Terms and privacy
Life Sherpa® recognises the trust you have placed in us to help you improve your finances. In order to help you improve your financial position we need to know about you, your family, your financial circumstances and your values, goals and objectives. We appreciate that some of this information is particularly sensitive. We assure you that we will treat this information with respect and confidentiality and have implemented a number of important security measures to protect your privacy. This policy provides an outline of what information we collect and why we collect it as well as how we protect it. It also gives you information about how you can correct your information and how to tell us if you think there has been a breach of your privacy.
Financial AND CREDIT Advice
In general, the information and material published on the Website or otherwise made available to you by us (including any tools, calculators, linked sites or third party content) is for general and illustrative purposes only and is not intended to constitute specific commercial, financial, investment, accounting, taxation or legal advice.
Where you expressly seek, and we provide, Personal Advice (that is, it takes into account your objectives, financial situation or needs) we will provide you with a written Statement of Advice or other document as required by the Corporations Act.
GENERAL ADVICE WARNING
Any other Advice is General Advice and has been provided without regard to the needs or specific financial objectives of any particular user of the Site.
Accordingly, you should consider whether the use of such information or material is appropriate in your individual circumstances and seek advice from a qualified professional before making any financial decisions. In particular, before deciding to acquire a financial product, read the relevant disclosure document and consider whether the product is suitable for your needs, objectives and circumstances. Ask your Sherpa for advice.
WE RELY ON WHAT YOU TELL US ABOUT YOURSELF
Certain functions of the Website and any Advice that we provide to you are based on the information you have provided us in response to questions on Money Personality, FinancialFreedom Factor, Your Financial Life and any form required in relation to any request for advice.
If the information provide by you is out of date, incomplete or inaccurate, the Advice may not be appropriate to your needs, objectives or circumstances. Before acting on any advice you should review the information you have provided to us to ensure it is timely, complete and accurate. If in doubt Ask your Sherpa.
LIFE SHERPA® IS LICENCED BY ASIC
Financial Advice and Credit Assistance are provided in accordance with our Combined Financial and Credit Services Guide. You should read this before acting on any Advice.
Financial Advice (as defined in s766B of the Corporations
Act (Cth) 2001), is provided by Life Sherpa Pty Limited as an authorised
representative of MoneySherpa Pty Limited (ACN: 164 927 708). Credit Assistance
is provided by Life Sherpa Pty Ltd as credit representative of MoneySherpa Pty
MoneySherpa Pty Limited holds Australian Financial Service Licence No. 451289 and Australian Credit Licence No. 451289 issued by the Australian Securities and Investments Commission.
Memberships are personal and may not be shared. Organisations, companies, businesses or institutions may not become Members. We may make available from time to time various classes of membership. Each class of Membership has associated rights and privileges. Some classes of Membership require payment of a Membership Fee. Details of Membership Classes are published on the PlansPage of the Website. The Owner reserves the right to cease operating the Website or to add or delete classes of membership from time to time and to amend the rights and privileges associated with each class without further notice to you. You may terminate, upgrade or downgrade your membership at any time. Any such changes which increase the membership Fee will be effective when we receive the first payment. Where such a change occurs other than at commencement of a billing cycle will receive a credit for amounts already paid and incurs a pro rata payment for part periods. Refunds will not be made in relation to amounts prepaid. Where we cease to offer a particular class of membership prior to the end of any prepaid period we will provide a pro rata refund.
Membership and other Fees, to the extent they are not paid by Product Providers, must be paid through the Website and processed through our Payment Provider (Stripe). All credit card and debit card payments are subject to validation checks and authorisation by the card issuer. If the issuer of your payment card refuses to or does not for any reason authorise payment for a particular Membership or other Fee, the payment will not be processed. You may elect to have Subscription Fees automatically debited from your nominated bank account or credit or debit card. If the applicable Membership Fee is not paid to us or automatically debited for any reason by the due date, we may cancel your Membership or temporarily deny you access to the Website until such time as payment of the Membership Fee is received by us in full. All payments are processed by our Payment Provider and we do not keep a record of your credit card or debit card number for payment purposes. You acknowledge and agree that we are not involved in the processing of any payment transaction between you and Stripe and Stripe's own terms and conditions apply to each payment. Stripe may not accept all types of credit and debit cards and may only accept credit and debit cards issued by service providers specifically identified by Stripe from time to time. You should ensure you are familiar with all Stripe terms and conditions before you submit any payment through Stripe. To the extent legally permitted, We will not be liable to any party for any Losses in any way connected to, related to or arising from any payment transaction you enter into with Stripe.
