We provide budgeting and cashflow tracking training and Virtual Moneysoft Support to Financial Professionals and their clients (Individuals) using online courses and via our Moneysoft white labelled software (https://yscprofessional.moneysoft.com.au/).
Whether you are an individual or a financial professional, we are committed to protecting your privacy in accordance with the Privacy Act 1988 (Cth). This policy describes how we currently collect, handle, use and disclose personal information. It also deals with how you can complain about a breach of the privacy laws, how you can access the personal information we hold about you and how to have that information corrected.
We do not need to collect sensitive information about you and we will not do so unless we are required to do so by law or unless you provide consent. Sensitive information includes information about your race or ethnicity, political opinions, religious beliefs, criminal record, sexual information, health or biometric information. We will not collect your tax file number.
We will not destroy or de-identify any personal information that is provided to us.
The personal information we collect and hold – Individuals
When you visit our website or use our services, we only collect personal information about you that you provide to us.
Individuals can only register for our services via an invitation from a Financial Professional. When you register, we ask you for your first and last name and email address.
You do not have to give us your real first and last name; you can choose to remain anonymous by giving us a pseudonym (you will remain anonymous unless of course identity information such as your name is in your email address or is in your financial information).
The personal information we collect and hold – Financial Professionals
When Financial Professionals register for our services we also ask for your business name, phone number, business address, ABN or ACN.
How we collect your personal information
Generally, we collect your personal information by the following means:
Directly from you, Individuals and Financial Professionals may provide us with their personal information in a number of ways including:
If you subscribe to our email list, or when registering for our online course (Your Spending Coach) or virtual Moneysoft support services (e.g. if a Financial Professional asks us to prepare and manage Moneysoft on behalf of their Individual clients). Although we do not intend to collect personal information from an individual’s financial accounts, it is possible that in some circumstances, financial account information may contain personal information.
When individuals register for our services, you do not have to give us your real name. You do have to give us a valid email address in order to register for our services. Provided you are not reasonably identifiable from your email address (or any other information we collect), you can remain anonymous.
Although financial professionals are not required to give us a real name, you have to give us your company name and ABN or ACN, and email address and so you cannot remain wholly anonymous.
The purposes for which we collect, hold and use and disclose your personal information
The main purposes for which we collect, hold, use and disclose your personal information are:
As required by relevant laws, regulations and codes.
We also use your information to manage your ongoing requirements and our relationship with you. We will generally communicate with you electronically, unless you tell us that you do not wish to receive electronic communications.
Who we may disclose your personal information to
Other than the following, we do not sell, license or redistribute your personal information to others. We may disclose your personal information to:
Aggregated information only contains anonymised personal account information or data; i.e. it does not contain information that could be used to identify an individual. Examples of aggregated information might include the number of people who use our services and the type of accounts and number of accounts in use with our services.
We may use, redistribute and disclose non-sensitive, non-personal, aggregated information obtained in relation to our services to third parties such as other users of the service who want to compare their information to the community of users.
Some of our outsourced service providers are located overseas. We use the following providers:
We do not intentionally disclose personal information to an overseas service provider, but it may happen if personal information is in an individual’s name and email address they use to subscribe to our service, or in an account name or transaction records or account access information.
How we hold and protect personal information
We strive to maintain the relevance, reliability, accuracy, completeness and currency of the personal information we hold and to protect its privacy and security. We keep personal information only for as long as is reasonably necessary for the purpose for which it was collected or to comply with any applicable legal reporting or document retention requirements.
We hold the personal information we collect in physical and electronic records. We maintain physical, electronic and procedural safeguards to guard it.
How long we keep information for
Individuals and Financial Professionals can delete their personal information at any time. Simply contact us via email and we will remove any information we have from our database. Once information is deleted, this action cannot be reversed, as the information is erased.
We may keep aggregated information that does not contain personal information. More information about this is given above.
Notifiable Data Breaches
Your Spending Coach complies with the requirements of the Privacy Amendment (Notifiable Data Breaches) Act 2017. In accordance with this Act, where we are aware of any instance of a data breach, we shall immediately take steps to contain and remediate the data breach as well as undertake a reasonable and expeditious assessment to determine if the data breach is likely to result in serious harm to any individual affected.
Where the assessment presents reasonable grounds to believe an eligible data breach has occurred, we will promptly notify individuals at likely risk of serious harm. The Commissioner shall also be notified as soon as practicable through a statement about the eligible data breach.
The notification to affected individuals and the Commissioner shall include the following information:
A full review will be conducted to evaluate the cause of the data breach, the success of our response and to identify and implement improvements to prevent or minimise the risk of future data breaches.
Web and mobile data
We use technology to collect anonymous information about the use of our website and mobile app, for example when you browse our website, our service provider logs your server address, the date and time of your visit, the pages and links accessed and the type of browser used. It does not identify you personally and we only use this information for statistical purposes, to improve the content and functionality of our website, to better understand our clients and markets and to improve our services.
We use “cookies” to collect this anonymous data. Cookies are small pieces of information which are sent to your browser and stored on your computer’s hard drive. Sometimes they identify users where the website requires information to be retained from one page to the next. This is purely to increase the functionality of the site. Cookies by themselves cannot be used to discover the identity of the user. Cookies do not damage your computer and you can set your browser to notify you when you receive a cookie so that you can decide if you want to accept it, they allow the website to recognise your computer when you return in the future.
Services offered by third parties
Access and correction
If you can show that that the personal information we hold about you is not complete and up to date, we will take reasonable steps to ensure it is accurate, complete and up to date.
If you wish to access or correct your personal information please write to:
The Privacy Manager
Experience Wealth Pty Ltd t/as Your Spending Coach
Suite 311, Level 3 / 120 Bay St
Port Melbourne VIC 3207
Alternatively, please email us at email@example.com or phone us on 03 9646 5252 (in Australia).
We do not charge for receiving a request for access to personal information or for complying with a correction request.
If you are concerned about how your personal information is being handled or if you have a complaint about a breach by us of the Australian Privacy Principles, please contact us.
We will acknowledge your complaint as soon as we can after receipt of your complaint. We will let you know if we need any further information from you to resolve your complaint.
We aim to resolve complaints as quickly as possible. We strive to resolve complaints within five business days but some complaints take longer to resolve. If your complaint is taking longer, we will let you know what is happening and a date by which you can reasonably expect a response.
If you are unhappy with our response, there are other bodies you can go to.
The Financial Ombudsman Service (FOS) can consider most privacy complaints involving providers of financial services.
FOS can be contacted at:
Financial Ombudsman Service
GPO Box 3 Melbourne VIC 3001
Phone: 1300 78 08 08
Under the Privacy Act you may complain to the Office of the Australian Information Commissioner about the way we handle your personal information.
The Commissioner can be contacted at:
GPO Box 5218
Sydney NSW 2001
Phone: 1300 363 992
Tell us what you think
We welcome your questions and comments about privacy. If you have any concerns or complaints, please contact the Privacy Manager at the contact details given above.
Meaning of words
“We”, “Us” or “Our”
means Experience Wealth Pty Ltd ABN 95 132 046 354 trading as Your Spending Coach.
means any data inputted by You or with Your authority into the Website.
“Virtual Moneysoft Support”
means the provision of outsourced Moneysoft ongoing personal financial (spending, savings, budgeting and cashflow) coaching (as may be changed or updated from time to time by Us) made available to You by Us
means the Individual or Financial Professional and where the context permits “Your” has a corresponding meaning.