Canstar Research Financial Services Guide and Credit Guide

Canstar Research Pty Limited (ACN 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 Guide and Credit Guide?

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

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 Canstar Research offer?

Canstar Research is authorised, pursuant to its Australian Financial Services Licence and Australian Credit Licence, to provide general financial product advice and engage in credit activities. Canstar Research provides factual information and general advice only. We do not take into account your individual financial objectives, personal circumstances, needs or situation in providing that general advice.

Canstar Research provides the following financial and credit services:

1. Star Ratings and Awards of financial and credit products.
2. Bespoke financial and credit product research and comparison services.
3. Data driven online tool and calculators.
4. Provide financial and credit product information and comparisons for media (e.g. press releases).

Canstar Research is authorised to carry out a financial services business to provide general financial product advice and deal in a financial product 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 Retirement Savings Account Act 1997);
6. from 1 July 2022, securities in a CCIV; and
7. superannuation

to retail and wholesale clients.

Canstar Research is authorised pursuant to its Australian Credit Licence, 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?

Canstar Research is licensed under the Corporations Act 2001 and the National Consumer Credit Protection Act 2009 to provide the services outlined in this FSCG.

Why is this guide provided to you?

Under the Corporations Act 2001, Canstar Research 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. Canstar Research materials may be distributed to you through third party intermediaries, including advisers or mortgage brokers, or may be published on our website.

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

Canstar Research’s credit licence 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?

Canstar Research is not owned by any financial product issuer. Canstar Research may provide some product issuers with data, research, licensing, IT or consulting services for a fee.

Canstar Research is wholly owned by Canstar Pty Limited ABN 21 053 646 165 (‘Canstar’). Canstar is the majority shareholder in RateCity Pty Ltd ABN 12 122 743 542 (‘RateCity’). RateCity is a comparison website. Canstar and Canstar Research provide data and other services to RateCity.  RateCity is an Authorised Representative (AR: 1309869) and Credit Representative (CRN: 559684) of Canstar Research.

Mr Mark Gracey is Managing Director and CEO of Canstar, and a Director of Canstar Research 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. Mr Lachlan Given is a Director of RateCity.

ANZ Bank is Canstar group’s primary banker.  All dealings with ANZ in this capacity are managed by Canstar’s corporate office and the banking relationship has no influence on Canstar Research’s research or ratings. 

Staff remuneration, commissions and other benefits

Canstar Research employees receive a salary and do not receive remuneration, commissions or other benefits from any products 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 and credit service?

Canstar Research will receive a flat periodic fee from its Authorised Representatives

• Canstar Pty Limited (AR 443019) and (CRN 538715);
• Data Distribution and Marketing Pty Limited (AR 420360) and (CRN 553565); and
• RateCity Pty Limited AR 1309869 and CRN 559684

for the provision of research services which are commercialised by them.

Canstar Research may also receive fees in relation to the following:

1. Web delivery of data services – Customers may pay fees to Canstar Research for the provision of product data and associated delivery interface.
2. Commissioned Research – Canstar Research may charge fees negotiated on a case by case basis for discrete research products or projects.  For most projects Canstar Research will agree the fee prior to commencement. Project fees will be based on any one or more of:

o    the time the consulting work is expected to take (determined at a daily or hourly rate);

o    the complexity of the work; and

o    the purpose for which the work is intended.

Repeat projects will usually be charged on a flat fee basis.

3. Product Reviews, Media Tables and Awards – there may be a fee for this service.

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

Will anyone be paid for referring me to you?

There are no fees payable for referrals made to us.

Are there adequate compensation arrangements in place?

As required by law, Canstar Research 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 Canstar Research satisfy the requirements of section 912B of the Corporations Act 2001. Any representatives who have left Canstar Research’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 Canstar Research 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