Collection and use of personal information
Disclosure of personal information
Accessing and correcting your personal information
Website and technology
Contacting us and complaints
Changes to this policy
Third party links and materials
Copyright and Intellectual Property Notices
Contacting us and complaints
Changes to this policy
Fees and costs
FINANCIAL SERVICES GUIDE
Use of the website
Last updated: August 12, 2020
Use of this website and the accompanying mobile application (collectively,site) is provided by Pearler Investments Pty Ltd ACN 625 120 649 (Pearler) (collectively, we, us, or our) and is subject to the following terms and conditions and any other directions or rules for use of the site which may apply from time to time (collectively, terms).
The financial services provided through this website are provided to you by Pearler (Authorised Representative No. 1281540), an Authorised Representative of Sanlam Private Wealth Pty Ltd (AFS Licence No. 337927).
Please read these terms carefully. If you have any questions, please contact us so we can clarify and update any areas of ambiguity. When you access the site (other than to read these terms for the first time), you are taken to have agreed to these terms and be bound by them
1. Important Information
You use the site at your own risk. To the maximum extent permitted by law, no member of Pearler or any of their directors, employees, agents, related bodies, third party content providers or licensors makes any express or implied representation or warranty about, or will be liable, in contract, tort (including negligence) or otherwise, for any direct, indirect, special or consequential loss, damages or reliance in connection with, the site, its use, its content or any products or services (including our products or services) referred to on the site. This includes (but is not restricted to) loss or damage you might suffer as a result of any of the following:
- any reliance on the completeness, accuracy, suitability or currency of the site or its content
- any failure or delay of performance or in operation or transmission, computer virus or other harmful component, loss of data, communication line failure, unlawful third party conduct, or theft, destruction, alteration or unauthorised access to data
- accessing any sites or servers maintained by other organisations through links on the site
- defamatory, threatening, offensive or unlawful conduct of third parties, or
We may suspend or remove access to the site at any time. We are not liable, for any reason, if the site is unavailable or any functionality of the site is restricted or impaired.
The site has been prepared for general promotional purposes only and is not a recommendation to buy, or an offer or solicitation to sell, any financial product.
The site is intended to provide general information and must not be construed as general or specific investment or professional advice. No direct or implicit recommendations are given in the information on the site.
The site has been prepared without taking into account the personal objectives, financial situation or needs of any particular person.
We recommend you obtain financial advice specific to your situation before making an investment decision.
Exclusion of implied warranties
To the maximum extent permitted by law, we exclude all warranties that otherwise would be implied in any transactions for the supply by us of information, products or services offered on the site (including warranties of satisfactory quality, merchantability and fitness for purpose).
Limitation of our liability (if any) to you
To the maximum extent permitted by law, our total liability to you (if any) for loss, damage or reliance will be limited, at our election, to:
- in the case of information or services supplied or offered by us for a fee – the re-supply of the information or services or payment of the cost of doing this. To the maximum extent permitted by law, we accept no, and exclude all, liability for information or services supplied or offered by us for free, or
- in the case of goods supplied or offered by us for a fee – repair or replacement of the goods, supply of equivalent goods, or payment of the cost of doing this. To the maximum extent permitted by law, we accept no, and exclude all, liability for goods supplied or offered by us for free.
You agree to provide true, accurate, current and complete information about yourself and your accounts maintained by integration partners and you agree to not misrepresent your identity or your account information held with integration partners.
You agree that we may collect and use technical data and related information, including but not limited to technical information about:
- your smartphone and other hardware devices, and your systems and other application software, to facilitate the provision of software and other updates to the site.
Pearler provides users the ability to set rules to pull monies from their designated bank account at set intervals for a set number of occasions (Direct Debit Instructions).
By setting these rules you are confirming to Pearler that you agree to the Macquarie Bank Direct Debit terms. Upon confirmation by you, Pearler presents a copy of the Direct Debit Instructions to Macquarie Bank.
Pearler will endeavour to present Macquarie Bank the Direct Debit Instructions on the set interval or the next business day (the Transaction). Pearler reserves the right to present the Direct Debit Instructions and complete the Transaction up to three business days after calendar day instructed.
