Financial Services Guide

Effective 04 May 2024

The financial services referred to in this financial services guide (FSG) are offered by:

Authorised Representative

Name: CP Insurance Pty Ltd

ABN: 24 679 312 460

CAR No: 1312450

Address: Suite 801, Level 8, 111 Pacific Highway, North Sydney NSW 2060

Phone: 1300 673 171

Email: kerry.mcgrath@cpfi.com.au

Website: www.cpfi.com.au

Australian Financial Services Licensee

Name: McLardy McShane Partners Pty Ltd

AFSL No: 232987

Address: Suite 801, Level 8, 111 Pacific Highway, North Sydney NSW 2060

Email: info@allriskprotection.com.au

What is a Financial Services Guide (FSG)?

This FSG sets out the services that we can offer you. It is designed to assist you in deciding whether to use any of those services and contains important information about:

  • The services we offer you;
  • How we and others are paid;
  • Any potential conflicts of interest we may have;
  • Our internal and External Dispute Resolution procedures and how you can access them; and
  • Arrangements we have in place to compensate clients for losses.

In addition to this FSG, you may receive other important documents, depending on the nature of the service we provide:

  • Terms of Engagement / Engagement Letter: A document that sets out the scope of our services, costs and ongoing arrangements.
  • Product Disclosure Statement (PDS): A document that outlines the key features, benefits, risks, and costs of the insurance product being recommended or arranged.
  • Statement of Advice (SOA): Required when we provide personal advice to a retail client - it outlines the advice given, the basis for it, and any fees or benefits we may receive.
  • Record of Advice (ROA): Used when personal advice is given but an SOA is not required (e.g. where your circumstances have not significantly changed since the last SOA and you request the advice again).
  • General Advice Warning: If we only provide general advice, we will give you a clear warning that the advice does not consider your personal circumstances.
  • Policy Schedule: A summary of the specific details of the insurance cover arranged on your behalf.
  • Confirmation of Transaction: If you do not require or are not given advice and we proceed to act for you on a non-advice basis, we will provide a Confirmation of Transaction so that you know we are proceeding and how you can give your informed consent.
  • Target Market Determination (TMD): Where applicable, this outlines the class of consumers a product is suitable for and is required under product design and distribution obligations.

These documents are provided to ensure you receive clear, accurate, and transparent information to help you make informed decisions about your insurance and the services we provide.

Lack of Independence Disclosure

Why are we not independent, impartial or unbiased in relation to the provision of personal advice and/or in respect of this act?

We, McLardy McShane Partners Pty Ltd, are not independent, impartial or unbiased pursuant to section 923A of the Corporations Act because:

  • We may receive commissions or other benefits from insurers and other service providers (such as premium funders) in connection with the financial services we provide.
  • We may have associations or relationships with issuers of insurance products and other financial products. Further information about these associations and relationships is set out in this Financial Services Guide.

If you have any questions about this information, please ask us.

From When Does This FSG Apply?

When does this FSG apply?
This FSG applies from 04 May 2024 and remains valid unless and until a new FSG is issued to replace it. Should we wish to give you a replacement FSG, it will not replace this FSG until you have received and acknowledged it.
How can I contact you?

You can contact CP Insurance Pty Ltd:

Who is responsible for the financial services provided?
McLardy McShane Partners Pty Ltd (AFSL 232987) is responsible for the financial services we provide on their behalf. CP Insurance Pty Ltd is a Corporate Authorised Representative (No. 1312450) of McLardy McShane Partners Pty Ltd and acts on their authority in providing these services to you.
What kinds of financial services are you authorised to provide, and what kinds of financial products do those services relate to?

McLardy McShane Partners Pty Ltd is authorised to deal in and to provide general advice on general insurance products including the distribution of the relevant Product Disclosure Statement (PDS).

CP Insurance Pty Ltd is authorised to provide the following financial services as set out in the licence of McLardy McShane Partners Pty Ltd: dealing in and providing general advice on general insurance products.

Contractual liability and our limitation of liability
McLardy McShane Partners Pty Ltd maintains professional indemnity and public liability insurance as required under the Corporations Act. To the extent permitted by law, McLardy McShane Partners Pty Ltd limits its liability in respect of all claims arising from the provision of financial services. Details of those limitations are available on request.
What information do you maintain about me?
We maintain a record of your personal profile, including details of your insurance arrangements and contact information. We are committed to protecting your privacy and handling your personal information in accordance with the Privacy Act 1988. You may request access to the information we hold about you by contacting us. A copy of our Privacy Policy is available on request and on our website.
Will I receive personalised advice?

