Purpose of the Financial Services and Credit Guide

 

This Financial Services and Credit Guide (FSG) is an important document that outlines the products and services that Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 (‘Squirrel’, ‘we’, ‘our’, ‘us ’) is authorised to provide under our Australian Financial Services License (AFSL) and Australian Credit License.

This document is designed to help you decide whether to use any of the services offered by Squirrel. It also provides information about:

  • Who we are and how we can be contacted
  • The financial products and services we can offer
  • How we, and any other relevant parties are paid
  • Our relationships with others and how these could influence the advice we give you
  • How complaints about us are ha ndled
  • Where to get details on our privacy policy

This document replaces any previous FSG issued by Squirrel.

 

Who is Squirrel?

 

Squirrel is an Australian Financial Services Licensee who provides intuitive, innovative self – managed superannuation fund (SMSF) services with amazing features to assist Australian’s to take control of their retirement.

Squirrel Superannuation Services Pt y Ltd ABN 87 169 366 750 is the holder of AFSL and Australian Credit License number 462160 and is a wholly owned subsidiary of Squirel Ltd ABN 64 605 835 514 . For more info visit www.squirel.com.au

What financial and cred it services and products do we provide

Under our license, Squirrel is authorised to provide financial product advice to retail and wholesale clients and deal in the following financial products:

  • Deposit and Payment products – Basic Deposit
  • General Insurance (advice only)
  •  Life Risk Insurance Products
  • Managed Investment Schemes, exc IDPS
  • Retirement Savings Accounts
  • Securities
  • Superannuation

In some circumstances, we may provide you with credit assistance; this can occur when we recommend that you make a loan application, stay in your current loan or apply for a particular loan.

Squirrel is not authorized to provide advice or deal in the following financial products:

  • Derivatives
  • Margin Lending Facilities
  • Foreign Exchange Contracts
  •  Government Debentures, Stocks and Bonds

We provide these services through our member service centre and our online administration system.

The type of advice

 

We do not provide personal financial product advice and do not make recommendations about any of the products and services described in this FSG.

Any general financial product advice that we provide is prepared without taking into account your objectives, financial situation or needs. If you require personal financial product contact your financia l adviser.

Who will be providing the Financial Services described in this FSG?

Squirrel acts for the trustees of self – managed superannuation funds when we provide the services described in this FSG.

Our staff will be involved in providing these services .

We do not appoint authorised representatives or financial advisers to provide financial services to clients.

Other documents you may receive

Squirrel provides a SMSF administration service to the trustees of self managed superannuation funds.

At you r 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.

The payments and benefits our employees receive

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

Squirrel offers products from external providers

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, effective and cost competitive SMSF administration servic e for our clients.

It is not mandatory for trustees of SMSFs to utilise the services of these firms with the exception of the Cash Management Account provided by Macquarie Bank Limited as this facility provides transactional reporting ne cessary for the efficient administration of a SMSF . As for other providers, u ltimately the trustees decide which products and services are used and which providers they will utilise.

 

How we are paid

 

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 $1,452 (inc 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 $3,171.05 (inc GST) which, at Trustee discretion can be debited from SMSF bank account post establishment.

Squirrel, has made a commitment not to accept commissions , volume rebates, kick – backs of any kind from any product provider . As a result and w here possible, Squirrel negotiates with providers to lower wholesale costs for the benefit of our clients.

Professional indemnity insurance

 

Squirrel confirms that is has arrangements in place to ensure it continues to maintain Professional Indemnity Insurance in accordance with s.912B of the Corporations Act 2001 (as amended).

 

Complaints

 

You may advise of any complaint or dissatisfaction with our services or advice provided to you. The following dispute resolution procedure is in place to ensure that your enquir ies and complaints are handled efficiently.

Contact Squirrel and advise us of your complaint. One of our Member Services team will attempt to reso lve your complaint and will notify you of any proposed resolution as soon as possible.

If your complaint is not resolved to your satisfaction, please send a written complaint addressed to:

The Compliance Manager

Squirrel Superannuation Services P/L

GPO Box 2725

SYDNEY NSW 2000

If a satisfactory outcome is not reached within 45 days of your initial complaint, you may complain in writing to The Financial Ombudsman Service (FOS), of which Squirrel is a member.

The FOS can be contacted as follows:

Finan cial Ombudsman Service

GPO Box 3 Melbourne VIC 3001

Telephone: 1300 780 808

Email: info@fos.org.au

Internet:

www.fos.org.au