You can cancel Direct Debit Instructions at any time (Direct Debit Cancellation). Pearler will endeavour to present to Macquarie Bank the Direct Debit Cancellation prior the next interval. Pearler requires at least 2 business days notice to present to Macquarie Bank in order to cancel the next Transaction.
By providing Direct Debit Instructions you are acknowledging that despite Pearler’s best endeavours to present a Direct Debit Cancellation to Macquarie Bank that the Transaction may still occur. Should this occur you will be able to request that the Transaction be dishonoured via your designated bank account or, if the funds are cleared in your Pearler account, make a withdrawal request via the Pearler website. You agree that Pearler is not liable for any cost charged by your designated bank or by any other party as a result of a Transaction that occurs after a Direct Debit Instruction.
Pearler provides users the ability to set rules to buy dollar amounts of securities or managed funds at set intervals for a set number of occasions (Autoinvest Instructions).
By making an Autoinvest Instruction you are agreeing to deposit sufficient funds in accordance with the instructions via the Auto Deposit process and also make Direct Debit Instructions as a component part of your Autoinvest Instructions.
By setting these instructions you are confirming to Pearler that you agree for Pearler to provide instructions to OpenMarkets in accordance with their terms. Upon confirmation by you, Pearler will instruct OpenMarkets to purchase at market an amount of securities or units that is equal to or less than the dollar amount provided in your Autoinvest Instructions inclusive of brokerage costs and subject to your available balance at each interval.
Pearler will endeavour to present to OpenMarkets the Autoinvest Instructions on the calendar days or the next business day provided in your Autoinvest Instructions (the Autoinvest Transaction). Pearler reserves the right to instruct OpenMarkets to make the Autoinvest Transaction up to three business days after calendar day instructed.
Pearler endeavours to provide Autoinvest Transaction instructions at set times during a market day for the purposes of avoiding times that have historically been shown to present higher volatility, for example at market open or in the last 30 minutes of market trade. Pearler reserves the right to provide instructions to OpenMarkets at any time.
You can cancel Autoinvest Instructions at any time (Autoinvest Cancellation). Pearler requires at least 2 business days notice to cancel the next Autoinvest Transaction.
By providing Autoinvest Instructions you are acknowledging that despite Pearler’s best endeavours to cancel the next Autoinvest Transaction that it may still occur. You agree that Pearler is not liable for any cost or loss incurred by you as a result of an Autoinvest Transaction that occurs after an Autoinvest Cancelation request is made.
6. Third party links and materials
The site contains links to other sites. You agree that:
- those links are provided for convenience only and may not remain current or be maintained
- we are not responsible for the content or privacy practices associated with linked sites and have no control over those linked sites
- those links are not an endorsement, approval or recommendation by us of the owners or operators of linked sites, or of any information, graphics, materials, products or services referred to or contained on linked sites, and
- you indemnify us against any loss or damage we suffer which results from your use of linked sites in a way which breaches the terms and conditions which govern their use.
You acknowledge that any third party materials appearing on the site (including blog posts or articles provided by others) are not necessarily controlled or monitored by us and that the views expressed are not necessarily ours.
7. Copyright and Intellectual Property Notices
Copyright and trade mark notices
Unless expressed to the contrary all copyright, trade marks and other intellectual property rights contained in the site and the materials appearing on it are owned or licensed by us and may not be reproduced, stored, adapted, uploaded to a third party system or used without our prior written. No trade mark of ours (whether registered or otherwise) may be used without our prior, specific, written permission.
The site may also contain trademarks of our affiliates or integration partners (including advertisers, sponsors and customers). The use or misuse of these trademarks, except as expressly authorised, is prohibited. The use by us of a trade mark on the site is not intended to indicate any association with, or endorsement by, the owner of that trade mark.
We own or control, and reserve, all rights
Unless otherwise indicated, all rights (including copyright) in the content and compilation of the web pages and on-line images (including text, graphics, logos, button icons, video images, audio clips and software) comprising the site are owned or controlled, and are reserved, by us.
8. User Conduct
In relation to content contained in the site, whether generated by pearler or a user on the site, you acknowledge that:
- pearler is not authorised to, and does not, provide personal financial product advice (within the meaning of the Corporations Act).
