Terms and conditions

Declarations and acknowledgements

  • By submitting your application for a Panorama Super account you confirm that you have received and read:
    • The Panorama Super Product Disclosure Statement (‘PDS’) including the Additional Information Booklet and relevant Investment Options Booklet,
    • The Panorama Financial Services Guide, and
    • If you are applying for insurance through Panorama Super, the product disclosure statement and policy document issued by the insurance provider.
  • You can confirm that you are either:
    • Within Australia at the time of submitting your application and were in Australia when you received the Panorama Super disclosure documents noted above; or
    • Overseas and you have appointed an Australian resident attorney and instructed them to apply for a Panorama Super account on your behalf.
  • If you are overseas at the time of application, or if you leave Australia either temporarily or permanently after your Panorama Super account has been opened, you confirm that you have or will obtain advice about any local restrictions that apply before applying for, continuing to invest in or transacting through Panorama Super.
  • You agree to be bound by the governing rules of the Panorama Super Plan, which are contained in the Trust Deed for Asgard Independence Plan – Division 2 (as amended from time to time), disclosure documents for the product and relevant law. You also agree to be bound by the terms and conditions of any insurance policy issued to you in connection with your Panorama Super account.
  • You confirm that the information you provide in your application and in any other documents provided for the purposes of your application is true and correct to the best of your knowledge and belief.
  • You agree to receive all correspondence relating to your account electronically, including annual reports, annual statements, transaction confirmations, Product Disclosure Statements, other disclosure documents, product updates and information about available investments. Electronic communications include sending you the relevant correspondence via email, by making it available to you at panorama.com.au or in any other way described in the latest PDS for Panorama Super.
  • You acknowledge and agree that BT Funds Management Limited ABN 63 002 916 458 (‘Trustee’, ‘we’, ‘us’) and other parties (including related parties, such as BT Portfolio Services Limited ABN 73 095 055 208, (‘Administrator’, 'BTPS')) may receive payments by way of fees or other forms of remuneration for services provided in respect of Panorama Super and/or the investment options made available through Panorama Super. By opening an account and investing in such investment options you agree to pay any relevant fees or charges associated with the account/investment option. Such fees or charges will be disclosed to you from time to time (e.g. in the PDS). 
  • You understand that correspondence sent by you or your adviser will be stored by the Administrator together with any notes made on discussions you have with the Administrator over the telephone.
  • You agree to maintain a valid email address and mobile number in relation to your account and to notify the Administrator of any changes to your details as soon as possible.
  • You acknowledge and agree that where an investment option is or becomes illiquid, suspended or has withdrawal restrictions, your rollover will not be completed until the funds from that investment are received.  
  • You agree that any instruction we receive from your appointed adviser or representative is taken to be an instruction from you and the Trustee will not be liable for following such instructions. You agree to notify the Trustee as soon as possible if you change or terminate your relationship with your adviser or representative. Until we receive such notice from you, we will continue to act on your adviser’s or representative’s instructions.
  • You acknowledge that in certain circumstances, the Trustee will not act on instructions from you or your adviser/representative (see ‘When instructions will not be acted on’ in the Additional Information Booklet) and in these circumstances the Trustee will not be liable for losses you incur by not carrying out those instructions.
  • You acknowledge and agree that you will have a single user profile when investing in one or more products on BT Panorama (such as superannuation or investment products).

Linked accounts – Direct Debit Request Service Agreement (DDRSA)

  • By nominating linked account(s) as part of this account application or by adding linked account(s) to your Panorama Super account, you request and authorise BTPS (APCA 509502) to arrange through its own financial institution, a debit to your nominated linked account(s) any amount BTPS has deemed payable by you.
  • For each linked account, this debit or charge will be made through the Bulk Electronic Clearing System (BECS) from this account held at the financial institution you have nominated and will be subject to the terms and conditions of the Direct Debit Request Service Agreement (DDRSA) as set out in the Additional Information Booklet.
  • By approving this account application and/or providing a valid instruction in respect of this Direct Debit Request, you understand and agree to the terms and conditions governing the debit arrangements between you and BTPS as set out in this request and in the DDRSA.
  • You confirm that you have read and agree to the terms of the DDRSA. 
  • You confirm that you are the account holder or authorised signatory in respect of the nominated account. 

