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Level 1, 121 Paisley St,
Footscray, VIC. 3011

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Financial Services Guide

  • The Purpose of this Guide
  • Who is Responsible for the Financial Services Provided
  • Who do we act for
  • How to Contact Us
  • Our Services
  • Our Products
  • Retail Clients
  • Retail Client Issues
  • What We Expect From You
  • Personal Information
  • Claims
  • Our Sources of Income
  • How our Representatives are Paid
  • Cooling Off Provisions
  • Complaints
  • When does this FSG Apply From
  • Addendum

  • The Purpose of this Guide

    The Financial Services Guide (FSG) is designed to assist you in deciding whether to use any of our services and contains important information about:

  • The services we offer you
  • How we and our associates are paid
  • Any potential conflict of interest we may have
  • What to do in the event of a complaint
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  • Who is Responsible for the Financial Services Provided

    KISCO PTY LTD holds a current Australian Financial Services Licence (No 240763 to provide general insurance broking services.. We are authorised to advise and deal in the full spectrum of general insurance products.

    We are responsible for the financial services provided to you or through you to your family members, including the distribution of this FSG.

    In order to be granted and then retain our license we are required to commit to meeting stringent requirements in areas such as: staff training. organisational competence, management expertise, financial control and compliance disciplines.

    We have an ongoing requirement to maintain and enhance our professionalism to ensure that you receive fair and honest Financial Services from us.
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    Who do we act for

    We usually act on behalf and in your interest in all matters. In some situations, it may be more appropriate for us to access insurance arrangements or manage claims where we act as the agent to the insurer. If and when this situation arises we will clearly explain and highlight this to you.
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    How to Contact Us

    You are able to contact us by phone, in writing, by fax, email or in person. Please visit our Contact page for more information.
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    Our Services

    We offer a range of services to assist you to protect your assets and guard against unexpected liabilities including:

    Reviewing and advising on your insurance needs
    Identifying risk factors to avoid claims
    Seeking competitive premium quotations

    Please visit our Services and Products page for more information.
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    Our Products

    We can advise and arrange a broad range of insurances on your behalf:

    Home Building and Contents, Private and Commercial Motor, Farm, Business Packages, Construction, Liability, Industrial and Professional covers.

    Please visit our Services and Products page for more information.
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    Retail Clients

    Under the Financial Services Reform Act (The Act) Retail Clients are provided with additional levels of protection from other insurance purchasers. The Act defines Retail Clients as:

    • Individuals or a small manufacturing business employing less than 100 people or any other business employing less than 20 people.

    • And that are being provided a financial service or product that relates to the following insurance covers:

    • Motor Vehicle, Home building, contents, personal and domestic, Sickness and Accident or Travel, Consumer Credit and other classes as prescribed by regulations.
    Some of the information in this FSG only applies to Retail Clients and it is important that you understand whether you are covered by the additional protection provided.
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    Retail Client Issues

    If you are a Retail Client and obtain personal advice, that is, advice that takes into account your particular circumstances, we will give you a Statement of Advise, that sets out the advice provided as well as the basis on which the advice is made.

    If recommendations about the purchase of a particular financial product are made, we will also give you a Product Disclosure Statement at that time, which sets out details specific to that product.
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    What We Expect From You

    To enable us to provide you the right advice we need you to provide us with complete information about the risk(s) that you face and those that you want to be insured for.

    This should include information about your situation, needs and objectives. You should also tell us about any relevant changes as they occur so that we can review your insurance needs accordingly.

    If we do not have your complete information, we will be unable to properly review your circumstances, limiting our ability to give you the right advise. IN such cases you should assess the appropriateness of our advice to your need before acting on it.

    Of course we also ask you to pay our invoices on time and complete all proposal forms honestly, accurately and most importantly return them to us by the required date.
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    Personal Information

    The Federal Privacy Act 2000 sets our the standards for the collection and management of personal information. With your consent, we will only use your personal information in relation to general insurance services. Further information on this is available upon request.
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    We will try and take the pain out of the claims process by assisting and advising you in regard to the scope of cover and explaining how the claims process works.

