Wholesale client acknowledgement
Please carefully read and complete this acknowledgement form in order for us to recognise you as a wholesale client of Partners Private Pty Ltd.
Requirements
In order for you to be treated as a wholesale client, you must satisfy one of the following criteria:
- You must be investing at least $500,000 in a financial product, or
- You must provide us with a certificate from a qualified accountant certifying that you meet certain financial tests (see below).
The accountant's certificate provided must certify that you satisfy one of the following criteria:
- You have net assets of at least $2.5 million, or
- You have gross annual income of at least $250,000 for each of the last 2 financial years.
The accountant's certificate must be issued by a qualified accountant (as that term is defined in the Corporations Act) and dated within the last two years, and you must provide us with an updated accountant's certificate prior to the two year anniversary of the date on which the certificate is signed, to remain recognised as a wholesale client.
If you are investing in the capacity of a company, or a Self Managed Super Fund, or a Trust with a corporate trustee, all directors or trustees will be required to meet the above definition, unless you have met the Controls Test and provide a resolution signed by all directors/trustees to evidence this.
Where you invest in the capacity of a SMSF or Trust, you are responsible for ensuring that any investment you make is within the terms and conditions of the Trust Deed under which you operate and compliant with the relevant legislation.
Acknowledgement and Declaration
By signing this form, I acknowledge, and declare, that I understand the following:
- You will treat me as a wholesale client when you provide financial services to myself, and or, my controlled entities.
- I will not receive any disclosure documents (such as a Financial Services Guide, Product Disclosure Statement, Prospectus, Fee Disclosure Statement or Statement of Advice) which I would receive if I were a retail client.
- Partners Private Pty Ltd will not be required to meet retail client obligations under the Corporations Act 2001 such as the obligation to act in my best interests, the obligation to provide me with appropriate advice, and the obligation not to receive conflicted remuneration.
- I have sufficient experience and understanding of financial services and financial products to read and understand the financial information and documentation I may receive, including disclosure documentation, and in instances where I do not understand any aspect of the documentation provided to me, I will NOT invest in any financial product to which it pertains.
- I have sufficient experience and understanding of financial services and financial products to assess the merits, value and risks of the financial services and financial products provided to me. Where I choose to make an investment, I do so at my own discretion, without seeking or obtaining financial advice from Partners Private Pty Ltd.
- I may lodge a complaint about your services with the Australian Financial Complaints Authority (AFCA). I understand that AFCA has the discretion to exclude complaints made by wholesale clients.
Purpose and scope of the Engagement
Partners Private will provide you with a no-advice engagement model offering opportunities to invest in our wholesale market services, which will be conducted in accordance with the relevant professional and ethical standards issued by the Australian Securities and Investments Commission (ASIC). The extent of our procedures and services will be limited exclusively for this no-advice purpose only. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities, including fraud, other illegal acts and errors that may exist.
Period of Engagement
This engagement will commence on the date your application is confirmed. Your eligibility will be reassessed periodically to ensure you continue to meet legislative requirements.
Privacy
At Partners Private Pty Ltd (ABN 72 134 627 375), we are committed to protecting your privacy. We collect personal information about you when you contact us, use our services, or visit our website. We will only ask you for the information we reasonably need to provide our services to you.
We may also collect information about you from other people and organisations, including other Partners Wealth Group entities, our authorised representatives, referral partners, and through publicly available sources of information.
We use your personal information to deliver our services, manage our relationship with you, and for administrative and promotional activities. We may share your information with other Partners Wealth Group entities, as well as third parties, such as services providers, authorised representatives, product providers, industry associations, and government bodies.
Sometimes, we may have to send your information overseas, including to our staff in the Philippines who support the administration of applications, and to service providers who store data or operate outside Australia.
You are not required to give us your personal information, but if you choose not to disclose your personal information, we may be unable to provide you with the services you require.
We do not sell, trade, or rent your personal information to others for any reason.
Our Privacy Policy contains more detailed information about how we collect, use, store and share your personal information. It also contains information about how to access and correct the information we hold about you, and how to make a complaint about a breach of your privacy.
You can access our Privacy Policy on our website https://www.partnersprivate.com.au/ or by contacting our Head of Risk and Compliance at issue@pwg.com.au
Correcting your personal information
We will amend any personal information about you that is held by us and that is inaccurate, incomplete, or out of date if you request us to do so.
Storage and security of your personal information
We are committed to maintaining the confidentiality of the information that you provide us, and we will take all reasonable precautions to protect your personal information from unauthorised use or alteration. In our business, personal information may be stored both electronically (on our computer systems and with our website hosting provider) and in hard-copy form.
Involvement of Others
Where, as part of our engagement, the services of external consultants or experts are required, an estimated cost and timeframe will be provided to you for your approval.
Outsourced Services
In order to provide services to you, Partners Private Pty Ltd may, from time to time, provide your personal information to service providers and contractors overseas, including the Philippines, in accordance with its Privacy Policy.
If your personal information is not collected, we may be unable to provide our services to you or facilitate the provision of related financial and professional services.
Acceptance of our services indicates your acceptance of the use of outsourced services as described. Where the outsourced service requires the disclosure of personal information to an overseas recipient, a consequence of your consent, is that Partners Private Pty Ltd will be required to take reasonable steps to ensure that the Australian Privacy Principles are complied with by the overseas recipients of the Personal Information.
Referral Fees
As part of our engagement with you, we may refer to you investment opportunities. Partners Private may receive remuneration or payments in relation to these investment opportunities, which may be calculated in reference to your investment. Where you have been referred to us by someone else, we may pay them a fee, commission or some other benefit in relation to their referral. We may pay referral partners up to 50% of any initial fees we receive. You acknowledge the existence of these arrangements and by choosing to invest in a product introduced by Partners Private Pty Ltd you consent to, and authorise us to receive, any such payments or remuneration.
Ownership of Documents
All original documents obtained from you arising from the engagement shall remain your property. However, we reserve the right to make a reasonable number of copies of the original documents for our records.
Our engagement may result in the production of various personal documents. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain our property, subject to any statutory obligations.
Partners Private Pty Ltd has a policy of exploring a legal right of lien over any client documents in our possession in the event of a dispute. The firm has also established dispute resolution processes.