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We encourage you to ask us about
our charges, the type of advice we will provide, and what
you can do if you have a complaint about our services.
When we offer services for strategic planning it is important
to know each client personally. We can then match our
expertise to the right individuals that insist on unique
and personal approaches to financial planning and risk
management.
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What
is the registration of othe Harlock Group of Companies?
Harlock Group of Companies is a Canberra based firm established
in 1972 with the introduction of Harlocks Pty Limited focusing
on insurance. Harlock Investment Services was formed in
1999, all advisers hold Financial Services Licence authorities
also referred to as Authorised Representatives. |
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Who
are the central team members of your firm?
Our directors for Harlocks Insurance Division are James Mullins covering general insurance schemes and risk management
projects. Harlocks Investment Services was founded by Graeme Mullins, who is Chief Investment Officer and Managing Director.
He heads the internal research team which additionally consists
of Stephen Hurford; they all have the relevant knowledge, education and authorities from Financial Services Licensees. There are five members
within our client services team who hold specific authorities,
they can generally provide assistance when advisers are
unavailable. We draw on external research firms which have
the best reputations in the industry. We only use independent
sources of information so that we never engage in activities
that are a conflict of interest with our clients. |
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Who owns
and operates the group?
Three out of every four financial planning dealer groups in Australia are
owned by product providers. Additionally, merger acquisition
and takeover activity is high. You should always ensure
you are comfortable with your advisers ownership. The
products institutionally owned dealer groups can advise
on may cause a conflict of interest.
The Harlock Group has two Proprietary
Limited Companies (Pty Ltd), privately and independently
owned and operated. Harlock Investment Services is completely
independent of any institution or product providers. Harlocks
Insurance Division may work with single Insurance Companies
when underwriting their schemes.
Harlocks Pty Limited administers
the general insurance schemes, risk management projects
and all aspects of the firm. Harlock Investment Services
Pty Limited specialises in client investment relations
and insurance broking. Graeme
Mullins performs the detailed investment and life
insurance operations and co-manages the investment committee.
Warrington Private Wealth coordinates back
office
administration for financial planning. All our long-term
team members have specific incentives that motivate them
to act as business owners. |
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What characteristics
distinguish Harlock Group from its competitors?
We believe that our firm has distinguished itself in five
significant areas: |
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Our Innovative
History - We have
found niche opportunities in the insurance industry
and continue to utilise our position in this market.
In this thinking we strive to deliver unique financial
planning advice to our clients. |
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Our
Values-Based Conduct - Our decisions are
driven by reliability to our clients and an understanding
of their needs. Our long-term success is motivated
by our loyalty, and by always putting the client's
interests first. |
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Our
Research - We believe that research and information
is
a vital part of our continuing business success.
We spend a considerable portion of our income on
research, education
and conference attendance. Specialist research gives
precise and up to date information on various Funds,
products, investment options, strategies and recommendations.
We use a number of stockbrokers for up-to-the-minute
research and our clients' direct investment exposure. |
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Comprehensive
Choice - We use wholesale funds which provide
lower costs to our clients. Additionally, stockbrokers
provide us with extensive listing opportunities.
We have the ability to access funds that are closed
to retail investors. |
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Our
Relationships - Our clients include individuals,
companies and foundations. We believe strong client
relationships are developed out of an accurate
understanding of each client's individual needs
and objectives. Our team members endeavour to
make the practice of exceptional service the foundation
of our services. |
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What Financial Services can you
offer?
The advisers at Harlock Investment Services are experienced
in all aspects of financial planning, ranging from an extensive
knowledge of financial markets and investment strategies,
through to insurance and superannuation.
The
initial consultation with the adviser is free of charge
to the client. At this time the adviser will sit down
with the client and find out exactly what the client’s
objectives and goals are. This includes discussions on
past experiences with investments, attitude to taxation
issues, and what the client’s overall cash flow
position is.
If the adviser believes that he can
provide an ongoing service to the client, then a fee will
be charged for the drafting of a detailed financial plan,
including recommendations and strategies based on the
discussions held with the client, regarding objectives,
goals and risk profile.
