50Plus Wealth - Privacy Notice

This Privacy Policy sets out the approach which 50Plus Wealth will take in relation to the treatment of personal information. It includes information on how 50Plus Wealth collects, uses, discloses and keeps secure, individuals personal information. It also covers how 50Plus Wealth makes the personal information it holds available for, access to, and correction by the individual.

This policy has been drafted having regard to 50Plus Wealth’s obligations under the Privacy Act 1988 (including the new National Privacy Principles) (the Privacy Act). This Policy is a public document and has been prepared in light of National Privacy Principle 5, Openness.

1. COLLECTION

1.1 50Plus Wealth will only collect personal information where the information is necessary for 50Plus Wealth to perform one or more of its functions or activities. In this context, "collect" means gather, acquire or obtain by any means, information in circumstances where the individual is identifiable or identified.

1.2 50Plus Wealth collects personal information primarily to provide clients with financial advice sought from it and its related companies. 50Plus Wealth also collects and uses personal information for Secondary Purposes including:
i. business planning and product development; and
iv. to assist in the maintenance and updating of client information.

1.3 50Plus Wealth will not collect sensitive information from individuals except with consent and only where it is necessary for 50Plus Wealth to collect such information for an activity or function.

1.4 50Plus Wealth will not collect personal information secretly or in an underhanded way.

2. USE

2.1 50Plus Wealth will obtain an individual's consent for use of non-sensitive personal information for secondary purposes at the time of collection, unless the use is a related secondary purpose which would be within the relevant individual's reasonable expectations.

2.2 50Plus Wealth uses personal information primarily for the purposes listed in 1.2 above.

2.4 50Plus Wealth will not use sensitive information for direct marketing.

2.5 50Plus Wealth may use personal information to avoid an imminent threat to a person's life or to public safety. It may also use personal information for reasons related to law enforcement or internal investigations into unlawful activities.

2.6 50Plus Wealth will not use personal information without taking reasonable steps to ensure that the information is accurate, complete and up to date.

3. DISCLOSURE

3.1 50Plus Wealth may disclose personal information to related or unrelated third parties if consent has been obtained from the individual. This will include obtaining the individual's consent for disclosures made under the credit reporting requirements of the Privacy Act.

3.2 50Plus Wealth may disclose personal information between related bodies corporate. Where information is disclosed to such a related body corporate, that related body corporate is bound by the original primary purpose for which the information was collected.

3.3 50Plus Wealth may disclose personal information to unrelated third parties to enable outsourcing of functions (such as billing, customer relations management and order fulfilment), where that is disclosure or use for a related secondary purpose and has been notified to individuals or where such disclosure is within the individual's reasonable expectations.

3.4 50Plus Wealth will take reasonable steps to ensure that its contracts with third parties include requirements for third parties to comply with the use and disclosure requirements of the Privacy Act.

3.5 50Plus Wealth may disclose personal information to law enforcement agencies, government agencies, courts or external advisers where permitted or required by law.

3.6 50Plus Wealth may disclose personal information to avoid an imminent threat to a person's life or to public safety.

3.7 If a disclosure is not for a primary purpose; is not for a related secondary purpose; or upfront consent has not been obtained, 50Plus Wealth will not disclose personal information otherwise than in accordance with the exceptions set out at 3.1 to 3.6 above.

3.8 50Plus Wealth will not sell or share its customer lists on a commercial basis with third parties but if it did, it would only do so if it had the appropriate consent of the individual involved. If the consent provided is conditional, 50Plus Wealth will take steps to ensure (by contract) that the use of its customer list by third parties does not exceed the scope of the consent.

4. INFORMATION QUALITY

4.1 50Plus Wealth will review, on a regular and ongoing basis, its collection and storage practices to ascertain how improvements to accuracy can be achieved.

4.2 50Plus Wealth will take steps to destroy or de-identify personal information after as short a time as possible and after a maximum of seven years from the date of the last client interaction, unless the law requires otherwise.

