General

We provide you functionality to carry out the investment decisions you believe are right for you. As a result, you use the site at your own risk. To the maximum extent permitted by law, no member of Pearler or any of their directors, employees, agents, related bodies, third party content providers, licencees or licensors makes any express or implied representation or warranty about, or will be liable, in contract, tort (including negligence) or otherwise, for any direct, indirect, special or consequential loss, damages or reliance in connection with, the site, its use, its content or any products or services (including our products or services) referred to on the site. This includes (but is not restricted to) loss or damage you might suffer as a result of any of the following:

Access

We may suspend or remove access to the site at any time. We are not liable, for any reason, if the site is unavailable or any functionality of the site is restricted or impaired.

No Advice

The site has been prepared for general promotional purposes only and is not a recommendation to buy, or an offer or solicitation to sell, any financial product.

The site is intended to provide general information and must not be construed as general or specific investment or professional advice. No direct or implicit recommendations are given in the information on the site.

The site has been prepared without taking into account the personal objectives, financial situation or needs of any particular person.

We recommend you obtain financial advice specific to your situation before making an investment decision.

Exclusion of implied warranties

To the maximum extent permitted by law, we exclude all warranties that otherwise would be implied in any transactions for the supply by us of information, products or services offered on the site (including warranties of satisfactory quality, merchantability and fitness for purpose).

Limitation of our liability (if any) to you

To the maximum extent permitted by law, our total liability to you (if any) for loss, damage or reliance will be limited, at our election, to:

You agree to provide true, accurate, current and complete information about yourself and your accounts maintained by integration partners such as OpenMarkets, Zepto, CurrencyCloud, DriveWealth or any other partners we have and you agree to not misrepresent your identity or your account information held with these integration partners.

Any personal information collected by us (in connection with the site or otherwise) will be dealt with in accordance with our Privacy Policy.

You agree that we may collect and use technical data and related information, including but not limited to technical information about your smartphone and other hardware devices, and your systems and other application software, to facilitate the provision of software and other updates to the site. We do not sell your information to anyone.

We work with third parties who hold your monies on your behalf, while you always remain the beneficial owner. We use a cashless payments provider (currently Zepto Payments Pty Ltd) that allows us to identify you with a unique account number and PayID for immediate transfers. This facilitates a ledger to demarcate funds held on behalf of our customers, meaning at all times your money is linked safely to your account. This account is used for Direct Debits, PayTo, transfers from and withdrawals to your bank accounts as well as to settle your investment instructions for products offered by Pearler. We delve deeper into this in the sections below.

For any money that is held awaiting your instructions on an overnight basis or longer as the case may be, this is held by our licensee, Sanlam Private Wealth with National Australia Bank in accordance with Subdivision A of Division 2 of Part 7.8 of the Corporations Act, on terms contemplated under section 981A of the Corporations Act, on behalf of you.

We have an additional NAB trust account to hold your funds awaiting investment and have appointed Perpetual Corporate Trust Limited (“Perpetual”) as custodian to open the bank account and act on the instructions from us in relation to the movement of funds. Perpetual's role is limited to holding assets of the trust as agent of Pearler. Perpetual has no supervisory role in relation to the operation of the trust and is not responsible for protecting your interests. Perpetual has no liability or responsibility to you for any act done or omission made in accordance with the terms of the custody agreement.

Pearler works with third parties to offer the payments and trust account structure with the aim of making your investing experience as simple, safe and cost-effective as possible. We do not charge or pass on any account keeping fees.

Any interest earned on the trust account is paid to the third-party licensee, custodian or agent as the case may be, to cover the cost of operating the bank accounts and obligations. Pearler may enter into sub-agreements with those third-parties to retain surplus interest to cover the costs of providing payments processing and associated operating purposes. Neither third-party or Pearler has an obligation to pass this interest onto you.

By holding or depositing money using Pearler you agree and acknowledge that Pearler has the appropriate instructions and approvals to process your payments between our payments and banking providers for the necessary functioning of our app or service.

