Take a moment to read our terms and conditions.
They're important because they govern your use of the app and the website - even if we add to or change them. When we speak of the terms and conditions, sure it's all the stuff in this part of the app or website, but it's also all of the other stuff we generally put on the app and website, as well as anything we agree with any particular FirstStepper. It's all our agreement with you. That's why we call them, well, the terms and conditions!
We assume you have read and understood them. If you don't agree with all this stuff, then you're not going to be happy and it's probably better that you give FirstStep a miss. Once you're signed up, they form the contract between us.
If you have any questions, contact us!
You need to be a human to have a FirstStep account. Not a company or a trustee or a partnership or robot or anything else. You also need to be at least 18. Don't lie because we'll check! Usually everyone that meets our criteria to be a FirstStepper is accepted. But we don't need to let everyone in and we don't need to tell anyone why.
You need to be respectful when using the app and the website. To us and other FirstSteppers. Don't be rude. Don't swear. Don't break laws. Don't hack or change the app or the website. Comply with the law - the letter and the spirit. No exceptions. Contact us if you wish to link to the website site. We are not responsible for links to outside the app or the website.
We and OneVue now know a few things about you. But we don't know you that well. Nor does OneVue. Nothing available on or through the app or our website app can do anything more than give you general advice. Sure the app has asked you a few questions, but still, neither us or OneVue knows enough about you to give you personal advice, that is, advice that is based on your particular objectives, financial situation or needs. Remember, the app is a robot. It isn't pretending to give you personal advice. It can't. It won't.
And remember: risk happens. Risks can mean that you lose money as investments can go down in value. The risks associated with investing through FirstStep range from low to high - it depends on the particular mix of Investment Options which make up your FirstStep account. Changes in value can be big and can happen quickly. As a general rule, the higher the potential returns, the higher the level of risk. Neither returns nor the money you invest in FirstStep is guaranteed.
Past performance (good or bad) does not mean the same thing will happen in the future. You should not rely on past performance when making investment decisions. And no-one knows the future for sure. Remember this too, especially when thinking about what your investments are aiming to achieve - it might not happen!
Read the PDS. It explains a lot of important things about investing, including about risk.
Life Is Risky
It's risky out there in life land.
The app or website may fail or be offline, or may carry or pass on a virus or other nasty. It may not work or work properly on all devices. Changes to operating systems may cause it to stop working. Updates can take time. The Internet is not always available. Access to FirstStep depends on these things.
If you get a new device, don't forget to install the app again, and think about wiping the old one (not with a cloth - wipe its brain clean). Update when we ask you to.
Use passwords that are hard for people and machines to guess and mix them up across your apps and services. Don't share them and keep them safe. Anyone with your FirstStep log-on and password can operate your account and we won't know it's not you. If someone has your device, they may be able pretend to be you and we won't know it's not you. We will generally do what we see coming through the app or website. So long as we act in good faith, we are not responsible to you for any loss from someone else using your account. You can use the app or website to change passwords - do that regularly. If something seems wrong, contact us straight away.
Although we take steps we consider reasonable to protect information we hold, its security cannot absolutely be guaranteed. Data including log-ons and passwords can be compromised. If data is stored overseas, different privacy and other standards may apply there.
If you change your contact details - especially your email or mobile, update them through the app or website.
We do our best to make the app and the website available 42/7, but sometimes they won't be. Stuff happens - we need to do upgrades or change code for example, or things beyond our control get in the way. We will let you know in advance if we think we'll be offline for a while.
Changing Your Account
We would hate to see you go, but you can close your FirstStep account anytime! How? Just use the “Close my account” option in the app. We will stop checking your bank account for money which can be invested, we will sell investments as we need to and you will be paid your FirstStep account balance less anything else you have to pay. We are usually done in a few days and will usually have the money in your bank account a day or two later. If you close your account in the first three months we usually deduct a $3 processing fee.
Closing your account isn't the same as withdrawing all your money from your FirstStep account. Closing it is the end! Unless you actually close your account FirstStep Investments will keep checking your linked bank account for other money they can invest for you through FirstStep!
You can't transfer your account to someone else: they need to open their own account. But you can tell us if your name changes - such as if you get married. We may ask you for details and you may need to get a bank account with your new name. This can cause delays using your account. If you die or become incapacitated, we will deal with the person administering your estate or helping you. We will ask them to establish their authority, and generally we would close your account.
If your account has been inactive for a while - as a rule of thumb, 3 months or more, we can close it without asking you and if you want to become a FirstStepper again you will need to rejoin.
We can also suspend or close your account if you don't stick to the terms and conditions, and we are not responsible for loss you may suffer if this happens.
You can change your bank account - use the App.
The App And The Website And FirstStep
We are responsible for the app and the website, not OneVue. That includes gathering information about you, as well as accessing your bank account, seeing what happens there, taking out money (and handing it over OneVue to invest) and (when we get money from OneVue) putting it back there. We do this on your behalf. OneVue doesn't have anything to do with these sorts of things.
