We appreciate that as a customer you trust us with your personal information, and we are committed to safeguarding your privacy.
Money Mechanics and Patron Financial Advice abides by the National Privacy Principles established under the Privacy Amendment (Private sector) Act, 2001. A summary of the National Privacy Principles is available by contacting our office.
We are committed to safeguarding the privacy of our customers. We appreciate that as our customer, you trust us with your personal information. In handling your personal information, we are bound by the National Privacy Principles in the Privacy Act and, where applicable, the policies and codes of industry groups to which we belong. This policy explains our general practices in handling personal information. If you need further information, have questions about our privacy practices or wish to gain access to your personal information, please contact us.
As a financial planning organisation we are subject to certain legislative and regulatory requirements which necessitate us obtaining and holding detailed information which personally identifies you and/or contains information or an opinion about you. In addition, our ability to provide you with a comprehensive financial planning and advice service is dependent on us obtaining certain personal information about you, including:
– employment details and history;
– details of your financial needs and objectives;
– details of your current financial circumstances, including your assets and liabilities (both actual and potential), income, expenditure, insurance cover, tax returns and superannuation;
– details of your investment preferences and aversion or tolerance to risk;
– information about your employment history, employment circumstances, family commitments and social security eligibility;
– tax file number;
– names, ages, and addresses of your dependants or beneficiaries;
– health information;
– other information you have given us;
– Your financial and lifestyle goals and aspirations;
Failure to provide the personal information referred to above may expose you to higher risks in respect of the recommendations made to you and may affect the adequacy or appropriateness of advice we give to you.
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.
Generally, collection of your personal information will be effected in either face to face interviews, over the telephone or via online means. From time to time additional and/or updated personal information may be collected through one or more of those methods.
Use and Disclosure of Information Collected
We will only collect, maintain and use personal information about you if it is necessary for us to adequately provide to you the services you have requested, which may include:
– The preparation of your financial plan;
– The provision of financial planning advice to you;
– Making securities and investment recommendations;
– Making insurance and superannuation recommendations;
– Reviewing your financial plan;
– Reviewing securities and investment recommendations;
– Reviewing insurance and superannuation recommendations;
– Other activities as directed by you.
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.
We are also obliged as a condition of our licence to make your records available for inspection by internal Compliance staff.
We may use the personal information collected from you for the purpose of providing you with direct marketing material such as articles that may be of interest to you. However, you may, by contacting us, request not to receive such information and we will give effect to that request. Please allow two weeks for your request to be actioned.
We may disclose your personal information to another financial adviser during periods when this office is unmanned or closed so that you can be assured of receiving a continued service.
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.
We may disclose your personal information to external contractors for the following purposes:
– Strategy development;
– Compliance monitoring.
In the event that we propose to sell our 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 our business is affected, we may transfer your personal information to the purchaser of the business. As a client you will be advised of any such transfer.
In the event that a Representative of PATRON Financial Advice ceases to act on behalf of PATRON and moves to another Australian Financial Services Licence (AFSL), your personal information will be retained by the Representative to act under the new AFSL. As a client you will be advised of any such transfer and will be given an opportunity to alter this arrangement.
Money Mechanics & Patron Financial Advice will take reasonable steps to ensure that the personal information it collects, uses or discloses is accurate, complete and up to date.
Your personal information is generally held in your client file. Information may also be held in a computer database.
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.
All paper files are stored in a secure location and where practical are stored in lockable filing cabinets.
In the event you cease to be a client of this organisation, any personal information which we hold about you will be securely maintained for a period of seven years in order to comply with legislative and professional requirements, following which time the information will be destroyed.
Access to Information Collected
You may at any time, by contacting us request access to your personal information and we may provide you with access to that information. However, there are limited circumstances in which access to an individual’s personal information will be allowed.
We will not provide you with access to your personal information if:
– providing access would pose a serious threat to the life or health of a person;
– providing access would have an unreasonable impact on the privacy of others;
– the request for access is frivolous or vexatious;
– the information related to existing or anticipated legal proceedings between us and – would not be discoverable in those proceedings;
– providing access would reveal our intentions in relation to negotiations with you in such a way as to prejudice those negotiations;
– providing access would be unlawful;
– denying access is required or authorised by or under law;
– providing access would be likely to prejudice certain operations by or on behalf of an enforcement body or an enforcement body requests that access not be provided on the grounds of national security.
If access to information is denied, Money Mechanics and PATRON Financial Advice will provide reasons for the denial. All requests for access will be acknowledged within 14 days.
Correction of Information
We will endeavor to ensure that, at all times, the personal information about you which we hold is up to date and accurate. Therefore, you are encouraged to contact us and advise of any change in your personal circumstances that may affect your dealings with Money Mechanics or PATRON Financial Advice.
Money Mechanics and PATRON Financial Advice have in place facilities to properly consider and deal with any enquiries or complaints if you believe the privacy of your personal information has been compromised. Money Mechanics and PATRON Financial Advice will respond to all complaints within seven days and aim to have them resolved within ten days where possible. Where this is not possible, you will be contacted and advised when it is likely that your complaint will be resolved.
You are entitled to obtain access to the information which we hold about you by contacting the office on 1300 772 643 or by writing to either:
GPO Box 1401 Canberra ACT 2601
PATRON Financial Advice
PO Box 1370 Parramatta NSW 2124
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.