Privacy Policy

Introduction

Profile Financial Services Pty. Ltd. (‘PFS’) recognises that your privacy is very important to you, as it is to us. PFS complies strictly with the requirements of the Privacy Act (1988) and is committed to supporting the Australian Privacy Principles (APPs) set out in the Privacy Amendment (Enhancing Privacy Protection) Bill 2012. The 13 Australian Privacy Principles are grouped into five parts:

  • Part 1 – Consideration of personal information privacy (APPs 1 and 2)
  • Part 2 – Collection of personal information (APPs 3, 4 and 5)
  • Part 3 – Dealing with personal information (APPs 6, 7, 8 and 9)
  • Part 4 – Integrity of personal information (APPs 10 and 11)
  • Part 5 – Access to, and correction of, personal information (APPs 12 and 13)

This Privacy Statement addresses how personal information you provide PFS is collected, held, used, corrected, disclosed and transferred. You can obtain more information on request by contacting PFS directly via any of the methods below.

PFS reviews this Privacy Statement annually to ensure it maintains practices, procedures and systems that comply with the APPs and deals with related inquiries and complaints.

Collection

PFS, as a financial planning firm is subject to certain legislative and regulatory requirements, which necessitate obtaining and holding detailed information, which personally identifies you and/or contains information or an opinion about you (“personal information”). In order to provide you with comprehensive financial planning and advice, PFS requires certain personal information about you, including:

  • contact details;
  • proof of identity;
  • employment details and employment 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 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;
  • medical history and health information for risk insurance applications.

In order to comply with the requirements of the Privacy Act, we are required to advise you that this firm may hold some or all of this information about you. PFS collects personal information directly from you by way of face to face interviews, a Fact Finder form, telephone conversations and email communications. Profile may also collect personal information from list purchases, referrals from individuals and referrals from businesses such as your Accountant.

The information has been and will continue to be collected by us for the purpose of providing you with financial services including:

  • the preparation of your financial strategy;
  • the provision of financial planning advice to you;
  • making securities and investment recommendations;
  • reviewing your financial strategy and securities and investment recommendations;
  • the provision of risk insurance advice and cover;
  • debt reduction;
  • estate planning strategies and advice; and/or
  • for other related matters.

The Corporations Act and Rules of Professional Conduct of the Financial Planning Association of Australia require us to collect sufficient information to ensure appropriate advice can be given in respect of recommendations made to our clients. If you elect not to provide us with the personal information referred to above, we may terminate our services to you if we believe we are unable to provide you with the services requested in a compliant and value-add manner. Therefore PFS is not able to act on your behalf if you wish to remain anonymous or use a pseudonym when dealing with us.

If we need to obtain sensitive information from you, such as health details for insurance applications, we will ask for your consent, unless an exception applies under Australian law.

PFS will destroy or de-identify all unsolicited personal information received, where we determine that the information could not have been collected under the Australian Privacy Principles. Unsolicited personal information includes extra information you might send to us that has not been requested for the financial service currently being provided for you.

Use and disclosure

We will not use or disclose personal information collected by us for any purpose other than:

  • the purposes for which it was provided or secondary related purposes in circumstances where you would reasonably expect such use or disclosure; or
  • where you have consented to such disclosure; or
  • where the Australian Privacy Principles authorise use or disclosure where required or authorised under law, in circumstances relating to public health and safety and in connection with certain operations by or on behalf of an enforcement body.

Additionally the Rules of Professional Conduct of the Financial Planning Association of Australia may require PFS 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.

The Corporations Act further requires PFS to maintain certain transaction records and make those records available for inspection by the Australian Securities and Investments Commission. Profile may also be required to provide certain personal information to third parties under the Anti-Money Laundering (AML) and Counter-Terrorism Financing Act (2006).

PFS may use 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. If you do not wish to receive such information you may request not to receive it, by advising us via any of the methods detailed below. Please allow 2 weeks for your request to be actioned.

Personal information may be disclosed 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.

PFS ensures a high level of service to its clients by ensuring that other PFS representatives and staff have access to client information for the purposes of assisting you as necessary during periods of absence of your adviser or to field administrative enquiries. It is a condition of employment at PFS that all representatives and staff adopt and adhere to this privacy policy.

External contractors must adopt and adhere to our privacy policy as a condition of their ongoing services to the business. You can be assured, that your information will be maintained in accordance with this policy by any contractor to whom it is disclosed.

In the event that we propose to sell our business we may need to disclose some of 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 effected, we may transfer your personal information to the purchaser of the business. As a client you will be advised of any such transfer.

