Your privacy is important to us. This statement outlines Advantage One’s policy on how we manage the personal information we hold about you, our customer. In this document ‘we’, ‘us’ and ‘our’ refer to the Advantage One Financial Services Pty Ltd, its authorised representatives, associated companies and staff. Advantage One Financial Services is associated with the following companies or entities:

-          Advantage One (SA) Pty Ltd which consists of Advantage One Financial Services and Advantage One Accounting & Business Advisory Services

It is our policy to respect the confidentiality of information and the privacy of individuals. Advantage One is bound by the National Privacy Principles contained in the Commonwealth Privacy Act.

Our Privacy Policy Statement will be reviewed from time to time to take into account new laws and technology, changes to our operations and practices and to make sure it remains appropriate to the changing environment. Any information we hold will be governed by the most current Privacy Policy Statement.

Advantage One’s Privacy Policy is Based on Openness

We are committed to being open about how we use personal information. Your personal information will be collected and held by the Staff at Advantage One and its related body corporate, the Staff at Matrix Planning Solutions Limited (Matrix), an Australian Financial Services & Credit Licensee through which we are authorised to provide financial advice to you.

Why Does Advantage One Collect Personal Information?

Our business is to understand and meet our customers’ needs over their lifetime for a wide range of financial and other services. To do this effectively, we need to collect certain personal information.  In most cases, your personal information will be collected when you meet with your adviser, provide your information via telephone or electronic and written material. In some instances, your information may also need to be collected from third parties such as your accountant, mortgage broker or solicitor.

We provide many financial products and services under the Matrix. They include (but are not limited to): 

• Life insurance products protecting against risks
• Investment products to build wealth
• Superannuation and retirement income products to provide for retirement
• Financial planning advice, lending service or advice and other services to help individuals understand their financial needs and make financial and investment decisions
• assistance with your finance, taxation and business needs through the referral to Advantage One Accounting & Business Advisory Service

 What Kind of Personal Information Do We Ask For?

Because of the nature of the products and services provided, government regulations and taxation laws, we ask for a range of personal information from our customers.

The type of personal information we may collect can include (but is not limited to) name, address, date of birth, contact details, income, assets and liabilities, account balances, tax and financial statements, social

security details, insurance, employment details and any other information we consider necessary. This may also include sensitive information about you. For more details, see the section ‘Sensitive information is subject to greater restrictions’.

We obtain most of the information directly from our customers through applications or other forms, and from maintaining records of information provided in the course of ongoing financial planning advice or customer service.

If you choose not to provide the information, we may not be able to provide you with the requested product or service.

How Do We Use This Information and Who May We Disclose It To?

While we may send you marketing material from time to time we think will be useful to you, we are conscious of the need to respect your privacy.

Unless you are informed otherwise, the personal information we hold is used for establishing and managing your financial products or services, lending products or services, reviewing your ongoing needs, enhancing customer service and product options and giving you ongoing information or opportunities that we believe may be relevant to your financial needs and circumstances.

We use the personal information we collect about our clients to fulfil our legal obligations.

Depending on the product or service concerned and particular restrictions on sensitive information, this means that personal information may be disclosed to: 

• Other areas within our Licensee, the Matrix group who provide financial and other services
• Financial planners, brokers and those who are authorised by Matrix to review customers’ needs and circumstances from time to time
• Services providers and specialist advisers to Matrix who have been contracted to provide Matrix with administrative, financial, insurance, accounting, legal, information technology, research or other services
• Other insurers, credit providers, courts, tribunals and regulatory authorities as agreed or authorised by law
• Credit reporting or reference agencies or insurance investigators
• Advantage One Accounting and Advisory Services
• Organisations in connection with the sale or proposed sale of all or part of the Matrix and/or adviser’s business and to the use of that personal information by those organisations for those purposes
• Austrac the government agency who oversees Anti Money Laundering and Counter Terrorism. Before we arrange products or services we are required to validate client identity. We will request and copy some personal documents only for that purpose. Also we are required to provide details of certain transactions and entities where we hold reasonable suspicion of suspect nature.

Generally, we require that organisations outside Matrix who handle or obtain personal information as service providers to Matrix acknowledge the confidentiality of this information, undertake to respect any individual’s right to privacy and comply with the National Privacy Principles and this policy.

Sensitive Information is Subject to Greater Restrictions

Some personal information we hold is ‘sensitive’. Sensitive information relates to a person’s racial or ethnic origin, membership of political bodies, religions or trade unions, sexual preferences or activities, criminal record, state of health and medical history.

The way we use tax file numbers and information received from a credit reporting agency about an individual is also restricted by law.

Sensitive information is usually needed for applications for personal insurance and to manage claims on those products. It may also be relevant to credit and other applications. It is our policy that sensitive information will be used and disclosed only for the purposes for which it was provided, unless the customer agrees otherwise or the use or disclosure of this information is allowed by law. Documents asking for sensitive information will explain this.

Management of Personal Information

Advantage One trains its employees, financial advisers and their staff who handle personal information to respect the confidentiality of customer information and the privacy of individuals. We regard breaches of your privacy very seriously and will impose appropriate penalties, including dismissal.

Our Licensee Matrix has appointed a Privacy Officer to ensure that the management of your personal information is in accordance with this statement and the Privacy Act.

How Do We Store Personal Information?

Safeguarding the privacy of you information is important to us, whether you interact with us personally, by phone, mail, over the internet, or other electronic medium. We hold personal information in a combination of secure computer storage facilities and paper-based files, and take steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure.

We may need to maintain records for a significant period of time. However, when we consider information is no longer needed, we will remove any details that will identify you or we will securely destroy the records.

How Do We Keep Personal Information Accurate And Up-To-Date?

Advantage One endeavours to ensure that the personal information it holds is accurate and up-to-date. We realise that this information changes frequently with changes of address and other personal circumstances. We can generally update your customer information over the telephone.

You Have The Right To Check What Personal Information About You Is Held By Us

Under the Commonwealth Privacy Act, you have the right to obtain a copy of any personal information which Advantage One and Matrix hold about you and to advise us of any perceived inaccuracy. The Act does set out some exceptions to this.

To make a request, you will need to submit your request in writing, verifying your identity and specifying what information you require.

We will acknowledge your request within 14 days and respond promptly to it. We may charge a fee to cover the cost of verifying the application and locating, retrieving, reviewing and copying any material requested. If the information sought is extensive, we will advise the likely cost in advance and can help to refine your request if required.

What If You Have A Complaint?

If you consider that any action of Matrix and/or Advantage One breach this Privacy Policy Statement or the National Privacy Principles or otherwise do not respect your privacy, you can make a complaint. This will be acted upon promptly.

To make a complaint, please forward it in writing to:

The Privacy Officer

Matrix Planning Solutions Limited

Level 3, 31 Market Street

SYDNEY NSW 2000

If you are not satisfied with our response to your complaint, you can phone the Privacy Enquiries Line at the Australian Information Commissioner’s office on 1300 363 992.