Separate to how your money is processed and held, we take steps to ensure Pearler’s business operations are not commingled in any way. In fact, Pearler’s operational cash is held by another banking institution and we have the technology, policies and procedures in place to ensure your monies and your data are safe.

Pearler does not hold any ‘Client Money’ as per- Subdivision A of Division 2 of Part 7.8 of the Corporations Act applies, on terms contemplated under section 981A of the Corporations Act on behalf of its clients.

Under no circumstances can we use your funds for Pearler’s operational purposes.

Pearler provides users the ability to set rules to pull monies from their designated bank account at set intervals for a set number of occasions (Direct Debit Instructions).

By setting these rules you are confirming to Pearler that you agree to the Zepto Direct Debit terms. Upon confirmation by you, Pearler presents a copy of the Direct Debit Instructions to Zepto.

Pearler reserves the right to present the Direct Debit Instructions and complete the Transaction up to three business days after the instructed calendar day for various reasons such as, but not limited to, the instructions falling on a weekend.

You can cancel Direct Debit Instructions at any time (Direct Debit Cancellation). Pearler will endeavour to present to Zepto the Direct Debit Cancellation prior to the next interval, however, please note that Pearler requires at least 2 business days notice to present to Zepto in order to cancel the next Transaction.

By providing Direct Debit Instructions you are acknowledging that, despite Pearler’s best endeavours to present a Direct Debit Cancellation to Zepto the Transaction may still occur. Should this occur, you will be able to request that the Transaction be dishonoured via your designated bank account or, if the funds are cleared in your Pearler account, make a withdrawal request via the Pearler website. You agree that Pearler is not liable for any cost charged by your designated bank or by any other party as a result of a Transaction that occurs after a Direct Debit Instruction.

You agree that any Autodeposit amount not immediately invested may be transferred to our other client trust account as described in Section 4 above.

Pearler provides users the ability to set rules to buy dollar amounts of securities or managed funds at set intervals for a set number of occasions (Autoinvest Instructions).

By making an Autoinvest Instruction you are agreeing to deposit sufficient funds in accordance with the instructions via the Autodeposit process and also make Direct Debit Instructions as a component part of your Autoinvest Instructions.

By setting these instructions you are confirming to Pearler that you agree for Pearler to provide instructions to OpenMarkets, Drivewealth or Cache / Melbourne Securities (our managed funds provider) in accordance with their terms. Upon confirmation by you, Pearler will instruct OpenMarkets or Cache / Melbourne Securities to purchase at market price an amount of securities or units that is equal to or less than the dollar amount provided in your Autoinvest Instructions inclusive of brokerage costs and subject to your available balance at each interval.

Pearler will endeavour to present to OpenMarkets, Drivewealth or Cache / Melbourne Securities the Autoinvest Instructions on the calendar days or the next business day provided in your Autoinvest Instructions (the Autoinvest Transaction). Pearler reserves the right to instruct OpenMarkets, Drivewealth or Cache / Melbourne Securities to make the Autoinvest Transaction up to 3 business days after calendar day instructed.

Pearler endeavours to provide Autoinvest Transaction instructions at set times during a market day for the purposes of avoiding times that have historically been shown to present higher volatility, for example at market open or in the last 30 minutes of market trade. Pearler reserves the right to provide instructions to OpenMarkets, Drivewealth or Cache / Melbourne Securities at any time.

You can cancel Autoinvest Instructions at any time (Autoinvest Cancellation). Pearler requires at least 2 business days’ notice to cancel the next Autoinvest Transaction.

By providing Autoinvest Instructions you are acknowledging that, despite Pearler’s best endeavours to cancel the next Autoinvest Transaction, it may still occur. You agree that Pearler is not liable for any cost or loss incurred by you as a result of an Autoinvest Transaction that occurs after an Autoinvest Cancelation request is made.

