FINANCIAL SERVICES GUIDE – 22 May 2017
This Financial Services Guide, dated 22 May 2017 is issued by APP Securities Pty Ltd (“APP Securities”) (ABN 45 112 871 842) (AFSL 307 706)
The Financial Services Guide is designed to provide brief details of the financial products and services APP Securities provides to assist you in deciding whether to use any of the financial services offer by APP Securities.
Any financial product or service described in this Financial Services Guide is considered to be regulated by the Australian Securities and Investments Commission (“ASIC”) under the Australian AFS License regime and provided in Australia only.
APP Securities also operates under the business/trading as name AIMSSEC. AIMSSEC’s primary focus is providing an online stockbroking facility to a mix of Domestic and International Investors.
APP Securities may be referred to within this document as AIMSSEC or simply by the use of the words ‘us, we or our.’ Any AIMSSEC Financial Services Guide dated prior to 22 May 2017, is replaced in whole by this document.The purpose of the FSG is to explain
- What type of advice you might receive from us.
- How you can give us instructions.
- The kinds of financial services that we provide and the financial products to which those services relate.
- Who we act for in providing financial services.
- Risks involved when using financial products and services.
- How we, our staff and other relevant persons are paid for the financial services offered.
- The associations or relationships between us and any related persons and issuers of financial products that might influence how we provide financial services.
- How complaints against us are dealt with.
- Where to find the AIMSSEC Privacy Statement.
AIMSSEC is part of the AIMS Financial Group and 100% owned by Great World Financial Group Pty Ltd (ACN 137 063 113). APP Securities trading as AIMSSEC is a Market Participant and an Account Settlement Participant of the ASX Group and NSXA Member Participant Broker.
What type of advice you might receive from us
AIMSSEC may give you general financial advice in relation to trading in securities, derivatives and interests in managed investment schemes. AIMSSEC will not provide you with personal financial advice, so AIMSSEC will not give you a SoA.
General advice can include direct or implied recommendations about financial products or services, whether generally or for a class or kind of investor, without taking into account your particular circumstances. General advice includes advice based on consideration of the investment alone (including by reference to current market conditions) and any such general advice is provided without any express or implied recommendation that such advice is appropriate for you in light of your personal circumstances. There may be a product disclosure statement or prospectus, terms and conditions, an outline of fees as well as a document outlining specific risks for the financial products discussed by our staff members or communicated via written, verbal or electronic means. If provided to you, the purpose of these documents is to provide you with general
information about the financial product to provide you with background information in relation to the acquisition and features of that product. You should obtain a copy of the product disclosure statement, prospectus or related product or service documents before making any decision about whether to acquire the security, product or service.
How you can access our services
To access the services offered by AIMSSEC, you will be required to complete an application form and enter into a Client Agreement relevant to the particular service. You should read the Terms of the client agreement carefully. If you have any questions about the Client Agreement we recommend you seek independent legal advice. AIMSSEC cannot provide you with legal advice.
You can contact your AIMSSEC Adviser to give instructions to buy or sell financial products by telephone, email and direct market access through IRESS.
You may also be able to access online trading platforms that allow you to deal by giving instructions electronically. If you are granted such access, you should read the separate documentation for those facilities carefully and make sure you understand how they operate.
Please note, instructions that are received by email will not be deemed to be received until your Adviser has confirmed receipt.
To assist us in executing or arranging for the execution of your order efficiently, it is essential that you provide your Adviser with clear instructions when placing your order.
Once AIMSSEC processes your order AIMSSEC jointly with AIMSSEC Clearer Pershing Securities Australia Pty Ltd (ABN 60 136 184 962) (AFSL 338 264) will issue you with a confirmation detailing the transaction undertaken to buy or sell financial products. Please read the confirmation carefully and contact AIMSSEC immediately in the event any of the details contained in the confirmation appear incorrect.
Financial Products and Services provided by AIMSSEC
APP Securities trading as AIMSSEC holds Australian Financial Services (AFS) Licence No. 307 706. The AFS Licence has been issued by the Australian Securities & Investments Commission.
AIMSSEC AFS Licence authorises it to provide the following financial services to retail and wholesale clients:
- Provide financial product advice on: basic deposit products and deposit products other than basic deposit products; derivatives; interests in managed investment schemes excluding investor directed portfolio services and securities.
- Deal in a financial product by: applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of basic deposit products and deposit products other than basic deposit products, derivatives, interests in managed investment schemes excluding investor directed portfolio services, securities and underwriting: interests in managed investment schemes and an issue of securities.
- Provide custodial or depository services: operate custodial or depository services other than investor directed portfolio services.
