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Rivkin Securities Terms and Conditions

Last updated: 7 January 2019

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ABN: 87 123 290 602

AFS License no: 332 802

Rivkin Securities Pty Ltd

Suite 8, 1 Kings Cross Road

Rushcutters Bay NSW 2011

Telephone: +61 2 8302 3650

Facsimile: +61 2 8302 3601

Web: www.rivkin.com.au

THIS AGREEMENT: is made on the Commencement Date.

BETWEEN: Rivkin Securities Pty Ltd (“Rivkin Securities”) ACN 123 290 602

AND: The entity whose name, Australian Business Number (if any) and address or registered office details are set out in the

associated Rivkin Securities application form(s) (“Client”)

RECITALS

The Client wishes to appoint Rivkin Securities to provide general advice and dealing services on its behalf.

THE PARTIES AGREE

1. DEFINITIONS AND INTERPRETATION

1.1 In this Agreement (including the recitals) unless the context otherwise requires:

a. “Agreement” means this Agreement and any document that varies or supplements it;

b. “Application Form(s)” means the joint, individual, company and/or trust Rivkin Securities application forms relating to the opening of a Rivkin Securities trading account

c. “Business Day” means any day other than a Saturday, Sunday or Australian Government gazetted public holiday as defined by the ASX Business Rules;

d. “Broker” means any participant of various exchanges that Rivkin Securities may have relationships with in order to offer General Advice and/or Private Client Execution Services to Private Clients;

e. “Brokerage Payment” means the amount determined under section 7.4;

f. “Commencement Date” means the date outlined in the client agreement on the associated Rivkin Securities application form(s);

g. “Derivative” has the meaning provided for it in the Corporations Act as amended by the Financial Services Reform Act 2001.

h. “General Advice (GA)” means general advice as defined in Section 766B(3) of the Corporations Act 2001 (Cth) being financial product advice that does not take in account your personal objectives, needs or financial situation.

General advice may be provided to you by Rivkin Securities through its website or by any other means (whether oral, electronic in writing or otherwise);

i. “GST Act” means in a New Tax System (Goods and Services Tax) Act 1999;

j. “Terms and Conditions” means the agreement between Rivkin Securities and the Client under which the Rivkin Securities will provide their services to the Client;

k. “Private Client Execution Service” (PCES) means the method (whether electronic (including Technology), oral or written) by which Rivkin Securities receives instructions and collects orders from the Client and then on behalf of

the Client will sell or buy a financial instrument and/or amend or cancel an order;

l. “Security” has the meaning provided for it in the Corporations Act as amended by the Financial Services Reform Act 2001.

m. “Settlement Period” means settlement at the time of the transaction or in accordance with the terms and conditions of the exchange that the Financial Instruments are being traded on.

n. “Technology” means any electronic systems used by to provide advisers with specific information about Clients, their holdings or automatic trading alerts, as part of the Private Client Execution Service;

1.2 References to recitals, clauses, sub clauses, paragraphs, annexures or schedules are references to recitals, clauses, sub clauses, paragraphs, annexures and schedules of or to this Agreement.

1.3 Headings in this Agreement are for convenience only and do not affect its interpretation or construction.

1.4 In this Agreement unless the context otherwise requires:

a. the singular includes the plural and vice versa;

b. each gender includes the other two genders;

c. the word “person” means a natural person and any association, body or entity whether incorporated or not;

d. the word “month” means calendar month and the word “year” means 12 calendar months;

e. a reference to writing includes any communication sent by post or facsimile transmission;

f. where any word or phrase is defined, any other part of speech or other grammatical form of that word or phrase has a cognate meaning;

g. a reference to any statute, proclamation, rule, code, regulation or ordinance includes any amendment, consolidation, modification, reenactment or reprint of it or any statute, proclamation, rule, code, regulation or ordinance replacing it;

h. all monetary amounts are in Australian currency;

i. a reference to time refers to time in Sydney, Australia;

j. “Associate” has the same meaning given by Section 318 of the Income Tax Assessment Act 1936 (Cth) or any section amending or replacing such provision;

k. “Business Day” means a day other than a Saturday, Sunday or public holiday in New South Wales;

l. mentioning anything after “include”, “includes” or “including” does not limit what else might be included;

m. no rule of construction applies to the disadvantage of a party because this Agreement is prepared by (or on behalf of) that party;

n. a reference to any thing is a reference to the whole and each part of it;

o. a reference to a group of persons is a reference to all of them collectively and to each of them individually;

p. “company”, “corporation” and “body corporate” have the meanings respectively provided by Chapter 1 of the Corporations Law.

