PRIVACY POLICY
RETIREWELL FINANCIAL PLANNING PTY LTD
1. Election to be bound by the National Privacy Principles .
Retirewell Financial Planning Pty Ltd (Retirewell) abides by the National Privacy Principles established under the Privacy Amendment (Private Sector) Act, 2001. The Act came into force on 21 st December, 2001.
2. Type of Personal Information Usually Required .
2.1 As a financial planning organisation, we are subject to certain legislative and regulatory requirements which necessitates us to obtain and hold detailed information which personally identifies you (“personal information”) and/or contains information or an opinion about you (“sensitive information”). Our ability to provide you with a comprehensive financial planning and advice service is dependent on us obtaining this information about you.
2.2 The type of information we typically collect is summarised below:
(a) Employment details and history
(b) Family details
(c) Health details
(d) Education details
(e) Details of your financial needs & objectives
(f) Details of your current & historical financial circumstances, including your assets and liabilities (actual and potential), income, expenditure, insurance details and superannuation
(g) Estate Planning details
(h) Attitude to risk and investment preferences
(i) Social Security details
(j) Taxation details
(k) Other information as appropriate
3. Difficulties that May Arise When the Required Information is not Provided .
3.1 We are required pursuant to the Corporations Act and Rules of Professional Conduct of the Financial Planning Association of Australia Limited to collect sufficient information to ensure appropriate advice can be given in respect of recommendations made to our clients.
3.2 If you elect not to provide us with the personal information referred to above, we may elect not to proceed since we may be unable to provide adequate and appropriate advice.
4. Information Collection Policies (NPP1) .
4.1 We will not collect any personal information about you except when you have knowingly provided that information to us, or authorised a third party to provide that information to us (eg. your Accountant, or Solicitor).
4.2 From time to time, additional or up-dated information may be collected.
4.3 We will only collect, maintain and use your personal and sensitive information if it is necessary for us to adequately provide you with the required services, including:
(a) the preparation of your financial plan;
(b) the provision of financial planning advice to you;
(c) making securities and investment recommendations;
(d) reviewing your financial plan;
(e) reviewing securities and investment recommendations;
(f) other purposes which we consider necessary for your financial well being
5. Use and Disclosure Policies (NPP2) .
5.1 We will not use or disclose personal information collected by us for any purpose other than:
(a) The purposes for which it was provided, or secondary related purposes in circumstances where you would reasonably expect such use or disclosure
(b) Where you have consented to such disclosure
(c) Where the National Privacy Principles authorise use or disclosure where required or authorised under law (relating to public health and safety, and certain operations by or on behalf of an enforcement body).
5.2 We are required under the Rules of Professional Conduct of the Financial Planning Association of Australia to make certain information available for inspection by the Association on request, to ensure ongoing compliance with mandatory professional standards. This may involve the disclosure of your personal information.
5.3 We are also obliged pursuant to the Corporations Act to maintain certain transaction records and make those records available for inspection by the Australian Securities and Investments Commission.
5.4 We may disclose your personal information to another financial planner during periods when your adviser is unavailable or when this office is unmanned or closed, so that you can be assured of receiving continued service.
5.5 We may disclose your Personal Information to superannuation fund trustees, insurance providers, and product issuers for the purpose of giving effect to your financial plan and the recommendations made by us.
5.6 In order to ensure that you receive a personal and tailored service, your Personal Information may be made available by your Retirewell adviser to other employees or Authorised Representatives within Retirewell. It is a condition of our agreement with each of our employees and Representatives that they adopt and adhere to this privacy policy. You can be assured that your information will be maintained by every Retirewell representative in accordance with this policy.
5.7 We may disclose your personal information to external contractors for the following purposes:
i) preparation of tax returns
ii) preparation of Wills, Enduring Powers of Attorney
iii) stockbroking advice
iv) administration of self-managed superannuation funds
It is a condition with each of our external contractors that they adopt and adhere to this privacy policy. You can be assured that your information will be maintained by any contractor to whom it is disclosed in accordance with this policy.
5.8 In the event that Retirewell or any of its advisers propose to sell their business, we may disclose your personal information to potential purchasers for the purpose of them conducting due diligence investigations. Any such disclosure will be made in confidence and it will be a condition of that disclosure that no personal information will be used or disclosed by them. In the event that a sale of part or all of our business is effected, we may transfer your personal information to the purchaser of the business. As a client, you will be advised of any such transfer.
6. Storage and Security Policies and Practices (NPP4) .
6.1 Your personal information is generally held in your personal client file which is stored in a lockable cabinet, as well as in our computer database. All computer based information is protected through the use of access passwords on each computer. Data is backed up each evening and stored securely off site.
6.2 We will at all times seek to ensure that the personal information collected and held by us is protected from misuse, loss, unauthorised access, modification or disclosure. At all times your personal information is treated as confidential, and any sensitive information is treated as highly confidential.
6.3 In the event you cease to be a client of this organisation, any personal information which we hold about you will be maintained in a secure storage facility for a period of 7 years in order to comply with legislative and professional requirements, following which time, the information will be destroyed.
7. How to Gain Access to your Personal Information (NPP5) .
7.1 You may request access to your personal information and we will (subject to exceptions covered in the legislation) provide you with access to that information either by providing copies of the information requested or by allowing you to inspect the information requested.
7.2 There are some circumstances under which access to your personal information may not be provided eg where such access would pose a serious threat to the life or health of a person, or may have an unreasonable impact on the privacy of others, is considered frivolous or vexatious, would be unlawful or would reveal intellectual property of Retirewell.
7.3 In the event we refuse you access to your personal information, we will provide you with an explanation for that refusal.
8. Access and Correction Policies and Procedures (NPP6) .
8.1 We will endeavour to ensure that at all times, the personal information about you which we hold is up to date and accurate. In the event that you become aware, or believe that any personal information which we hold about you is inaccurate, incomplete or outdated, you may provide us with the correct information. We will take all reasonable steps to ensure that the correct information is recorded in our files.
8.2 We will endeavour to respond to any request for access within 14 days depending upon the complexity of the information and/or the request.
9. How to Make a Privacy Complaint .
We are committed to providing our clients access to a fair and responsible system for the handling of their complaints. If you wish to complain about any breach or potential breach of this privacy policy or the National Privacy Principles, you should contact us in writing and direct the complaint to Retirewell's Privacy Officer. Your complaint will be considered within 7 working days and responded to. It is our intention to use our best endeavours to resolve any complaint to your satisfaction. However, if you are unhappy with our response, you are entitled to contact the Office of the Privacy Commissioner who may investigate your complaint further. The website address of the Office of the Federal Privacy Commissioner is http://www.privacy.gov.au
10. Contact Details
- Privacy Officer: AD (Tony) Gillett, Principal
- Address: Retirewell Financial Planning Pty Ltd
- Level 24, 141 Queen St (Cnr Albert St)
- BRISBANE QLD 4000
- Telephone: (07) 3221 1122 Facsimile: (07) 3221 3322
- email: retirewell@retirewell.com.au
