Date Issued: 5 February 2025
(To download a PDF version, please click here)
We are providing you with this Website Disclosure Information to comply with the law, but more importantly, to make sure we are all approaching our relationship in a spirit of understanding and common purpose. The purpose of this information is to assist you in deciding whether to use any of the financial services we offer.
Below we provide some important information about:
We ask you to read this information carefully and let us know if you have any questions or comments.
Service Agreement
The Service Agreement sets out in detail the professional services which will be provided by Goodman Private Wealth Ltd, the terms and conditions under which those services will be provided and our remuneration structure. This agreement will be tailored to suit your individual circumstances.
Statement of Advice
We will provide you with a Statement of Advice (SOA) whenever we give personal advice about a financial product which takes into account your objectives, personal situation, preferences and needs. The purpose of the SOA is to provide you with our advice in writing, the basis on which it is given, and information about costs you will incur from implementing the advice.
Record of Advice
After providing you with a SOA, provided there has been no significant change to your personal circumstances, any ongoing personal advice that we provide to you about a financial product will be documented in a Record of Advice (ROA). A ROA would ordinarily be provided to you in writing, except where the advice is unusually simple, or you have requested not to receive such documents in writing. In these circumstances, the costs and any disadvantages of following our advice will be provided to you verbally. You may request a record of ongoing personal advice we provide to you, where we have not given you an ROA, by contacting us in writing or by email. Our contact details are provided on this website.
In the event that you have agreed to a Limited Managed Discretionary Account service (MDA service), a ROA will not be provided on investment advice. Please refer to the further information provided about our MDA service.
Product Disclosure Statement
We will provide you with a Product Disclosure Statement (PDS) when we make recommendations relating to a specific financial product. For example, a PDS will be provided for managed funds and insurance and personal superannuation account products but will not be issued for direct share investments. The purpose of a PDS is to provide you, in writing, with information about the particular product, including features, benefits, fees and risks. This information will assist you in making an informed decision.
All documents will be retained on your client file at our office for a period of at least seven years from the date of advice. You may obtain a copy of any document without charge by contacting us within this period and requesting one be provided to you.
Goodman Private Wealth Ltd is a long-established professional firm.
The firm holds an Australian Financial Services Licence (AFSL) Number 238363 and has strong professional affiliations.
The origins of our firm are in chartered accounting, but the company was founded in 1987 to focus exclusively on financial planning. Since that date, we have provided our professional services to a limited number of clients.
Brad Church
Chief Executive & Senior Adviser
Brad Church is a Director of the firm. Among his academic and professional qualifications, Brad:
James Goodman
Senior Adviser
James Goodman is a Director of the firm. Among his academic and professional qualifications, James:
Rocco Costa
Senior Adviser
Rocco is a senior adviser at the firm. Among his academic and professional qualifications, Rocco:
Sharyn Besch
Financial Planning Subject Matter Expert
Sharyn holds the role of Financial Planning Subject Matter Expert at the firm. Among her academic and professional qualifications, Sharyn:
In advising you, our advisers will be acting on behalf of Goodman Private Wealth Ltd and it is the firm that is responsible for the advice you receive.
You can instruct us in writing or by email. Our postal and email contact details are provided on this website.
Goodman Private Wealth Ltd is licensed to offer the following financial services:
The firm provides financial product advice and deals in:
We offer a comprehensive range of financial services designed to help you put your financial house in order and then keep it that way forever.
We do this by having a clearly structured process for meeting with you to firstly develop a Financial Road Map, and then meeting with you regularly each year to ensure that you are making progress. That is why, when you engage us, you are committing to a long-term relationship and not just financial product advice. The result is that you have the highest level of confidence that no matter what happens in the markets, the economy or the world, you can achieve your goals.
Below we provide more details about the comprehensive financial planning services you can expect to receive through our structured meeting process.
Financial Road Map Meeting
At our first meeting with you we will develop your Financial Road Map. This meeting will help put things in perspective by facilitating a discussion about what’s important to you and your personal goals. Your Financial Road Map becomes a living document that helps you make better decisions about money, by aligning your financial choices with your most deeply held values and your most important goals.
