• General insurance products
Link Advice and its representatives are authorised (among other things) to deal in and to provide general financial product advice in relation to superannuation products.
Before making any decisions to acquire a BUSSQ or other financial product,
you should read the relevant Product Disclosure Statement (PDS) and/or obtain professional financial advice. The PDS provides information about the benefits, including fees and risks, associated with that product.
WHAT IS GENERAL ADVICE?
General advice is advice that does not take into account your individual
objectives, financial situation or needs and as such the advice may not be appropriate for your circumstances.You should assess your own financial needs and/or obtain advice from a qualified professional before acting on general advice. General advice is provided by the Trustee, Skylight and Link Advice. General advice regarding your BUSSQ membership
is included as part of your BUSSQ membership fee. There is no additional cost to you for this service.
WHAT IS PERSONAL ADVICE?
Personal advice is advice that does take into account your individual objectives, financial situation or needs. Skylight provides personal financial advice on behalf of the Trustee to BUSSQ members, and also to other clients. Whenever Skylight provides you with Personal advice, a Statement of Advice (SOA),
also known as a financial plan, will be provided.
The Trustee or Skylight will always tell you about:
• Any limitations on the advice they can give you
When a representative of the Trustee or Skylight recommends a particular financial product, a PDS will always be provided to allow you to make an informed decision.
WHAT IS THE COST?
Link Advice does not receive specific remuneration relating to the services offered that have been outlined in this guide. AAS is remunerated by the Trustee for the contracted administration services that it provides to the BUSSQ fund, as
a whole. The Trustee levies fees and charges on individual members to cover the operating costs of the fund (including administration costs). For information relating to the administration fees levied on members, please refer to the relevant Product Disclosure Statement (PDS). Link Advice and AAS do not pay or receive commissions. In some circumstances,
Link Advice representatives may receive performance-based bonuses (paid by Link Group). These bonuses are discretionary and dependent on the achievement of predetermined compliance and service standards and business objectives.
Where required by legislation, the Trustee provides a fee for service approach when providing personal financial advice about superannuation matters. This advice is provided by Skylight. This ensures you only pay for the advice that you need.
The cost of Skylight providing straightforward personal advice is included in the BUSSQ administration fees. There are no additional fees or charges for this service. As BUSSQ is an industry super fund, all profits go to the members and not to shareholders. Straightforward personal advice is single issue advice such as:
• Investment Choice
Where advice other than general advice or straightforward advice as outlined above is provided, the cost of this advice will be at an hourly rate of $220 including GST.
Skylight will discuss and agree with you the cost of the advice before it is provided. All representatives are salaried employees and are not paid any commissions for providing services to you.
Neither the Trustee or Skylight Directors or our representatives receive hard or soft dollar bonuses as a direct result of providing advice to you. Directors of the Trustee and Skylight representatives do not receive commissions or bonuses as a
result of the services offered to you by our representatives. Any surplus generated from fees or charges is retained to be used for the benefit of BUSSQ members. The Trustee does not pay any commissions
to any third party who may refer you to BUSSQ.
WHAT COMPENSATION ARRANGEMENTS ARE IN PLACE?
The Trustee, Skylight and Link Advice each have in place adequate arrangements, including Professional Indemnity insurance, to compensate clients, fund members or their beneficiaries for loss or damage suffered as a result of breaches
of any relevant legislative obligations by the Trustee, Skylight, Link Advice or their respective representatives/employees including claims in relation to the conduct of representatives/employees who no longer work for the licensees (but who did at the time of the relevant conduct). These arrangements satisfy the requirements of section 912B of the Corporations Act 2001 (Cth).
HOW IS MY INFORMATION PROTECTED?
BUSSQ respects the privacy of its members. The Trustee and Skylight only collect information that is necessary to manage your account, provide financial advice, meet any legislative requirements and provide you with opportunities available to you as a member or client, or as otherwise permitted by law. We may share this information between the Trustee and Skylight as related companies. The BUSSQ Privacy Statement is available at bussq.com.au and the Skylight Privacy Statement is available at skylight.com.au.
WHAT RELATIONSHIPS OR ASSOCIATIONS MAY INFLUENCE THE ADVICE GIVEN TO ME?
Link Advice representatives may be members of BUSSQ. BUSSQ and Skylight Directors and representatives may be members of the BUSSQ Fund. BUSSQ and Skylight Directors may hold directorships in funds in which BUSSQ invests.
BUSSQ is an investor in Members Equity. Master Builders Queensland Insurance Services, which is owned by Master Builders Queensland, arrange certain insurances on behalf of the Trustee. BUSSQ uses OnePath (a company of ANZ) for the provision of Group Life Cover.
BUSSQ makes available a Clearing House to its employers and utilises SCH Online. SCH Online is a non-cash payment product issued by Pacific Custodians
Pty Limited (ABN 66 009 682 866, AFSL
295142)(Pacific Custodians) and operated by The Superannuation Clearing House Pty Limited (ABN 15 086 576 721)(TSCH).
Pacific Custodians, TSCH, Link Advice and AAS are all related bodies corporate and members of the Link Group of companies. For more information about the Link Group, please visit: linkgroup.com. BUSSQ has no association or relationship with any other product issuer and does not receive any benefit from any relationship that could influence the providing of advice.
WHAT IF I AM NOT HAPPY WITH THE FINANCIAL SERVICES PROVIDED?
For all complaints you should initially contact the Complaints Officer at BUSSQ, Skylight or AAS. You can do this by telephone, post, fax or email. We will consider your complaint and will usually respond within 30 days. We will make all reasonable efforts to resolve your complaint quickly and fairly.
If we don’t respond within 90 days or you are not satisfied with the way
your complaint is handled, or with the resolution, you may contact the Australian Financial Complaints Authority (AFCA). AFCA provides a fair and independent financial services complaint resolution service that is free to consumers.
AFCA may be able to help resolve your complaints, but only after you have made a complaint to BUSSQ.
To find out whether your complaint can be handled by AFCA, and the type of information you would need to provide them with, please contact them at:
Australian Financial Complaints Authority MAIL GPO Box 3
Melbourne VIC 3001
PHONE 1800 931 678
EMAIL email@example.com WEB www.afca.org.au
There are some time limits for lodging certain complaints. This includes complaints about the payment of a death benefit, which you must lodge with AFCA within 28 days of being given our written decision.
WHO IS RESPONSIBLE FOR THE ADVICE GIVEN TO ME?
Link Advice is responsible for advice given to you by AAS representatives, BUSS (Queensland) Pty Ltd is responsible for the advice given to you by BUSSQ, and Skylight Financial Solutions Pty Ltd
is responsible for advice given to you by Skylight.You may be provided with written material or communications including emails, which may contain general advice and the entity that prepared that written material is responsible for that advice. All contact with the BUSSQ telephone contact centre will be with an AAS representative.
If you are referred for personal advice on that call this will be provided by a Skylight representative, on behalf of BUSSQ. The representative assisting you is a salaried employee who is authorised to give you general or personal advice. The representative will inform you under which category they operate in terms of their advice status.
WHO IS BUSSQ?
BUSSQ is a profit for members’ industry superannuation fund. BUSS (Queensland) Pty Ltd is the Trustee of the Fund.
The Fund is a regulated fund under Commonwealth legislation. As a result, the Fund is able to obtain taxation advantages and can accept Superannuation Guarantee (SG) Contributions. The Trustee holds
an Australian Financial Services License which allows the Fund to provide superannuation advice to retail and wholesale clients.
BUSS (Queensland) offers these products: