Financial Services Guide
Current as of 1 January 2025
This Financial Services Guide has been prepared and is provided by Ross Forsyth Insurance, a trading name of Ross Forsyth Insurance Pty Ltd ABN 20 335 803 299, Australian Financial Services Licence number 245361
Purpose of this Document
This Financial Services Guide (FSG) is intended to inform you about us and is designed to assist you in deciding whether to use any of our services provided by Ross Forsyth Insurance and our representatives. It contains information about the financial services we provide, the remuneration that may be received in respect of those services and how complaints you may have are dealt with.
This is a very important document and we recommend that you read it carefully. If you need further explanation or unsure about any part of this guide we encourage you to ask us any questions you may have.
Ross Forsyth Insurance is not independent, impartial or unbiased because we receive commissions for the advice, we provide on life risk insurance products.
About Us
For over 3 decades Ross Forsyth Insurance has supported thousands of Australians and arranged insurance cover for individuals, families and businesses. You get access to multiple life insurance companies, a huge range of personal insurance products, competitive pricing and helpful service when it's required.
Getting your insurance right takes expertise, time and inside knowledge.
The Financial Services we provide
Ross Forsyth Insurance is a financial services business and is authorised to provide financial advice and deal in the following financial products to retail and wholesale clients.
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deposit and payment products limited to:
- basic deposit products, and
- deposit products other than basic deposit products
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life products limited to:
- life risk insurance products, as well as any products issued by a Registered Life Company that are backed by one or more of its statutory funds
- superannuation - for life risk insurance products only
Types of Advice Services we provide
The advice you will receive from us is General Advice.
General advice is a general recommendation or opinion given without taking into account your individual objectives, financial situation or needs. A person who gives retail clients general advice must warn the client that the advice does not take into account the client’s individual objectives, financial situation or needs. Where we provide you with general advice, we will also provide you with a General Advice Warning. The General Advice Warning will be given in the same manner (that is, in writing or verbally) as the advice is provided. We will provide you with a PDS.
Typically we provide our retail clients with advice that is factual and general. Because of this, you need to make your assessment of the information we provide and consider your own needs and circumstances.
We are not registered tax (financial) advisers and we don’t provide tax (financial) advice. For this you will need to speak to an accountant or tax agent.
After you engage with us, we will act on your instructions, whether you provide them by telephone, email, letter, fax or other means agreed to by us.
Our compensation arrangements
We have arrangements in place to maintain adequate professional indemnity insurance as required by Section 912B of the Corporations Act. This insurance provides cover for claims made against us and our representatives including claims in relation to the conduct of representatives who no longer work for us, but who did so at the time of the relevant conduct.
How is Ross Forsyth Insurance Remunerated
We receive our commissions from the Life Insurance Company. Commission is calculated as a percentage of the life insurance premium paid by you and is not an additional cost to you. The commission payable may range between 0 - 66% of your first year’s premium. In Year 2 and thereafter, an ongoing commission is payable. This may range between 0 - 22% and is paid as premiums are received. Your representative, Ross Forsyth receives a salary. Ross Forsyth Insurance does not have any relationship or association with any product issuer that could be expected to influence us in the provision of the financial services. Should another third party such as an accountant refer you, we may pay the referrer a payment for this service which will be disclosed to you.
Benefits of Small Value - From time to time, we may receive ‘benefits of small value’ from product issuers and other financial service providers we deal with. These can include entertainment (eg lunches, movie tickets), business tools (eg software), and gifts (eg promotional items, bottles of wine). We do not accept any benefits of small value of $300 and above from product issuers or service providers.
Third Party Referrals
Ross Forsyth Insurance may pay a benefit to third parties, in exchange for that third party referring clients to Ross Forsyth Insurance. The amount of that benefit can be up to $100. These benefits are not an additional change to you.
Information on your File and Privacy Protection
We maintain a record of all the information you provide to us. We will ensure that your personal information remains confidential at all times. If you wish to examine your file, please ask us and we will make arrangements for you to do so. Please refer to our website www.rfinsurance.com.au for full details of our Privacy Policy Statement.
Complaints and Disputes
If you are not fully satisfied with our services, you should take the following steps:
- Step 1: Most complaints arise from miscommunication and can usually be resolved quickly. So please, contact us on 1800 330 431 or email us at info@rfinsurance.com.au and tell us about your concerns.
- Step 2: If the matter is not satisfactorily resolved within 7 days by talking with our representative, we will apply our internal complaints process to manage your concerns. In these circumstances the complaint will be escalated to our Complaints Officer or you can contact them on 1800 330 431 or in writing at PO Box 333, Walkerville SA 5081.
- Step 3: If you still do not get a satisfactory outcome within 30 days, then you may send your complaint to the Australian Financial Complaints Authority, or (AFCA). This external, independent body offering free and accessible dispute resolution services to clients who have tried to resolve their complaint with their financial institution.
Contact Details
| Website: | www.afca.org.au |
| Email: | info@afca.org.au |
| Telephone: | 1800 931 678 |
| In writing to: |
Australian Financial Complaints Authority GPO Box 3, Melbourne VIC 3001 |
Authorised Representative Details
| Name: | Ross Forsyth |
| Position: | Director of Ross Forsyth Insurance, a trading name of Ross Forsyth Insurance Pty Ltd |
| Qualifications: |
Diploma of Financial Services (Financial Planning) Bachelor of Applied Science |
| Experience: | Commenced in the Financial Services Industry in 1984 |
| Authorised Representative No: | 001237424 |
Contact Details
| Address: | Suite 9, 60 North East Road, Walkerville SA 5081 |
| Postal Address: | PO Box 333, Walkerville SA 5081 |
| Telephone: | 1800 330 431 |
| Email: | info@rfinsurance.com.au |