Data Distribution & Marketing Financial Services Guide and Credit Guide

Data Distribution & Marketing Financial Services Guide and Credit Guide

Data Distribution & Marketing Pty Limited ( ACN 150 515 941) (‘DDM’), Australian Financial Services Authorised Representative No. 420360 and Credit Representative No. 553565 of Canstar Research Pty Ltd ABN 29 114 422 909 (‘Canstar Research’), Australian Financial Services Licence and Australian.

Credit Licence No: 437917
Registered Office: Level 23, 275 George Street, Brisbane Qld 4000
Date: 16 December 2024

What is a Financial Services and Credit Guide?

This Financial Services and Credit Guide (‘FSCG’) is an important document prepared by DDM to assist you in determining whether you wish to use any of the financial services or credit services provided by DDM.

This FSCG also provides information about:

• who we are;
• what services and types of financial services and credit services we are authorised to provide you;
• how we are paid;
• any potential conflict of interest we may have; and
• our internal and external dispute resolution procedures and how you access them.

You should also read the product issuer’s Product Disclosure Statement (PDS) and Target Market Determination (TMD) before deciding to apply for or purchase any product. The PDS and TMD contain information about the product to help you make an informed decision about whether or not to apply for or purchase the product. You can find the PDS and TMD for each product on the product issuer’s website.

What Financial Services and Credit Services does DDM offer?

DDM is authorised, pursuant to its appointment as an Authorised Representative under Canstar Research’s Australian Financial Services Licence and a Credit Representative under Canstar Research’s Australian Credit Licence, to provide general financial product advice and deal and engage in credit activities. DDM does not take into account your individual financial objectives, personal circumstances, needs or situation in providing general advice, or dealing in financial products.

DDM provides the following financial and credit services via the Canstar website (www.canstar.com.au), Canstar app, and distribution partner’s websites:

1. Provide general advice and deal in financial products via online lead referrals.
2. Act as a credit intermediary via online lead referrals.
3. Displaying advertising and sponsored content.

As an Authorised Representative of Canstar Research, DDM is authorised to carry on a financial services business to provide general financial product advice for the following classes of financial products:

1. deposit and payment products including:
   • basic deposit products;
   • deposit products other than basic deposit products;
   • non-cash payment products;
2. general insurance products; and
3. life products limited to:
   • life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;
4. interests in managed investment schemes excluding investor directed portfolio services;
5. retirement savings accounts (“RSA”) products (within the meaning of the Retirements Savings Account Act 1997);
6. from 1 July 2022, securities in a CCIV; and
7. superannuation.

to retail and wholesale clients.

As a Credit Representative of Canstar Research, DDM is authorised to engage in credit activities other than as a credit provider by:

1. providing a credit service where the licensee is not or will not be:
   • where the service relates to a credit contract or proposed credit contract – the credit provider under the contract; or
   • where the service relates to a consumer lease or proposed consumer lease – the lessor; and/or
2. performing the obligations or exercising the rights of a credit provider in relation to a credit contract or proposed credit contract under which the licensee is not or will not be the credit provider; and/or
3. performing the obligations or exercising the rights of a mortgagee in relation to a mortgage or proposed mortgage that secures or will secure obligations under a credit contract under which the licensee is not the credit provider; and/or
4. performing the obligations or exercising the rights of a beneficiary under a guarantee or proposed guarantee that guarantees obligations under a credit contract under which the licensee is not the credit provider; and/or
5. performing the obligations or exercising the rights of a lessor in relation to a consumer lease or proposed consumer lease where the licensee is not or will not be the lessor.

Who is responsible for the financial and credit services provided? 

Data Distribution and Marketing Pty Ltd ABN 84 150 515 941, Authorised Representative No. 420360 and Credit Representative No. 553565 of Canstar Research, Australian Financial Services Licence and Australian Credit Licence No. 437917, both of Level 21, 143 Turbot Street, Brisbane Qld 4000.

Why is this guide provided to you?