After we have determined that there is a basis for working together, we take your Financial Road Map and create a comprehensive lifetime financial plan. This plan considers all the strategies that are required to help you make your Financial Road Map a reality and culminates in a comprehensive step-by-step plan of action. This plan of action is implemented over time and regularly reviewed at ongoing progress meetings.
Ongoing Progress Meetings
We will conduct at least one progress meeting each year to deliver everything we promise and to hold you accountable to all the promises you make to yourselves and your family. Through the actions that are agreed at these meetings, we will help you put your financial house in order and keep it that way forever.
Our commitment to you will be agreed, in writing, by our Service Agreement but as a minimum, we will deliver the following:
A minimum of one meeting each year that will cover:
Reports you will receive at the meetings will include:
We offer a limited type of Managed Discretionary Account service (MDA service) where you allow us to manage your investments for you, using our discretion and without obtaining your instructions before each transaction we undertake on your behalf. These services are limited to the Limited Power of Attorney and ‘Authority to Operate’ facilities within regulated platforms where you have an account. Please note, these facilities do not authorise us to open new accounts, withdraw funds, or contribute new funds to your investment.
What are the significant risks associated with using a MDA service?
By authorising us to make changes to your investments without seeking your prior authority, you cannot claim we were not acting on your behalf. Provided we act within that authorisation, our acts become binding on you. Therefore, it is important you understand what we are authorised to do and carefully read and understand the activities that you are authorising us to perform on your behalf.
How can I give you instructions on how to exercise rights relating to the financial products in my portfolio?
Generally, the financial products which we invest in on your behalf do not have any additional rights or entitlements attached to them. However, if there are, we will let you know and you can provide us with instructions at the time as to how you wish for us to proceed. You can instruct us in writing or by email. Our postal and email contact details are provided on this website.
Do I have to enter into a contract for you to provide MDA Services?
Yes. As of 11 December 2004, to receive MDA services you must first enter into a MDA Contract. This contract will set out the terms and conditions of the authority and also the investment program, which sets out how your money will be invested.
Who prepares the investment program?
We will prepare the investment program for you based on your relevant personal circumstances, financial objectives and needs.
Will the investment program in the MDA Contract comply with the law?
Where this is relevant, the investment program set out in the MDA Contract will comply with the law. The relevant law is Division 3 of Part 7.7 of the Corporations Act.
The contract will also contain:
Who is responsible for reviewing the investment program?
We are responsible for reviewing your investment program. We will review your investment program at least once every 13 months.
Do you provide custodial or depository services for my portfolio?
We do not provide custodial or depository services. Either you will hold the investments in the portfolio, or the custodian nominated for the regulated platform will hold them for you and buy and sell your investments in accordance with our instructions.
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Did you know? Small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns. To find out more If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www.moneysmart.gov.au) has a managed investment fee calculator to help you check out different fee options. |
Fees and other costs
This section shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment, or from the assets held within the MDA Service arrangement as a whole.
Taxes are discussed below.
You should read all the information about fees and costs because it is important to understand their impact on your investment.
In relation to your investment portfolio we manage for you we advise the following fees and costs will be incurred in the normal course of business. The format of this disclosure has been mandated for all MDA operators by the Australian Securities and Investments Commission (ASIC).
Fees and other costs summary
| Type of fees or cost | Amount | How and when paid |
|
Ongoing annual fees and costs |
||
|
Management fees and costs |
0% - 1.70% plus $240 to $790 per annum |
Different components will be recovered at different times. See ‘Additional explanation of fees and costs’ section below |
|
Performance fees |
Nil |
Not applicable |
|
Transaction costs |
0% - 0.15% |
See ‘Additional explanation of fees and costs’ section below |
|
Member activity related fees and costs (fees for services or when your money moves in or out of the Fund)2 |
||
|
Establishment fee |
Nil |
Not applicable |
|
Contribution fee |
Nil |
Not applicable |
|
Buy-sell spread |
Nil |
Not applicable |
|
Withdrawal fee |
Nil |
Not applicable |
|
Exit fee |
Nil |
Not applicable |
|
Switching fee |
Nil |
Not applicable |
1. Refer to ‘Additional explanation of fees and costs’ section for further details.
2. We will charge a Financial Planning Advice Fee, refer to ‘Additional explanation of fees and costs’ section for further details.
