The privacy of your personal information is always important to us at Wealth Management Solutions.
This statement is an outline of certain matters relating to the collection and handling of your personal information by Wealth Management Solutions.
The statement is for you if you are:
- client of Wealth Management Solutions (“Client”); or
- representative of a Client (for example, a signatory), a beneficiary (which includes a potential beneficiary) or some other kind of third party relevant to a Client (for example, a guarantor) (each a “Third Party”).
Collecting your personal information
The purposes for which your personal information is collected will depend on the organisation with which you deal. Personal information is collected by Wealth Management Solutions offering:
- financial planning or broking services or investment products such as managed funds, investment services, superannuation funds, investment bonds, retirement savings accounts and related lifestyle products or services
- life insurance products which includes those offered in conjunction with other products or services.
If you are, or may be, acquiring or have acquired a product or service from Wealth Management Solutions, we will collect your personal information for the purposes of:
- providing you with the relevant product or service (including assessing your application and identifying you)
- managing and administering the product or service
- protecting against fraud where it is a banking and finance or insurance product or service.
Wealth Management Solutions may also collect your personal information for the purpose of letting you know about products or services that might better serve your financial, e-commerce and lifestyle needs or promotions or other opportunities in which you may be interested.
If you are a representative of a Client then your personal information will be collected for the purpose of identifying you.
If you are a beneficiary your personal information will be collected for the purpose of determining whether you will be paid a benefit that has become payable upon another person’s death.
If you are any other type of Third Party your personal information will be collected for the purpose of providing the Client with the relevant product or service (including assessing their application and identifying them), managing and administering the product or service or protecting against fraud where it is a banking and finance or insurance product or service.
If Wealth Management Solutions does not obtain the information it seeks it may not be able:
- to process your request
- to manage or administer your product or service
- to tell you about other products or services from across the Group that might better serve your financial, e-commerce and lifestyle needs
- if you are a representative, to verify your authority to act on behalf of a Client;
- if you are a beneficiary, to consider the information you have not provided in determining whether you will be paid a benefit
- if you are another type of a Third Party, to provide a Client with the relevant product or service (including assessing their application and identifying them), manage and administer their product or service or protect against fraud.
Using and disclosing your personal information
In line with modern business practices common to many financial institutions and to meet your specific needs (such as where you have a financial adviser) we may disclose your personal information to the organisations described below. Where your personal information is disclosed we will seek to ensure that the information is held, used or disclosed consistently with the National Privacy Principles in the Privacy Act 1988 (Cwlth), any relevant Health Privacy Principles under state legislation* and other applicable privacy laws and codes.
The relevant organisations are those:
- involved in providing, managing or administering your product or service such as third party suppliers, loyalty and affinity program partners, printers, posting services, call centres, lenders mortgage insurers and our advisers
- in our organisation who wish to tell you about their products or services that might better serve your financial, e-commerce and lifestyle needs or promotions or other opportunities, and their related service providers, except where you tell us not to
- who are your financial adviser and their service providers
- involved in maintaining, reviewing and developing our business systems, procedures and infrastructure including testing or upgrading our computer systems
- involved in a corporate re-organisation
- involved in a transfer of all or part of the assets or business of a Group organisation
- involved in the payments system including financial institutions, merchants and payment organisations
- involved in product planning and development
- which are your representatives including your legal advisers
- as required or authorised by law, for example, to government or regulatory bodies for purposes related to public health or safety, the prevention or detection of unlawful activities or to protect public revenue
- where you have given your consent.
In addition, for our organisation offering:
- financial planning or broking services or investment products—other organisations to which personal information is usually disclosed are superannuation and managed funds organisations and their advisers, organisations in which you invest and other organisations involved in our normal business practices (such as securitisation)
- life insurance products—other organisations to which personal information is usually disclosed are medical professionals, medical facilities, health authorities, assessors, underwriters, reinsurers and fraud detection agencies and other organisations involved in our normal business practices.
Your personal information may also be used in connection with such purposes.
Because we operate throughout Australia, some of these uses and disclosures may occur outside your State and Territory.
It is our practice to seek your consent to use or disclose your personal information to tell you about, and develop, other products or services from across the Group that might better serve your financial, commerce and lifestyle needs, or other promotions or opportunities in which you may be interested. This may be done after an initial marketing contact. We assume we have your consent to use service providers to assist us with this (such as a posting service or an advertising agency), unless you tell us otherwise (see “Contacting Us” below).
Gaining access to your personal information
You can gain access to your personal information. This is subject to some exceptions allowed by law. We will give you reasons if we deny access.
Contact us to get a form requesting access (see “Contacting Us” below). In some cases, we may be able to deal with your request over the telephone or over a counter.
Client Service Representative.
For more information about privacy in general, you can visit the Federal Privacy Commissioner’s website www.privacy.gov.au.
*For example, those contained in the Health Records Act 2001 (Vic) or the privacy provisions contained in Part 2 of the Health Records (Privacy and Access) Act 1997 (ACT) and other applicable privacy laws and codes.
This document is confidential and proprietary to Wealth Management Solutions and cannot be used, disclosed, or duplicated without the prior written consent of Wealth Management Solutions.
This is an unpublished work protected by federal copyright laws and no unauthorized copying, adaptation, distribution or display is permitted.