Financial Services Guide (FSG)
Date of issue: 11 December 2023

Absence of Independence

We are unable to call ourselves independent. The law prevents most advisers from using independent, unbiased, or impartial words. If, for example, an adviser gets paid a commission to help a client arrange insurance or work within a functional restriction such as an Approved Product List, they are prohibited from calling themselves independent. Most advisers who receive insurance commissions charge their clients little (if anything) for the advice and service. Advisers within The Licensee receive these commissions. So, although we always put your interests before ours when giving advice, we cannot (by law) call ourselves independent, unbiased, or impartial.

Millennium3 advisers offer professional financial advice strategies to prepare for life’s financial ups and downs and help achieve future security.

About Millenium3
Millennium3 is one of Australia’s largest financial planning groups, with origins dating back over 30 years. It has an extensive network of qualified financial advisers across Australia, with head offices in Sydney, Melbourne, and Perth.  Each Millennium3 practice is locally owned, employing highly qualified financial advisers with a legal obligation and an ethical duty to act with integrity and in the best interests of their clients. Your adviser is either a self-employed practice owner or employed by the practice as an adviser.

About this Guide
This FSG is issued by Millennium 3 Financial Services Pty Ltd (AFSL 244252 ABN 61 094 529 987). “The Licensee” is a wholly owned subsidiary of WT Financial Group Limited (ACN 169 037 058).  This Financial Services Guide (FSG) explains the financial services provided by Millennium3 and your adviser (who is authorised through Millennium3). It is designed to help you make a fully informed decision about using our services.

Please take the time to read this guide carefully. Sound financial advice is based on open communication. Understanding our services and fees is the cornerstone of this communication. It’s also vital that you know who authorises your adviser, the nature of their associations and relationships, and what to do if you have a complaint. If you have further questions or if there is anything that isn’t clear, please talk to your adviser or contact us.

This guide includes an Adviser Profile outlining your adviser’s skills, qualifications, and the services they are authorised to provide.

Products and services we provide

Our network of advisers provides a range of financial services, including investing, superannuation, retirement and insurance. Specific information about the services your adviser is authorised to provide and their qualifications are contained in the following Adviser Profile.

Important documents you can expect to receive

When your adviser provides personal financial advice for the first time, you will generally be given a Statement of Advice (SoA). The SoA sets out your personal advice, the basis on which it is given, the cost of the advice, and information about any associations or relationships that could influence the advice.

If you require further advice at a later time, provided your circumstances have not changed significantly since your previous SoA, your adviser may be able to give further advice verbally or via a shorter Record of Advice (RoA). If you are given verbal advice, your adviser will document the discussion, and a copy of this record can be made available to you upon request. If you are given further advice and your circumstances have changed significantly since your previous SoA, you will generally be given another SoA. 

To help you make an informed decision about a financial product, you will generally be given a Product Disclosure Statement (PDS), which outlines the product features and costs in detail.  In certain circumstances, providing a PDS (including, for example, where you already have one) is not required.  If you ask your adviser to undertake a transaction without receiving advice from that adviser, you may be given a letter confirming your instructions and disclosing any costs you pay in relation to that transaction.

Important Relationships & Other Benefits

You should be aware of the following relationships and benefits that we may receive.  Any payments noted below are not an additional cost to you and will only be made to the extent permitted by law. Any other arrangements you need to be aware of will be set out in the Adviser Profile attached to this document.  Arrangements that are relevant to the advice being provided to you will also be disclosed in your written advice.

Product & Service Provider Benefits

Millennium3 may receive sponsorship payments from product and service providers to fund technical and professional development training for our advisers.  Our practice owners or advisers may also apply for and may qualify to receive commercial terms on a range of banking products and services such as interest rates and limited recourse terms.

Distribution Fees
Related companies of Millennium3 may receive fees for acting as the distributor of financial products which your adviser may recommend.  Any fee is paid by the product issuer or administrator of the product out of its own funds.  Neither your adviser nor Millennium3 receive any of these fees.