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Example of annual fees and costs for the Growth Managed Funds Model
This table gives an example of how the ongoing fees and costs in the Growth Managed Funds Model for the Investment Program can affect your investment over a one-year period. You should use this table to compare this product with other managed investment products.
| Example – Growth Managed Funds Model |
Amount |
Balance of $50,000 with a contribution of $5,000 during the year1 |
|
Contribution fees |
$0 |
For every additional $5,000 you put in you will be charged $0. |
|
PLUS Management fees and costs |
1.7% plus $240 p.a.1 |
And, for every $50,000 you have in the Growth Managed Funds Model option, you will be charged or have deducted from your investment up to $1,090 each year. |
|
PLUS Performance fees |
Nil |
And, you will be charged or have deducted from your investment $0 in performance fees each year |
|
PLUS Transaction costs |
Nil |
And, you will be charged or have deducted from your investment $0 in transaction costs |
|
EQUALS Cost of Growth Managed Funds Model |
If you had an investment of $50,000 at the beginning of the year and you put in an additional $5,000 during that year, you would be charged fees and costs of $1,090 p.a.* What it costs you will depend on the investment option you choose and the fees you negotiate.2 |
This example excludes the financial planning advice fee which is a fixed annual fee that is negotiated directly with each client. Our financial planning advice fee is not based on the value of your investment portfolio, nor does it change as a result of contributions to or withdrawals from your regulated platform. Please refer to your Service Agreement for further details.
1. It is a requirement of the Corporations Regulations that the above example assumes a balance of $50,000 and an additional contribution of $5,000.
2. The management costs for the Fund are not negotiable.
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Cost of product for one year
The cost of product gives a summary calculation above how ongoing annual fees and costs can affect your investment over a one-year period for all investment options. It is calculated in the manner shown in the ‘Example of annual fees and costs table’ above.
The cost of product assumes a balance of $50,000 at the beginning of the year with a contribution of $5,000 during the year.
You should use this figure to help compare this product with other products offered by managed investment schemes.
| Model |
Cost of product |
|
Conservative Model |
$915 p.a. |
|
Growth Direct Shares Model |
$1,080 p.a. |
Management Costs:
The following fees and costs make up the different fee components of the Management Costs:
Platform Administration Fees
You will pay fees to the trustee/operator of the regulated platform for administration. These fees may include (but are not limited to) administration fees/costs, Operational Risk Financial Requirement (ORFR) cost, expense recovery, custodial holdings option fee and investment fees/costs. The fees are estimated to be up to 0.391% plus $240 to $790 per annum per platform account. The fees may be calculated daily or as a monthly average on your total account balance and deducted monthly in arrears from your platform account.
Platform Cash Account Fees
You will pay fees to the trustee/operator of the regulated platform for cash held in the cash account. The cash account fee is equal to the rate of interest the trustee/operator earns on funds in your cash account, less the rate of interest they credit to your cash account. The estimated cash account fee is 1.29% per annum, but this may change if there are changes in the official cash rate and/or the interest rate the trustee/operator receives
Quality Australian Companies Portfolio Fees
You will pay fees to the trustee/operator of the regulated platform if you invest in the Quality Australian Companies Portfolio managed model as part of the Growth Direct Shares Model. The fees are 0.70% per annum of the total value of your investment in the managed model. The fees are calculated daily based on the total value of the managed model and are deducted monthly in arrears from your platform account.
External Managed Funds Fees
You will pay fees to the managers of any managed funds you invest in. These are known as indirect costs. The indirect costs are variable depending on the managed fund. However, the range is typically between 0.29% per annum and 1.56% per annum of the amount you have invested in the fund. In addition, performance fees may be payable to the managers which may increase the indirect costs in any given year. The indirect costs are calculated and charged as a percentage of the funds invested and reflected in the unit price of the underlying managed fund and not separately deducted from your portfolio investment account.
Financial Planning Advice Fee
You will pay us a fee for our financial planning advice and our comprehensive services which include our MDA services. The fee shall be set out in your Service Agreement. The amount of the financial planning advice fee is negotiated directly with each client. Please refer to your adviser for further information.
