SuperFund	$Annual Fee	%Annual Fee	My Super % Fee	MER Fee	Exit Fee	Min To Keep Account Opened	Min To Keep Insurance
Netwealth	$175	0.54%	Nil	0.20%	Nil	Nil	$0

Zenith Representatives Pty Ltd
Trading As Real Wealth Queensland
ABN: 64 606 833 434
AFSL #479263
S36 L4, 194 Varsity Parade
Varsity Lakes QLD 4227
1300 725 889

Statement of Advice

My aim is to ensure that you are provided with quality advice tailored to your specific requirements. This SoA contains information about the advice and clearly articulates the recommended financial planning strategies and product recommendations including relevant information and disclosures. Previously you were given General Advice only. This advice did not take your goals or circumstances into consideration. We have reviewed your file, goals needs and objectives and are providing personal advice about your superannuation and insurance.

Prepared for:
Date Prepared:
Prepared by:
Authorised Representative Number:	#

Authorised Representative of Zenith Representatives AFSL#479263

Important information about you

The Review has only reviewed your current superannuation and insurance. Through our discussions and using your words, we have identified your needs and goals as:

I understand this to mean:

Your Personal Information

Occupation:
Date of Birth:
Marital Status:
Financial Dependents:

Your Superfund(s) prior to consolidation:

After implementing the general advice, you currently have a superfund held with Net Wealth.

Scope of advice

This advice is provided in the following areas only: Superannuation Rollovers, consolidation and the investing of the superannuation monies and insurance.

Given the reduced scope of our advice, you should be aware we have not reviewed and assessed your whole situation in making our recommendations and there may be other matters which need to be addressed. Therefore, before acting on the advice, we recommend you consider its appropriateness to your overall personal circumstances, including your objectives, financial situation and needs.

If you feel that you would like advice in any other areas, please contact us and we will be happy to assist. Alternatively, we can provide a referral to one of our many partners who specialise in other areas

Your investor profile

Based on the answers to your risk profile questions, you are considered to be a investor.

Our advice to you

After reviewing your current superfunds and holdings, I recommend that after your new insurance policies are in force, to rollover all other existing superfunds unto Net Wealth.

Product Replacement

Product/Underwriter
To be replaced with:	NetWealth
Costs of Replacement:	Exit fee of
Reasons for Replacement	To achieve your retirement goals and objectives and based on the reasons above, we have recommended the rollovers.
Differences in Benefits - GAINS:	View underlying investments Access to underlying investments View underlying investments performance Investments tailored to your current circumstances. Ongoing advice and portfolio monitoring Portfolio re-balancing You will gain access to more investment options
Differences in Benefits - LOSSES	Death And TPD - Benefit of Guaranteed Future Insurability is lost. Salary Continuance - The ability to retain cover for Income Protection without evidence of health by transferring benefit to another division of provider will be lost. Fees may be higher.
Alternative Strategy	We investigated leaving your existing funds in place and consolidating your funds in your previous superfunds, however these strategies would not meet the goals we discussed. We also reviewed other alternatives to Netwealth, however they were more expensive without extra features.

For a detailed comparison of your superannuation please refer to the detailed comparison Here.

Investments

Based on your risk profile, needs and objectives we recommend that you invest in the following Exchange Traded Funds.

Outcomes and Advantages

Netwealth offers one or more of the following relevant features and benefits which are not available in your current fund: Access to a range of investments such as ETFs and Managed funds, better transparency to see your balance, returns and the individual investments. Netwealth also allows us to tailor your investments specifically to your risk profile.

Netwealth allows you to see individual costs as they are taken from the account. Other providers build their costs into the balance of your account making it difficult to determine the effective total costs.

Exchange Traded Funds allow access to a wide range of both local and international exchanges. Exchange Traded Funds have lower fees than typical managed funds. Using Exchange Traded Funds will help you achieve your objective of increasing your current return.

