1.1 This Financial Services Guide (FSG) is issued by Liberty Platform Pty Ltd (ACN 694 912 126, ABN 83 694 912 126) (Liberty Stone, we, us), which operates the Liberty Stone platform at libertystone.com and libertystone.com.au (Platform). It is designed to help you decide whether to use our financial services. It explains:
- who we are and who is responsible for our services;
- the financial services we can provide;
- how your cash and investments are held;
- how we and others are paid, and any relationships that could influence our services; and
- how to make a complaint and the compensation arrangements in place.
1.2 This FSG is not a Product Disclosure Statement and does not contain personal advice. When we arrange a financial product for you, you will receive its Product Disclosure Statement, Target Market Determination or other offer document where the law requires it. Read this FSG together with our Terms and Conditions and Privacy Policy.
1.3 Who is responsible. Liberty Stone is a Corporate Authorised Representative (CAR number 531729) of:
YP Securities Pty Ltd (ACN 647 627 889, ABN 41 647 627 889), Australian Financial Services Licence 531729 (Licensee) 29 Wandypark Road, Wandandian NSW 2540 · AFCA member 91298
The Licensee is responsible for the financial services we provide on its behalf and has authorised the distribution of this FSG.
1.4 Change to Idealx. Liberty Platform Pty Ltd is being converted to Idealx Pty Ltd, and YP Securities Pty Ltd is being converted to Idealx Securities Limited. Each company keeps its ACN and ABN, and the AFSL (531729) stays the same. A change of name does not create a new legal entity or change our responsibilities to you. From the date each change takes effect, references in this FSG to the old name mean the new name.
1.5 How to contact us. Liberty Platform Pty Ltd, Suite 109, Level 1, 40 Burgundy Street, Heidelberg VIC 3084 · compliance@libertystone.com.au. You can give us instructions through your authenticated Platform account.
2.1 On behalf of the Licensee, we are authorised to provide general financial product advice and to deal (by arranging, applying for, acquiring, varying or disposing of products for you) in the following classes of financial products, for retail and wholesale clients:
- basic and non-basic deposit products, including term deposits issued by our Partner Institutions;
- debentures, stocks or bonds issued or proposed to be issued by a government;
- interests in managed investment schemes, including fixed-income and cash funds; and
- securities, including listed shares and exchange-traded funds.
2.2 Through the Platform these authorisations support:
- cash accounts and multi-currency management, held with our Partner Institutions;
- access to term deposits and other fixed-term investments;
- share, ETF and other securities trading through the Prime Broker; and
- managed investment scheme access and administration, and SMSF administration and reporting tools.
An authorisation for a class of product does not mean every product in that class is available on the Platform.
2.3 General advice only. We do not provide personal advice. Any advice we give is general advice and does not take into account your objectives, financial situation or needs. Before acting on it, consider whether it is appropriate for you, read the relevant Product Disclosure Statement and Target Market Determination, and where appropriate get advice from a licensed financial adviser.
2.4 What we do not do. We are not an Authorised Deposit-taking Institution and do not issue deposits or hold client cash in our own accounts. We do not operate an investor directed portfolio service, do not act as responsible entity of any registered scheme, and do not offer margin lending, short selling or derivatives through the Platform.
3.1 Cash in your own name. Your cash is held with a licensed deposit-taking institution or regulated e-money institution (Partner Institution), in an account opened in your own name and designated to you. Liberty Stone does not receive, hold or pool client cash, and your cash is not available to our creditors. Our current Partner Institutions are:
- Banks and deposit-taking institutions: Cuscal Limited, JPMorgan Chase Bank (JPM), SSB Bank and Zenus Bank.
- E-money institutions: Delos Banking, Mesta, and OpenPayD (an electronic money institution authorised in the European Union).
The Platform shows which Partner Institution holds each of your accounts.
3.2 Protection. Money held with a bank or deposit-taking institution is a deposit and may be covered by the deposit protection scheme of that institution's home jurisdiction (in Australia, the Financial Claims Scheme), subject to its terms and limits. Money held with an e-money institution is not a deposit and is not covered by a deposit protection scheme; it is safeguarded under the institution's licence.