Advisory Fees
Product providers may pay advisory fees to Millennium3 or an investment management entity associated with Millennium3.  This fee is for the provision of portfolio management advisory services where Millennium3
model portfolios are utilised via managed accounts or separately managed accounts. If this occurs, the fee is calculated as a percentage, likely up to 0.15% of the managed or separately managed account portfolio balance. Your adviser will not receive any of this fee.

Referral Partners
Your adviser may have referral relationships with third parties. These third parties may include accountants, mortgage brokers, general insurance brokers, solicitors, real estate agents and other third parties who specialise in a specific field. Any referral arrangements you need to be aware of and specific details of any referral payments we may receive will be set out in the ‘Important relationships’ section of the Adviser Profile attached to this document. 

Referral arrangements that are relevant to any advice being provided to you will also be disclosed in your written advice. Where you are referred to a third party (including to other financial advisers) by your adviser, neither your adviser nor Millennium3 approve or endorse their advice and won’t be liable for the provision of advice and services provided by the third party.  You must assess the merits of their advice in the light of your own circumstances and objectives.

Referrals to a third-party
Where you are referred to a third party (including to other financial advisers) by your adviser, your adviser does not receive any payment for that referral. We also do not approve or endorse their advice. You must assess the merits of their advice in the light of your own circumstances and objectives.  

Associated businesses
Your adviser may have associations with other related businesses, such as an accountancy firm.

Other Payments
We keep a full register of any benefits advisers receive from $100 to $300. By law, your adviser cannot receive benefits above $300 per year from a product issuer.  In addition, Millennium3 keeps a register of any other non-monetary benefits your adviser may receive related to education, training, technology support, or software relevant to providing financial advice. If you would like a copy of either register, please ask your adviser; one will be made available.

How we are paid

At prosperity Wealth Management , we receive remuneration from three main areas:

• Advice & Service Fees - Paid by you (Commonly called Fees for Service)
• Commissions from insurance providers - (only if insurance advice is provided) and 
• Other payments and benefits - As outlined above under the heading ‘Important relationships and other benefits'

As the licensee, Millennium3 collects all fees and commissions paid to your adviser’s practice. The Adviser Profile explains how your adviser is paid.  Millennium3 receives a licensee fee from your adviser’s practice of up to $165,000 per annum, which is partly based on remuneration paid to your adviser’s practice.

The types of fees you may be asked to pay can include:

• (SoA) Fee – a fee to gather information, analyse your situation and prepare your SoA.
• (AIF) Implementation Fee - to implement the recommendations contained in your SoA.
• (ASF) Adviser Service Fee - for providing ongoing services (under a Fixed Term Service Agreement)

Your adviser may also charge a one-off Ad hoc fee for the Ad Hoc provision of advice or services, including if you instruct your adviser to complete a transaction on your behalf, such as buying or selling specific financial products.

If you have a Complaint

If you have a complaint about financial services provided to you, your complaint can be directed to your adviser in the first instance. You can also raise your complaint at any time by contacting us at:

Via Email: complaints@wtfglimited.com
In writing to WT Financial Group Advice, Dispute Resolution Team, Level 5, 95 Pitt St, Sydney, NSW 2000, Phone: 02 9248 0422

We will investigate and endeavour to resolve your complaint promptly and fairly.

If your initial complaint has not been resolved to your satisfaction within 30 days, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).   AFCA is an external dispute resolution scheme that provides fair and independent financial services complaint resolution that is free to consumers.

AFCA’s contact details are:

Via Email: info@afca.org.au
Via their Website: www.afca.org.au
In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
Phone: 1800 931 678

The Australian Securities and Investment Commission (ASIC) has an information line, 1300 300 630, which you may use to obtain information about your rights and to make a complaint. For more information, please visit their website.

Part 2 - Adviser Profile 

Adviser profile issue date: 29 March 2024

This adviser profile is an essential part of this Financial Service Guide (FSG), which is incomplete without it.

Leslie Hayward 

Leslie Hayward is an Authorised Representative of Millennium3 Financial Services Pty Ltd AFSL 244252 and is the Director & Principal Adviser at Prosperity Wealth Management Pty Ltd, which is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd, with an Authorised Representative Number of  338139, and Corporate Authorised Representative Number of 338140.