Risks and Disadvantages

This recommendation may require trade-offs as all strategies contain both advantages and disadvantages. The important potential risks and disadvantages that may arise from this recommendation include:

Rolling over superannuation from one superannuation fund to another may incur management expenses and costs, including a taxation liability arising from the sale of the underlying investments represented in your superannuation account. You current superfund(s) may also charge you an exit fee

When rolling over your existing superannuation you will generally lose entitlement to existing insurance coverage in that fund. Replacement insurance through your new superannuation fund may be more costly or even unobtainable, depending on the level of cover required, your age, and current state of health. Existing insurance arrangements should not be cancelled until such time as replacement insurance has been confirmed.

Where investments held in your current superannuation fund are sold prior to rolling over your benefit to another superannuation fund, a rising investment market may result in less investments being purchased within your replacement superannuation fund.

If you have made superannuation contributions to your current superannuation fund, and intend to claim a personal tax deduction for all or part of those contributions, it is imperative that you provide your current superannuation fund with a “notice of intention to claim a tax deduction” (as required under section 290-170 of the Income Tax Assessment Act 1997) and that the notice be acknowledged before you roll your current superannuation over to the proposed fund. Failure to lodge this notice will result in the loss of a tax deduction.

All forms of investing involve risk. These investments are the same. There is no guarantee of a return, nor that the Exchange Traded Funds will meet your return objective.

A partial rollover has been recommended to maintain your insurance as your current insurance has not been reviewed. This means at this time your superannuation will not be completely consolidated into one fund.

Why my Advice is Appropriate

The above advice is to help you achieve your superannuation goals and outcomes.

Consolidating your superannuation into 1 fund will achieve your goal of having 1 superfund. It also reduces annual fees but also allows for better tracking of your superfund.

Managed Funds also generally have higher fees than Exchange Traded Funds which erode your returns. Your superannuation is also a long term investment. As such, we have recommended Exchange Traded Funds which track or mirror the exchanges. Exchange Traded Funds are used to allow access to a range of exchanges both locally and internationally. This provides significant diversification advantages, high access to your funds (no waiting periods to withdraw) and have very low overall management fees. We believe that these investments will help you achieve your goal of increasing your superfund performance.

A key requirement was ease of access and transparency. Netwealth provides 24/7 access both online and via a phone app to your superfund. This gives you direct access to view not only your superfund balance, but also the investments and the individual returns for these investments.

Netwealth has a broad range of investments which allows your superfund to be highly tailored to your current circumstances. It also allows for changes and updates should your circumstances change or based on market conditions.

I embrace the concept of Best Interests Duty and give priority to your interests ahead of my own. My commitment is to act in the best interests of you my client and to act honestly, professionally, fairly and objectively in the provision of financial services. The processes I follow demonstrate the priority I give to your interests ahead of my own. This document also forms part of the process of meeting my obligations under the Best Interests Duty. So that I can provide you with appropriate advice it is important that the information your provide is correct and current. Please continue to update me if and when your needs change, so that I can ensure your advice is still current.

Our recomendations

Insurance Company	Type Of Insurance	Lump Sum Amount	Monthly Benefit	Annual Premium	Premium Type	Policy Owner
	Life	$		$0.00		NetWealth Super
	TPD	$		$0.00		NetWealth Super
	Income Protection		$	$0.00		NetWealth Super

All optional benefits are detailed in the quotes as well as the PDS.

Your requested cover

Insurance Company	Type Of Insurance	Lump Sum Amount	Monthly Benefit	Annual Premium	Premium Type	Policy Owner
	Life	$		$0.00		NetWealth Super
	TPD	$		$0.00		NetWealth Super
	Income Protection		$	$0.00		NetWealth Super

We have quoted and recommended insurance cover amounts based on your answers to our Fact Find questions. However after discussing these quotes with you, you have requested a different amount as shown above under Your Requested Cover. Should this cover be less than our recommended cover, you may be under insured and therefore your needs and objectives may not be met.

