Terms and Conditions
Terms and Conditions - April 2020
Please read the following Terms and Conditions relating to use of the www.yourshare.com.au website and the services We offer through the website.
Contract
Access to and use of www.yourshare.com.au (YourShare Website) and the services available through the YourShare Website are subject to the following Terms and Conditions. These Terms and Conditions create a legal and binding contract between You and Us. Your continued use of the YourShare Website constitutes an affirmative acknowledgement and agreement by You that You accept and agree to abide by and be bound by these Terms and Conditions and any subsequent modifications.
Parties
‘Our’, ‘Us’ and ‘We’ refers to YourShare Financial Services Pty Ltd, ABN 32 122 332 503. The words ‘You’ and ‘Your’ refer to users of the YourShare Website. The material on the YourShare Website is published by Us and is intended for use in Australia. The YourShare Website is not intended for use outside Australia. We make no claim that the information contained on the YourShare Website is appropriate or may be downloaded legally outside Australia. If You access the YourShare Website from outside Australia, You do so at Your own risk and You are responsible for compliance with the laws in Your respective jurisdiction.
Privacy
Your privacy and security is important to Us. Refer to our Privacy Policy for information about how We handle personal information We hold about You.
Access to the YourShare Website
The YourShare Website is a business and commercial portal. It is, therefore, not intended for persons under the age of 18. You warrant by Your continued use of the YourShare Website that You are aged 18 or older.
Warranty
While reasonable steps have been undertaken to ensure that the information, materials and services contained on the YourShare Website are free from error, to the extent permitted by law, which law cannot be excluded, We do not warrant the accuracy, adequacy or completeness of content. Information on the YourShare Website may change without notice to You, unless We are required by law to provide You with notice of any changes. All terms implied by law, except those that by law cannot be excluded, are excluded.
Use
Use of the YourShare Website is limited to using the functions and applications that We make available from time to time in accordance with these Terms and Conditions or any additional Terms and Conditions applicable to specific applications.
You agree that in using the YourShare Website You will not, either directly, or indirectly through another party, use any robot, spider, screen scraper, data aggregation tool or other device or process to process, monitor, copy or extract any web pages on the YourShare Website, or any of the information, content or data contained within or accessible through the YourShare Website, without Our prior written permission. Further You agree not to use any process to aggregate or combine information, content or data contained within or accessible through the YourShare Website with information, content or data accessible via or sourced from any third party. In addition You agree not to use any information on or accessed through the YourShare Website for any commercial purpose or otherwise (either directly or indirectly) for profit or gain. You also agree not to reverse engineer, reverse assemble, decompile, or otherwise attempt to discover source code or other arithmetical formula or processes in respect of the software underlying the infrastructure and processes associated with the YourShare Website, or copy, reproduce, alter, modify, create derivative works, or publicly display, any part of any content from the YourShare Website without Our prior written permission.
Content
We are not responsible, and do not accept liability, for any content available on the YourShare Website provided to Us by third party content providers, fund managers or financial services, credit, or other providers.
You release Us from any liability, in contract, tort (including negligence), equity or under statute, for any damages, including, without limitation, direct or indirect, special, incidental, compensatory, exemplary or consequential damages, losses or expenses, including without limitation lost or misdirected orders, lost profits, lost goodwill, or lost or stolen programs or other data, arising out of or in connection with, any content on the YourShare Website provided to Us by third party content providers, fund managers or financial services, credit, or other providers.
Your continued use of the YourShare Website constitutes an acknowledgement and agreement by You that You accept and agree to abide by and be bound by these Terms and Conditions and any subsequent modifications.
General Warning
You acknowledge and agree that the YourShare Website provides a ‘no advice’ service. We do not make any recommendations or endorsements of financial or credit products or their suitability for You. All information contained on the YourShare Website is factual information or general advice only and does not take into account Your objectives, financial circumstances or needs. If You are not comfortable with making Your own financial decisions You should contact a licensed financial or finance/mortgage adviser. You should always read the Product Disclosure Document (PDS) of any financial product before investing in that financial product.
YourShare accepts no responsibility for the information contained in any PDS. The product issuer, and not YourShare, is responsible for the content of the disclosure documents. YourShare does not endorse or guarantee the performance of any financial products or make an offer or recommendation with respect to any financial product.
