Conflicts of interest and incentives

On settlement of a loan or issuance of an insurance policy, we (One Financial Service) usually receive commission from the applicable product provider. The commission is generally of an upfront nature but may also include a renewal or trail commission.

This commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running our business.

We take steps to ensure that the receipt of commissions does not influence the advice we give to you and that our advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of commission we may receive.

We do this by:

• Ensuring our advisers follow an advice process that ensures they understand your needs and goals and that their recommendations meets those needs and goals.
  

• Ensuring our advisers receive regular training on how to manage conflicts of interest.
  

• Providing you with a schedule showing commission amounts and types by product provider which is contained within each Financial Adviser's personalised Disclosure Guide.
  

• Our Insurance Adviser is a salaried adviser and does not receive any additional commission based on any new business issuance.
  

If there are any conflicts of interest apart from commission that could potentially influence the advice that we give, these will be shown in your Financial Adviser's Disclosure Guide.

How One Financial Service manages any conflicts of interest:

• We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
  

• We undertake an annual independent Compliance Assurance Review by Strategi.