Your current insurance policies held within your superfunds will be replaced with:

New Insurance Provider
Current Insurance
Costs of replacement	Current insurance costs are: $0.00p.a. New insurance costs are $0.00p.a.
Reasons for replacement	More comprehensive cover. Tailored insurance amounts to meet your current needs.
Benefits Gained	• Covers all accidental injuries • To age 65 benefits go up to policy anniversary after 65 • Death Benefit - no need to be on claim at the time of death • Fully underwritten at the time of application • Cover renewed irrespective of changes in pastimes
Benefits Lost	Death And TPD - Benefit of Guaranteed Future Insurability is lost. Fees are higher.

Warning

Quotes are provided with this SoA and reflect standard insurance rates. There are no guarantees that you will be underwritten at standard insurance rates. Insurance benefits payable from superannuation (in other words, policies owned by a superannuation trustee) must meet a condition of release before the benefit can be paid to the beneficiary. When lump sum benefits of insurance policies are paid via superannuation to non-financial dependents, tax may be payable which will reduce the actual benefits paid. The sum insured should be considered for grossing up (inflated to cover the tax payable). Please be aware that an Indemnity Income Protection policy means the Insurer will request proof of income and pay 75% of this income only.

Alternative strategies considered

We considered leaving your existing super funds in place without any changes or rollovers however this does not fulfill your objective of having 1 superfund. The insurance inside your current super is also inferior to the insurance recommended. We considered not increasing your cover, but this would leave you underinsured.

Why is our advice appropriate for you?

Access to retail insurance policies rather than group policies to provide appropriate and relevant cover for your occupation and personal circumstances. Insurance to protect your financial situation and lifestyle, should anything happen to you that will cause you to lose your income, either in the short or long-term. Having appropriate insurance cover will provide you and your dependents protection and peace of mind in the event that your income ceases due to death, sickness or injury. Policies owned by your superannuation fund means that your premiums can be paid for from your superannuation balance, which will reduce the impact on your personal cash flow.

How this advice is in your best interest

This advice is in your best interest because:

Your Superfund is paying for your insurance which satisfies your objective of no out of pocket expenses.
Insurance has been underwritten and is tailored to your current lifestyle needs and choices.

Risks in our advice

Policies that are paid for from your superfund are therefore owned by your superfund. In the event of an insurance claim, the payment will be paid to the superfund. You will therefore need to meet a condition of release before you can access these funds.

If you have altered the amount of cover, you may not have adequate cover in the event of a claim.

Does our advice have any disadvantages?

You may pay additional premiums compared to your current cover, whether through increased levels of cover that are appropriate to your circumstances, or through better policies.

There may be tax implications involved with any insurance claim in the future. In the event of this arising, you should seek professional taxation advice from a registered tax agent.

TPD definition is any occupation in super compared to own occupation definition if owned personally. This affects when or if you would be able to make a claim.

You need to be aware that these premiums may erode your capital and have an effect on your overall retirement benefit.

Consequences of replacing one financial product with another

You have a minimum period for payment of a benefit if loss of life is caused by suicide.

If you have altered (for the worse) health conditions since implementation of your existing insurance policies, you may incur premium loadings, exclusions or possibly be rejected for the recommended cover. Your duty of disclosure period will re-commence meaning that the Insurance Company reserves the right to not pay claims if you do not disclose information relevant to the underwriting of the policy for a period of 3 years from acceptance.

Fees are higher than your current superfund insurance.

What comissions will we get paid?

will pay us a comission of 110% of the upfront premium being $$0.00 and an ongoing comission of 10% each year the policy is in place.

What are our fees

Entity Charged	Super Balance	Initial %	Initial $	Annual %	Annual $
Superfund	$	0%	None	2.20%	$
Total	$	0%	None	2.20%	$

Advice fees are paid from your super fund.

You will have to pay other product fees for the underlying investments recommended. Make sure you read the PDS and ask us any questions you may have.

Remuneration allocation

Zenith Representatives charge a flat annual fee for licensing services provided, and consequently, pay 100% of the total fees and commissions to Real Wealth Queensland