This Guide

Triton Broking Services (WA) Pty Ltd t/as IC Frith & Associates (WA) are committed to an open and professional relationship with you.

This Financial Services Guide (FSG) contains important information about our relationships and associations and is intended to assist you in your decision whether to use any of our services. It includes information about:
•    the services we are authorised to offer you;
•    how we are remunerated;
•    any potential conflict of interest we may have; and
•    our internal and external dispute resolution procedures and how you can access them.

From what date does this FSG Apply?

This FSG applies from 22nd September 2010 and remains valid unless a further FSG is issued to replace it.  We may give you a supplementary FSG.  It will not replace this FSG but will cover services not covered by this FSG.

Statement of Advice

If we provide you with any personal advice that takes into account your objectives, financial situation or needs, then you will receive a Statement of Advice (SOA) or a Record of Advice (ROA). The SOA will contain our advice, the basis on which our advice is given and information about the remuneration, fees, commissions, other benefits and any association and relationships that may influence the giving of our advice. The ROA will contain information about our remuneration, fees, commissions, other benefits and any association and relationships that may influence the giving of our advice.

If we only provide you with general advice that does not take into account your individual objectives, financial situation or needs (your personal circumstances), then we will give you a general advice warning at that time.

Before using this advice to decide whether to purchase any insurance policies, you should consider the appropriateness of this advice to your personal circumstances, and obtain and consider the current Product Disclosure Statement for the relevant insurance policy.

Should you require further information regarding any General Advice given including remuneration amounts or rates please contact our office.

When you ask us to recommend an insurance policy for you, we will recommend an insurance product from our Approved Product List.  We consider a number of factors including policy coverage, pricing, security and claims handling service when we select our preferred insurers and products.

Policy Disclosure Statement

If we recommend or offer to arrange the issue of an insurance policy to you, we will also provide you with a Policy Disclosure Statement (PDS), unless you already have an up to date PDS from the insurer. The PDS will contain information about the particular policy, which will enable you to make an informed decision about purchasing that policy.

Who will be providing the Financial Service?

We are licensed to provide financial services under the Corporations Act.  We are responsible for the financial services that will be provided to you, or through you to your family members, including the distribution of this FSG. You can contact us to give us instructions by post, phone, fax or email.

What kinds of financial services are we authorised to provide and what kinds of Financial Product(s) do those services relate to?

We are authorised to issue, advise and deal in general insurance products as an Insurance Broker. We can arrange a wide-range of insurance policies. These include, but are not limited to, the following insurance policies for retail clients.

•    Motor Vehicle Insurance;
•    Home Building and Home Contents Insurance;
•    Sickness and Accident Insurance; and
•    Travel Insurance

What commissions, fees or other benefits do we receive for providing financial services?

When we arrange insurance for you, we may obtain a ‘commission’ from your Insurer, which is a percentage of the premium that you pay. The rate of commission ranges between 0% and 23%.

Alternatively, we may also charge you a broker or administration fee, or a combination of these. If we provide you with an SOA, it will document any fees, commission or other payments we will receive in relation to the policies that are the subject of that advice.

When you pay us your premium it will be banked into a trust account. We retain the commission from the premium you pay us and remit the balance to the insurer in accordance with our arrangements with the insurer. We will earn interest on the premium while it is in our trust account or we may invest the premium and earn a return. We will retain any interest or return on investment earned on the premium.

We can arrange premium funding on your behalf to enable you to pay your premium by instalments. The premium funder will charge you interest and possibly a fee for this service. We may also receive a commission from the funder. Specific details will be provided to you prior to arranging the funding on your behalf.

If we arrange insurance products through Miramar Underwriting Agency Pty Limited (Miramar), we may qualify for reward points under the Miramar rewards program.  The number of points we earn will depend on the premium paid to Miramar for the insurance products we arrange with them, subject to a minimum threshold.  The points may be redeemed for certain goods or flights.

Our representatives receive an annual salary that may include a bonus based on performance.

What relationships or associations exist which you might like to know about?

IC Frith & Associates (WA) has an association and referral arrangement with Frith Financial Services.  Our representatives may receive a commission or fee for any financial services Frith Financial Services arrange for you.

IC Frith & Associates (WA) has appointed Set Leasing Pty Ltd a distributor for a financial product. They will earn between 0% and 5% on insurance business placed through them.

Where you have been referred to us by someone else and we pay them a fee or commission in relation to that referral, we will tell you.
From time to time we may also receive some form of material benefit from our insurer contacts where we have an agreement in relation to performance. These may include administrative support, commission over-ride, subsidies or performance bonuses.  We have such arrangements with CGU Insurance Limited, QBE Insurance (Australia) Limited and Zurich Australian Insurance Ltd and with Steadfast Group Ltd as a shareholder.  

Any relevant specific benefits received by us in relation to our recommendations to you, arising from those associations, will be disclosed in our SOA.