We offer a number of ways for you to receive the benefit of commissions paid to us in relation to Financial Products or Credit Products which you have acquired. We will pay you commissions in the next scheduled payment run after we receive them from the provider. This will usually be on a fixed day each month. We will pay you the amount received less any GST, any service fee which we must pay to receive the payment and the relevant threshold. Most home loans and insurance products have a Clawback or Responsibility period during which the payer can seek repayment of some or all of the upfront commissions paid if you cancel the policy or repay the loan. This is usually 1 – 2 years. Where there is a clawback, we will debit your bank account or credit card for your pro rata share of the clawback. If for any reason this charge is not successful, the amount of the clawback will be a debt presently due and payable by you and we will seek to recover it. Where you have acquired the product through our service, details of all fees including any commissions we receive , the portion to be rebated to you and any clawback provisions will be included in the Statement of Advice or Credit Quote you receive. Where you have acquired the loan, investment or insurance product elsewhere, we will advise you of any clawback when we become aware of it. You must provide us with details of an Australian bank account capable of receiving deposits. We shall comply with our obligation to make payment by initiating a direct credit to your nominated account.
Use of material on the website
The Website contains copyrighted material, trademarks, and other proprietary information owned by Us or licensed to Us. We retain all proprietary rights in and to the Website. We reserve all intellectual property rights, including, but not limited to, copyright in material made available on the Website. Other than for “Fair Use” you may not copy, modify, publish, transmit, distribute, perform, display, upload, repost, or “frame” or sell any such proprietary information unless that information is otherwise in the public domain,. You must not modify, copy, adapt, sublicense, translate, sell, reverse engineer, decipher, decompile or otherwise disassemble any portion of the Website or any related software or cause others to do so.
Links to other websites
The Website may contain links to sites on the World Wide Web (“WWW”) owned and operated by third parties and which are not under the control of the Owner. Where it does so, the Owner:
- provides the links to other sites as a convenience to you;
- the provision of such a link does not imply any endorsement by the Owner of the linked site or its information, products or services; and
- is not responsible for the information or material contained on those linked sites.
Every reasonable effort has been made to ensure that the information and material provided on the site (including the results of tools, calculators, linked sites and third party content) is accurate and complete. However, We do not warrant, guarantee or make any representation that:
- the Website or any server that makes the Website available are free of software viruses
- the functions embodied in any software contained or provided on the Website will operate uninterrupted or are error-free OR
- that errors and defects in the Website will be corrected in a timely manner if at all
- errors or omissions in the Website or any linked sites; or
- delays to, interruptions of or cessation of the services provided on the Website, or linked sites;
regardless of cause whether or not caused through the negligence of the Owner, its employees or independent contractors.
Limitation of liability
To the fullest extent permissible by law, We and our officers, employees and agents accept no liability for any costs, losses or damages of any kind, which you may incur, arising whether directly or indirectly as a result of:
- your use of the Website or reliance on any information or material published on the Website;
- your removal of any information or material from the Website; and
Our liability for any cause whatsoever (regardless of the form of the action) will at all times be limited to the amount paid by you to Us for all publications, products and services provided to you by the Owner during the term of your use.
We take strong measures to protect Life Sherpa® and your information from unauthorised access. Virtual firewalls control traffic and protect your IP. Latest best-practice encryption techniques protect your password, and all traffic between you and Life Sherpa's servers. From the time you submit your login credentials, communications between your computer and lifesherpa.com.au are encrypted. The security of your Life Sherpa® account is maintained with disk storage encryption and authentication measures. Our servers are located in a highly secure facility, where access requires multiple levels of authentication and recognition procedures. Your password cannot be recovered, even by us. Learn more in our Privacy Statement.
Access to the Services may only be available from compatible devices which meet specific system or software requirements specified on the Website from time to time. We give no warranty or guarantee that access to or use of the Website will be available to all devices and you are solely responsible for ensuring that any device you use meets system, software or other requirements specified on the Website from time to time.
Your internet service provider may impose a connection or data charge for all Materials uploaded to or downloaded from the Website. You are responsible for informing yourself about and paying any applicable connection or data charges.
We are committed to providing you with the best possible service. If at any time we have not met your expectations – or you have a complaint about any of our services – please inform us so we can work towards a resolution. We will endeavour to deal with your complaint promptly, thoroughly and fairly. If you have a complaint relating to the Financial Advice or Credit Services we provide, we request you follow these steps:
- Tell your personal adviser Ask your Sherpa, or call us on 02 8188 8991.
- If this does not resolve your concern write or email the complaints officer email@example.com
- We will acknowledge your complaint within 24 hours and seek to resolve your concerns within 21 days.
- We are a member of the Australian Financial Complaints Authority (AFCA) Service. Their service is free and you may contact them:
By phone: 1800 931 678Website: https://www.afca.org.auMail: GPO Box 3, Melbourne VIC 3001Fax: 03 9613 6399
If your complaint relates to a product or service acquired through a third party (for example, a lender) we may ask you to contact the relevant third party. They will deal with your complaint under their complaints resolution process. We will help you. If you are not satisfied with the resolution of your complaint by the third party, you are entitled to have your dispute considered by their External Dispute Resolution Scheme.