- All information provided on the site, whether factual, or in the presentation of third party (user) profiles or opinions, or through presentation of rankings or grouping of financial products, does not involve any recommendation or statement of opinion by pearler or any third party. Such information does not take into account your objectives, financial situation or needs and you should consider obtaining professional financial advice before making any investment decisions.
Lawful and authorised use only
You must only use the site for lawful purposes and for the purposes explicitly outlined and authorised in the site (including in these terms). If any part of the site requires you to provide a username and password to access or use any part of the site, you must keep that username and password confidential and not provide them to anyone other than us. You must immediately let us know if you believe that your password is known to someone else or if it may be used in an unauthorised way.
You are authorised to:
- download and view content
- register your interest in receiving further information from us in relation to products or services we may offer to you (or invite offers from you) in the future, and
- use the software included in the site for your own personal, non-commercial use, provided that you keep intact all copyright and other proprietary notices. You must not exploit any of our site materials for commercial purposes without our prior written permission.
You are not otherwise authorised to copy, broadcast, reproduce, republish, store (in any any medium), transmit, broadcast, distribute, sell, lease, licence, show or play in public, adapt or change in any way the content of, or create a derivative work from, the site for any other purpose unless we have provided prior written consent and you have also received the permission of any other relevant rights owner. You must not copy, decompile, reverse engineer, disassemble, attempt to derive the source code of the site.
This prohibition does not extend to materials on the site which are expressed to be freely available for re-use or replication, subject to any conditions we specify.
Any contributions made by you to the site must:
- be accurate (where they state facts)
- be genuinely held (where they state opinions)
- not be misleading or deceptive, and
- comply with applicable law in any country from which they are made.
You must not use or contribute to the site, or any tools or applications offered through the site, in a manner that:
- violates or infringes the rights of others (including their intellectual property, privacy and publicity rights)
- is unlawful, fraudulent (or has any unlawful or fraudulent effect), threatening, discriminatory, sexually explicit, abusive, defamatory, invasive of privacy, vulgar, obscene, profane or which may harass or cause distress or inconvenience to, or incite hatred of, any person
- encourages conduct that would constitute a criminal offence, give rise to civil liability or otherwise violate any law
- impersonates any person or mispresents your identity or affiliation with any person (including us)
- transmits or procures the sending of any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation (including spam)
- restricts or inhibits any other user from using or enjoying the site
- affects the functionality or operation of the site or its servers or the functionality or operation of any users’ computer systems (for example, by transmitting a computer virus or other harmful component, whether or not knowingly), or
- breaches any standards, content requirements or codes of any relevant authority, including authorities which require us to take remedial action under any applicable industry code.
We have the right to disable any user identification code or username or terminate or restrict your access to the site if in our opinion you have failed to comply with any of these terms and conditions. We also reserve the right to remove and delete any content you put on the site.
Co-operation with authorities
We reserve the right to co-operate fully with any law enforcement authority in any jurisdiction in respect of a lawful direction or request to disclose the identity or other information about anyone posting materials which the authority claims violates any applicable law.
Your responsibilities under laws affecting you
You are responsible for ensuring that your use of the site is lawful, does not infringe any third party’s rights and does not breach any standards, content requirements or codes promulgated by any relevant authority (including relevant internet industry codes of practice).
9. Contacting us and complaints
If you have any feedback, questions or concerns about how we handle your personal information or this policy, please contact our Privacy Officer at:
Privacy Officer firstname.lastname@example.org Level 1 MCIC, UNSW, Gate 2 Avenue, Kensington 2033
We care about your privacy and take your privacy concerns seriously. We will usually ask that you put your request to us in writing. Where you express concerns that we have interfered with your privacy we will respond to let you know who will be handling your matter and provide a response within 30 days.
If you are not satisfied with our response, you can lodge a lodge a complaint with the Office of the Australian Information Commissioner (OAIC) online at oaic.gov.au oaic.gov.au or by writing to GPO Box 5218, Sydney NSW 2001. For more information visit the OAIC’s website or contact them by telephone: 1300 363 992 or email: email@example.com.
