The Australian Securities and Investments Commission (ASIC) requires persons who hold proper authorities from licensed dealers to have demonstrated certain specified levels of competency in the field of investment advice. ASIC and the Financial Services Reform Act 2001 have set the standards for the giving of personal and general advice. The Act defines advice as follows:
- Personal advice
- includes a proper analysis of client's needs and advice on the appropriateness of particular investments as part of the analysis.
- General advice
- is advice, which is not personal.
Banksia does not provide personal financial advice as defined by the Act. Banksia employees are able to assist you with all the factual information about an investment in a Banksia product and we encourage you to seek independent financial advice from your own advisor.
If you wish to speak with an authorised company representative please contact your local Banksia branch or freecall the Administration centre on 1800 333 114.