We are bound by the Privacy Act 1988 (Cth) (‘Privacy Act’) and will protect your personal information in accordance with the Australian Privacy Principles. These principles govern how we can collect, use, hold and disclose your personal information, as well as ensuring the quality and security of your personal information.
If you would like more information about how we protect your privacy, please contact us.
About this policy
This privacy policy explains how we manage your personal information. We may provide more details on how we manage your personal information when we collect it.
What is personal information?
Personal information includes any information or opinion about an identified individual, or an individual who can reasonably be identified from their information. It remains personal information whether it is true or not and regardless of whether a record has been kept.
What information may be collected?
Depending on the products or services provided, information may include identification and contact details, date of birth, financial circumstances, transaction information, records of queries or complaints, and information required for insurance or a claim. Sensitive information is collected only where necessary for a specific product or service and with consent, subject to the Privacy Act.
Why information is collected and used
The main purpose is to provide products and services. This can include checking eligibility, helping with an incomplete application, providing and managing a service, complying with legislative or regulatory requirements, preventing fraud or harmful activity, and running the business.
How information is collected
Most personal information is collected directly from you when you apply for or use a product or service, speak with the team, visit the website, or send electronic correspondence. Information may also be collected from publicly available sources, representatives, employers, service partners, commercial information providers, insurers, re-insurers, and health care providers where relevant.
Storage and security
Information may be stored electronically in secure Australian data centres operated by external service providers, or in paper files. The source policy describes identity and access management, internal information-security requirements, employee training, monitoring, and steps to destroy or de-identify information when it is no longer required.
Disclosure and overseas recipients
Personal information may be disclosed to organisations that help provide or administer products and services, relevant financial-service organisations, professional advisers, representatives, technology providers, external dispute-resolution schemes, regulators, government agencies, and law-enforcement bodies. Information may be disclosed overseas where an overseas account provider is involved and permission has been given to make enquiries.
Marketing and electronic collection
Personal information may be used to offer products or services believed to be of interest unless you ask for this to stop. The source policy also describes electronic information collected through website use, including visit time, pages viewed, navigation, device information, location information, and IP addresses, as well as the use of cookies.
Access and correction
You may request access to the personal information held about you and ask for corrections. The source policy explains that access may involve a reasonable cost, that some access requests may be refused, and that reasons and complaint information will generally be provided where a request is refused.
Privacy concerns and complaints
To raise a privacy concern, contact Blue Ocean Wealth using the details below. The source policy states an aim to resolve complaints within 30 business days, while recognising that some matters may take longer.
Blue Ocean Wealth: 1800 303 808, enquiries@blueoceanwealth.com.au, Level 9, 492 St Kilda Rd, Melbourne VIC 3004.
Australian Financial Complaints Authority: afca.org.au, info@afca.org.au, 1800 931 678, GPO Box 3, Melbourne VIC 3001.
Office of the Australian Information Commissioner: oaic.gov.au, enquiries@oaic.gov.au, 1300 363 992, GPO Box 5218, Sydney NSW 2001.
Changes to this policy
Blue Ocean Wealth may change how personal information is handled and update this policy from time to time. For the original source wording and complete details, open the linked policy PDF.