In some cases we may provide you with personal advice. If we do, we will consider your personal circumstances, objectives, and financial situation. To do so we will first ask relevant information from you. If we provide personal advice, we will document this in a Statement of Advice (SOA).

In other cases we may only be able to provide information when requested, or asked to implement a decision you have already made. In these cases we may provide general advice or a Confirmation of Transaction rather than an SOA. You should be aware that general advice does not take into account your personal circumstances.

Where we provide you with advice based on incomplete or inaccurate information you provide to us, the advice or service may not be appropriate to your needs. You should read all documents carefully and let us know if your circumstances change at any time.

How will you be paid for the services provided?

We are remunerated for providing financial services by receiving a commission from the insurer. This commission is calculated as a percentage of the premium you pay (excluding government charges).

We may offer discounts on our commissions in some cases. In other cases we may charge you a broker fee in addition to, or instead of, a commission. In all cases we will disclose the applicable remuneration to you before we provide you with any financial services.

If you cancel a policy within a certain period, we may have to repay some of the commission we have received. In that event, we may charge a cancellation or service fee to cover our costs. We will advise you of any fees payable before we proceed.

Why are we remunerated?

We may be paid by different organisations (package brokerages) for you. Insurance costs are based on risk.

We usually get a commission from the insurer, shown as a percentage on your premium. This is calculated as a percentage of the base premium amount (excluding statutory charges such as stamp duty and GST). Typically, brokerage commissions range between 0% and 30% of the base premium.

We may also charge you a service fee for the work we do in addition to any commission. This will be disclosed to you at the time of placement.

We may also charge you a service fee for the work we do as an addition to the commission. This will be disclosed and agreed with you.

Other benefits: Sometimes insurers/underwriting agencies provide us with other benefits such as marketing or technology support, training, and financial assistance. We can obtain commissions between 0% and 30% of the base premium for these insurance products.

If we provide personal advice, we will disclose any payments as a benefits accordingly. Do not hesitate to contact us for information about our remuneration or the benefits we receive.

Do you have any relationships or associations that might influence the financial services you provide?

McLardy McShane Partners Pty Ltd uses the National Insurance Brokers Network (NIBA) for network services. Our Steadfast membership gives us access to exclusive products, market facilities and products available to Steadfast members. Steadfast is a publicly-listed company (ASX: SDF) and operates an insurance broker network across Australia.

These services are written through Steadfast, underwritten (directly or indirectly) to various insurers. These services provide us with various member services, broking tools, flat administration and technical support services, professional development, and a range of member-only services such as shared infrastructure and back-office services.

In return for these services, we pay Steadfast a membership fee. Steadfast does not provide any direct financial advice to our clients.

On average and on a portfolio basis, using our broker portal, we may pay a commission to the premium funder. We also receive commissions as a percentage of the insurance premiums on placements made through Steadfast facilities.

Our commission objectives and the remuneration in the range of 0% to 30% of the full premium. Where applicable, the commission we may receive is included in the premium charged by us to you. We consider the commission to be reasonable given the nature and scope of services we provide.

What will you do if I have a complaint?

McLardy McShane Partners Pty Ltd is your complaint contact. You can lodge a complaint in writing to:

  • Address: Suite 801, Level 8, 111 Pacific Highway, North Sydney NSW 2060
  • Email: info@cpfi.com.au

Steps to follow if you have a complaint:

  1. Contact us so we can try to resolve your complaint quickly and fairly.
  2. If you are not satisfied with our response after 30 days, or at any time, you may escalate your complaint to the Australian Financial Complaints Authority (AFCA), a free and independent external dispute resolution service.

Australian Financial Complaints Authority (AFCA)

Email: info@afca.org.au

Phone: 1800 931 678

Address: AFCA, GPO Box 3, Melbourne VIC 3001

Website: www.afca.org.au

If you have any questions or require further assistance about the financial services McLardy McShane Partners Pty Ltd provides, please ask us. Please retain this document for your reference and any future dealings with McLardy McShane Partners Pty Ltd.