The site, blogs and customer emails may contain links to other sites. You agree that:

As at the date of this update, the following service providers are whom we receive a fee or commission from, if you choose to use a paid service or tool:

You acknowledge that any third party materials appearing on the site (including blog posts or articles provided by others) are not necessarily controlled or monitored by us and that the views expressed are not necessarily ours.

Copyright and trade mark notices

Unless expressed to the contrary, all copyright, trademarks and other intellectual property rights contained in the site and the materials appearing on it are owned or licensed by us and may not be reproduced, stored, adapted, uploaded to a third party system or used without our prior written consent/permission. No trademark of ours (whether registered or otherwise) may be used without our prior, specific, written permission.

The site may also contain trademarks of our affiliates or integration partners (including advertisers, sponsors and customers). The use or misuse of these trademarks, except as expressly authorised, is prohibited. The use by us of a third party trademark on the site is not intended to indicate any association with, or endorsement by, the owner of that trademark.

We own or control, and reserve, all rights

Unless otherwise indicated, all rights (including copyright) in the content and compilation of the web pages and online images (including text, graphics, logos, button icons, video images, audio clips and software) comprising the site are owned or controlled, and are reserved, by us.

No Recommendations

In relation to content contained on the site, whether generated by Pearler or a user on the site, you acknowledge that:

Lawful and authorised use only

You must only use the site for lawful purposes and for the purposes explicitly outlined and authorised on the site (including in these terms). If any part of the site requires you to provide a username and password to access or use any part of the site, you must keep that username and password confidential and not provide them to anyone other than us. We strongly suggest turning on two-factor authentication (2FA) where possible and that you use a password manager. You must immediately let us know if you believe that your password is known to someone else or if it may be used in an unauthorised way.

You are authorised to:

You are not otherwise authorised to copy (other than for personal viewing), broadcast, reproduce, republish, store (in any medium), transmit, broadcast, distribute, sell, lease, licence, show or play in public, adapt or change in any way the content of, or create a derivative work from, the site for any other purpose unless we have provided prior written consent and you have also received the permission of any other relevant rights owner. You must not copy, decompile, reverse engineer, disassemble,or attempt to derive the source code of the site.

This prohibition does not extend to materials on the site which are expressed to be freely available for re-use or replication, subject to any conditions we specify.

Any contributions made by you to the site must:

General prohibitions

You must not use or contribute to the site, or use any tools or applications offered through the site, in a manner that:

We have the right to disable any user identification code or username or terminate or restrict your access to the site if, in our opinion, you have failed to comply with any of these terms and conditions.

We also reserve the right to remove and delete any content you put on the site.

Co-operation with authorities

We reserve the right to cooperate fully with any law enforcement authority in any jurisdiction in respect of a lawful direction or request to disclose the identity or other information about anyone posting materials which the authority claims violates any applicable law.

Your responsibilities under laws affecting you

You are responsible for ensuring that your use of the site is lawful, does not infringe any third party’s rights and does not breach any standards, content requirements or codes promulgated by any relevant authority (including relevant internet industry codes of practice).

If you have any feedback, questions or concerns about how we handle your personal information or this policy, please contact our Privacy Officer at:

Privacy Officer support@pearler.com Level 1 MCIC, UNSW, Gate 2 Avenue, Kensington 2033

We care about your privacy and take your privacy concerns seriously. We will usually ask that you put your request to us in writing. Where you express concerns that we have interfered with your privacy we will respond to let you know who will be handling your matter and provide a response within 30 days.

If you are not satisfied with our response, you can lodge a complaint with the Office of the Australian Information Commissioner (OAIC) online at oaic.gov.au oaic.gov.au or by writing to GPO Box 5218, Sydney NSW 2001. For more information visit the OAIC’s website or contact them by telephone: 1300 363 992 or email: enquiries@oaic.gov.au.

As we operate in the financial services industry, you can contact the Compliance Manager at Sanlam Private Wealth Pty Ltd on (03) 8640 5508 or at SPW_compliance@privatewealth.sanlam.com.au.

