Financial Services Guide

Provided by

Parc Wealth Management Pty Ltd ACN 615 859 277 trading as Parc Wealth Management ABN 29 847 516 024 Authorised Representative No. 1250859 (Parc Wealth Management).

– Pinchas Lebovits Authorised Representative No. 1250860 (P.C. Lebovits)
– Ashley Davidson Authorised Representative No. 342680
– Michelle Bryant Authorised Representative No. 1300825
– Kerri Davey Authorised Representative No. 278010
– Chi Leong Lay Authorised Representative No. 1311842 (Andy Lay)

(together we, us, our)

As authorised representatives of Parc Wealth Group Pty Ltd ABN 24 652 326 915 AFSL No. 535090 (Licensee).

Last updated 10/03/2025

The distribution of this financial services guide (FSG) is authorised by the Licensee.

Purpose of this document

The purpose of this FSG is to assist you in deciding whether to use our services by giving you information about the type of services we provide, how we are remunerated and your rights when you have a complaint about the services we provide to you.

We recommend that you read and understand this FSG before you engage us to provide you with any financial services. If you have any questions, please get in touch with us.

Not Independent

Because:

– we receive commissions on the sale of life risk insurance products that are not rebated in full to clients; and

– we offer our own Separately Managed Account (SMA) products alongside other financial products. We may recommend these SMAs to clients, but only if they are a suitable investment option based on the client’s individual circumstances and investment objectives.

we are not able to refer to ourselves or our advice as ‘independent’, ‘impartial’ or ‘unbiased’.

Additional documents you may receive from us

When we provide you with financial planning services you may receive:

– a Statement of Advice (SoA) or Record of Advice (RoA). These documents set out the advice we provide to you. If you have not been provided with the ROA, you may request a copy of it free of charge at any time within 7 years after the advice was provided to you, by contacting us;

– a Product Disclosure Statement (PDS) which provides details about the significant risks and benefits, costs, charges and other significant characteristics or features of the products we have recommended.

If you enter into an ongoing service agreement with us, you will receive annual ongoing service renewals and consents for the deduction of advice fees from your account each year.

Financial services we are authorised to provide

Parc Wealth Management is authorised to provide personal advice and dealing services to retail and wholesale clients for the following financial products:

– Deposit and Payment Products – Non-basic Deposit Products

– Government Debentures, Stocks or Bonds

– Life Products (Investment Life Insurance and Life Risk Insurance Products)

– Managed Investment Schemes, including IDPS and MDA Services

– Retirement Savings Account Products

– Securities

– Superannuation

Parc Wealth Management is a corporate authorised representative of the Licensee. Any financial services will be provided by Parc Wealth Management and its sub-authorised representatives, who are listed in the Adviser Profile section. More details about them, including the financial services they are authorised to provide, is included in the Adviser Profile section.

How can you provide us with instructions?

You can give us instructions by phone, email or any other means that we agree with you from time to time. Please refer to our engagement letter for more information on this.

Who does the Licensee act for?

As authorised representatives, we provide financial services on behalf of the Licensee. In providing those financial services, the Licensee acts on its own behalf.

Fees

All fees are payable to Parc Wealth Management. P.C. Lebovits is one of the owners of Parc Wealth Management and shares in the profits that are made.

General advice

We may charge you a fee for any general advice we provide to you. That fee may be either a fixed fee or based on the amount of hours it takes us to prepare and provide you with the general advice. The amount of these fees usually ranges from $350-$400 per hour incl GST. However, may exceed this range in complex cases. Details of the fee will be agreed with you beforehand. You may request information about these fees within a reasonable time after receiving this FSG but before you are provided with any general advice.

Personal advice (incl GST)

We will charge you a fee for any personal advice we provide to you. That fee may be either a fixed fee or based on the amount of hours it takes us to prepare and provide you with personal advice. The amount of these fees usually ranges from:

$3,950 to $9,950 for Advice Production

$1,150 to $5,450 for Advice Implementation

These amounts may exceed these ranges in complex cases. These fees will be agreed with you beforehand and will be disclosed in a SoA or RoA which will be provided to you.

Ongoing fees (incl GST)

Our ongoing fees depend on the ongoing service that we provide to you. They are typically charged as an agreed fixed price of between $5,950 and $17,950 annually and are paid monthly. The amount of ongoing fees will depend on your total assets under management and other factors such as the complexity of your portfolio, the regularity of reviews and any additional services we are providing.

Any ongoing fees will be agreed with you in our service agreement.

Brokerage Fees

We may charge a brokerage fee of between 0.5% and 1%, (Incl GST) when you buy or sell listed investments. This fee will typically be applied to each transaction as a set percentage of the investment amount.

The services and fees will be set out in the SoA or RoA that we provide to you.