Transaction Fees:
ASX Listed Securities Brokerage Fee
You will pay fees to the trustee/operator of the regulated platform for brokerage services on ASX listed securities. This fee is 0.125% of trade value (with a minimum of $18.50) and is charged to your account when you purchase or sell ASX listed securities through the platform nominated broker. Where you use the Managed Account, this fee does not apply to trades in your managed account (instead a Managed Account transaction fee applies - refer below).
Managed Account transaction fee
You will pay fees to the trustee/operator of the regulated platform for transactions in your managed account. This fee applies only if you use the Managed Account, including investment in the Quality Australian Companies Portfolio managed model as part of the Growth Direct Shares Model. When ASX listed securities are bought and sold in your managed account the trustee/operator apply a transaction fee. This fee is 0.15% of the value of each sale and each purchase and is deducted from your managed account when the transaction settles.
Buy-Sell Spread
When purchasing and selling interests in managed funds, the responsible entity of the relevant fund is usually entitled to charge an amount to the investor for the cost of purchasing or selling the managed fund’s assets. These costs are an additional cost paid by you at the time of the transaction. These amounts typically include things like brokerage and stamp duty and are usually reflected in the difference between the application price and withdrawal price of an interest in the managed fund. This is called the ‘buy-sell spread’. Buy-sell spreads are generally used to fairly distribute the costs in buying and selling assets between those joining (in the case of buy costs), those leaving (in the case of sell costs) and the other investors in the managed fund. The buy-sell spread for any managed fund should be described in the PDS or other disclosure document for that managed fund.
Change to fees and charges
We can change the fees applicable to your investment at any time providing we give you a minimum of 30 days notice if any existing fee is to be increased.
Taxes
You are responsible for all taxes and duty which may be incurred or arise through us investing your funds through the Investment Program.
GST and stamp duty
Unless otherwise stated, fees stated include, if applicable, GST less any reduced input tax credits and stamp duty.
Where you do not have a MDA service contract in place we will provide recommendations for your investments as required from time to time due to changes in:
These investment recommendations will be in the form of a SOA or ROA as explained earlier in this disclosure information.
Our other services enable you to delegate to our team of professionals. They include:
Our role is to give you the time and freedom so that you can focus on those things in life that are more important than money.
Our policy is to be remunerated solely on a fee for service basis.
For all clients, we will charge a fixed annual fee. This fee will be commensurate with the amount of work required, the complexity, and the level of responsibility we take on. This fee will be disclosed to you in your Service Agreement and shall be agreed before our services begin. The fee shall be payable in monthly instalments and deducted directly from an agreed bank, investment, or superannuation account.
For some clients, we will agree to undertake additional services. These services will be charged to you at the hourly rate of our various staff members. The scope of the additional services and our hourly rates will also be outlined in your Service Agreement and shall be agreed before our services begin.
For the advice we provide to you neither we, nor any related or associated company or person, will receive commissions or other material benefits from third parties.
There are likely to be costs other than our fees as a result of our recommendations and advice. Examples of the most common costs you might incur are:
All fees and costs associated with placing or changing a financial product will be disclosed to you at the time of making our recommendations.
Your adviser is a salaried employee of Goodman Private Wealth. He/she does not receive any fees or commissions directly from product providers. In addition to a fixed salary, your adviser may be eligible to receive a performance bonus payable out of company profits.
Goodman Private Wealth is a privately owned company, meaning that our business is not owned by a financial product provider. As such, we are under no obligation to recommend products offered by any particular product provider, or act in any manner other than in the best interest of our clients.
We have a strict policy of not accepting payments or other material incentives from financial product providers.
Goodman Private Wealth has exclusive access to an investment product known as the Quality Australian Companies Portfolio. This product is generically referred to as a Managed Account and is issued by Netwealth Investments Limited. This product is offered to clients at wholesale rates and Goodman Private Wealth receives no remuneration from this financial product.
We undertake to advise you ethically and honestly, and to act in your best interests at all times.
Our advice and recommendations are based on the judgment of your personal adviser and the team of experts who support them. Our advice to you will be suitable for your needs and financial circumstances, taking account of your current situation and your stated objectives.