3.3 Term deposits and other fixed-term investments. Term deposits are issued by deposit-taking Partner Institutions, based on the currency you choose, at rates and on terms they set. Other fixed-term investments, such as fixed-income or cash funds, notes and bonds, are issued by their own issuers under their offer documents. They are not deposits, are not covered by any deposit protection scheme, and can lose value.
3.4 Investments through the Prime Broker. The Licensee selects, appoints and oversees the prime broker that executes, clears, settles and holds your investments (Prime Broker). Securities are held in your name or, where a market requires it, by the Prime Broker's custodian as nominee for you and recorded as yours, separate from the assets of Liberty Stone, the Licensee and the Prime Broker. The Prime Broker's name and regulatory details are shown on the Platform.
4.1 Fees you pay us. Our fees are set out in full in the Fee Schedule on the Platform and in each product's disclosure documents. The transaction screen shows the amount or an estimate before you confirm. In summary:
| Fee | Amount |
|---|---|
| Account opening, account-keeping, custody and inactivity | Nil |
| Brokerage: Australian shares and ETFs (ASX and Cboe Australia) | The greater of A$2.40 or 0.008% of executed value, per order |
| Brokerage: US shares and ETFs | The greater of US$2.40 or 0.008% of executed value, per order |
| Brokerage: other international shares and ETFs | A percentage of executed value with a minimum per order, set by market (for example 0.0625% with a minimum of GBP 1.25 on the LSE); full rates in the Fee Schedule |
| Currency conversion | 1% of the amount converted, no minimum |
| Incoming deposits | Nil (your bank may charge its own fees) |
| Domestic AUD transfers and withdrawals | 0.1% of the amount sent, minimum A$1, maximum A$10 |
| International transfers | Quoted before you confirm |
| Placement and deal access fees for managed investment products | As disclosed in the offer document |
Fees include GST where applicable. No brokerage is charged on an order that is not executed, and statutory taxes and levies are shown separately.
4.2 Payments from Partner Institutions and product issuers. Partner Institutions and issuers of term deposits and other fixed-term investments may pay us a fee or a share of their margin for arranging your account or investment. These payments are made by the institution or issuer, not taken from your balance, and do not change the rate or return you are offered.
4.3 Payments to the Licensee. We pay the Licensee for its licensee services under a commercial agreement. This is not an extra charge to you.
4.4 Staff and referrers. Our directors and employees receive salaries and may receive bonuses that are not linked to particular products. We may pay introducers and referral partners a fixed amount or a share of our own revenue for genuine introductions, in line with the conflicted remuneration rules in the Corporations Act 2001 (Cth). Where the law requires it, the referrer and the amount or basis of payment are disclosed to you before you invest.
4.5 You may ask us for more detail about any remuneration within a reasonable time after receiving this FSG and before we provide the service.
The Licensee holds professional indemnity insurance that it considers adequate for the financial services it and its authorised representatives provide, as required by section 912B of the Corporations Act 2001 (Cth) and ASIC Regulatory Guide 126. Subject to its terms, the insurance covers claims about the conduct of current and former representatives, including Liberty Stone. It is not a guarantee of investment returns.
6. Privacy
We collect, use and disclose your personal information as described in our Privacy Policy, including disclosure to Partner Institutions, the Prime Broker and the Licensee to open and operate your accounts. The Privacy Policy explains how to access or correct your information.
7. Complaints
7.1 If you have a complaint, contact us first:
- email compliance@libertystone.com.au;
- through your Platform account; or
- in writing to Complaints, Liberty Platform Pty Ltd, Suite 109, Level 1, 40 Burgundy Street, Heidelberg VIC 3084.
We will acknowledge your complaint promptly and aim to resolve it within 30 days, as set out in our Complaints Policy. We coordinate with the Licensee, so you do not need to work out which entity is responsible.
7.2 If you are not satisfied with our response, or we have not responded within 30 days, you can refer your complaint to the Australian Financial Complaints Authority (AFCA), a free, independent external dispute resolution scheme:
www.afca.org.au · 1800 931 678 · info@afca.org.au · GPO Box 3, Melbourne VIC 3001
The Licensee's AFCA membership number is 91298.
7.3 Complaints about a product issued by a Partner Institution or other issuer can also be made to that issuer under its own complaints process.
These legal documents apply to the Liberty Stone platform and should be read together with relevant product disclosures and any independent professional advice you obtain.