A Financial Services Guide (FSG) is a document that Australian financial services licensees — including insurance brokers — are legally required to provide to clients before providing financial services. If you have received one from HC Insurance or any other broker and wondered what it actually means and why it matters, this guide explains everything you need to know.
What Is an FSG?
An FSG is a disclosure document required under the Corporations Act 2001 and regulated by the Australian Securities and Investments Commission (ASIC). Its purpose is to help you make an informed decision about whether to use the financial services being offered. It must be given to you before or at the time financial services are provided.
What Does an FSG Tell You?
An FSG must contain specific information about the financial services provider, including:
- Who they are — the name, contact details, and Australian Financial Services Licence (AFSL) number of the licensee.
- What services they provide — the types of financial products and services they are authorised to offer.
- How they are paid — details of all remuneration, commissions, and fees the provider receives, including payments from insurers.
- Any conflicts of interest — relationships or arrangements that could influence the advice or services provided.
- How complaints are handled — the internal and external dispute resolution processes available to you.
- Your privacy rights — how your personal information is collected, used, and protected.
Why Is the FSG Important for Insurance Clients?
The FSG is one of the key transparency mechanisms in the Australian financial services system. For insurance clients, it is particularly important because it discloses how your broker is remunerated — including commissions paid by insurers. This allows you to understand any potential conflicts of interest and make an informed judgement about the advice you receive.
In Australia, insurance brokers are legally required to act in your best interests. The FSG is part of the regulatory framework that supports this obligation and gives you confidence that the advice you receive is genuinely focused on your needs.
HC Insurance’s FSG
At HC Insurance, we provide our FSG to all clients before providing financial services. Our FSG outlines our services, our remuneration arrangements, and your rights as a client. You can access our current FSG on our website or request a copy directly from our team. If you have any questions about our FSG or the services we provide, we encourage you to contact us directly.