Privacy Policy

Wealth23 Dealer Group Services Privacy Policy

1.1 What is Wealth23 Dealer Group Services?

For the purpose of this Privacy Policy, Wealth23 Dealer Group Services consists of Wealth23 Pty Ltd operating as the holding company and providing administration and staffing services to entities of the group through their agents, officers, employees, and credit/financial planning advisers.

For the purpose of this Privacy Policy, the entity, its officers, agents, employees, contractors, and representatives will be bound under these arrangements.

1.2 Responsibility

Wealth23 acknowledges the importance of having an effective and efficient Privacy Policy in accordance with the Australian Privacy Principles (APPs). The Privacy Amendment Act introduced significant changes to the Privacy Act 1988 (Cth) (Privacy Act). This Policy provides guidance on how Wealth23, its entities, officers, advisers, agents, and employees who collect, use, and retain personal and sensitive information will comply with the APPs.

1.3 Overview

Wealth23 intends that this policy will apply to all entities of the group. The Privacy Amendment Act states that the APPs apply to individuals, body corporates, partnerships, unincorporated associations, or trusts unless they are a small business operator. A small business operator is defined as a business with an annual turnover of $3,000,000 or less for a financial year unless an exemption applies.

Notwithstanding that some advisers may operate a business that would come under the small business exemption, as advisers or agents of Wealth23, they will still be obliged to comply with the APPs.

This Policy replaces the previous Privacy Policy and is effective from 28 June 2024.

1.4 Definition

Personal information means information or an opinion about an identified individual or an individual who is reasonably identifiable:

Whether the information or opinion is true or not; and
Whether the information or opinion is recorded in a material form or not.

1.5 APP1 – Open and Transparent Management of Personal Information

APP 1 requires organisations to have ongoing practices and policies in place to ensure that they manage personal information in an open and transparent way.

APP 1 introduces more prescriptive requirements for privacy policies than the existing requirements in NPP 5.1. An organisation must have an APP privacy policy that contains specified information, including the kinds of personal information it collects, how an individual

may complain about a breach of the APPs, and whether the organisation is likely to disclose information to overseas recipients. An organisation needs to take reasonable steps to make its APP privacy policy available free of charge and in an appropriate form.

APP 1 also introduces a positive obligation for organisations to implement practices, procedures, and systems that will ensure compliance with the APPs and any registered APP codes.

In accordance with the above requirements, it is the policy of Wealth23 that:

All persons to whom this policy applies are required to inform themselves of their obligations under the APPs.
Wealth23 will provide training as and when required to ensure persons to whom this policy applies are aware of their obligations under the APPs.
All clients of Wealth23 are entitled to access their private information upon request.

Any complaints in regard to the handling of private information shall be referred to the Privacy Officer, details of which are provided in section 1.18.

How Wealth23 manages private information will be set out in this policy. This policy shall be made available on websites operated by Wealth23 and its related companies, agents, and representatives.

On request, clients are to have free access to this policy in any form requested, so long as it is practical to do so.

Wealth23 may collect and hold personal information such as a person’s name, address, date of birth, income, tax file number (TFN), and other information that may be required to provide services to clients. This information is collected directly from its clients and held by Wealth23 or its advisers and agents.

Any personal information collected by Wealth23 is solely for the purpose of providing services to clients and meeting licensing obligations. It is not to be used for any other purpose without consent.

Clients may seek access to their personal information by contacting the appropriate entity of Wealth23. If corrections are required, the client may make amendments by notifying the appropriate entity.

If a client is not satisfied with the outcome of their complaint, they may lodge a complaint with the Office of the Australian Information Commissioner (OAIC). Further information is available on the OAIC’s website at www.oaic.gov.au.

Wealth23 will only disclose personal information to overseas recipients to give effect to the instructions of a client. Due to the variety of international financial services available to clients, it is not practical to list all countries to which this applies.

1.18 Privacy Complaints

If a client believes that a breach of the APPs has occurred, they can direct their complaint to the Privacy Officer.

Contact Details:
Privacy Officer
Wealth23 Dealer Group Services
Suite 11. 100 Harbour Esplanade, Docklands VIC 3008
Tel: (03) 7036 0690
Email: admin@wealth23.com.au

1.19 Non-compliance with this Policy
Non-compliance with this Policy may result in disciplinary action, including termination of a relationship with Wealth23 if the breach is considered serious.

If you are uncertain about this policy, contact the Privacy Officer on (03) 7036 0690.