The app and the website are just the way you get to the FirstStep investment service. Which is actually a trust, or managed fund - it's described in the FirstStep product disclosure statement (and additional information booklets) (PDS). OneVue operates the FirstStep investment service and issues the PDS. They are primarily responsible for those things. But FirstStep was our idea, and we are the ones promoting it, choosing the investments and helping OneVue with some administrative things. We act for OneVue when we do these things. Read the PDS for more detail.
Your investment in FirstStep is governed by the terms and conditions described in the PDS as well as FirstStep's constitution. Those documents do change from time to time. You promise to us that you will comply with them as they may be changed from time to time.
You can only apply to invest on the basis of the current PDS. We'll send this to you before you first invest and if it changes. The PDS is always available from the app and the website, or you can contact us or OneVue. It's free.
If we materially change these terms and conditions in any way we think might not be in the interests of our users as a whole, we will tell you, beforehand if we think that it's really important, else as soon as practicable after. You should read any changes because they'll govern your relationship with us going forward. You don't need to agree to them but that will probably mean you will need to leave FirstStep or not be able to keep using it.
We can stop, change or suspend our services. We can assign our rights and novate our obligations to someone else, but we'll tell you if we do this.
Don't forget us! We understand things change but it's important to keep your details with us up to date. Especially your email, your mobile, your name or your linked account. Use the app to correct them when required.
You'll also need to give us information and sometimes documents that we ask you for to help us look after you and comply with the law, for example, verifying your identity or the source or use of invested moneys. Sometimes we might need you to communicate with us in writing or to provide certified copies of documents.
We'll usually communicate with you by email, but we might also contact you by post, phone, message or chat using the last contact details we have for you. We act on things as soon as is practicable, during Melbourne business hours, but we aren't responsible if communications sent to us don't get here, or for any corruption along the way. You should check your mail, emails and other communications regularly. If you suspect we haven't received something you sent us (for example, an email), please check with us.
We are an authorised representative of Melbourne based, Primestock Securities Limited (Primestock). They hold Australian financial services licence number 239180 and they're responsible for the financial services that we provide. Which is good.
Primestock has authorised us to do all the things we do in relation to FirstStep, including the app and website. Technically, we're allowed give general financial advice to retail clients and advise OneVue about FirstStep's investments. We also arrange for you to invest in FirstStep and we arrange FirstStep's investments- all in managed funds and securities.
Oh no! We want you to be happy. But we know that sometimes things aren't how you want them to be. If something we do does disappoint you, contact us.
If it has to do with any financial service we provide, you can also contact Primestock. They have offices at Level 17, 644 Chapel Street in South Yarra in Melbourne. You can call them on 1800 064 959 or email them at [email protected] They might ask you to put your complaint in writing. They'll try and resolve your complaint quickly and fairly.
If we or Primestock don't resolve the complaint to your satisfaction within 45 days, you can complain the Financial Ombudsman Service (FOS). FOS can be contacted on 1300 780 808, or you can write to them at GPO Box 3 Melbourne VIC 3001. Their services are free of charge to you.
Primestock has professional indemnity insurance which covers us for any errors or mistakes relating to our financial services. This insurance meets their and our legal obligations. It even covers employees after they stop working with us, as long as we tell the insurer about the claim at the right time.
Legal Things You Need To Know
We own the app and website. All ours. Each FirstStepper can (on the basis of these terms and conditions) use it for the purpose we designed it for, but we are not in any way giving you any other rights in the app or website. You can't copy any of it or do anything tricky like decompile any code. If you do, we will be very cranky.
Everything about FirstStep is Australian. It meets Australian laws. We expect you to be in Australia to use it. Using it elsewhere might be bad: other countries have laws that aren't the same as ours. Yes, we understand the way the Internet is, but that's what we ask of you. We speak Australian dollars and figures include GST. Examples are not exhaustive.
Unless the law requires us to verify them, we may take and act (or not) on any information and documents you or anyone else provide to us which we have no reason to doubt are authentic, accurate or genuine.
To the extent that the law allows, any obligations that aren't in these terms and conditions but might otherwise be implied or imposed on us by law or equity in relation to the app and website are expressly excluded and, our liability to you is limited to the re-supply or the payment of the cost of having the services supplied again. Never ever will we be liable for special or consequential damages or anything beyond our reasonable control.
You indemnify us (and those who work for us and help us) against all loss you cause us and them.
These terms and conditions are governed exclusively by Victorian laws and courts - you waive any rights to have a matter heard anywhere else.
Download the FirstStep App
Apple App Store
Google Play (coming soon)
Visit the website getfirststep.com
Contact FirstStep Investments
FirstStep Investments Australia Pty Ltd
ACN 612 834 947
Authorised representative number 1251897
Date: 25th March 2017