IC Frith & Associates (WA) is a shareholder of Steadfast Group Limited (Steadfast). Steadfast has exclusive arrangements with some insurers under which Steadfast will receive between 0.5% to 1% commission for each product arranged by us with those insurers. These payments are used to operate Steadfast. Depending on the operating costs of Steadfast (including the costs of member services provided by Steadfast to us and other Steadfast shareholders) and the amount of total business we place with the participating insurers in any financial year, we may receive a proportion of that commission at the end of the financial year.

As a shareholder of Steadfast we have access to member services including model operating and compliance tools, procedures, manuals and training, legal, technical, banking and recruitment advice and assistance, group insurance arrangements, product comparison and placement support, claims support and group purchasing arrangements. These member services are either funded by Steadfast, subsidised by Steadfast or available exclusively to shareholders for a fee.

Steadfast has a shareholding in Macquarie Premium Funding. If we arrange premium funding with Macquarie Premium Funding for you, under its agreement with Macquarie Premium Funding, Steadfast will receive 0.5% of your insurance premium (including government fees or charges). As an equity shareholder of Macquarie Premium Funding, Steadfast may also receive dividends from profits of Macquarie Premium Funding. The amount of the Steadfast dividend is based on the share of profit attributable to funding arranged by Steadfast Shareholders. The payments (commission and dividends) that Steadfast receives from Macquarie Premium Funding are used to operate Steadfast. Depending on the operating costs of Steadfast and the amount of total business we place with Macquarie Premium Funding in any financial year, we may receive a portion of those amounts at the end of each financial year, IC Frith & Associates (WA) may receive a portion of those amounts at the end of each financial year.

You can obtain a copy of Steadfast’s FSG at www.steadfast.com.au

IC Frith & Associates (WA) is a member of the Chamber of Commerce and Industry WA, Swan Chamber of Commerce, Franchise Council of Australia and National Insurance Brokers Association (NIBA). We also have an association with the Australian Funeral Directors Association and Glass and Window Association of Western Australia.

Will the advice we provide you with be appropriate for you and your circumstances?

To accurately consider your insurance needs and objectives and to deliver recommendations which are designed to satisfy your requirements, we will need you to provide details of your current financial situation and any other relevant information.

Personal Advice

If you choose not to disclose all the information that we request, any advice that you receive may not be appropriate to your needs, objectives and financial situation. You should carefully read the details provided in each SOA before making any decisions about the suitability of the recommendation to you.

What information do we maintain on your file?

We maintain a record of your personal profile, including details of insurance policies that we arrange for you. We also maintain records of any recommendations or advice given to you. We will retain a copy of this FSG and any other FSG given to you, as well as any SOA that we may give to you.

We are committed to implementing and promoting Privacy Policy, which will ensure the privacy and security of your personal information. The Privacy Policy is available on our website at www.icfrithwa.com.au or a copy can be supplied by contacting our office.

If you wish to view your file please contact us and we will make arrangements for you to do so.

Cooling Off Period For Clients

If you are a retail client as defined In the Corporations Act 2001 as amended (the ‘Act’), you may be entitled to a minimum 14 day cooling~off period during which you may return the insurance policy and receive a refund of the insurance premium paid (less amounts lawfully deducted), subject to the requirements of the Act and the terms and conditions of your policy. This does not affect any other cancellation rights you may have under your policy.

What should you do if you have a complaint?

Contact us and advise us about your complaint. We will do our best to resolve it quickly and fairly.  If your complaint is not satisfactorily resolved within 20 business days of us having full information on the matter, please contact the Managing Director on (08) 6274 0500.

We are a member of Financial Ombudsman Service (FOS). If your complaint cannot be resolved to your satisfaction by us you have the right to refer the matter to the FOS whose services are provided to you free of charge. FOS contact details as follows:

Financial Ombudsman Service
Level 12, 717 Bourke St, Docklands  VIC 3000
GPO Box 3
Melbourne   Vic   3001
Phone 1300 78 08 08
Fax 03 9613 6399
Email This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.fos.org.au

Contact Information:

Triton Broking Services (WA) Pty Ltd t/as
IC Frith & Associates (WA)
ABN: 30 009 439 203, AFSL 230778
Level 4, 9 The Avenue, Midland WA  6056
Telephone:    (08) 62740500
Facsimile:    (08) 9250 5617
Email:     This e-mail address is being protected from spambots. You need JavaScript enabled to view it

What arrangements do you have in place to compensate clients for losses?

IC Frith & Associates (WA) has a professional indemnity insurance policy which covers us and our representatives (including our authorised representatives) for claims made against us and our representatives by clients as a result of the conduct of us, our employees or representatives in the provision of financial services

Our PI policy will cover us for claims relating to the conduct of representatives who no longer work for us.

Any other questions you might have...

If you have any further questions about the financial services and what it provides, please contact your broker.

Please retain this document for your reference and any future dealings with IC Frith & Associates (WA)