Advice fee client consent declaration 

If your adviser or your adviser’s licensee (‘advice entities’) is requesting your consent to arrange an advice fee deduction from your Panorama account for their advice and related services, by approving this application, you agree to the following:

  • I confirm that the proposed advice fee/s and details are consistent with the terms of the arrangement between me and the advice entities and there is no other agreement or arrangement with the entities that may be inconsistent with these details. If there are inconsistencies between the existing arrangement and the details in this form, the latter prevails.
  • I consent to the advice entities arranging, and the Trustee deducting, the fee from my Panorama Super account to pay the advice entities or another entity assigned to provide these advice and related services.
  • I consent to the Trustee paying the advice fee and releasing my account information to the entity if that entity has been assigned to provide these advice and related services.
  • I will notify the Trustee as soon as possible if I do not receive any of the services, or an inconsistency arises between the details provided and the terms of the arrangement I have with the advice entities.
  • If an advice entity assigns its rights under the relevant fee arrangement to another entity (‘assignee’), I authorise the Trustee to pay the advice fee/s to the assignee on the basis that the assignee will assume the obligation to provide advice and related services to me/us.
  • I understand that the Trustee reserves the right to cease deducting or facilitating the advice fee at any time and will exercise this right reasonably, for instance to protect the interests of members/investors.
  • I understand that for an establishment fee, my consent will last until the fee is deducted from the account. Deduction will occur after this consent has been received, checked by the Trustee (if not approved online) and the account is funded. If my account is not funded within 90 days of the date that consent has been processed by the Trustee, this consent will expire on that date. 
  • I understand that where this consent is for an ongoing advice fee, the fee will only be payable up to the end of the month prior to the consent expiry date, unless the consent expiry date is the last day of the month in which case the fee will be payable up until the consent expiry date.
  • I understand that where this consent is for a fixed term advice fee, the fee will be paid up to the end of the month nominated as the fixed term advice fee end date. If the fee is ended early, no fee will be payable for the month that the fee ended.
  • I understand that fixed term and ongoing advice fees are deducted monthly in arrears from my transaction account generally in the first week of the following month. The first deduction will occur after consent is received by all relevant approvers and checked by the Trustee (if not approved online), and when the account is funded provided that the relevant arrangement with the advice entities has not terminated or I have not withdrawn this consent. For both fixed term and ongoing advice fees, the first month's fee will only be charged for the number of days the account is funded. Additionally, for ongoing advice fees, my consent must be received by the Trustee within 30 days (applicable if not approved online) and deduction will only occur after the commencement month is reached.
  • I understand I can withdraw my consent by contacting the Trustee before the fee is deducted from the account for an establishment fee and for a fixed term advice fee, or by providing notice in writing to the fee recipient at any time for an ongoing advice fee.

Managed Discretionary Account (MDA) client declaration

Where you have been provided with managed discretionary account (MDA﴿ services through either your adviser’s dealer group or another provider ﴾MDA provider﴿, you agree and acknowledge the following:

  • The MDA provider is identified as the provider of MDA services in any communication or notice provided by your adviser or MDA provider to the Trustee and/or Administrator from time to time;
  • You have granted to the MDA provider a power of attorney to provide instructions in relation to your Panorama Super account, including (for example) investment or withdrawal instructions on your behalf to the Administrator as the administrator of Panorama Super;
  • The Trustee and/or Administrator may act on all instructions provided by the MDA provider in relation your Panorama Super account as if you had given those instructions myself and you will be bound by all instructions the Trustee and/or Administrator receives from the MDA provider in relation to your Panorama Super account;
  • The MDA is separate to BT Panorama, and neither the Trustee nor the Administrator provides, or is responsible for, any MDA services that may be provided to you by the MDA provider;
  • The liability of the Trustee, the Administrator, Westpac Banking Corporation ABN 33 007 457 141 ("Bank") and their respective officers and agents, is limited to the full extent permitted by law (except to the extent such damages, liabilities, costs or expenses are caused by the negligence or default of the Trustee, the Administrator, the Bank or their respective officers or agents) arising directly or indirectly from or in connection with any act or omission by the MDA operator. Neither the Trustee, the Administrator nor the Bank or their respective officers or agents act on behalf of the MDA Operator. 
Powered by