Who we act for in providing financial services
We act for you on our own behalf when we provide the financial services detailed above and not as an agent or representative for anyone else. We arrange for our clients to trade in securities through our arrangement with a third party. AIMSSEC clears and settles transactions through AIMSSEC Clearing Participant Pershing Securities Australia Pty Ltd.
When opening an AIMSSEC client account you will receive the required Terms and Conditions and Product Disclosure Statements in accordance with the financial products selected.
Risks involved when using financial products and services
The securities that AIMSSEC will advise and deal in include only listed equities (or shares) and listed equity derivatives at this time. All types of securities carry financial risks.
Fully-paid equities may lose up to 100% of their initial purchase value, or 100% of your initial investment. Certain types of equities can also carry a future liability, meaning you might be required to contribute future payments under the terms of the security being traded.
Listed equity derivatives may lose more than 100% of any initial margin paid, or more than 100% of your initial investment, when a position is initiated in these products on your behalf.
Part H: Exchange Traded Options Product Disclosure Statement of the Pershing Securities Australia Pty Ltd Equities Terms & Conditions discloses further risks associated with trading Exchange Traded Options. The Terms also contain an ASX Website link to the ASX Understanding Options Trading Booklet which must be read in conjunction with the Exchange Traded Options Product Disclosure Statement.
How we, our staff and other relevant persons are paid for the financial service offered
AIMSSEC Securities and its staff are remunerated in the following ways:
- Dealing: Transactions in securities such as shares are conducted by our third-party broking partners. In most cases, these broking partners will rebate AIMSSEC fees, interest, financing, spreads and commissions that are paid by AIMSSEC clients when dealing in securities and derivatives. For example, an AIMSSEC dealing client might purchase shares that incur a brokerage fee of $100; up to 100% (or in this example $100) of this fee may be rebated to AIMSSEC.
- Deposit products: We may hold your money in an AIMSSEC Trust Account where relevant and will do so in accordance with the Corporations Act 2001 (Cth) (“Corporations Act”). AIMSSEC may receive, derive and retain any interest or income generated from an AIMSSEC Trust Account. For example, if a client deposits $10,000 in the AIMSSEC Trust Account to trade shares, the bank may pay AIMSSEC a percentage of the interest earned on that account of between 0 and 3%. On $10,000 this would be $300.00 on an annualised basis.
The associations or relationships between us and any related persons and issuers of financial products that might influence how we provide financial services
If a client is introduced to AIMSSEC by another AFS Licensee, AIMSSEC may provide a one-off fee and/or percentage commission of client revenue to that licensee. This fee could be up to 50% of the commission paid. For example, if the commission paid is $100, the fee could be up to $50.
If AIMSSEC introduces a client to another AFS Licensee, AIMSSEC may receive a one-off fee and/or percentage of commission of client revenue from that licensee.
Our Advisors are remunerated on the basis of a salary and/or a variable component based on the amount of brokerage and commission they generate. The variable component is determined by the level of brokerage received by AIMSSEC. As a general rule our advisors can receive between 0% and 60% of the fees AIMSSEC receives.
AIMSSEC maintains an Anti-Money Laundering (AML) / Counter-Terrorism Financing (CTF) Program which complies with the AML/CTF Act.
Recording of Telephone Conversations
AIMSSEC may record conversations between you and our advisers, authorised representatives and employees (the recorded lines may or may not include an audible tone). In the event of a dispute you may request a transcript of the recording.
If you have a complaint or concern, you should contact the Complaints Manager on +61 2 9226 0215
or by email on Compliance@appsecurities.com.au
. We will acknowledge receipt of the complaint and aim to respond to all matters within 30 days however we must give you a final response within 45 days of receiving your complaint. If your complaint or concern has not been resolved satisfactorily, you may wish to contact the independent industry arbiter, the Financial Ombudsman Service (FOS). The contact details for FOS are set out below.
Financial Ombudsman Service
GPO Box 3 MELBOURNE VIC 3002
Telephone: 1800 367 287
Facsimile: +61 3 9613 6399
The Australian Securities and Investments Commission (ASIC) also has a free call Info Line on 1300 300 630 which you may use to make a complaint and obtain information about your rights.
Compensation arrangements/professional indemnity insurance
AIMSSEC has in place Professional Indemnity (PI) Insurance in accordance with section 912B of the Corporations Act and section D of ASIC Regulatory Guide 126. Our PI Insurance covers claims in relation to the conduct of our representatives/employees who no longer work for AIMSSEC (but who did at the time of the relevant conduct).
APP Securities Pty Ltd trading as AIMSSEC
Level 41, 259 George Street
Sydney, New South Wales 2000
Telephone: +61 2 9226 0215
Facsimile: +61 2 9226 0111
AIMSSEC is wholly owned subsidiary within the AIMS Financial Group and is a related party to the Sydney Stock Exchange (“SSX”).