PFS will only use your personal information for the main purpose we told you it was needed for, except where you consent to us using that personal information for another purpose, where the other purpose is related to the main purpose and you would reasonably expect us to use the personal information for that other purpose, or where it is permitted or required by law, or we reasonably believe it is necessary on health or public safety grounds to use the personal information for another purpose.

Access and correction

You may enquire at any time what personal information is held about you, and what we do with it. On receipt of your request PFS will facilitate access to you by allowing an inspection of your personal information in person, or by providing copies or an accurate summary of relevant documents, depending on what is most appropriate in the circumstance. We try to make your information available within 30 days of your request. Prior to providing this access we will require you to provide evidence of your identity. Any charge we make for providing access will be reasonable.

We will not provide you access to personal information which would reveal any confidential formulae or the detail of any in house evaluative decision making process, but may instead provide you with the result of the formulae or process or an explanation of that result.

We will not provide you with access to your personal information if:

  • providing access would pose a serious threat to the life, health or safety of a person, or to public health or public safety;
  • 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;
  • we have reason to suspect that unlawful activity, or misconduct of a serious nature, that relates to our functions or activities has been, is being or may be engaged in and giving access would be likely to prejudice the taking of appropriate action in relation to the matter;
  • 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; or
  • giving access would reveal evaluative information generated within PFS in connection with a commercially sensitive decision‑making process.

An explanation will be provided in the event that personal information requests are refused.

Every effort is to be made to ensure that personal information held is accurate, up-to-date and complete. In the event that you or PFS finds that personal information held is inaccurate, out-of-date or incomplete we will take all reasonable steps to correct the information. If we do not agree that your personal information requires correcting, we will advise you in writing, generally within 30 days, and take reasonable steps to ensure that whenever your personal information is accessed it is apparent that you are not satisfied as to the accuracy or completeness of that information.

Please contact the Compliance Manager using our online form to seek correction of your personal information.

Security

PFS representatives and staff may ask you to answer 2 [or more] questions regarding your identity to help protect your personal information during non face-to-face communications, such as telephone calls.

Personal information is generally held in client files and on computer databases.

PFS regularly reviews information security to ensure personal information is protected from misuse, interference, loss, unauthorised access, modification or disclosure. At all times personal information is treated as confidential and any sensitive information is treated as highly confidential. All paper files are stored in lockable cabinets/rooms. Access to PFS premises is tightly controlled and security systems are in place within the building.

All computer-based information is protected through the use of firewalls, access passwords on each computer and screen saver passwords. Data is regularly backed up and stored securely off site.

In the event you cease to be a client of this organisation, any personal information which we hold about you will be maintained in our 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.

Online considerations

Information is gathered as a result of visits to PFS’s website including, time and date, server address, pages accessed, time spent and type of browser. This information is used in an anonymous form for statistical purposes and as such cannot identify you individually. When you log into the client section of our site, we may use cookies to identify who you are, while you are logged in for the session. The cookie is unique to that session, and the data within the cookie is encrypted.

Government related Identifiers

We will not adopt as our own any identifiers that you may provide to us such as Tax file numbers (TFNs), Medicare numbers, Centrelink reference numbers and driver licence numbers. PFS will not use or disclose a government related identifier of an individual unless authorised by Australian law.

Sending data overseas and third party websites

PFS does not send any personal information about clients overseas unless:

  • you consent to this,
  • we reasonably believe that the other country has privacy laws substantially similar to our own,
  • we take reasonable steps to ensure any overseas recipients of personal information do not breach the Australian Privacy Principles, or
  • we are required under Australian law.

Our website may contain links to other websites. When visiting these websites be sure to check the privacy policy as we are not responsible for privacy practices of those other parties.

Complaints resolution

If you wish to complain about any breach or potential breach of this privacy policy or the Australian Privacy Principles, you should contact our Compliance Manager by one of the methods detailed below. Your complaint will be considered and responded to within 14 days. We will seek to address any concerns that you have through our complaints handling processes. If you are unhappy with our response, you are entitled to contact the Financial Ombudsman Service (FOS), an external dispute resolution (EDR) recognised under the Privacy Act, which may investigate your complaint further. Privacy complaints can also be made to the Office of the Australian Information Commissioner (OAIC).

Further details of the complaints resolution process are included in the Financial Services Guide (FSG) available on our website.

Contact Us

If you seek any further information from PFS about this statement or our privacy policy generally, please contact the Compliance Manager using our online form or one of the contact methods below:

Email: admin@profileservices.com.au

Telephone: 02 9683 6422

Facsimile: 02 9683 4658

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