About Les
Les has extensive experience gained over 35 years working in a wide range of industries. Les has been
involved in the financial services industry for 25 years,  working in senior management positions across Finance,  Mortgages, & Financial Planning, in roles such as State Manager, RAMS Home Loans & State Manager Elders Financial Planning. His driving motivation as an adviser is to help, guide, advise & assist his clients to successfully navigate the complex world of wealth creation and protection (Insurance) to help them manage & maximise their wealth, maximise income in retirement & assist in the transfer of assets to the next generation through sound Estate Planning.

Les’s passion for all things financial, his dedication to his clients, 35 years of business & finance experience  & qualifications provide the platform from which Les uses his unique mix of experience and knowledge to provide
the insightful and essential knowledge required to help clients achieve their goals.

Qualifications & Memberships

• Bachelor of Arts (Politics),
• Graduate Certificate in Business Administration,
• Diploma Financial Services (Finance/Mortgage Broking Management),
• Diploma of Financial Services (Financial Planning),
• Diploma of Security & Risk Management and 
• Member of the Financial Advice Association Australia (FAAA)

Authorised Financial Products & Services:

I am authorised to provide you with general and personal financial advice on the following classes and types of products:

• Life Insurance products
• Superannuation
• Deposit Products
• Pensions & Annuities
• Retirement Savings Accounts
• Managed Investment Funds
• Investment Bonds
• A range of approved ASX-listed investments managed under a model portfolio

How I am paid
As the licensee, Millennium3 collects all advice fees and commissions. Millennium3 then pays the fees and
commissions to my Practice as detailed in the FSG under the heading ‘How we are paid’. My Practice pays me out of these fees and commissions based on several factors, such as:

Client Fee & Payment Options

Before providing advice, we will agree on the fees and payment options with you. The fee will depend on the complexity of your circumstances and the services you require. Your options to pay for our services can include a Fee for Service, Commission (if purchasing insurance products), or a combination of both.

Fee for Service

Fee for service is based on the services and types of Advice we provide. This fee can be charged either as:
•  An hourly rate.
•  A fixed dollar amount.
•  A percentage of funds invested (excluding borrowed funds).
•  A combination of these methods.

We can invoice you directly for our fee for service.  Alternatively, some products allow an adviser service fee to
be deducted from the balance of your investment. 

In addition to the arrangements already disclosed in the FSG under ’Important relationships and other payments’, Prosperity Wealth Management also has the following arrangements:

Referrals from a third party

Currently, we do not have any referral arrangements to pay a third-party referrer a referral fee, commission, or other benefit. If this changes, we will inform you before providing further advice.

Referrals to a third-party

We have referral arrangements with third-party providers. We may receive a payment, fee, commission, or other benefit if we refer you to one of these providers.  The table below details these arrangements, and our advice documents will provide specific details of any referral payments we may receive.  Alternatively, you can request further information about our referral arrangements before we provide you with financial advice.

Please Note: Millennium3 Financial Services Pty Ltd or Les Hayward are not responsible for the advice and services provided by these providers.

Privacy Notification
Your personal information will be handled in accordance with our privacy policy, which is located here. We will generally collect personal information directly from you. We may collect personal information about you from a third party if we believe you have authorised that third party to provide the information to us.

The main reason we collect, use, and/or disclose your personal information is to provide you with the services you request. In addition, as a financial service provider, we are obligated to verify your identity and the source of any funds.

We provide financial services under Millennium3 Financial Services Pty Ltd's Australian Financial Services License.  Millennium3 Financial Services Pty Ltd monitors our compliance with the law and provides us a range of support services, including the financial planning software we use. Consequently, Millennium3 Financial Services Pty Ltd has access to your personal information and may use that information to facilitate the provision of financial services to you and to ensure we comply with our obligations.  We may also disclose your information to external parties such as accountants, banks, insurers, and other product providers.

To keep our costs competitive, our Practice uses specialist business support resources located in the following country/countries: Vietnam, Malaysia & India.  The organisation/s we have contracted to support our business has confirmed that they will adhere to the Australian Privacy Principles when dealing with your personal information. They will not contact you or share your information with any other party unless they have your express approval.

Please refer to our Privacy Policy for more information about how we will handle your personal information, including how to access or correct it and how to make a privacy-related complaint.