Financial Services Guide
Further information about the financial services we provide
Financial Services and Credit Guide
PLANET WEALTH PTY LTD
Planet Wealth Pty Ltd (ABN 99 137 467 362, ACN 137 467 362) as trustees for Planet Insurance and Financial Planning Unit Trust (ABN 15 757 194 605), is an Authorised Representative (Authorised Representative number 338805) and Credit Representative (Credit Representative number 393803) of Akumin Financial Planning Pty Limited (”the Licensee”).
References to “our”, “we”, “us”, "me" and "I" refer to Planet Wealth Pty Ltd.
This Financial Services and Credit Guide (“Guide”) contains information that will help you decide whether to use the financial services we offer. It sets out:
- who we are and how to contact us
- the advice and services we provide
- information about the Licensee
- our fees and how we are paid in connection with those services
- how we manage your private information
- how you can complain about a matter relating to us
Date prepared: 02.12.2025 Version 4.0
Not Independent
Generally, we provide personal advice in line with the Licensee's Approved Product and Services List (APSL) which may include financial products and services associated with the Licensee. We may receive commissions from life insurance products we recommend and non-monetary benefits such as training and educational seminars from product providers. For these reasons, we are not considered independent, impartial, or unbiased.
Our contact details:
Address: 921 HIGH STREET ROAD, GLEN WAVERLEY VIC 3150
Phone: 1300 004 254
Email: info@planetwealth.com.au
Website: www.planetwealth.com.au
Documents you may receive in the financial planning process
We will provide you with several documents as you progress through your financial planning and advice journey. We may provide these documents electronically to your nominated email address, unless otherwise agreed.
Statement of Advice (SoA)
When we provide personal advice, it will normally be documented and provided to you in a Statement of Advice (SoA). The SoA contains a summary of your goals and the strategies and any financial products we may recommend to achieve your goals. It also provides you with detailed information about product costs and the fees and other benefits we and others will receive, as a result of our advice.
Product Disclosure Statement (PDS)
If we recommend or arrange a financial product for you, we will provide a Product Disclosure Statement (PDS), or Investor Directed Portfolio Services (IDPS) guide where relevant. These documents contain the key features of the recommended product, such as its benefits and risks, as well as the costs you will pay the product provider to manage that product.
Our advice and services
We are authorised to provide personal or general financial advice on:
- Centrelink and other government benefits
- Wealth Accumulation
- Personal insurance
- Superannuation strategies and retirement planning
- Retirement income streams, including pensions and annuities
- Budget and cash flow management
- Superannuation
- Securities
- Retirement savings accounts
- Managed investment schemes including Investor Directed Portfolio Services (IDPS)
- Deposit and payment products
- Life Products – Investment life insurance
- Life Products – Life risk insurance (including life cover, income protection cover, total and permanent disability cover, and trauma cover)
Your adviser may also be authorised to advise on other specialist areas. These are listed in their adviser profiles.
Transaction services
In limited circumstances, we can arrange financial product transactions for you on your instruction without providing personal advice.
Instructing us
You can give us instructions by telephone, mail, email, or other methods, as agreed with your adviser.
Providing information to us
It is important that we understand your circumstances and goals, so that we can provide you with appropriate advice and services. You have the right not to provide us with any personal information. Should you choose to withhold information, or if information you provide is incomplete or inaccurate, the advice or services we provide you may not be appropriate for you.
It is also important that you keep us up to date by informing us of any changes to your circumstances so we can determine if our advice is still appropriate.
Credit services
In addition to financial services, we are also authorised to assist you with advising and implementing loan products and consumer leases.
Credit documents you may receive
When we provide credit assistance, we will conduct a preliminary assessment to determine the suitability of a particular product. This is normally documented and provided to you in a Credit Proposal. We will retain this document and you may request it by contacting our office within seven years of the assessment. We will only provide recommendations to apply for a particular credit contract with a certain lender or increase the credit limit of a particular credit contract where the contract meets your needs and objectives and is not unsuitable to your circumstances.
Lenders and lessors
The Licensee has a broad panel of lenders and lessors for your Accredited Mortgage Consultant (AMC) to choose from. The full list of approved lenders is available on request but is not an exhaustive list of lenders who offer credit of the nature you may seek.
Akumin Financial Planning
As at March 2025, the lenders whose products are most commonly recommended by AMCs authorised by the Licensee are AFG Home Loans, NAB, Macquarie Bank, Westpac, St George Bank, ANZ
Benefits we may receive from lenders and lessors
Subject to compliance with relevant laws, including relating to conflicted remuneration, lenders may offer incentives that are paid directly to the AMC. These may include indirect benefits, for example business lunches, tickets to sporting or cultural events, corporate promotional merchandise and other minor benefits.