Your adviser and their team will draw on technical, taxation and investment research from a wide range of sources. All professional staff also undergo an ongoing professional development and training program to maintain their personal knowledge and skills at the highest standards.
We will advise you of any significant risks in the financial products and strategies we recommend. If we do not do so to your satisfaction, you should ask us to explain those risks to you.
Execution related telephone advice can only be given in relation to financial products that are traded on a licensed market (such as listed shares). In time critical cases our written advice will be issued within five business days of the execution of the instructions/advice. This will not apply if you have a MDA service contract in place with us.
We set out to maintain the highest standards, not just in the advice we give you but also in the way you are treated as a client of our firm.
You can expect to receive:
Each of our clients is looking for a long-term relationship with our firm. By this we mean an association which may extend to future generations who, in many cases, are an important factor in the planning we do today.
With this in mind, our firm has deliberately been set up to be a permanent organisation. Our own succession planning is designed to ensure continuity of advice and service to you and your family, regardless of what happens to you or your current adviser.
Goodman Private Wealth Ltd holds a professional indemnity insurance policy which satisfies the requirements of section 912B of the Corporations Act and which limits payouts for any one event at $5 million, and $10 million in aggregate for all events. The level of professional indemnity cover held by the firm is subject to change.
This professional indemnity insurance policy will cover claims in relation to officers or employees who no longer work for the firm, but who did at the time of the relevant conduct.
Your relationship with the firm and its staff requires mutual trust and co-operation. It is important that communication by both parties be honest and respectful.
From time to time, you will be asked to answer questions, provide information and follow our advice. It is in your best interest that you be responsive in these interactions with the firm.
You will be asked to attend regular progress meetings. This is a necessary part of the process to help us understand your ongoing situation and changing circumstances, and in turn provide you with the best possible advice. It is expected that you attend and participate in these meetings.
If you have a significant change in your circumstances, you should advise us of the changes as soon as is practical. This will allow us to better tailor our advice to you.
We will encourage you to provide feedback (both positive and negative) about our service to you. Any feedback you provide us will be valued and will help us improve our service to you.
In order to comply with the requirements of the Privacy Act, we are required to advise you that this firm will hold personal information about you. The information has been and will continue to be collected by us for the purpose of providing you with our services.
A copy of our Privacy Policy Statement is available on our website - www.goodmanwealth.com.au.
We are required, pursuant to the Corporations Act and certain regulations issued by the Australian Securities and Investments Commission as well as the Financial Advice Association Australia’s Professional Code and Best Practice Standards, to collect information about you for the purpose of providing you with the services referred to above.
If you do not provide us with the information requested by us, we may not be able to provide you with the services you require of us.
All information you provide to us shall be treated as confidential and will only be disclosed to third parties if you approve, or as is required by law.
We will obtain from you written consent to disclose your information to your professional advisers and other external parties.
You are entitled to access the information which we hold about you by contacting your adviser using the contact details provided on this website.
We welcome any suggestions you may have about how we can improve our service. We will occasionally ask you to participate in formal feedback on your level of satisfaction and areas for improvement.
We sincerely hope that you will not have any cause for complaint. If you do, you should in the first instance contact your adviser at Goodman Private Wealth and explain your complaint.
If your complaint is not resolved to your satisfaction, you have the right to complain to the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers. Their contact details are:
Australian Financial Complaints Authority Ltd
Phone: 1800 931 678
Address: GPO Box 3 Melbourne VIC 3001
Email: info@afca.org.au
Web: www.afca.org.au
The Australian Securities and Investments Commission also has a free call Infoline on 1300 300 630 which you can use to obtain information about your rights.
OFFICE ADDRESS
Goodman Private Wealth Ltd
Level 16
300 Queen Street
Brisbane Qld 4000
POSTAL ADDRESS
Goodman Private Wealth Ltd
GPO Box 1203
Brisbane Qld 4001
CAR PARKING
Car parking is available in nearby commercial parking stations at Post Office Square (entry via Adelaide Street) or Queens Plaza (entry via Edward Street) or Macarthur Central (entry via Elizabeth Street).
TELEPHONE NUMBER
(07) 3221 0333
EMAIL ADDRESS
WEBSITE ADDRESS
This Website Disclosure Information complies with ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968.