    We will promptly forward to you all claims documentation, insurance company settlement cheques and other information.
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    Our Sources of Income

    We have the following sources of income:

    When we place insurance for you, we usually receive payment from the insurer. The amount payable varies between 0% and 22.5% of the base premium you pay. This is known as the commission. Full details on commission will be included in any Statement of Advice we send you.

    We have a set of standard Broker Fees that we charge you for the cost of services that are not covered by the commission will be included in any Statement of Advice we send you.

    We have a set of standard Broker Fees that we charge you for the cost of services that are nor covered by the commissions received from insurers.

    Activities that such fees cover include:

  • Market research on products available.
  • Accessing the claims paying ability of insurers.
  • Sourcing alternative quotations and coverage.
  • Risk analysis and insurance portfolio co-ordination.

  • All fees payable for our services will be advised to you at the time of providing the advice or service.

    Any premiums received from you are held in a trust account prior to forwarding to your insurer. The interest earned on this money will be retained by us.

    We are a shareholder of the buying group - Steadfast Group Ltd. Steadfast receives up to 1% commission on premiums paid from certain insurers. This income is used to operate Steadfast and any surplus funds may be paid to us as a dividend or as a rebate.
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    How our Representatives are Paid

    Our representatives do not receive any benefit directly from the sale of a product to you. Our focus is on ensuring that staff concentrate on your needs first in all dealings with you.

    Our representatives may receive bonuses payable based on the overall performance of our business. Any such bonuses are not directly and solely linked to the sale of Financial Services.

    If a person has referred you to us, we may pay them a part of any fees or commission received. This will be disclosed in any Statement of Advice you receive.
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    Cooling Off Provisions

    All retail products are subject to a 14 days 'cooling off period'. This means that if you are not happy with the product, you have 14 days to withdraw from the contract at no cost to you.
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    Clients who are not fully satisfied with our services should contact our complaints officer. We are also members of the Insurance Brokers Disputes Limited (IBD), a free consumer service.

    We also adopt the General Insurance Brokers Code of Practice. Further information is available from our office, or contact IBD directly on 1800 064 169 or visit
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    When does this FSG Apply From

    This FSG was prepared on the 24th of February 2004.
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    Australian Financial Services Licence No. 240763

    Kisco Pty Ltd is a shareholder of Steadfast Group Limited (Steadfast). Steadfast has exclusive arrangements with some insurers under which Steadfast will receive between 0.5 - 1% commission for each product arranged by us with those insurers.  These payments are used to operate Steadfast.

    Depending on the operating costs of Steadfast (including the costs of member services provided by Steadfast to us and other Steadfast shareholders) and the amount of total business we place with the participating insurers in any financial year, we may receive a proportion of that commission at the end of each financial year.

    As a shareholder of Steadfast we have access to member services including model operating and compliance tools, procedures, manuals and training, legal, technical, banking and recruitment advice and assistance, group insurance arrangements, product comparison and placement support, claims support and group purchasing arrangements. These member services are either funded by Steadfast, subsidised by Steadfast or available exclusively to shareholders for a fee. You can obtain a copy of the Steadfast Group FSG at

    If we arrange premium funding for you we may be paid a commission by the premium funder.   We may also charge you a fee (or both). The commission that we are paid by the premium funder is usually calculated as a percentage of your insurance premium (including government fees or changes) (funded premium). If you instruct us to arrange or issue a product, this is when we become entitled to the commission.
    When you pay us your premium it will be banked into our trust account. We will retain any interest earned on the premium while in our trust account.

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       Copyright © 2005 Barrie Macdonald & Associates. All Rights Reserverd. Kisco Pty. Ltd • ABN 74 848 167 250   
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