At Grant Wealth Management the privacy of your personal information is of utmost importance. We appreciate the confidential nature of the information you provide to us and are committed to protecting this to maintain the trust and relationship between client and advisor.
This document is to provide you with information about how your personal details are collected, stored and used. As a company we are bound by the legislation of the Privacy Act and seen to protect your information according to the Australian Privacy Principles
Why we collect and use your personal information
In order to assist you with creating a financial plan that is specific to your needs we need to gather your personal information for this process. This allows us to satisfy our Best Interest Duty so we can tailor your plan to your individualised needs. Gathering of your personal information is also used to satisfy other legal requirements to verify your identity as required by the Anti-Money Laudering and Counter-Terrorism Financing Act 2006.
What Information is collected
We may require you to provide a variety of personal information including (but not limited to) your name, date of birth, contact details, financial and banking information, employment details, residency, and citizenship status. Other information that we may require to collect includes details of family members where this is relevant to the advice being provided.
In specific cases sensitive information such as medical and health history and lifestyle aspects may be required by law if applying for certain financial products.
How we collect information
We always seek to gather information directly from you, our clients. This allows for open understanding of the data we have gathered. This is often done through varying methods including in person, over the phone, via websites or email or other forms of written correspondence. We have a duty of care to ensure your information is always up to date and relevant and we do this by conducting regular reviews and updating your information as it is presented to us.
We may also collect data from publicly available sources such as the electoral roll or other websites for example Share registries. WHen we do this we are required to notify you that we have accessed this information as soon as practically possible.
The collection or sharing of information from third parties is only done when written authority has been granted from you, the client. Your consent to access this information may be withdrawn at any time in writing.
How your information is used
The gathering and use of your information is in direct relation to the products and services being recommended to you. At times we may be required to share this information with entities either outside or within the Licensee depending on the products and services being offered. Use of your personal information will be for the primary purpose for which is was collected or in other ways you as the client may expect such as
- Assessing risk profiles
- Assessing investment needs and providing appropriate advice, plans or products
- Recommendations for insurance products
- Executing your instructions
- Direct marketing
- Due diligence
Third Party Agents
At times throughout the implementation of your personalised financial plan Grant Wealth Management may engage with third party agents. These agents include but are not limited to:
- Shareholder Registries
- Asset Managers
- Administrators of WRAP accounts
- Insurance Underwriters
- Financial Institutions
- Government or Regulatory Bodies
These third party agents do not disclose the information provided to them to fourth parties, unless required by law or with direct consent from you as the client. Grant Wealth Management does not sell, rent or trade your personal information.
In certain situations the third party agent may be operating outside of Australia, for example in the use of Australian Paraplanning companies that operate offshore. Grant Wealth Management will ensure all reasonable steps be taken to protect your information in line with the Privacy Act. As such we take full responsibility for any breaches of your privacy.
In certain circumstances that allows Grant Wealth Management to disclose your personal information for secondary purposes according to the Australian Privacy Principles. These include:
- Where directed or required by Australian law or a court/tribunal order
- In the event of a serious threat to life, health or safety of an individual or public
- In the event that unlawful activity or misconduct of a serious nature is suspected
- It is required for the establishment, exercise or defence of a legal or equitable claim
- For the purposes of dispute resolution.
We aim to keep your personal information as safe and securely as possible
The practises that we undergo to protect your personal information include:
- Using password protected systems
- Employing physical and electronic means for safety including cyber security software and access controls.
- Providing secure storage for physical records
AFter a period of seven years your information is no longer required, we de-identify your information and destroy them in a secure manner.
If a data breach occurs and your personal information is disclosed and is likely to result in serious harm to any individual, this matter will be disclosed to the Compliance Manager and will be dealt with.
Complaints about privacy
If you have any questions or concerns about how your personal information has been collected, used or stored and you wish to make a complaint, please contact the Compliance Manager on the contact details below
Mail: PO Box 3424, Sunnybank South, QLD, 4109
Phone: 0478 922 270
If you are not fully satisfied with the outcome of your complaint you can contact the Office of the Australian Information Commissioner (OAIC) through the following contact details below:
Mail: GPO Box 5218 Sydney, NSW, 2001
Phone: 1300 363 992