Under the Corporations Act 2001, DDM is deemed to provide general financial product advice to you through any of the above means, even though we do not deal directly with you. DDM materials may be distributed to you through third party intermediaries, including advisers or mortgage brokers, or may be published on our website.

DDM does not accept instructions in relation to our services directly from consumers. 

DDM’s credit licence authorisation requires it to provide you with a credit guide setting out the information in this document.

Are there any relationships that exist that may influence us when we provide advice?

DDM is not owned by any financial product issuer. DDM and Canstar Research are wholly owned subsidiaries of Canstar Pty Limited (A.C.N. 053 646 165). DDM may provide some product issuers with referrals, advertising placements, data, research, licensing, IT or consulting services for a fee.

Mr Mark Gracey is Managing Director and CEO of Canstar, and a Director of Canstar Research, DDM and RateCity.  Mr Andrew Willink, Mr Lachlan Given and Ms Rosemary Willink are non-executive directors of Canstar.  Mr Jeremy Willink is an alternate director of Canstar.  Mr Andrew Willink is a Director of Canstar Research and DDM.  Mr Lachlan Given is a Director of RateCity and DDM.

Staff remuneration, commissions and other benefits

DDM employees (if any) receive a salary and do not receive remuneration, commissions or other benefits from any product issuers. They may be eligible for an annual performance payment or retention incentives which are discretionary and based on reaching agreed performance levels.

How are any commissions, fees or other benefits calculated for providing the financial services?

DDM may receive fees in relation to the following: 

1. Data services – institutions, intermediaries, re-sellers pay a fee calculated as a percentage of revenue generated by use of the Data, or on the basis of data usage;
2. Fees or commission for referrals from a comparison table or other location on the Canstar websites. These fees or commissions may be from product issuers, or from third parties (e.g. mortgage brokers). The remuneration may be calculated on a number of different models including by the number of referral clicks, flat periodic fees, or by reference to transactions resulting in referrals or acquired products/services;  
3. Advertising placement and sponsored content on Canstar’s website, online tools and in electronic direct mail – DDM may receive a fee from the advertiser for display of an advertisement or sponsored content on the Canstar website, online tools and/or electronic direct mail sent by Canstar, and/or if Canstar’s website users visit or transact on the advertiser’s website via that advertisement or sponsored content.
4. For each sale of an insurance policy that is made after a referral from the Canstar website, DDM receives payment from the relevant insurer. These payments are calculated with respect to a percentage of the premium of the sold policy, which fluctuates as the price of premiums changes over time and depending on the particulars of each insurance policy. Fees can be up to:

• 20% of Gross Written Premium for Travel Insurance
• 20% of Gross Written Premium for Pet Insurance
• 30% of Gross Written Premium for Home and Car Insurance

You may request particulars of fees applicable to a service that you are interested in purchasing by contacting DDM directly.

Will anyone be paid for referring me to you?

From time to time, DDM may pay for placement of advertising in a range of online locations and on other media (e.g. television and podcasts), and uses digital marketing services to increase traffic to Canstar’s websites.

Are there adequate compensation arrangements in place?

As required by law, DDM maintains professional indemnity insurance to cover the information, advice, and services we provide. Our policy satisfies the requirements set out in Chapter 7 of the Corporations Act 2001 and financial services regulations. These arrangements and the level of cover held by DDM satisfy the requirements of section 912B of the Corporations Act 2001. Any representatives who have left DDM’s employment are covered by our insurances in respect of events occurring during their employment.

What should I do if I have a complaint?

Should you wish to lodge a complaint about the service provided by DDM you should send an email to enquiries@canstar.com.au addressed to the Complaints Officer.

We have established procedures to ensure that all complaints are properly considered and dealt with.

If you are not satisfied with our response, you may lodge a complaint with the Australian Financial Complaints Authority:

Online: www.afca.org.au

Email: info@afca.org.au

Phone: 1800 931 678

Mail: AFCA Service Complaints

Australian Financial Complaints Authority

GPO Box 3, Melbourne VIC 3001