If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with, you can also lodge a complaint with the Australian Financial Complaints Authority (AFCA) online at afca.org.au or by writing to GPO Box 3, Melbourne VIC 3001 quoting our Member Number 41620. For more information visit the AFCA website or contact them by telephone:1800 931 678 or email: info@afca.org.au.

We reserve the right to withdraw or amend, update or change the functionality or content of the site at any time. We may also make changes to these terms at any time. However, when we do update these terms in a material way, we will update you via email and/or other means. An up-to-date version of these terms will always be available on our website. You are responsible for keeping up to date with any changes by regularly reviewing these terms. If you access the site after any changes are posted, you agree to all changes (including those which you are then unaware have been posted).

Accounts can be opened by individuals over the age of 18.

We reserve the right not to open accounts for residents outside of Australia.

You will adhere to the account opening process, and if applicable confirm that we did not solicit, induce or market our services to you.

To open an Account, you must:

We may, at our absolute discretion, decline your application for an Account.

Before you can provide us with an Instruction, you must fund your Account. Pearler retains the discretion to allow purchase of Securities or Managed Funds traded on a regulated Exchange prior to any funding.

You allow Pearler to place a hold on any funds deposited for a period of up to 10 days prior to making it available for withdrawal. We will provide you with advanced details of the hold period based on your funding method.

You allow Pearler to place a hold on funds deposited via Direct Debit (or any other funding method) until the funds have cleared at Pearler which could take up to 4 business days. After this time, the funds may be withdrawn by the customer if their funds have cleared.

You authorise Pearler, if required, to facilitate the transfer of all funds deposited into your Account to the client trust account of Pearler’s broker-dealer (OpenMarkets).

You will be notified once the funds have cleared in the client trust account and are available to invest.

You confirm that the intention of using these funds is not for any improper or illegal activity.

You may withdraw funds from the client trust account (subject to any hold period) at any time through instruction on the Pearler website and/or our mobile app.

We may request you to undergo a biometrics test to prove your identity and confirm that you have access to the accounts you are requesting a withdrawal to.

When you issue a withdrawal instruction, you authorise Pearler to facilitate the transfer of your funds from the client trust account to your local bank account.

Once you have opened an Account, you may Instruct us to buy or sell Securities or Managed Funds traded on a regulated Exchange on your behalf. We will then arrange to execute your Instructions.

You acknowledge that we manage your money as outlined in Section 4.

Your Money held with Us

Any Instructions:

We are entitled to assume that any Instructions given via the Website or Mobile Application using your account details are from you. You are bound by any such Instructions.

As part of executing your Instructions, you will be charged brokerage by the integration partner at the rates agreed to in the agreement with the integration partner, and any other applicable Fees and Charges in each case as specified on the Website and/or our mobile app.

The current per trade fees for ASX listed securities are:

These Fees and Charges may change from time to time and may differ depending on whether a fractional or whole interest in a Security is being purchased.

You authorise Pearler and Sanlam Private Wealth Pty Ltd to receive a portion of the brokerage paid by you to the integration partner as disclosed in the Fee Schedule.

You acknowledge that the price at which the Instructions are executed may be different from the price the Security is trading at the time you give your Instructions.

We do not guarantee that your Instructions will be executed:

We are not a Registered Tax Agent.

We recommend that you obtain professional financial, legal and taxation advice before making any financial investment decision.

As part of the Pearler service, we will not provide you with Personal Financial Product Advice. If we provide you with General Financial Product Advice, that advice has been prepared without considering your personal information and does not take into account your specific needs or objectives.

You are responsible for any investment or trading decisions made by you with respect to your Account and we will not be responsible for determining the suitability, appropriateness or advisability of your Instructions, any Transaction or Currency Conversion.

We do not guarantee the performance of any Securities or Managed Funds traded on a regulated Exchange.

You must only provide us with Instructions and enter into Transactions for your own benefit and you will not use your Account on behalf of third parties (unless agreed with us).

