V 1.0
Date Issued: 15 May 2025
BDO Private Wealth Advisers Pty Ltd, ABN 62 805 149 677, is an Australian Financial Services Licensee (AFSL No. 238280) (Licensee).
| Address | Level 7, 420 King William St, Adelaide |
| Phone | 08 7324 6000 |
| fp.brisbane@bdo.com.au |
BDO Private Wealth Advisers and its advisers (we or us) are authorised to provide the financial services outlined in this Website Disclosure Information.
As an AFSL holder, we act on our own behalf when providing you with financial services.
The Licensee is not “independent”, “impartial” or “unbiased” in relation to the personal advice it provides. The Licensee is not permitted to use those or similar terms in accordance with section 923A of the Corporations Act.
The Licensee is not independent because it is paid commission by life insurers for life insurance policies arranged by the Licensee. Please refer to the sections on Fees in this WDI for further information on commissions the Licensee may receive.
The distribution of this Website Disclosure Information is authorised by the Licensee.
The purpose of this WDI is to inform you of our services and fees and assist you when deciding whether to use those services.
This WDI includes information about:
We are licensed to provide advice on, and deal in, the following products to retail and wholesale clients:
You can give us instructions in writing, by phone, email or any other means that we agree with you from time to time.
In addition to this WDI, you will receive other important documents. Please refer to the following definitions for a description of the documents you are likely to receive:
Statement of Advice (SOA)
If we give personal financial advice to you, we will provide you with a SOA. We must give the SOA to you the first time we provide you with personal advice about financial products or where there has been a significant change in your circumstances.
We provide personal advice when we take your personal circumstances into account when providing the advice. Personal advice can be given on your complete financial situation or on limited areas you require advice on – we will discuss the scope of the advice before we start work.
We must give you the SOA before we provide any services to implement our recommendations. We have legal and ethical obligations to ensure that the advice and recommendations we provide to you are in your best interests.
The SOA will include the following information:
Where the personal financial product advice relates only to a basic deposit product an SOA will not be provided.
Advice (ROA)
We may also record our advice through preparing a record of advice in some circumstances instead of providing you with another SOA. If you have not been provided with a copy of the ROA, you may request a copy of it free of charge at any time within seven years after the advice was provided to you, by contacting us.
Engagement letter
The Engagement Letter will be tailored to your specific requirements and outlines the benefits, services and support we will provide you. It will contain terms and conditions for our fees and costs for providing and implementing our advice.
Discussion paper
The Discussion Paper is designed to provide clarity around your situation and put you in a position to make decisions, having explored all the available options and the likely impacts and outcomes.
Fixed Term Advice Agreement
If we enter into an fee arrangement with you, we will ask you to renew this agreement every twelve months. At this time we will advise you of the fees you will pay over the coming 12 months and the services you are entitled to receive.
Product Disclosure Statement (PDS)
If we make a recommendation on certain financial products (other than securities) or arrange the issue of a financial product, you will receive a PDS. The PDS outlines the key features, significant benefits, risks and fees associated with the financial product.
The fees below cover the cost of developing strategies to meet your goals and objectives, preparing and presenting the Statement of Advice and implementing our recommendations. This also includes a further meeting to run through our recommendations with you in detail, ensuring you fully understand our advice.
The cost of the Statement of Advice and Implementation varies according to the complexity of the advice.
All fees and commissions are inclusive of GST and the fees could be greater than those disclosed below in complex cases. In these instances, we will inform you of the exact fee payable in writing.
| SERVICE | FEE |
Initial meeting (1 hour) This meeting is for us to find out about your current situation, goals and objectives. We will outline the financial planning process and what to expect. You will be provided with our adviser profile/financial services guide outlining our qualifications and the details of our license. | Complimentary |
Personal Risk Insurance Advice and Implementation When it comes to personal risk insurance, we have capped the advice and implementation fee at $2,200. This means the only cost you will incur is the insurance premiums and the $2,200 flat fee. The insurer will pay initial commission between 0% and 66% and ongoing commission between 0% and 33% of the annual premium while you hold the product. Commissions are paid to us by the product provider and are not a direct cost to you. | $2,200 plus commission paid via insurer (if applicable) |
Standard Statement of Advice and Implementation This can include advice regarding any of the following: transition to retirement strategies, commencement of pensions, simple portfolio construction, salary sacrifice and salary packaging advice. | $5,500 |
Complex Statement of Advice and Implementation This can include more complex advice regarding any of the following: retirement planning, SMSF establishment and advice, portfolio construction involving direct equities and comprehensive superannuation strategies. | $7,700 + (subject to complexity) |
If applicable, we may charge fees for services not listed, these may be at a fixed price or on an hourly rate. We will always discuss the cost of this work prior to commencing and ensure we have your consent to proceed.