Commission Rebate
The rebating of commissions is subject to You being entitled as set out in the section headed ‘Entitled to Commission Rebates’.
YourShare can vary the amount of commission rebates, or the manner of calculation and payment of them, by an amendment to these Terms and Conditions, notice of which will be published on the YourShare Website homepage.
YourShare will rebate a portion of all trailing commissions We receive in respect of the financial and credit products You hold and which are registered on the YourShare Website. A dealer fee of 10% is retained by InvestSMART Advice Pty Limited (the holder of the Australian Financial Services Licence No 334107 under which YourShare is an Authorised Representative) prior to commissions being received by YourShare.
Members of YourShare will have trailing commissions rebated as outlined in Table 1.
| Table 1. $75 50/50 ModelTotal value of Trail commissions received per member, per annum | % rebated to member as Yearly Cash-Back |
|---|---|
| First $ 75 | 0% |
| Balance over $ 75 | 50% |
We do not rebate any initial commission or entry fee which is paid to Us by the provider, or the agent of the provider, of your financial or credit products and received by Us.
Entitlement to Commission Rebates on eligible products
If you have an eligible product, on each anniversary date of Your membership, You will then be entitled to a rebate of the commissions the subject of these Terms and Conditions that we have received by that anniversary from Our authorising licensee. If these Terms and Conditions are terminated for any reason (e.g. you switch brokers or leave our service), then on and from the date of termination We will no longer be liable to rebate to You any commissions the subject of these Terms and Conditions.
The amount of Your rebate will be calculated as at each anniversary date of Your membership in accordance with the Terms and Conditions effective at that date. We will pay You Your rebate within 30 days after Your anniversary date by direct credit to your bank account.
We will not be obliged to pay Your rebate unless and until you have an eligible product and the trailing commission has been received by Us and You have provided Us with current bank account details so that any commission may be directly deposited into Your nominated account. It is Your responsibility to ensure We hold Your current bank account details. If at the time We are due to pay any rebate to You, Your account details are not current, We may retain the trailing commission and We are not obliged to pay You Your rebate entitlement.
Subject to the Future of Financial Advice (FOFA) reforms, members may be required to sign "opt-in" agreements, that acknowledges that YourShare is entitled to receive the trail commission from the fund manager or product issuer. If you do not sign the "opt-in" agreements, you will not be entitled to any rebate.
We will not be obliged to pay any commission rebate to a member unless and until the commission has been received by Us and the member has provided Us with current bank account details so that any commission rebate may be directly deposited into the member’s nominated account.
Eligible products
Due to the findings of the Financial Services Industry Royal Commission, which was concluded in February 2019, trailing commissions paid to financial advisers for financial products other than life insurance products are to be banned.
For this reason, We ceased rebating trailing commissions for financial products other than life insurance, on 10 April 2020 and affected eligible participants will receive a rebate on commissions received by Us up to and including 10 April 2020 in accordance with these Terms and Conditions.
We will continue to rebate trailing commissions on life insurance, income protection or trauma cover (TDP) in accordance with these Terms and Conditions.
Trademarks and Copyright
You agree, when acquiring financial, credit or other products through the YourShare Website, to receive Financial Services Guides, Product Disclosure Statements, Credit Guides, Credit Quotes, Credit Proposals and any other disclosure document, electronically via email or by accessing the document online, at the YourShare Website or at another website We direct You to.
You agree to complete the relevant application forms for any product You wish to acquire.
You may download, display, print and reproduce the material available on the YourShare Website in unaltered form only (retaining this notice) for Your personal, in-house or non-commercial use. You may not copy, re-transmit, distribute or commercialise the material without Our permission. For any other proposed use, You must contact Us for formal permission.
Offering of Financial Products
You agree, when acquiring financial, credit or other products through the YourShare Website, to receive Financial Services Guides, Product Disclosure Statements, Credit Guides, Credit Quotes, Credit Proposals and any other disclosure document, electronically via email or by accessing the document online, at the YourShare Website or at another website We direct You to.
You agree to complete the relevant application forms for any product You wish to acquire.
Financial products will be allocated at the discretion of the offering company and the underwriter (if applicable) in accordance with the Corporations Act and the disclosure document. Credit products will be offered subject to the terms and conditions of that product and the lender’s assessment policies and procedures. We cannot guarantee that applicants will successfully receive an allocation, a financial product or a credit product.
