Date of Issue: 01 July 2022

The Purpose of this Financial Services Guide (FSG) is to provide you with important information before a financial service is provided to you, so you can make an informed decision about whether to use our services.


Who we are

In this FSG, references to ‘we’, ‘our’, ‘us’, and ‘Squirrel’ (as applicable), are references to Squirrel Superannuation Services Pty Ltd (AFSL Number 462160, ABN: 87 169 366 750).

This FSG has been prepared and issued by Squirrel. Squirrel is a financial services company that holds an Australian Financial Services License (AFSL) providing Self-Managed Superannuation Fund (SMSF) administration and accounting services in Australia. Squirrel is responsible for the financial planning advice provided by your adviser.

Our contact details are:
Squirrel Superannuation
GPO Box 2725
Sydney NSW 2001
T: +61 2 8823 7999
E: save@squirrelsuper.com.au
W: www.squirrelsuper.com.au


Definitions

Employees: includes staff employed by Squirrel, its Directors and any contractors engaged by Squirrel.


Our Services

Squirrel is authorised to advise and deal in certain financial services to retail and wholesale clients, which allows us to consider the following strategies and products:

Strategies Products
• Wealth creation • Basic deposit products
• Retirement planning • Managed investment schemes (managed funds) excluding investor directed portfolio services
• Investments • Retirement savings accounts
• Life insurance • Securities, including shares, ETFs
• Superannuation and self-managed superannuation • Superannuation products
• Centrelink planning • Life insurance and risk products
• Cash flow planning and debt reduction

Squirrel is NOT authorised to advise and deal in the following financial products:

Products (we cannot advise on)
• Derivatives
• Margin Lending Facilities
• Foreign Exchange Contracts
• Government Debentures, Stocks and Bonds

Important Advice Notification

Squirrel advisers are only authorised to provide General Advice regarding the administration of a self-managed superannuation fund.


Your Adviser

Satyaki Patel (Seth).

Seth has over 17 years of experience in professional practice and commercial accounting across Australia, China, England, and India. Seth oversees daily business operations, evaluation and improvement of overall business functions, and training of staff members. He is also responsible for maintaining compliance with ASIC, ATO, TPB and AFCA. He is a member of both the Chartered Institute of Management Accountants (UK) and CPA Australia, and a Registered Tax Agent.

Your Adviser holds the following qualifications

  • RG146 - Superannuation
  • Associate Chartered Management Accountant

Mr Patel is a member of the following professional bodies – Chartered Institute of Management Accountants, CPA Australia.

He is also registered as a Tax Agent with the Australian Tax Practitioners Board - Registration Number 2598 6973

Satyaki Patel is an Authorised Representative (number 001297449) of Squirrel and is authorised to provide General Advice ONLY in the following area:

Administration
• The administration of a self-managed superannuation fund

What to expect if we provide you with General Advice

If we provide General Advice, it is intended to assist you in making decisions concerning the administration of a self-managed superannuation fund. We will NOT provide you with advice about a financial product or class of financial products AND the adviser will not have considered or discussed any of your specific, personal financial situation, objectives or needs.

Accordingly, if we provide General Advice, the following warning is also provided to inform you that:

Any advice contained in the document(s) or discussion does not take into consideration your financial situations, goals or needs. You must consider the appropriateness of the advice prior to acting on this information. Please seek your own specific advice or read the Product Disclosure Statement/Financial Services Guide of the product provider prior to investing in any financial product.


Documents you may receive from us

We will provide you with a Financial Services Guide.

At your request, we may refer you to external providers of financial products and services or arrange for them to issue products and services to you. If this occurs, you will be provided with Product Disclosure Statements / Product Information Statements for the financial products and services that these organisations issue.


How we charge

We are paid fixed dollar fees directly by the trustees of funds we administer for administration and administration related services.

  • Our annual administration fee is $1,680 (incl. GST) and is charged by direct debit on a monthly basis.
  • The cost to establish a fund including corporate trustee, multiple trusts including those necessary for limited resource borrowing arrangements is a fixed cost of $3,3000 (incl. GST). 50% ($1650 incl. GST) of the $3,300 establishment fee needs to be paid upfront when signing up with Squirrel Super. The balance can be paid from your SMSF bank account once the SMSF has been established.
  • Squirrel may accept commissions, or other fees from any product provider.
  • Squirrel may also accept non-monetary benefits such as: educational seminars; IT software or support; and benefits such as business lunches, tickets to sporting and cultural events, or other minor benefits.

The payments and benefits our employees receive

The remuneration of our team varies by role and function. Generally, however employees receive a combination of salary, superannuation, and where appropriate incentives for above-average performance measured by a balanced scorecard.

Any Interest, associations and other relationships

Squirrel holds commercial relationships with a number of product and service providers. The purpose of these relationships is to allow us to provide an efficient and effective SMSF administration service for our clients.

SMSF trustees do not have to utilise the services of these providers with the exception of the Cash Management Account provided by Macquarie Bank Limited as this facility provides transactional reporting necessary for our system to ensure the efficient administration of an SMSF. Trustees decide which products and services are used and which providers they will utilise.

On request, we will provide you with copies of your personal information and advice documents.


Your Privacy

A copy of our Privacy Policy is available at www.squirrelsuper.com.au. You can contact our Privacy Officer if you have any questions on privacy related matters. You can also visit the Australian Information Commissioner’s website at www.oaic.gov.au for more information about privacy.

Complaints

Squirrel takes all complaints seriously and we seek to resolve them promptly and to your satisfaction. Importantly, Squirrel maintains professional indemnity insurance that meets the legislative requirements under its Australian Financial Services Licence.

Stage 1 - Our complaint handling process

If you have a complaint about your adviser or Squirrel, please contact our Complaints Manager on 136 887 or write to us at:

The Compliance Officer
Squirrel Superannuation Services Pty Ltd
GPO Box 2725
SYDNEY NSW 2000
save@squirrelsuper.com.au

We will review your complaint and provide you with a final response that includes reasons for our decision within 30 days.

If a satisfactory outcome is not reached within 45 days of your initial complaint, you may complain in writing to the Australian Financial Complaints Authority (AFCA), of which Squirrel Super is a member.

Stage 2 - External dispute resolution

If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers:

Online: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678
Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001