Why Choose Banksia?

Banksia Partners has established a set of ‘Guiding Principles’ as the standard of business conduct required of all representatives and employees. Continue reading

Our Fiduciary & Guiding Principles

Our Guiding Principles mandate honest and ethical conduct at all times.

In addition to our Guiding Principles, each representative who is a member of the Financial Planning Association of Australia (FPA) and who are Certified Financial Planners (CFP) are required to adhere to the FPA‘s Code of Ethics and Rules of Professional Conduct.

Our Guiding Principles

Banksia Partners, its representatives and its employees shall:

  1. Recognise our fiduciary obligation to each client, meaning that we act in our client’s best interest at all times and maintain the highest standards of honesty and integrity.
  2. Avoid situations where personal interests could conflict or appear to conflict with their fiduciary responsibilities to clients. Where a conflict of interest does exist, it shall be disclosed to clients. Representatives and employees should avoid any investment, interest, association or other relationship that interferes, might interfere, or might be thought to interfere, with the independent exercise of good judgment.
  3. Undertake continuing professional development and ongoing education to ensure they maintain the necessary levels of knowledge, technical skill and expertise in order to advise clients appropriately.
  4. Conduct themselves in a professional manner at all times and not bring Banksia Partners into disrepute.
  5. Not recommend a financial service or product that replaces an existing equally suitable or similar financial service or product. Where a recommendation to replace one financial service or product with another is made, the basis for the recommendation will be fully disclosed in accordance with the Corporations Law and Australian Securities and Investment Commission (ASIC) guidance.
  6. Disclose all forms of remuneration to each client in the course of the provision of its services, including fees, commissions and other pecuniary or non-pecuniary benefits, together with payments to any referral source or any costs born by the client that should reasonably be disclosed.
  7. Act within the limitations of Banksia Partners Australian Financial Services License (AFSL) and will advise the client of any limitations in their ability to provide objective advice. Where a breach under the terms of Banksia Partners AFSL occurs, the representative or employee will advise Banksia’s Compliance Officer of the breach and the Compliance Officer shall note the breach, any remedial action proposed or taken, and communicate such proposals or actions to the client.
  8. Respect the confidentiality of client information and observe the Banksia Partners’ Privacy Policy at all times. Representatives and employees shall not misuse client information. Access to client information shall be provided on a need-to-know basis. With client permission, information may be shared with accountants, lawyers, fund managers, agents, custodians, life insurers, etc, to support client objectives.