In Australia, persons or entities giving ‘financial advice’ as defined by law and regulations need to be licensed to do so. At SkilledSmart, we aim to provide content for informational and entertainment purposes. However, there is some grey area in the definition of what is considered ‘advice’ so, for good measure, we are authorised to provide general advice.
We became a Corporate Authorised Representative of Climb Wealth Pty Ltd. This means that Climb Wealth is the primary (or ‘parent’) licence holder. As the primary licence holder, Climb Wealth can authorise other people or companies (like SkilledSmart) to provide financial advice.
Financial Services Guide (‘FSG’)
Date last updated: 6 December 2023
SkilledSmart Pty Ltd (ABN: 45616785089) (“we”, “our” or “us”) is a Corporate Authorised Representative (001299934) of Climb Wealth Pty Ltd (‘Climb Wealth’). Climb Wealth has authorised SkilledSmart to provide general financial advice.
Climb Wealth holds an Australian Financial Services License (409424) and is authorised to provide financial advice and deal in life risk insurance products. Climb Wealth may be contacted by phone 02 8238 0800 or in writing to Level 13, 447 Kent Street, Sydney NSW 2000.
The purpose of this FSG is to assist you in making a more informed decision about deciding to use any of our services. It also contains information about remuneration we may be paid, and information about how complaints about us may be dealt with. The distribution of this FSG has been authorised by Climb Wealth.
Lack of Independence
SkilledSmart does not accept any commissions for promoting, recommending or referring people to financial products. However, Climb Wealth authorises other financial planners who may accept commissions. As a result, according to the Corporations Act, SkilledSmart cannot claim to be ‘independent’ since others are authorised by Climb Wealth to accept commissions.
What we do and how we get paid
SkilledSmart produces and publishes content on topics relating to personal finance, money and wealth management. We do this on various platforms (including our website, email newsletter, social media platforms, and third-party media channels such as TV, newspapers, radio etc) and using various mediums (including audio, video, written, in-person events, etc).
The primary way we make money is by producing ‘paid offerings’, which is content that we produce and sell for a fee. So, while much of the content we produce is freely available to our audience, some of the content we produce is sold as a product, and only accessible to those who pay for access to that content. For instance, we have produced a course called ‘Mastering Money’ which we charge a fee for. We have also run live in-person and online events, some of which charged a registration fee.
The price of our paid offerings can vary depending on the offering, and promotions we may be running and that you may be eligible for. Prices will be clearly outlined prior to purchase.
We may also be paid by various organisations to create, produce or deliver content for them. For example, media outlets may pay a fee for us to produce articles for their site, and businesses may hire us to deliver events or workshops to their staff.
To run our business, we pay our shareholders, staff and contractors to work with or for us. These payments may take the form of salaries, dividend payments, fixed or hourly fees, and in some cases there may be performance-based fees. Our staff do not receive any direct financial compensation (such as commissions) from financial product issuers or manufacturers for promotions or referrals in connection with the work they do with us.
SkilledSmart does not accept commissions or financial compensation from issuers of financial products for product promotions, referrals or recommendations. If we mention a financial product or issuer of financial products in our content or in our services (e.g. banks accounts, super funds, investment platforms etc), it is purely for informational purposes. If you choose to sign up with these products or services, you do so at your own discretion, and we do not receive any direct financial compensation for you doing so.
We are authorised to provide general financial advice
SkilledSmart is authorised by Climb Wealth to provide general financial advice. In doing so, we act on our own behalf and are not providing these services as your agent or broker.
SkilledSmart is not authorised to provide personal financial advice. The information we provide is general in nature and does not consider your personal circumstances, and therefore may not suit your personal needs. Please consider the suitability of the information we provide in relation to your own personal circumstances, needs, and goals, before making any decisions.
This includes any information we provide when responding to a question you have asked us. There are some mediums through which we engage with community members or customers directly (e.g. via social media platforms, live events, email etc). In such interactions, we do not consider your personal circumstances in the information or responses that are provided to you.
Even if you share some of your circumstances with us, this does not mean we can or intend to give you information that is tailored to your circumstances. We do not have visibility into your complete situation, and even if we did, we are not authorised to provide personal advice. Any information provided by us is general in nature and may not be suitable for your personal circumstances.
As part of the content we produce, we may collaborate with external parties (such as professionals, industry experts, thought leaders, finance enthusiasts, or other such guests). For example, we may conduct an interview of a financial professional, or engage an industry expert to provide commentary on a particular topic. We do our best to source trusted parties to collaborate with, however we are not responsible for the comments, views or opinions of any such external parties. The opinions and information they share are their own, and may not be reflective of our views and opinions.
If required, please consider engaging a licensed financial professional who can give you personal financial advice suited to your personal circumstances.
Since we do not provide personal financial product advice, you will never receive a “Statement of Advice” (SoA) from us.
In our content, we may provide links to or references to third-party providers of financial products (like banks, superannuation funds etc). These are not recommendations from us, but purely provided for informational purposes.
Before purchasing or signing up for any financial products, we encourage you to read the ‘Product Disclosure Statement’ (PDS) for that product. The PDS contains information about the product which may assist you in understanding the risks, fees and product features. The PDS can be requested from, or found on the website of, the provider of the financial product.
Relationships and Conflicts
SkilledSmart Pty Ltd is a privately owned company. We are not owned by any banks, financial institutions, investment companies, insurance companies, fund managers, or issuers of financial products, so the services we provide are not directly influenced by product issuers.
There is also no percentage based fee or commission we pay to Climb Wealth. We pay a fixed monthly fee to Climb Wealth for our authorisation and professional indemnity insurance.
Climb Wealth and other companies authorised by Climb Wealth may be related to financial product companies and have relationships with them that may influence the advice they provide.
Professional Indemnity Insurance
Through our authorisation and relationship with Climb Wealth, we are covered by a group policy for professional indemnity insurance for the information we provide. The policy satisfies the requirements imposed by the Corporations Act 2001 and financial services regulations.
If you decide to purchase one of our products or work with us, there may be some personal information we collect about you, including things like your name, email address, phone number, address and payment details. We may also keep any correspondence that occurs between us (such as emails that you write to us).
We do our best to keep your information secure and do not disclose your personal information to third parties. This does not include trusted third party services we may engage to operate our business and the services we provide, including website maintenance, marketing, or administrative management. Such third-party providers may require access to some information in order to provide the services we have engaged them for.
Feedback and complaints
We welcome your feedback on the information and services we provide. While we aim to provide a good service to our customers, if you do have any concerns or complaints please contact us via email at the following address: [email protected]
We aim to acknowledge the receipt of, and resolve, complaints in a timely manner.
If you are not satisfied with the resolution of the complaint within 30 days, please put your complaint in writing to Climb Wealth by sending an email to: [email protected] or a letter to: Compliance Manager Climb Wealth, Level 13, 447 Kent Street, Sydney NSW 2000
Climb Wealth will try to resolve your complaint quickly and fairly. If your complaint has not been resolved satisfactorily, you can contact the Australian Financial Complaints Authority (AFCA) (https://www.afca.org.au)