5. INFORMATION SECURITY

5.1 50Plus Wealth requires employees and contractors to perform their duties in a manner that is consistent with 50Plus Wealth’s legal responsibilities in relation to privacy.

5.2 50Plus Wealth will take all reasonable steps to ensure that paper and electronic records containing personal information is stored in facilities that are only accessible by people within 50Plus Wealth who have a genuine "need to know" as well as "right to know".

5.3 50Plus Wealth will review, on a regular and ongoing basis, its information security practices to ascertain how ongoing responsibilities can be achieved and maintained.

6. ACCESS AND CORRECTION

6.1 50Plus Wealth will allow its records containing personal information to be accessed by the individual concerned in accordance with the Privacy Act.

6.2 50Plus Wealth will correct its records containing personal information as soon as practically possible, at the request of the individual concerned in accordance with the Privacy Act.

6.3 Individuals wishing to lodge a request to access and/or correct their personal information should do so by contacting 50Plus Wealth Client Service, as per the details on the website.

6.4 50Plus Wealth can charge a fee for processing an access request but will generally not do so unless the request is complex or is resource intensive.

7. OPENNESS

7.1 50Plus Wealth Client Service representatives will be the first point of contact for inquiries about privacy issues. Individuals wishing to make an inquiry or complaint regarding privacy, should do so by contacting 50Plus Wealth Client Service, as per the details on the 50Plus Wealth website.

7.2 50Plus Wealth websites will contain a prominently displayed privacy statement and will include a copy of 50Plus Wealth Privacy Policy.

8. ANONYMOUS TRANSACTIONS

8.1 50Plus Wealth will not make it mandatory for visitors to its web sites to provide personal information unless such personal information is required to answer an inquiry or provide a service. 50Plus Wealth may however request visitors to provide personal information voluntarily to 50Plus Wealth.

9. TRANSFERRING PERSONAL INFORMATION OVERSEAS

9.1 50Plus Wealth will take reasonable steps to limit the amount of personal information it sends to unrelated organisations overseas.

9.2 If personal information must be sent by 50Plus Wealth overseas for sound business reasons, 50Plus Wealth will require the overseas organisation receiving the information to provide a binding undertaking that it will handle that information in accordance with the National Privacy Principles, preferably as part of the services contract.

10. GLOSSARY

Collection Information means the information outlined in 1.3 notified to individuals prior to, or as soon as practical after, the collection of their personal information.

Direct Marketing means the marketing of goods or services through means of communication including written, verbal or electronic means. The goods or services which are marketed may be those of 50Plus Wealth or a Related Body Corporate or those of an independent third party organisation.

Disclosure generally means the release of information outside 50Plus Wealth, including under a contract to carry out an "outsourced function".

Opt Out means an individual's expressed request not to receive marketing material from 50Plus Wealth.

Personal information means information relating to an individual client or an entity for which the client is associated.

Primary Purpose is the dominant or fundamental reason for information being collected.

Reasonable Expectation means a reasonable individual's expectation that their personal information might be used or disclosed for the particular purpose.

Related Body Corporate means that where a body corporate is:

• an entity which an individual client is associated with;
• a holding company of another body corporate;
• a subsidiary of another body corporate; or
• a subsidiary of a holding company of another body corporate, the first mentioned body corporate and the other body corporate are deemed to be related to each other.

Sensitive Information means:

a. information or an opinion about an individual's:

i. racial or ethnic origin; or
ii. political opinions; or
iii. membership of a political association; or
iv. religious beliefs or affiliations; or
v. philosophical beliefs; or
vi. membership of a professional or trade association; or
vii. membership of a trade union; or
viii. sexual preferences or practices; or
ix. criminal record;

b. Health Information about an individual.

Use means the handling of personal information within 50Plus Wealth.

Contacting 50Plus Wealth

If you require further information regarding 50Plus Wealth's Privacy Policy, you can contact 50Plus Wealth Client Service by phone or email;

Telephone: (03) 5444 1201
Email 50Plus Wealth at: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it