The information we collect and hold
We collect information about you, your family and your financial position. We also collect information about your ambitions, values, goals and objectives. Where it is relevant (such as when you ask us to arrange life insurance) we may also collect information about your health and sexual preferences and your relationship. If you apply for a loan or income protection insurance or other product where you need to verify your income, we may receive documentation which includes your Tax File Number (such as your Payment Summary). Life Sherpa® complies with the laws that control how we handle this information.
How we collect and hold personal information
We collect information directly from you when you create an account or complete your profile, acquire a financial or credit product or use the tools provided on the site.
Where you request financial advice through one of our partners, we will receive information that you have provided to them and which they have shared with us with your consent. In turn, we will share the results of our review with them so that they can make it available to you.
We may also collect information in the course of personal communication with you by telephone, teleconference or in person. Information provided by you electronically is stored securely on our servers. Where the information is provided in physical form we will store it securely in our filing system and we may scan it and store it on our servers.
Why we collect, hold and use personal information
We collect this information to deliver the best possible customer service experience for our members and guests. We need it to:
understand your objectives, financial situation and needs
identify the subject matter of the advice that you are seeking
formulate appropriate advice about strategies and products which may fulfill your requirements
provide you with information you request about us or the products or services we offer through the website
provide information to persons expressly authorised by you (such as lenders, insurers and other service or product providers) to facilitate communications between you and them and provide them with the information necessary for them to supply you with the information, products or services you wish to receive
provide products or services you request from time to time
- process and obtain payment for any products or services you order from us through the Website
- collect and process commissions from product providers and lenders and calculate and pay your rebate
- determine and notify you of what products or services (including third party products and services) we consider are likely to be of most interest to you
- understand your needs and Website usage to help us improve the Website, our marketing or the way we do business
- if necessary, to verify your identity or age (e.g. over 18)prioritise the content presented to you on the website, our newsletter or other member communications and make it more relevant to you needs
- to contact you for direct marketing and promotional purposes including providing you with information about new products or services, events and special offers, unless you tell us that you do not wish to receive this type of information
- manage the website (including your Account)
From time to time we use external service providers such as mail houses, accounting services or commission management facilitators where we need to give them your details to deliver the service. We require them to look after your information and use it only for providing the service for which we have contracted them.We will not otherwise sell, rent or disclose your personal information to any third party unless you request us to or we are required by law.
How to deal with Life Sherpa® anonymously
You have the right to deal with us anonymously. You may do this by accessing the website without creating an account (or if you have an account by not logging in). You will however only be able to access a limited selection of the facilities available to members. If you create an account, you must use your real name. You may also create a pseudonym which will be displayed when you post a comment or share content. We are required by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to identify our customers when we provide a designated service (generally arranging for you to acquire a financial or credit product).
What happens if you don’t give us this information?
If you do not provide the information we request, we may be unable to provide you with appropriate advice or potentially to arrange for you to acquire products. You may not be able to use many of the tools on the website. We may also be unable to enroll you in our commission rebate program and pay your rebates.
How can you access and correct personal information
You have a right to access your personal information, subject to exceptions allowed by law. You can access and update most of your personal information by logging in to your account and viewing your profile. You may then edit your profile and save the changes. If there is anything else that you think is incorrect or out of date and you would like it updated, please let us know. We may need you to put your request in writing for security reasons. Life Sherpa® reserves the right to charge a fee for searching for, and providing access to, your information on a per request basis.
How to complain if you think there has been a breach of Privacy
We take our obligations with respect to privacy seriously. If at any time you think there may have been a breach of the Australian Privacy Principles or this policy or your expectations of privacy have not been met, contact your personal Sherpa. Alternatively you can contact thePrivacy Officer at:
We provide links to third party sites. Since we do not control these websites, we encourage you to review the privacy policies posted on these (and all) third party sites.
Life Sherpa® is aimed at Australian residents over the age of 18. We do not knowingly collect personal information from children under the age of 18. We encourage parents to go online with their kids. Here are a few tips to help make a child's online experience safer:
Teach kids never to give personal information (name, address, phone, school, etc), unless supervised by a parent or responsible adult.
Know the sites your kids are visiting and which sites are appropriate.
Look for Web site privacy policies.
Know how your child's information is treated.
Non Personal Information
We have a presence on various social media platforms, such as Facebook, Twitter, and LinkedIn. We receive anonymous and aggregated demographic and use data related to our presence on those platforms. We use tracking software to analyse traffic on this website or any supported devices, including tablets and other mobile devices. We do this to understand our customers' and visitors' needs and to continually improve our site. This web tracking software collects anonymous, aggregate statistics. Examples include internet protocol addresses, the date and time when you use our services, the type of computer browser, and the operating system that you used. We may aggregate and make anonymous your personal information, in part, so that we better understand how our Services are working in the aggregate. We may use and disclose this aggregated and anonymous data without restriction.