This Financial Services Guide (FSG) was prepared and issued with the authority of Bluewater Financial Advisors Pty Ltd (ABN 99 153 118 533, AFSL 411846). Version 4, dated 20 January 2025.
1. Purpose of This Guide
This FSG is designed to help you make an informed decision about whether to use our services. It explains who we are, how we provide advice, how we are paid, and what to do if you have a complaint.
We are required to give you this document before providing any financial service to you.
2. Important Disclosure
Bluewater Financial Advisors and your adviser may receive commissions on insurance premiums, fees based on assets under advice, and other non-monetary benefits. For these reasons, we are unable to refer to ourselves as "independent", "impartial", or "unbiased".
Your adviser is required to comply with the Best Interests Duty and will act in your best interest when providing advice.
3. The Licensee and Your Adviser
Bluewater Financial Advisors Pty Ltd holds Australian Financial Services Licence No. 411846 and is responsible for the advice you receive.
Ascendancy Planning Pty Ltd (Corporate Authorised Representative No. 1281933) is authorised by Bluewater to provide financial product advice and to deal in financial products on your behalf.
Paul Searle (Authorised Representative No. 001271293) is your financial adviser, authorised under Bluewater Financial Advisors Pty Ltd.
About Bluewater
Bluewater is a privately owned Australian company, not owned by or associated with any bank, insurer, or fund manager. Bluewater is a Principal Member of the Association of Independently Owned Financial Professionals (AIOFP) and an Affiliate Member of the Association of Financial Advisers (AFA).
About Ascendancy Planning
Founded in December 2019 by Paul Searle, Ascendancy Planning provides financial advice that is clear, practical, and client-centred. The firm operates remotely with team members across Australia, offering meetings by phone or video call.
4. Services We Provide
Paul Searle provides advice across the following areas:
- Financial and lifestyle planning
- Superannuation and SMSF
- Personal insurance advice
- Retirement planning
- Wealth accumulation and investing
- Cash flow management
- Managed investment advice
- Annual plan and portfolio reviews
Adviser qualifications
- Diploma in Financial Services (Financial Planning)
- Registered Tax Agent (No. 24752170)
- Specialist knowledge in Self-Managed Superannuation Funds
Further details about Paul Searle's experience can be found on the ASIC Financial Adviser Register.
Authorised financial products
Paul Searle is licensed to provide personal advice and deal in the following product categories:
- Deposit and payment products
- Government debentures, stocks, or bonds
- Life products (investment and risk insurance)
- Managed investment schemes (including IDPS)
- Retirement savings account products
- Superannuation (including SMSF)
- Securities
Approved product list
Your adviser can advise on a wide range of products but is required to recommend those approved by Bluewater on the Approved Product List (APL). You will be provided with a Product Disclosure Statement (PDS) if we recommend a financial product.
5. The Advice Process
Before receiving advice
To provide advice tailored to your situation, we need to understand your goals, financial position, and needs. You have the right to withhold information, but we are required to warn you about the potential consequences of incomplete information.
We maintain a secure record of your personal profile, including your goals, financial situation, recommendations made, and products acquired. If you wish to access your file, please contact us. Allow up to 14 working days for the information to be prepared.
Personal advice
Before providing personal advice, you will need to share details about your objectives, financial situation, and needs. If you choose not to provide this information, any advice will be general in nature and may not be appropriate for your circumstances.
Documents you may receive
Statement of Advice (SoA) — Unless you are a professional, sophisticated, or wholesale client, any financial advice will be confirmed in writing. Your SoA will outline:
- The scope of the advice
- Your goals and specific requirements
- Your personal circumstances (financial, health, and other relevant factors)
- The advice and recommendations, including advantages, disadvantages, and risks
- All fees, commissions, or other benefits payable to us
- Any associations that may influence the advice
Record of Advice (RoA) — For subsequent advice that does not significantly change your circumstances, your adviser may provide an RoA instead of a full SoA. We are required by law to keep copies for a minimum of seven years.
Product Disclosure Statement (PDS) — When a product is recommended, you will receive a PDS from the product issuer with full details.
Providing instructions
You may provide instructions regarding your financial products via telephone, email, or other agreed methods.
6. Fees and Charges
All fees and commissions are inclusive of GST. Fees may be higher in complex cases, and you will be informed in writing.
Advice preparation
The fee depends on the complexity of the advice. Minimum: $3,300. Maximum: $22,000.
Ongoing advice
If you choose an ongoing review arrangement, the fee depends on the package and complexity. Minimum: $3,300 per year. Maximum: $22,000 per year.
Your adviser will provide an Ongoing Fee Arrangement Consent form (OFA) each year. You should confirm within 150 days whether you wish to continue. If you end the arrangement, all ongoing fees and services will stop.
Ad hoc advice
For one-off advice outside an ongoing arrangement, fees start from $3,300.
Insurance commissions
Your adviser may receive up to 60% of the premium in the first year and up to 20% as a trailing commission. If a policy lapses, the commission may be clawed back (100% in year one, 60% in year two), and you may be charged a fee to cover the shortfall.
Other payments and referral fees
We will disclose all fees, commissions, or other benefits when providing advice. If exact amounts are not available, we will provide worked-dollar examples. Referral arrangements with external parties are disclosed when a referral is made.
7. Conflicts of Interest
Your adviser does not have any relationships or receive any conflicted remuneration that would influence the advice provided to you.
Additional benefits
Your adviser may receive additional benefits from product providers, including sponsorship for professional development, and occasional non-monetary gifts.
8. Your Privacy
Bluewater and Ascendancy Planning are committed to the confidentiality and security of your information, in line with the Privacy Act 1988 (Cth) and the Australian Privacy Principles.
We may collect information about your personal circumstances to provide appropriate advice. This includes verifying your identity under AUSTRAC requirements (for example, by sighting your passport or driver licence).
We may also collect information under the Anti-Money Laundering and Counter-Terrorism Financing Act. If you do not provide the information we request, we may not be able to provide our services.
Your personal information will only be disclosed to external parties where required by law or with your consent. A full copy of our Privacy Policy is available on our website.
9. Complaints
If you are not satisfied with our services, we encourage you to contact us. You can reach us by phone on 1300 317 437 or through the contact page on our website.
How we handle complaints
We will acknowledge your complaint within one business day. Your complaint will be assessed and you will be advised of the outcome by phone or in writing.
External dispute resolution
If your complaint has not been resolved to your satisfaction after 30 days, you may lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides a free and independent dispute resolution service.
Australian Financial Complaints Authority GPO Box 3, Melbourne VIC 3001 Phone: 1800 931 678 (free call) Website: www.afca.org.au Bluewater membership number: 28547