If they agree to proceed with the
plan and the adviser’s advice thus far, they then
become a client of Harlock Investment Services.
One of the unique attributes of Harlocks
is that the client relationship is "retainer based". This
means that the client pays only one payment per year,
that payment being to retain the services of Harlocks.
Any commissions made by Harlocks are, wherever possible,
reinvested for or returned to the client. This means that
the advice regarding all aspects of the client's financial
position is made on an objective basis, rather than a
product basis or commission basis.
Clients of Harlock Investment Services
receive advice based on the benefit of recommendations
for that individual client, not based on commissions or
remuneration that may be received by Harlock Investment
Services. The fact that commissions are rebated to the
client means that an impartial service can be provided. |
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What are your
fees?
The initial consultation with the adviser is free of charge
to the client.
All of our services are provided on a fee-only basis. We
never accept commissions on any of our investment vehicles,
nor do we accept or give referral fees. All commission and
brokerage, which would normally be paid to us for placing
investments on behalf of clients, is rebated to the client.
This means that our clients are paying us for on-going strategy
advice as well as investment selection and investment strategy
advice. For preparation of a financial plan our fee would
be between $300 and $1,500 depending on the complexity of
your situation. Our remuneration is then based upon an agreed
scale of annual retainer fees calculated on investments
under management. All client conferences, client meetings,
and performance reviews are included in our services and
are not subject to extra charges. |
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Are my investment
fees tax deductible?
Typically our plan preparation fee is considered capital
in nature and therefore is not tax deductible. The annual
retainer fee is deductible to the entity to which it is
charged. This is based on the assumption that the expenditure
(fee) was incurred in gaining or producing assessable income. |
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How often do
you meet with your clients?
We meet with our clients on an as required basis. This may
vary based upon the client's preference or a change in current
situation. Typically we meet with our local Canberra, Sydney
and Melbourne based clients on an average of twice a year.
We will communicate through all types of media. A majority
of our clients maintain an Internet connection, which assists
to speed communication between us. |
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Who serves
as the custodian for the assets that we manage?
We don't use custodian accounts for our clients' funds.
When an investment is purchased or an investment vehicle
established, all funds would be held in your name. |
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How do you
minimise the tax bills of your taxable clients?
For taxable clients we take a number of steps to maximise
after-tax returns. These steps include: |
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Ensuring investments
and other assets are structured in the most tax
effective manner. This may involve the use of trusts
or companies to reduce the overall tax liability. |
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Effectively using salary and
wage earnings, under the concept of remuneration
packaging alternatives. This is commonly referred
to as salary sacrificing. |
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The use of debt
for investment purposes can capture the returns
from more funds than could be initially used. Interest
repayments in certain cases are allowable tax deductions. |
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We consider whether
it makes sense to continue to hold equities or funds
that we might otherwise sell once they have built
up large capital gains. |
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Remembering that reducing
the tax that a client must pay cannot be the only
(or most significant) goal. Legislative risk must
be considered and strategies must remain flexible. |
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What insurance
does Harlocks carry?
We hold current and comprehensive Professional Indemnity
Insurance. A copy of the policy and Certificate of Currency
are available upon request. |
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Do I get detailed
information about actual commissions and any other benefits
that the firm or my adviser may obtain from making the recommendations?
Yes. You have the right to know about details of commissions
or any other benefits your adviser receives for recommending
investments. We will provide this information
to you when we make specific recommendations. |
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Will you give me advice that is
suitable to my investment needs and financial circumstances?
Yes. But to do so we need to find out your individual investment
objectives, financial situation and needs before we recommend
any investment to you. Harlocks specialises in providing
a comprehensive range of financial services and personalised
financial management advice and reporting, subject to your
requirements.
You have the
right not to divulge this information to us if you do
not wish to do so. However, we are required to warn you
about the possible consequences of us not having your
full personal information. |
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What should
I know about any risks of the investments or investment
strategies you recommend to me?
We will explain to you any significant risks of investments
and strategies that we recommend to you. If you are not
clear about any investment, you should ask us to explain
any details about which you require further information. |
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I need more
information?
If you have another question that has not been answered
here or elsewhere on our web site, feel free to email questions
or comments to us at:
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