Unless otherwise specifically stated or disclosed YourShare has not been involved in the preparation of, nor has it authorised or caused the issue of, any Disclosure Documents offered or made available to you via YourShare.com.au or otherwise by or on behalf of YourShare.
Unless otherwise specifically stated or disclosed, none of the information in any Disclosure Document constitutes, and must not be construed as, an offer or recommendation of financial products by YourShare. Nor is it an invitation by YourShare to you to deal in financial products.
Financial Services Guide
In accessing the YourShare website You acknowledge You have been given the opportunity to receive, download and ask questions about the YourShare Financial Services Guide.
Liability
To the maximum extent permitted by law, We disclaim liability for any damages, including, without limitation, direct or indirect, special, incidental, compensatory, exemplary or consequential damages, losses or expenses, including without limitation lost or misdirected orders, lost profits, lost goodwill, or lost or stolen programs or other data, however caused and under any theory of liability (including contract, tort (including negligence), equity or statute) arising out of or in connection with (1) use of the YourShare Website, or the inability to use the YourShare Website by any party; or (2) any failure or performance, error, omission, interruption, defect, delay in operation or transmission; or (3) line or system failure or the introduction of a computer virus, or other technical sabotage; or (4) any content on the YourShare Website, including content published by Us, You or other users; or (5) Your disclosure of Your login, username, password, or any other applicable security features from time to time to any other person, or Your failure to take reasonable precautions in the protection of login, username, password or other applicable security features.
Indemnity
You indemnify Us (and any of Our related bodies corporate) in respect of any liability incurred by Us (or any of our related bodies corporate) for any loss, cost, damage, expense, howsoever caused, We suffer as a result of Your negligent or wrongful act or omission or Your breach of any term, condition or warranty in these Terms and Conditions.
Links
The YourShare Website may contain a number of links to other Internet sites which are operated by third parties. The provision of the link does not mean that We endorse or accept any responsibility for the content, use, or products and services made available through the associated web sites. By utilising these links, You acknowledge and agree that We are not responsible for the actions, content, accuracy, privacy policies, opinions expressed, services provided, goods sold, or other links provided by these sites. You further acknowledge and agree that We are not responsible either directly or indirectly for any damage or loss caused by use of or reliance on linked sites. Should You have any questions regarding these sites, You should address them directly with the relevant site administrator.
Notices and general communications
You must notify Us of any change to Your contact details within ten business days. Any notice required to be given under this agreement will be validly given if it is sent to the last known postal address, electronic mail address or facsimile number of the other party, except where the contract expressly identifies the required delivery method.
You agree to receiving emails from us about your arrangements with Us and about other products and services that We provide. Please contact Us If you do not wish to receive emails from Us about other products and services.
Variation
These Terms and Conditions of use of the YourShare Website may be varied by Us at any time by posting updated Terms and Conditions on the YourShare Website homepage. Variations to the YourShare Website will be effective on posting of the amended terms. We will make every effort to communicate any material changes to these terms to you by email or notification through the YourShare Website. It is likely that these terms will change over time and it is Your responsibility to ensure that You have read, understood and agree to the most recent terms available on the Website. Your continued use of the Website after any changes are made to these terms will be deemed to constitute Your acceptance of those changes.
Termination
These Terms and Conditions of use of the YourShare Website may be terminated by You without notice to Us. We may terminate these Terms and Conditions immediately if You have breached these Terms and Conditions. We may terminate these Terms and Conditions by giving you 30 days written notice if we determine in our reasonable opinion that the services offered through the YourShare Website may no longer be provided in an economically viable manner.
Notice may be given in writing electronically by email.
If these Terms and Conditions are terminated, Our agreement to provide You with access to the YourShare Website ends immediately.
Law
This agreement is governed by the law in force in the state of New South Wales, Australia. Any dispute arising in connection with these Terms and Conditions or in connection with Your use of this site which cannot be resolved by good faith negotiations between Us shall be referred to mediation or to arbitration. However, We reserve, at Our absolute discretion, Our right to instigate legal proceedings prior to negotiation, arbitration or mediation against any individual, organisation or entity, who in Our opinion has acted in breach of these Terms and Conditions.