As we operate in the financial services industry, you can contact the Compliance Manager at Sanlam Private Wealth Pty Ltd on (03) 8640 5508 or at firstname.lastname@example.org.
If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with, you can also lodge a complaint with the Australian Financial Complaints Authority (AFCA) online at afca.org.au or by writing to GPO Box 3, Melbourne VIC 3001 quoting our Member Number 41620. For more information visit the AFCA website or contact them by telephone:1800 931 678 or email: email@example.com.
10. Changes to this policy
We reserve the right to withdraw or amend, update or change the functionality or content of the site at any time without notice.
We may change these terms at any time, without notice. An up-to-date version of these terms will be available on our website. You are responsible for keeping up to date of any changes by regularly reviewing these terms. If you access the site after any changes are posted, you agree to all changes (including those which you are then unaware have been posted).
Accounts can be opened by individuals over the age of 18.
We reserve the right not to open accounts for residents outside of Australia.
You will adhere to the account opening process, and if applicable confirm that we did not solicit, induce or market our services to you.
To open an Account, you must:
- Complete an Application form;
- Agree to be bound by these Terms and Conditions and the Terms and Conditions of our integration partners;
- Provide us whatever information we reasonably request
- Successfully open accounts with our integration partners (as required).
We may, in our absolute discretion, decline your application for an Account.
Before you can provide us with an Instruction, you must fund your Account. Pearler retains the discretion to allow purchase of Securities or Managed Funds traded on a regulated Exchange prior to any funding.
You allow Pearler to place a hold on any funds deposited for a period of up to ten (10) days prior to making it available for withdrawal. We will provide you with advanced details of the hold period based on your funding method.
You allow pearler to place a hold on funds deposited via Direct Debit (or any other funding method) until the funds have cleared at Pearler which could take up to four (3) business days. After this time, the funds may be withdrawn by the customer if their funds have cleared.
You authorise Pearler, if required, to facilitate the transfer of all funds deposited into your Account to the client trust account of Pearler’s broker-dealer (OpenMarkets).
You will be notified once the funds have cleared in the client trust account and are available to invest.
You confirm that the intention of using these funds is not for any improper or illegal activity.
You may withdraw funds from the client trust account (subject to any hold period) at any time through instruction on the Pearler website and/or our mobile app.
When you issue a withdrawal instruction, you authorise Pearler to facilitate the transfer of your funds from the client trust account to your local bank account.
Once you have opened an Account, you may Instruct us to buy or sell Securities or Managed Funds traded on a regulated Exchange on your behalf. We will then arrange to execute your Instructions.
- must be given to us through the Website and/or our mobile app;
- are subject to the Rules and this Agreement;
- You authorise us to act on any Instructions we genuinely believe are given by you in accordance with this Agreement;
We are entitled to assume that any Instructions given via the Website or Mobile Application using your account details are from you. You are bound by any such Instructions.
As part of executing your Instructions, you will be charged brokerage by the integration partner at the rates agreed to in the agreement with the integration partner, and any other applicable Fees and Charges in each case as specified on the Website and/or our mobile app.
The current per trade fees for ASX listed securities are:
- Minimum Commission: $9.50 per trade
- Maximum Commission: 0.055% of trade value
These Fees and Charges may change from time to time and may differ depending on whether a fractional or whole interest in a Security is being purchased.
You authorise Pearler and Sanlam Private Wealth Pty Ltd to receive a portion of the brokerage paid by you to the integration partner as disclosed in the Fee Schedule.
You acknowledge that the price at which the Instructions are executed may be different from the price the Security is trading at the time you give your Instructions;
We do not guarantee that your Instructions will be executed:
- in full or in part;
- by a certain time; or
- at a particular price.
We are not a Registered Tax Agent.
We recommend that you obtain professional financial, legal and taxation advice before entering into any financial investment decision.
As part of the Pearler service, we will not provide you with Personal Financial Product Advice. If we provide you with General Financial Product Advice, that advice has been prepared without considering your personal information and does not take into account your specific needs or objectives;
You are responsible for any investment or trading decisions made by you with respect to your Account and we will not be responsible for determining the suitability, appropriateness or advisability of your Instructions, any Transaction or Currency Conversion;
We do not guarantee the performance of any Securities or Managed Funds traded on a regulated Exchange;
You must only provide us with Instructions and enter into Transactions for your own benefit and you will not use your Account on behalf of third parties (unless agreed with us);
13. Fees and costs
When you provide us with Instructions, you acknowledge that:
You are able to pay for any Securities or Managed Funds traded on a regulated Exchange purchased, and any liabilities that arise.