The exact amounts of any fees, commissions, bonuses or other incentives received by BDO PWA will be included in the Statement of Advice provided to you.
Our Private Wealth Service Programs are a very important part of the overall financial planning process. Putting a plan into action is of limited value if you don’t review and manage its progress. Our range of programs seek to ensure your financial plan remains alive and consistent with your objectives.
This arrangement is via a 12 month Fixed Term Advice Agreement which is renewable each year and provides services based on your needs, such as a meeting to review your plan. Specific details of these services will be set out in your Agreement.
As an indication this service typically starts at $5,500 (including GST) per annum and the fee applied will be commensurate to the level of service needed and the complexity of the advice provided.
There are cases where an hourly rate may be applicable, these rateswill also apply for ‘Execution Only’ implementation (i.e. no advice provided). In these cases, the hourly rates will be confirmed prior to the service commencing.
While we prefer to operate as entirely fee based, we are currently unable to avoid commission payments from some product providers. At the time of writing, less than 5% % of our business revenue is commission based.
Where we arrange a life insurance product for you, the relevant insurer will pay an initial commission to us. The commission is calculated as a percentage of the premium paid (and may include health, occupational, frequency and modal loadings and policy fees, but excludes stamp duty).
The rates of initial and ongoing commission will depend on the date the policy is issued and are set out in the table below:
| DATE POLICY IS ISSUED | INITIAL COMMISSION % of annual policy cost incl. GST | ONGOING COMMISSION % of annual policy cost incl. GST |
| From 1 January 2020 | Up to 66% | Up to 33% |
For example, if your first year’s premium was $500 and the initial commission was 60%, BDO PWA will receive $300. If your premium for the second and subsequent years was $500 and the ongoing commission was 20%, BDO PWA will receive $100 p.a. We may receive commissions above the rate listed above for policies started prior to 1 January 2020, these will be disclosed to you via our statement of advice documents.
BDO Private Wealth Advisers are employees of the firm and as such, are salaried advisers. Our advisers do not receive any advice fees or commissions when providing financial advice.
BDO Private Wealth have a referral fee arrangement with a limited number of external groups. If you have been referred to us by one of these parties, a referral fee will be paid to the referring party (maximum fee payable is 20% of your fee).
For example, if your fee was $7,500, we will pay $1,500 to the referral party. The exact amounts of any fees, commissions, bonuses or other incentives received by BDO Private Wealth will be included in the Statement of Advice provided to you.
We are required to keep a register of Alternative Remuneration which details any payment other than fees and commissions which may be received by us from fund managers or product providers. This register is available for inspection with 7 days’ notice in writing.
These benefits assist with the provision of financial and marketing services, invitations to industry seminar presentations and conference registration fees. The maximum value of any such benefit is $300.
Where any such relationship or association exists with a fund manager, and we recommend you to invest in their product, we will explain the details of any benefit we may be entitled to receive. This information will also be included in the Statement of Advice we provide.
Our advisers may supervise a provisional financial adviser completing his or her professional year. If a provisional financial adviser works on your advice, their supervisor will inform you of matters relating to the provisional financial adviser in accordance with the Corporations Act 2001 (Cth).
A provisional financial adviser’s supervisor is responsible for any personal advice provided by the provisional financial adviser to you.
Australian Privacy Principles apply to how we collect and use personal information. The information you provide to us for the purposes of obtaining financial product advice must only be used to:
For details of how we collect and use your personal information, please refer to our privacy policy which is available on our website.
We are committed to meeting your needs and maintaining a high level of client satisfaction. If you are unsatisfied with a service we have provided you, we have avenues available to you for the investigation and resolution of any complaint you may have.
To make a formal complaint, please see the BDO Complaints Policy available on our website.
BDO Private Wealth Advisers Pty Ltd is a member of AFCA (Member Number 10515). Where you are unsatisfied with the resolution reached through our Internal Dispute Resolution process, you may escalate this complaint to the Australian Financial Complaints Authority (AFCA). AFCA can be contacted on 1800 931 678 (www.afca.org.au).
BDO PWA has in place Professional Indemnity Insurance that satisfies the requirement imposed by the Corporations Act 2001 s912B and ASIC’s requirements and covers present and past advisers.
Lachlan Kennett
Representative No. (000412868)
Lachlan may advise and deal in each class of products covered by our AFSL except for standard margin lending products.
Lachlan is paid a salary.
Peter Crump
Representative No. (001001166)
Peter may advise and deal in each class of products covered by our AFSL except for standard margin lending products.
Peter is paid a salary.
Brodie Coldwell
Representative No. (001311342)
Brodie may advise and deal in each class of products covered by our AFSL except for standard margin lending products.
Brodie is paid a salary.