Managed fund transaction fees

We may charge a transaction fee of up to 1% (Incl GST) when you buy or sell interests in managed funds. This fee will typically be applied to each transaction as a set percentage of the investment amount. The services and fees will be set out in the SoA or RoA that we provide to you.

Insurance commissions

We receive a one-off upfront commission when you take out an insurance policy we recommend. The upfront commission will be capped at 66% of the first year’s annual premium.

We also receive an ongoing commission payment capped at 22% of the annual premium for as long as you continue to hold the policy.

For example, for an insurance product with an annual premium of $2,000, where the issuer pays us an upfront commission of 60% net, we will receive $1,200. The issuer will pay us 20% net of the annual premium as ongoing commission for as long as you hold the product. Assuming an annual premium of $2,000, this equates to $400 per year.

You will be advised of the exact amount of these commissions in the SoA or RoA.

Other Benefits

We may also receive additional benefits by way of sponsorship of educations seminars, conferences or training days. Details of any benefits received above $100 will be maintained on a register which is available to you on request.

Adviser remuneration

P.C Lebovits, Michelle Bryant, Kerri Davey and Andy Lay are paid a base salary and do not receive commissions from product issuers. Ashley Davidson is remunerated via client fees and commissions received from product issuers.

Referrals

Parc Finance & Lending Pty Ltd (Parc Finance & Lending) is our trusted partner for mortgage broking and financing needs. We may provide you with a referral to Parc Finance & Lending should you require mortgage broking or financing services.

Parc Insurance Brokers Pty Ltd (Parc Insurance Brokers) is our trusted partner for General Insurance needs. We may provide you with a referral to Parc Insurance Brokers should you require General Insurance services.

We have a referral agreement in place with the Ladies Finance Club. Referrals received that lead to a client relationship may result in a fee of $550 being paid to the Ladies Finance Club.

There may be occasions when we receive Stamping Fees from Institutions Placement Brokers. All referral benefits and Stamping Fees received will be disclosed to you at the time of making the referral or issuing Advice.

Associations

We are required to disclose any associations or relationships between us, our related entities and product issuers that could reasonably be capable of influencing the financial services we provide to you.

We have relationships or associations with the following entities to disclose:

– Green and Sternfeld Pty Ltd

– Parc Finance & Lending

– Parc Insurance Brokers

Conflicts of Interest

While no referral fees are received when we refer you to Parc Finance & Lending or Parc Insurance Brokers, the owners, or entities associated with the owners of the Licensee and Parc Wealth Management also own Parc Finance & Lending and Parc Insurance Brokers. This means that where you engage the services of Parc Finance & Lending or Parc Insurance Brokers, the owners, or associated entities of the owners will derive a benefit from the commissions or fees received by Parc Finance & Lending or Parc Insurance Brokers.

Ashley Davidson provides financial services on behalf of the Licensee and Parc Wealth Management and also provides Mortgage Broking and Financing services on behalf of Parc Finance & Lending.

Our representatives may recommend investments in shares that they hold or may hold in the future. You will be advised where a conflict of interest may exist and how the conflict will be managed.

Making a Complaint

We endeavour to provide you with the best advice and service at all times.

If you are not satisfied with our services then we encourage you to contact the Licensee. We accept complaints over the phone, in person, via email or letter or on our social media channels. The best option is to call the Licensee or put your complaint in writing to the Licensee’s office. The Licensee will endeavour to resolve your complaint in 5 business days.

If you still do not receive a satisfactory outcome or the Licensee does not respond to you within 30 days after you make the initial complaint, you have the right to complain to the Australian Financial Complaints Authority (AFCA) at the following address:

GPO Box 3
Melbourne VIC 3001
Ph: 1800 931 678
Fax: 03 9613 6399
Website: www.afca.org.au
Email: info@afca.org.au

You may only contact AFCA once you have followed the above procedure.

Our Complaints Handling Procedure is available on request and at our website at www.parcwealth.com.au.

Your Privacy

We are committed to protecting your privacy.

We have a Privacy Policy which sets out how we collect, hold, use and disclose your personal information. It also sets out how you can access the information we hold about you, how to have it corrected and how to complain where you are not satisfied with how we have handled your personal information.

Our Privacy Policy is available on request and on our website at www.parcwealth.com.au.

Compensation arrangements

The Licensee holds professional indemnity insurance in respect of the financial services we provide. This professional indemnity insurance complies with the requirements of the Corporations Act. The professional indemnity insurance covers all of the financial services we are authorised to provide to you.

Contact us

If you have any queries about our financial services, please do not hesitate to contact us:

Parc Wealth Group
Suite 1B 1250 Malvern Road
Malvern, VIC 3144
+61 3 9527 1600
admin@parcwealth.com.au

Parc Wealth Management
Suite 1B, 1250 Malvern Road
Malvern, VIC 3144
+61 3 9527 1600
admin@parcwealth.com.au

Adviser Profiles

Please view our Adviser Profile pages below.