When you provide us with Instructions, you acknowledge that:

We will use our reasonable endeavours to arrange for the execution of your Instructions. You will receive Confirmation upon execution.

We will not be responsible for any losses you may incur as a result of any delay or error in the transmission or execution of your Instructions, and you acknowledge that international time differences and timing of public holidays or other similar observances may lead to delays in receipt of Instructions and execution by us and our integration partners.

Instructions to buy or sell Securities or Managed Funds traded on a regulated Exchange may only be valid for terms that we determine from time to time and within the maximum terms allowed on the relevant Exchange.

If you request variation to or cancellation of a Transaction recorded by us, the Transaction will not be varied or cancelled until we notify you that your request has been accepted.

You will be liable to pay the applicable market fees for your trades.

You are responsible for any liability for contracts arising from your Instructions.

You will indemnify us against all loss, expense or any other liability in relation to the execution of your Instructions, except to the extent resulting from or caused by our gross negligence, fraud or dishonesty.

You acknowledge that if you initiate a chargeback of any kind initiated by you or fail to clear funds deposited via Direct Debit or any funding source that we have the right to suspend your account, place a hold on your assets and instruct OpenMarkets to execute trades on your behalf to recoup any losses incurred by Pearler.

You will be liable for losses caused by unauthorised Transactions where we can prove that you contributed to losses on the balance of probability:

If you are liable for losses under this clause, you will be liable for the actual losses that occur between the time you realised, or should reasonably have become aware that your Account’s security had been breached, and when you actually let us know.

You acknowledge that Pearler has the right to claim any reasonable expenses and cost (legal or otherwise) in relation to resolving any claim against you or us (by you), whether resolved or not. In relation to this clause, you acknowledge that if a judgement is made against you in relation to such costs and expenses, you will be liable for those costs and expenses incurred by us.

The Pearler service gives you the ability to instruct us to arrange to execute transactions on your behalf. To use the Pearler service you will need to have access to the internet. You are responsible for maintaining any electronic equipment or software needed to give you access to the Pearler service or the Website or our mobile application.

We do not promise continuous, non-interrupted or fault-free delivery of the Website and / or Mobile App or the Pearler Service.

Access to the Website and / or Mobile App and the Pearler service may be unavailable or interrupted from time to time due to:

In addition, your access to the Website and / or Mobile App may be restricted or suspended as set out in these terms.

Applicable law

The site (excluding any linked third party sites) is controlled by us from Australia.

Any disputes must be determined by the courts having jurisdiction in NSW, Australia in accordance with laws in force in NSW. You irrevocably and unconditionally submit to this jurisdiction.

Unenforceable terms

If any of these terms are found by a court to be invalid or unenforceable, the invalidity or unenforceability will not affect the remaining terms.

No offers where illegality arises

Nothing on the site constitutes an offer to provide goods or services in any jurisdiction if to do so would contravene the laws of that jurisdiction.

Finnhub Stock API

We receive asset data from Finnhub.

Site or content may be unlawful outside Australia

We do not warrant that the content of the site complies with the laws of any other country. If you access the site from outside of Australia, you do so at your own risk and you accept responsibility for ensuring or confirming compliance with all laws that apply to you because of that access or any consequent transactions or dealings with us.

OpenMarkets Australia Terms and Conditions

• Client agreement
• FSG
• Best Execution
• Privacy Policy

Pearler Referral Program

Pearler & The Motley Fool $50 Credit Offer

The legal stuff

Pearler Rewards Competition

The Rewards Competition is for the purpose of promoting the Pearler Web Platform and to reward users for building regular long-term investing habits. The collection of Pearls is tied to actions you undertake on the Pearler Web Platform are required for entry into the Competition, which is designed to promote Pearler’s business and encourage investment via the Pearler Web Platform. The most recent T&Cs are available via this link.

Pearler Micro Gifting Program

Errors and complaints

General disclaimers