This Financial Services Guide describes the services provided by EASICOVER PTY LTD (Authorised Representative of Brookvale Insurance Brokers Pty Ltd).
It is designed to help you decide whether to use our services. It explains:
- how we are remunerated
- how complaints are handled
- how conflicts of interest are managed
This is an important document. Please read it carefully and keep it in a safe place.
If we offer to arrange an insurance policy for you, or provide personal advice recommending a particular policy, we will give you a Product Disclosure Statement (PDS). The PDS contains important information about policy features to help you decide whether to buy the policy.
Financial Services Covered by This FSG
EASICOVER PTY LTD
ABN 74 684 264 257
Authorised Representative Number 1316412
Of
Brookvale Insurance Brokers Pty Ltd
ABN 22 002 566 743
AFS Licence Number 234521
If You Are a Retail Client and We Give Personal Advice
When we provide personal financial advice, we will issue a Statement of Advice (SOA).
We take into account your current financial situation and future needs. In the SOA, we will tell you about:
- our fees and commissions
- any associations we have with Financial Product Issuers or other parties that may have influenced our advice
Who Is Responsible for the Financial Services Provided?
Brookvale Insurance Brokers Pty Ltd is responsible for the financial services provided, including distribution of this Financial Services Guide (FSG).
What Kind of Financial Services Are We Authorised to Provide?
We are authorised to advise on and deal in general insurance products only.
Compensation Arrangements
Brookvale Insurance Brokers Pty Ltd has a Professional Indemnity Insurance Policy (PI Policy) in place.
This policy covers claims made against us and our representatives by clients resulting from the conduct of us, our employees, or our representatives in the provision of financial services.
What Information Should I Provide to Receive Personalised Advice?
You should provide:
- your personal objectives
- details of your current financial situation
- any other relevant information
This helps us provide the most appropriate advice possible.
You may choose not to provide this information. However, if you do not, the advice may not be appropriate to your needs, objectives, and financial situation.
You should read all warnings in the Statement of Advice carefully before making any decision about a financial product.
What Information Do You Maintain in My File, and Can I Examine It?
We maintain records of:
- your personal profile
- your objectives, financial situation, and needs
- recommendations made to you
We are committed to privacy and information security. A copy of our privacy policy is available at www.bib.com.au.
If you require a copy, please call us. If you wish to examine your file, please ask us and we will make arrangements.
How Can I Give Instructions About My Financial Products?
You may tell us how you prefer to give instructions (for example, by telephone). However, all instructions should be confirmed in writing.
Cooling Off Period
A cooling off period may apply to an insurance policy issued to you as a retail client. During this period, you may return the policy.
Details of cooling off rights are included in the relevant Product Disclosure Statement.
Cancellation
If cover is cancelled before policy expiry and after the cooling off period, we will refund only the net return premium (excluding commissions) we receive from the insurer.
Fees may also be charged.
Will Anyone Be Paid for Referring Me to You?
If you were referred to us and we pay a fee or commission for that referral, we will disclose in the Statement of Advice:
- who receives the fee or commission
- how much they receive
What Should I Do If I Have a Complaint?
1) Contact us
Tell us about your complaint. Brookvale Insurance Brokers Pty Ltd is a member of the Australian Financial Complaints Authority (AFCA).
2) Escalate to our Complaints Officer
If your complaint is not resolved satisfactorily within 21 days, contact:
Michael Olofinsky
Phone: 9934 9700
Or write to:
Brookvale Insurance Brokers Pty Ltd
54 Balgowlah Road, Balgowlah NSW 2093
We will try to resolve your complaint quickly and fairly.
3) Contact AFCA
If you are not satisfied with our response, you may lodge a complaint with AFCA:
Online: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 937 671
Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
How Will I Pay for Services?
You may pay us a fee. Alternatively, we may receive commission paid by the Financial Product issuer(s).
Lack of Independence
We are not independent, impartial, or unbiased because we or our representatives/associates may receive remuneration, gifts, or other benefits from:
- the issuer of the product you buy (for example, retained commission), or
- other third parties for related services connected with personal advice (for example, premium funding)
These benefits may reasonably be expected to influence the personal advice provided to you.
However, when providing personal advice, we are required under the Corporations Act to always act in your best interests. We also maintain policies and procedures for proper conflict management. You can ask us for more detail.
How Are Commissions, Fees, or Other Benefits Calculated?
Generally, payment we receive is based on the amount you pay and may vary between Financial Product issuers.
If you receive personal advice, we will disclose commissions, fees, and other benefits (where possible, in actual dollar amounts) in your Statement of Advice before we act on your instructions.
Commission
Commission is a percentage of the insurer’s base premium (excluding stamp duty, fire services levy, GST, and other government charges, taxes, fees, or levies).
- Typical range: 0% to 30%
This reimburses us for administrative and service costs, including distribution functions such as data entry, marketing, annual review, and underwriting support.
Fees paid by you
We may charge:
- an admin fee in addition to commission when you enter an insurance policy
- a flat fee for arranging a policy, or a time-based advisory fee
- an annual management fee
Steadfast Group Distribution
Brookvale Insurance Brokers is a Steadfast Group Limited (Steadfast) Network Broker.
Steadfast has exclusive arrangements with some insurers and premium funders (Partners), where Steadfast may receive 0.5% to 1.5% commission for products we arrange with those Partners. Steadfast is also a shareholder of some Partners.
As a Steadfast Network Broker, we can access member services including:
- compliance tools, procedures, manuals, and training
- legal, technical, banking, and recruitment support
- group insurance arrangements
- product comparison and placement support
- claims support and group purchasing arrangements
These services may be funded by Steadfast, subsidised by Steadfast, or available exclusively to network brokers for a fee.
You can obtain a copy of Steadfast’s FSG at www.steadfast.com.au.
Premium Funding
Our commission rates for premium funding are in the range of 0.0% to 2.5% of funded premium.
When we arrange premium funding, you can ask us what commission rates we are paid for that arrangement compared with alternatives available to you.
The amount of our commission and any fee charged will be set out in the premium funding contract.
Asset Risk Management Pty Ltd has entered into a volume agreement with Iqumulate Premium Funding Pty Ltd that may result in an additional benefit of 0.025% of premium funded.
Interest
We earn and retain interest on trust account funds.
Profit Share Programs
We do not participate in any profit share programs with insurers.
Any Questions?
If you have further questions about the financial services provided by Brookvale Insurance Brokers Pty Ltd, please contact:
Craig Olofinsky
Phone: 9934 9700
Please retain this document for your reference and any future dealings with Brookvale Insurance Brokers Pty Ltd.