Credit reports and valuations
We may be provided access to free services such as credit reports and valuations from our lenders. Details of any relevant services we may receive because of a recommendation we make to you, will be included in the Credit Proposal we provide to you.
Tiered Servicing Arrangements
Through your AMC’s relationships with lenders, they may have access to tiered servicing arrangements. The benefits can include faster processing, better information or greater levels of assistance provided for obtaining loan approval. You will be advised of any tiered service arrangements that are in place with a particular lender that they have proposed at the time recommendations are made.
Access to these programs is not based solely on the volume of new or existing lending your AMC’s customers have with each respective lender and does not entitle them to any additional commissions outside of what they have disclosed to you, any additional payments or preferential customer discounts
Mortgage aggregators
Mortgage aggregators act as a gateway or interface between mortgage brokers and lenders by providing an IT platform through which brokers submit loan applications and deal with lenders. They also provide some ancillary services. We aggregate via AFG.
The aggregator may invite AMCs to conferences and professional development events to hear industry updates and educational presentations by the aggregator and lender sponsors. The aggregator may subsidise some attendance costs, subject to compliance with relevant laws.
The value will depend upon a range of factors, including the nature of the courses and events planned. Any benefits that we may receive that are related to a loan recommended to you which is regulated by the National Consumer Credit Protection Act 2009 (Cth), will be disclosed in our advice to you prior to application.
Privacy Collection Statement
We are committed to protecting your privacy and outline below how we maintain the privacy of the information we collect about you.
As part of the advice journey, we need to collect information about you. Where possible we will obtain that information directly from you, but if authorised by you we may also obtain it from other sources such as your employer or accountant. If that information is incomplete or inaccurate, this could affect our ability to analyse your needs, objectives and financial situation, so our recommendations may not be appropriate or suitable for you.
We are also required to implement client identification processes under the Anti-Money-Laundering and Counter-Terrorism Financing Act (AML/CTF) 2006. We will need you to present identification documents such as passports and driver’s licenses to meet our obligations.
We keep your personal information confidential and only use it in accordance with the Akumin Pty Limited (Akumin) Privacy Policy. Some of the ways we may use this information are set out below:
- We and the Licensee may use this information to provide financial and/or credit advice and services to you, including passing on your details to third parties such as product issuers;
- We may disclose your information to other financial advisers, brokers and those who are authorised by the Licensee to review clients’ needs and circumstances from time to time, including other companies within Akumin and Entireti;
- Your information may be disclosed to external service suppliers both here and overseas who supply administrative, financial or other services to assist us, Akumin and Entireti to provide financial and/or credit advice and services to you. A list of countries where these service providers are located can be found in the Privacy Policy;
- We may be disclosing your personal information to approved external service providers located in Sri Lanka for the purpose of Lending services.
- Your information may be used to provide ongoing information about opportunities that may be useful or relevant to your financial needs through direct marketing (you can opt-out at any time); and
- Your information may be disclosed as required or authorised by law and to anyone authorised by you.
Confidence in the quality of our advice
If at any time you are not satisfied with our services, the following will help you understand your options and find a resolution.
- Contact your adviser and tell them about your complaint.
- Alternatively, you can contact the Licensee at:
- Phone 1800 812 388
- Email complaints@akumin.com.au
- Online at www.akumin.com.au
Attention: Advice Complaints Department
Akumin Financial Planning Pty Limited
Level 6, 88 Phillip Street
Sydney NSW 2000 Australia
They will try to resolve your complaint quickly and fairly. They will provide you with a decision about your complaint within 30 days of us receiving it.
We note that in some circumstances, it may not be possible for us to completely resolve a complaint within this timeframe. If you do not agree with our decision in respect of your complaint, or are otherwise unsatisfied with our response, you may escalate your complaint to one of the following External Dispute Resolution Schemes.
| Any issues about financial advice, investments, superannuation, insurance matters, or credit matters | Australian Financial Complaints Authority (AFCA) GPO Box 3, Melbourne VIC 3001 1800 931 678 www.afca.org.au info@afca.org.au |
| Any issue about your personal information | The Office of the Australian Information Commissioner GPO Box 5218, Sydney NSW 2001 1300 363 992 www.oaic.gov.au enquiries@oaic.gov.au |
You may also contact the Australian Securities & Investments Commission (ASIC) on 1300 300 630 (free call info line) to make a complaint and obtain information about your rights.
Professional indemnity insurance
We maintain professional indemnity insurance to cover our advice and the recommendations provided by your adviser. The Licensee is also covered by professional indemnity insurance and this satisfies the requirements imposed by the Corporations Act 2001 and National Consumer Credit Protection Act. The insurance also covers claims arising from the actions of former employees or representatives of the Licensee, even where subsequent to these actions, they have ceased to be employed by or act for the Licensee.
About the Licensee
Akumin Financial Planning Pty Limited; ABN 89 051 208 327 Australian Financial Services Licensee and Australian Credit Licensee; Licence No: 232706
Registered office is at Level 6, 88 Phillip Street, Sydney NSW 2000 Australia.
The Licensee has:
- Approved the distribution of this Guide
- Authorised us to provide advice and other services as described in this Guide.
About Akumin Pty Limited & Entireti Limited
The Licensee is a wholly-owned subsidiary of Akumin Pty Limited.
Akumin Pty Limited is a subsidiary of Entireti Limited, a group that specialises in licensing and advice business services to financial planning practices and their clients.
AMP Limited holds a minority stake (currently 30%) in Akumin Pty Limited.
We can provide advice on products and services from a wide range of financial product and service providers, some of which are related or associated with the Licensee.
If we recommend a product issued by AMP Limited or a third party product issuer, they will benefit from our recommendation by receiving product, administration and investment fees, as well as fees paid by fund managers to distribute their product. These fees are all disclosed in the relevant PDS or IDPS guide.
Salita Portfolio Services Pty Ltd, a wholly owned subsidiary of Entireti Limited, provides portfolio construction and investment services to third party product issuers and receives fees for those services.
Entireti Lending Solutions Pty Ltd, a wholly owned subsidiary of Entireti Limited, provides credit services to their clients and receives remuneration, including commissions, fees and other benefits for those services.
The Licensee maintains an APSL, from a diversified selection of approved Australian and International fund providers, including companies related to the Licensee. These have been researched by external research houses as well as our in-house research team. The Licensee regularly reviews products and services to ensure they remain competitive with similar products that address similar client needs and objectives. Generally, we recommend products on the APSL. However, if appropriate for your needs, we may, subject to the Licensee’s approval, recommend other products.
Authorised Representatives and/or staff employed in our business may hold shares in AMP Limited, whose share price may be favourably affected by the sale of products issued by AMP Group companies.
Our fees
We will discuss and agree the actual fees with you before we proceed and where relevant the fees and commissions will be disclosed in the advice document provided to you. The following section outlines the types of fees that may apply.
The fees charged for our advice and services may be based on a combination of a set dollar amount, or a percentage-based fee. Our agreed advice and service fees may include charges for one off or regular fees. We may also receive initial or ongoing commissions from certain product providers.
Licensee fees
Unless stated otherwise, all permissible revenue, including any advice and service fees and commissions will be paid to the Licensee. It will then pass on the amounts due to us through its payment system. The Licensee charges us a Licensee Fee each year.
The Licensee Fee is determined as an annual amount based on a number of factors, including our business revenue, the number of advisers and/or accredited mortgage consultants in the practice and a practice fee.
Note that some asset finance providers may pay commissions directly to us rather than through the licensee.
Other costs
Other costs may apply in the process of providing our advice and services to you. We will agree all additional costs with you prior to incurring them.
The following table outlines the range of fee we charge and should be used as a guide only. We will discuss your individual needs and agree our fees with you.
The actual agreed fees will depend on factors such as the complexity of your circumstances and goals and the scope of the advice. All fees and charges include GST.
