MEMBER
fact sheet
BUSSQ OFFERS YOU
FINANCIAL ADVICE
AS AT MARCH 2015
BUSSQ offers financial advice that ranges from simple,
straightforward advice at no extra cost to members, to
more complex advice that is competitively priced on a
fee for service basis. Our fees are low, structured purely
for cost recovery and they can be deducted from your
super account, so you won’t be out of pocket.
STRAIGHTFORWARD
ADVICE
BUSSQ offers members personal advice about
their super at no extra cost.*
The types of advice covered by this include:
„„ Choosing insurance
„„ Choosing investments and
„„ Contributions including salary sacrifice
COMPLEX ADVICE
BUSSQ also offers members more complex
financial advice about their super on a fee for
service basis, however the initial meeting won’t
be charged.
The types of advice covered by these fees
include:
„„ R
etirement planning and pensions
including ways to improve the Centrelink
Age Pension
„„ T
ransition to Retirement (TTR) pensions
and other associated benefits
„„ A
dvice on rolling various super accounts
into one to save
„„ P
eriodic reviews and implementation of
complex advice provided
You don’t have to be a BUSSQ member to access
this advice. We can offer this advice to everyone
including your family and friends.*
OUR FEES ARE LOW
INTENTIONALLY
We are a super fund regulated by APRA, and are
therefore required by law to charge members a fee for
delivering complex financial advice. We’ve worked hard
to ensure our fees are low, structured purely for cost
recovery, to make sure you can still access the advice
you need to get your super sorted. Better still, they can
be deducted from your super account, so you won’t be
out of pocket.
Our fee for complex advice is charged at $150^per
hour. It is expected that most complex advice will cost
between $300^ and $750^, depending on the complexity
and time required by the financial planners. This is a
very competitive rate. We’re confident that by spending
a small amount today to get your super on track, you’ll
see a lifetime of difference.
AFFORDABLE FINANCIAL
ADVICE ON MATTERS OTHER
THAN SUPER
We can also arrange advice for you about matters other
than super like shares, investments, setting up trusts
and business and complex insurance arrangements like
trauma cover.
As this advice is outside of super, you are not able to
deduct the fees from your super account. However, the
fees we can negotiate for you are competitive and you
will not be charged commissions, unlike those being
charged by some banks and financial planners.
BUSSQ makes getting financial
advice very affordable
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See progoe
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To understand how the fees of our financial advice offerings are structured,
and what you might expect to pay if you were to seek financial advice through
BUSSQ check out the examples below:
MEMBER
fact sheet
CASE STUDY 1
STRAIGHTFORWARD ADVICE AT NO EXTRA COST
Kevin, age 50
At age 50 Kevin decides he needs to start building his super in order to retire one day.
So he contacted BUSSQ to find out how he could do this.
After talking with a BUSSQ financial planner either over the phone or in person, it was
established that Kevin could implement a contribution strategy, and it was recommended
that he commence salary sacrificing. This way he could increase his super contributions but
still live comfortably on his remaining take home pay.
Direct cost of advice to Kevin: Nil, as it comes under the category of IntraFund,
or Straightforward Advice.
Kevin, age 50
CASE STUDY 2
COMPLEX ADVICE CHARGED AT AN HOURLY FEE
Bob and Betty, both age 60
Bob works full time and Betty part time. Bob has a BUSSQ account and Betty currently has two super
accounts, one with BUSSQ and one with another superfund. They are both hoping to retire in five years.
After an initial discussion with a BUSSQ Financial Planner, which was free of charge, Bob and Betty
had a follow up meeting where it was recommended that Bob should:
„„ Commence a BUSSQ Transition to Retirement Pension,
„„ Commence salary sacrificing into his BUSSQ Premium Choice Super account.
This would allow him to contribute an extra $3,000 per year into super after tax, but he could
maintain his current take home pay.
The BUSSQ Financial Planner also recommended that Betty roll her other super
account into her BUSSQ Premium Choice Super account and make voluntary
contributions into that account with her surplus cashflow.
This type of advice is not covered under the IntraFund advice category, and
comes under Complex Advice.
As a result, there is a cost to Bob and Betty to provide them this financial
advice, and help them to implement our recommendations to ensure they are
on track to meet their retirement goals. They received a Statement of Advice
covering our recommendations, and how they would be better off having
taken our advice.
Direct cost of advice to Bob and Betty: This complex advice was
charged at $150 per hour and in total was $450. They have the option
of deducting the respective cost from their BUSSQ accounts.
Bob and Betty,
both age 60
IMPORTANT INFORMATION *BUSSQ offers members personal limited financial advice about their super including: choosing insurance, choosing investments and
contributions, at no extra cost as it is included in the fund’s administration fees. BUSSQ also offers members and non-members more complex financial advice on a fee for service
basis. This advice is delivered by BUSSQ’s in-house Financial Planners and can be done in person or over the phone. Non BUSSQ members who receive advice will need to be billed
for the advice separately. ^The rate of $150 per hour includes GST. BUSS(Queensland) Pty Ltd ABN: 15 065 081 281. BUSSQ ABN: 85 571 332 201 BUSSQ AFS Licence: 237 860
Information correct as at 27 March 2015.
1800 MY BUSSQ
bussq.com.au