Joint Financial Services Guide - BUSSQ

Joint Financial Services Guide

CCJ17765 - Combined Financial Services Guide FA 21-11-19-WEB

Joint Financial Services Guide – BUSSQ Building Super, Skylight Financial Solutions and Link Advice

21 November 2019 



This Joint Financial Services Guide (FSG) has been prepared, authorised and issued by BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) as Trustee for

BUSSQ (ABN 85 571 332 201) (the Trustee),

Skylight Financial Solutions Pty Ltd (ABN 46 076 835 848, AFSL 450139) (Skylight)

and by Link Advice Pty Ltd (ABN 36 105 811 836, AFSL 258145)(Link Advice). The

distribution of this FSG by the Trustee, Skylight and Link Advice has been authorised by all parties.

The Trustee has contracted with Australian Administration Services Pty Limited

(ABN 62 003 429 114) (AAS) to provide member and employer administration services in relation to BUSSQ. Link Advice is a wholly owned subsidiary of AAS and authorises certain AAS employees to provide general financial product advice to BUSSQ members through the member contact centre. The purpose of this FSG

is to help you decide whether to use the services offered by the Trustee, Skylight and/or Link Advice. This FSG will provide you with information about the services provided by the Trustee, Skylight and Link Advice, and how their respective representatives are remunerated in relation to the financial services offered and how complaints against BUSSQ, Skylight and Link Advice are dealt with.

The Trustee is authorised to:

  1. Provide financial product advice for the following classes of financial products:

    i Superannuation, and

  2. Deal in a financial product by:

    i Issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

    1. • deposit and payment products limited to non-cash payments products, and

    2. •  superannuation.

The financial services provided by BUSSQ may include personal or general advice on:

• Rolling over superannuation benefits

• Salary sacrifice

• Voluntary contributions

• Member investment choice

• Insurance benefits

• Account based pension

• Spouse contributions

• Superannuation legislation

• Tax on superannuation, and

• Other superannuation issues.


Skylight is authorised to provide financial advice and deal on your behalf in relation to:

• Deposit and Payment Products - Basic Deposit

• Deposit Products – other than Basic Deposit Products

• Deposit and Payment Products - Non-cash Payment

• Government Debentures, Stocks or Bonds

• Investment Life Insurance Products

• Life Risk Insurance Products

• Managed Investment Schemes, including Investor Directed Portfolio Service

• Retirement Savings Account Products

• Securities

• Superannuation

  • Skylight does not provide advice in relation to:

  • •  Stock selection

  • •  Direct property

  • •  Share placement

  • •  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.


    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.


    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 fees that will be paid in dollar amounts, in relation to a product or strategy that is recommended.

  • • 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.


    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:

  • • Insurance

  • • Contributions

  • • 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.


    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).


    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 and the Skylight Privacy Statement is available at

    Link Advice and AAS are subject to the Link Group Privacy Policy, a copy of which is available at Group_Privacy_Policy.pdf


    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: 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.


    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


    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.


    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.


    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:

  • • An authorised MySuper product

  • • A superannuation accumulation fund for choice members

  • • A Child Income Account

  • • A Transition to Retirement Income Account

  • • An account based Income Account

  • • A Term Allocated Pension.

BUSSQ Staff provide general advice on the above mentioned products. Personal Financial Advice to BUSSQ members is provided by Skylight Financial Solutions.



Anyone can join BUSSQ. This includes on site and off site workers, clerical workers, apprentices, professionals, spouses, family and friends, and working directors.You don’t have to be connected to the building industry to join the Fund.



Our Planners and staff are salaried employees who are authorised to give you advice within the terms of our AFSL. Not all Skylight Financial Solutions representatives are authorised to provide

advice in all of these products or services. They will advise you of what they are eligible to give advice on at the time.

Our employees and representatives receive a salary. They do not receive personal payments (hard or soft dollars) or commissions for the recommendation or sale of any products.

Skylight Financial Solutions does not pay any commissions to any third party whatsoever.




PHONE 1800 MY BUSSQ (1800 69 2877) MAIL BUSSQ PO Box 1526

Milton QLD 4064

VISIT BUSSQ 299 Coronation Drive, Milton QLD 4064



PHONE 1800 SKYLIGHT (1800 759 544)


Milton QLD 4064

VISIT SKYLIGHT 299 Coronation Drive Milton QLD 4064



EMAIL PHONE 02 8571 5000

FAX 02 8571 5555

VISIT 1A Homebush Bay Drive, Rhodes NSW 2138



EMAIL PHONE 1300 734 007

MAIL PO Box 240 Parramatta NSW 2124 VISIT 1A Homebush Bay Drive,

Rhodes NSW 2138