| Fee type & Description |
|---|
| Initial or ad hoc fees Plan Preparation Fee: Starting from $4,400 to $25,000. Essential Advice: Starting from $4,400 to $15,000. Comprehensive Advice: Starting from $6,600 to $25,000. Self-Managed Super Fund Advice: Starting from $6,600 to $25,000. Consultation Fee:$300 per hour |
| Ongoing service fee If we have entered into an ongoing fee arrangement for an ongoing review of your financial planning strategy, the fee can range from $1,800 to $25,000 depending on the level and complexity of service. Details of the services and fees will be set out within the agreement. |
| Annual advice and service fees You can elect to enter into a 12-month advice and services agreement as part of your financial planning strategy. The fee can range from $1,800 to $25,000 depending on the level and complexity of service Details of the services and fees will be set out within the agreement. |
Commissions Insurance:itial commissions: Ongoing commissions:Up to 66% of the first year’s premium for new policies implemented from 1 January 2020. We may receive commissions on increases or additions to existing policies of up to 130%. Up to 33% of the insurance premium each following year. For example: On insurance policies implemented from 1 January 2020, if your insurance premium was $1,000, we would receive an initial commission of up to $660. We would receive an ongoing commission of up to $330 pa. Residential loansInitial commissions: Up to 1.10% of the initial loan balance. Ongoing commissions:Up to 0.55% of the outstanding loan balance each year. For example:If your loan balance was $100,000, initial commission would be up to $1,100. The ongoing commission on a $100,000 loan balance would be up to $550. Residential loansInitial commissions: Up to 8% of the initial loan balance (capped at $4,000). Up to $1,990 where a flat brokerage fee applies. For example:If your loan balance was $50,000 and a percentage-based fee applies, commission would be up to $4,000. Deposit bondsInitial commissions: Up to 25% of the deposit bond fee. For example:If your deposit bond fee is $400, the commission would be up to $100. |
Other benefits we may receive
In addition to the payments explained above we may receive other monetary and non-monetary benefits, support services or recognition from the Licensee to help us grow our business. These are not additional costs to you. They could include training, badging rights, technology and technology support, marketing, financing, events or other recognition we are eligible for. We may receive benefits from product issuers that may include non-monetary benefits that are valued at less than $300. We may also participate in business lunches or receive corporate promotional merchandise tickets to sporting or cultural events and other similar items.
From time to time, Entireti Limited may facilitate access to the Licensee and us to be trained and educated by product issuers on their products.
Personal and professional development
The Licensee provides personal and professional development opportunities such as education and professional development programs, offered annually to qualifying practices.
Other business interests and relationships
Our Referral arrangements
We may receive payments to refer you to other service providers. These amounts do not involve additional costs and will be disclosed to you at the time of referral. Our current referral arrangements are detailed below:
| Provider | Services | Payment arrangement |
|---|---|---|
| Allianz Australia Insurance Limited | We may refer you to Allianz, who will assist you with your general insurance needs including:
| If we refer you to Allianz for general insurance, the Licensee will receive:
|
| AIA Health | Private Health Insurance Referral Service | AIA Health will pay a referral fee of 20% of the client's first year's premium (plus GST), of which 16% (plus GST) will be passed onto the Practice, and the remaining 4% (plus GST) will be retained by the licensee. |
| Entireti Lending Solutions | Credit services | If we refer you to Entireti Lending Solutions, we will receive 30% of both the upfront and trail commissions. E.g. if the upfront commission is $1,000, we receive $300. In year 2, if the trail commission is $1,000, we also receive $300. |
We may introduce you to Yodal Pty Ltd to assist with your estate planning. While we may support you by facilitating the process, any legal advice will be provided via Yodal’s legal panel and not by us. We will not receive a fee from Yodal to introduce you to them.
Financial and Credit Adviser Profiles
About Anwer Ali Mohammed
Anwer Ali Mohammed is an Authorised Representative (AR number 314782) and Credit Representative (CR number 390503) of the Licensee.
Contact details
Address: 921 HIGH STREET ROAD, GLEN WAVERLEY VIC 3150
Phone: 1300 004 254
Email: ali@planetwealth.com.au
Advice and services I can provide
I am authorised to provide the services listed in the Our advice and services section of this Guide.
In addition to the areas listed in that section, I can also advise on:
- Self-managed Super funds
I am also an Accredited Mortgage Consultant. I am authorised to provide mortgage and finance broking activities, including advising and assisting you to implement loan products and consumer leases.
How am I paid?
I receive the following from our practice:
- salary
- equity in the practice
Based on the above, the following contains my remuneration details:
- I am an employee and shareholder of Planet Wealth Pty Ltd. I receive a salary and share of commission from Planet Wealth Pty Ltd. Commission share varies from 0 - 100%.
About Shitij Mann
Shitij Mann is an Authorised Representative (AR number 329126) and Credit Representative (CR number 373391) of the Licensee.
Contact details
Address: 921 HIGH STREET ROAD, GLEN WAVERLEY VIC 3150
Phone: 1300 004 254
Email: shitij@planetwealth.com.au
Advice and services I can provide
I am authorised to provide the services listed in the Our advice and services section of this Guide.
In addition to the areas listed in that section, I can also advise on:
- Margin Lending facilities
- Self-managed Super funds
- Aged Care
- Derivatives (Limited to advising on and dealing in derivative-related products approved by the Licensee)
I am also an Accredited Mortgage Consultant. I am authorised to provide mortgage and finance broking activities, including advising and assisting you to implement loan products and consumer leases.
How am I paid?
I receive the following from Planet Wealth Pty Ltd:
- a percentage of the income I generate from the New Business that I write.