We will only permit trading in Securities or Managed Funds traded on a regulated Exchange where you have sufficient funds available for trade.
You will pay all associated duties or taxes before the settlement time and date specified.
We will use our reasonable endeavours to arrange for the execution of your Instructions. You will receive Confirmation upon execution.
We will not be responsible for any losses you may incur as a result of any delay or error in the transmission or execution of your Instructions, and you acknowledge that international time differences and timing of public holidays or other similar observances may lead to delays in receipt of Instructions and execution by us and our integration partners.
Instructions to buy or sell Securities or Managed Funds traded on a regulated Exchange may only be valid for terms that we determine from time to time and within the maximum terms allowed on the relevant Exchange.
If you request variation to or cancellation of a Transaction recorded by us, the Transaction will not be varied or cancelled until we notify you that your request has been accepted.
You will be liable to pay the applicable market fees for your trades.
You are responsible for any liability for contracts arising from your Instructions.
You will indemnify us against all loss, expense or any other liability in relation to the execution of your Instructions, except to the extent resulting from or caused by our negligence, fraud or dishonesty.
You acknowledge that if you initiate a chargeback against a card funding initiated by you or fail to clear funds deposited via Direct Debit or any funding source that we have the right to suspend your account, place a hold on your assets and instruct OpenMarkets to execute trades on your behalf to recoup any losses incurred by Pearler Investments Pty Ltd.
You acknowledge that the website is only accessible on desktop devices and that the Mobile App will allow you access to the Pearler service on Mobile Devices.
You will be liable for losses caused by unauthorised Transactions where we can prove that you contributed to losses on the balance of probability:
- Through allowing or not taking reasonable steps to avoid fraud or breach of the security requirements, or;
- From unauthorised Transactions because you unreasonably delayed notifying us after realising that the security of your Account had been breached in a way that Pearler could not have reasonably become aware through it’s own security processes.
If you are liable for losses under this clause, you will be liable for the actual losses that occur between the time you realised, or should reasonably have become aware that your Account’s security had been breached and when you actually let us know.
You acknowledge that Pearler has the right to claim any reasonable expenses and cost (legal or otherwise) in relation to resolving any claim against you or us (by you), whether resolved or not. In relation to this clause, you acknowledge that if a judgement is made against you in relation to such costs and expenses, you will be liable for those costs and expenses incurred by us.
The Pearler service gives you the ability to instruct us to arrange to execute transactions on your behalf. To use the Pearler service you will need to have access to the internet. You are responsible for maintaining any electronic equipment or software needed to give you access to the Pearler service or the Website or our mobile application.
We do not promise continuous, non- interrupted or fault free delivery of the Website and/or Mobile APP or the Pearler Service.
Access to the Website and/or Mobile App and the Pearler service may be unavailable or interrupted from time to time due to:
- technical or service delivery reasons; or
- to conduct reasonable maintenance; or
- regulatory or risk management reasons; or
- any other reason.
In addition, your access to the Website and/or Mobile App may be restricted or suspended as set out in these terms.
The site (excluding any linked third party sites) is controlled by us from Australia.
Any disputes must be determined by the courts having jurisdiction in NSW, Australia in accordance with laws in force in NSW. You irrevocably and unconditionally submit to this jurisdiction.
If any of these terms are found by a court to be invalid or unenforceable, the invalidity or unenforceability will not affect the remaining terms.
No offers where illegality arises
Nothing on the site constitutes an offer to provide goods or services in any jurisdiction if to do so would contravene the laws of that jurisdiction.
Site or content may be unlawful outside Australia
We do not warrant that the content of the site complies with the laws of any other country. If you access the site from outside of Australia, you do so at your own risk and you accept responsibility for ensuring or confirming compliance with all laws that apply to you because of that access or any consequent transactions or dealings with us.
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