Trading and Performance Policy

Last updated: 7 January 2019

Download in PDF Format

ABN: 87 123 290 602

AFS License no: 332 802

 

Rivkin Securities Pty Ltd

Suite 8, 1 Kings Cross Road

Rushcutters Bay NSW 2011

Telephone: +61 2 8302 3650

Facsimile: +61 2 8302 3601

Web: www.rivkin.com.au

 

In order to create alignment between the investment outcomes of Rivkin and its clients, we invest the majority of our money in Rivkin’s retail and wholesale investment strategies. In fact, there is not one trade that Rivkin places on its proprietary accounts that has not already been placed on a client account. As a result of this methodology, Rivkin is able to demonstrate ‘real’ performance results, because we place the same trades and pay the same fees as our clients, giving us the ability advertise honest, net performance figures after all the costs of trading. This type of performance methodology came into effect on 1 April 2013.

In this document you’ll find everything you need to know about how Rivkin calculates its performance and puts its money where its mouth is by trading ‘alongside’ its members.

 

Rivkin performance methodology

 

PHILOSOPHY

Rivkin runs Model Portfolios for members to follow if they wish, one for each of our nine strategies, in such a way that each member can choose their weighting to each strategy.

  1. The first strategy is the ASX Event Strategy which looks to capitalise on specific ‘events’ that we believe provide a low-risk catalyst from which we can profit in a relatively short period of time. Typical examples are takeovers and buybacks.
  2. The second strategy is the ASX Income Strategy which focuses on those securities that pay a high coupon or dividend. These may be in the form of debt, preference shares or other securities that generally have a relatively high amount of income and relatively limited capital growth.
  3. The third strategy is the ASX Blue Chip Strategy which is a low-maintenance, long-term strategy that invests in the highest yielding blue-chip stocks for 12 months at a time, which has produced significant outperformance since we started using the strategy in 2008.
  4. The fourth strategy is the ASX Momentum Strategy which revolves around selecting the highest momentum stocks, based on price, from the ASX 100 index.
  5. The fifth strategy is the ASX Value strategy which seeks to select the top 10 stocks from the ASX 200 index based on a number of fundamental criteria.
  6. The sixth strategy is the US Momentum strategy which chooses the 10 highest momentum stocks, based on price, from the S&P 500 index.
  7. The seventh strategy is the US Value strategy which selects the 10 best stocks from the S&P 500 index based on a number of fundamental criteria.
  8. The eights strategy is the US Long/Short strategy which seeks to profit from trading opportunities in any direction using both long and short trades. This strategy is designed to produce reduced volatility during weak markets.
  9. The ninth strategy is the FX and Liquid Markets strategy which seeks to profit from trading opportunities on a range of currency pairs as well as some commodities.

The performance of each strategy is tracked through its respective model portfolio. Overall performance of a group of strategies can be produced by combining the performances of each respective model portfolio in the appropriate weights.

IMPLEMENTATION

On 1 April 2013, Rivkin deposited $300,000 cash into a Rivkin Securities stockbroking account, paying retail rates of brokerage. From this point onward, our performance figures that contribute to the track record have been recorded on a ‘real’ basis, whereby only the net profit and loss (after all costs of trading) is used to attribute Rivkin performance to our advertised statistics. Following the initial account creation, the amounts invested were adjusted at various times as a result of new strategies being added/removed.

Prior to 1 April 2013, Rivkin Local used a theoretical account, recording profits and losses for the trades that members were able to get in and out of, and removing the cost of brokerage from those figures.

We combine these two figures to advertise our long-term track record, which dates back to 1997. It is our aim to one day rely only on actual recorded net profit on our live model account; however, the current period of time we have to calculate the results that come from our live account is not long enough to satisfy what a reasonable prospective member may expect in terms of a time horizon for a track record.

 

Financial Services Guide

Last updated: 7 January 2019

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This Financial Services Guide (FSG), dated 7 January, 2019, is designed to assist you in deciding whether to use any of the financial services offer by Rivkin Securities Pty Ltd (AFSL 332802). Rivkin Securities may be referred to within this document by the registered trading names Rivkin, Rivkin Super or simply by the use of the words ‘us, we or our.’ Any Rivkin FSG dated prior to 7 January, 2019, is replaced by this document.

The purpose of the FSG is to explain:

• What type of advice you might receive from us;

• How you can give us instructions;

• The kinds of financial services that we provide and the financial products to which those services relate;

• Who we act for in providing financial services;

• Risks involved when using financial products and services;

• How we, our staff and other relevant persons are paid for the financial services offered;

• The associations or relationships between us and any related persons and issuers of financial products

• that might influence how we provide financial services;

• How complaints against us are dealt with; and

• Where to find Rivkin’s Privacy Policy

What type of advice you might receive from us

We are licensed to offer general financial advice only. We do not provide, and are not licensed to provide, personal financial advice to our clients. Any general financial advice that we provide has been prepared without taking into account any of your personal investment objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs.

There may be a product disclosure statement or prospectus, terms and conditions, an outline of fees as well as a document outlining specific risks for the securities and financial products discussed by our staff members or communicated via written, verbal or electronic means. The purpose of these documents is to provide you with information about the particular product to enable you to make an informed decision in relation to the acquisition of that product. You should obtain a copy of the product disclosure statement, prospectus or related product or service documents before making any decision about whether to acquire the security, product or service.

How you can give us instruction

We accept instructions from you in person, by telephone, facsimile, post or by email. If you are dealing securities or derivatives online using Rivkin, your instruction will be taken using an online third-party broking platform.

The kinds of financial services that we provide and the financial products to which those services relate

For retail and wholesale clients, we are authorised to carry on a financial services business to:

• Provide general financial product advice on: deposit and payment products; derivatives; interests in cash management trusts; superannuation; margin lending facility; foreign exchange contracts; and securities.

• Deal in a financial product by: issuing, applying for, acquiring, varying or disposing of a financial product in respect of derivatives; applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of basic deposit products and deposit products other than basic deposit products, derivatives, interests in cash management trusts, superannuation; margin lending facility; foreign exchange contracts; and securities.

Who we act for in providing financial services

We act for you on our own behalf when we provide the financial services detailed above and not as an agent or representative for anyone else.

Risks involved when using financial products and service

The securities and derivatives that Rivkin Securities is licensed to advise and deal in include: ASX-listed equities (or shares), exchange-traded options, warrants and contracts for difference (CFDs). All of these types of securities and derivatives carry financial risks.

Fully-paid ASX equities may lose up to 100% of their initial purchase value, or 100% of your initial investment. Certain types of ASX equities and ASX warrants can also carry a future liability, meaning you might be required to contribute future payments under the terms of the security being traded.

Certain exchange-traded options strategies can lose value by a sum greater than your initial investment. CFDs are considered risky products. Most CFD products are leveraged, meaning that your total trade exposure is greater than your initial investment. In most cases, your total trade exposure is many times greater than your initial investment. This means that you can lose more than your initial investment.

How we, our staff and other relevant persons are paid for the financial service offered

Rivkin Securities and its staff are remunerated in the following ways:

1. Dealing: Transactions in securities and derivatives such as shares and CFDs are conducted by our third party broking partners. In most cases, these broking partners will rebate Rivkin Securities fees, interest, financing, spreads and commissions that are paid by Rivkin clients when dealing in securities and derivatives. For example, a Rivkin dealing client might purchase shares that incur a brokerage fee of $20; up to 100% (or in this case $20) of this fee may be rebated to Rivkin.

2. Advice: Clients gain access to general advice by purchasing Rivkin strategies. These are available via a monthly membership fee of between $89 and $139, depending on the bundle selected.  In addition, various discounts are available for pre-payment and vary by length of term. For example, a Rivkin ASX Bundle customer will pay $89 per month to access advice across five strategies, however, if pre-payment for 12 months is made, the monthly equivalent fee is $80 or for 36 months pre-payment, the monthly equivalent fee is $60.

3. Administration: Rivkin Super clients pay establishment and ongoing fees in exchange for the setup and administration of self-managed superannuation funds. The minimum establishment fee is $700 and the minimum ongoing fee is $2,450 per annum charged monthly. For example, a Rivkin Super client receiving a standard service might pay $700 in establishment fees and then $204.16 per month for the life of the service.

4. Deposit products: Cash management accounts, cash management trusts and money market accounts associated with dealing and administration products and services may pay a rebate to Rivkin based on the client’s cash deposit. For example, if a client deposits $10,000 in an account to trade shares, the bank may pay Rivkin a percentage of the interest earned on that account of between 0 and 3%. On $10,000 this would be $300.00 on an annualised basis.