about the service provided to you, you should take the following steps:

  1. Contact your adviser and tell your adviser about your complaint.
  2. If your complaint is not satisfactorily resolved within 7 days please contact Terry Lee Financial Planners on (08) 9315 9249 or put your complaint in writing and send it to us at, Terry Lee Financial Planners, PO Box 846, Canning Bridge, WA 6153. We will try and resolve your complaint quickly and fairly.
  3. If we cannot reach a satisfactory resolution, you can raise your concerns with the Financial Ombudsman Service on 1300 780 808. Terry Lee Financial Planners is a member of this complaints resolution service. The Australian Securities & Investments Commission (ASIC) also has a freecall Infoline on 1300 300 630 which you may use to make a complaint or obtain information about your rights.

Terry gives real value to his clients

  • I felt very privileged attending your seminar. Your presentation was professional; relevant, inspiring and appreciated. 'Build a Capital Base' - these words have been ringing in my ears all day. Thank you for sharing your valuable knowledge and experience. I have taken responsibility for where I am today, and embark upon making a permanent change.

    - Andrew Sutherland Office Solutions
  • Terry has always been in my corner when it comes to wealth creation. He has ensured I invested regularly in investments that suited my needs and really helped me when I shifted from being an employee to self employed.

    - Rueben Taylor, ActionCOACH, Ph. 08 9325 1811
  • Mr Terry Lee (Financial Advisor) was recommended to us by a close friend. We have found that since Terry Lee has been our Financial Advisor we have been given good sound financial advice. Terry is always available to consult and constantly sends us updates on the status of our financial portfolio and recommendations for future investment. We are also advised of any upcoming Seminars that he feels would be of benefit to us. This constant "hands on approach" has been sadly missing from our previous Financial Advisors.

    - Mick Pitcher & Gail Williams, Pitwillow Alpacas, Ph. 08 9622 3411
  • I have known Terry Lee for over 15 years. I have found Terry to be sincere and competent in his activities. Terry has assisted with our company insurance and Terry has also assisted a number of our staff with their superannuation requirements. I am always eager to hear of what new products or developments Terry has up his sleeve and we were very excited to hear that he had become an author several years ago. When asked about Terry I think of a rare individual who combines self discipline with creativity, when he puts pen to paper invariably powerful messages are passed on. We wish Terry well in all his endeavours and we are proud to have him as an ally in business.

    - James Sutherland, Office Solutions IT , Ph. 0413 051 333
  • I have been a regular investor for over 20 years, Terry has always been very helpful with his advice and I trust his integrity in financial matters. Yours Sincerely

    - Ann Harrell,Ph. 08 62542919
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Quote from Terry Lee
  • “Financial literary can be learnt so anyone can stand on their own feet financially. We can provide a hand up…but not a hand-out!”

  • “Financial literary can be learnt so anyone can stand on their own feet financially. We can provide a hand up…but not a hand-out!”

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