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Financial Services Guide.

1 July 2016

Purpose of this guide

The purpose of this Financial Services Guide (FSG) is to provide important information about financial services offered by Host-Plus Pty Limited ABN 79 008 634 704 (Hostplus) and its representatives and help you decide whether to use/acquire those services.

This FSG contains information about:

  • who we are and our contact details;
  • what financial services we are authorised to provide and the financial products to which those services relate;
  • details about relevant associations and relationships;
  • how Hostplus (and our representatives) are paid;
  • how we protect your personal information; and
  • information on our internal and external dispute resolution procedures and how you can access them.

If you need more information or clarification of any matters raised in this document, please contact us.

This FSG has been authorised for distribution by Hostplus and its representatives.

Who is Hostplus?

Hostplus (also referred herein as Trustee, we, us and our) is an Australian Financial Services Licensee (AFS Licence No. 244392), an APRA regulated Registrable Superannuation Entity Licensee (RSE Licensee No L0000093) and trustee of the:

  • Hostplus Superannuation Fund ABN 68 657 495 890, RSE No. R1000054, MySuper No. 68657495890198 (the Fund) which includes Hostplus pension; and the
  • Hostplus Pooled Superannuation Trust ABN 13 140 019 340 RSE No. R1076257.

Who provides the financial services described in this FSG

The financial services described are provided by Hostplus (including its representatives).

Hostplus is responsible for the financial services offered in this FSG. We do not act on behalf of any other person.

A guide to our relationship with you

Financial services available to you

Hostplus primarily provides financial services including financial product advice, such as limited personal (intra-fund) advice and general advice, in relation to products issued by us.

We do not generally provide advice about financial products issued by companies that are not related to us, except to the extent relevant to promote partnered products, such as products and services made available to Hostplus members through corporate partnerships with ME, formerly known as Member Equity Bank Limited (ME Bank) ABN 56 070 887 679 AFSL and Australian Credit Licence 229500.

Promotion of partnered products will be limited to the provision of general advice as authorised under our Australian Financial Services Licence.

Hostplus has also engaged Industry Fund Services Ltd ABN 54 007 016 195, AFSL 232514 (IFS) to provide Hostplus members and prospective members access to low cost personal financial product advice.

Hostplus Financial Planners are Authorised Representatives of IFS and provide advice under the IFS Australian Financial Services Licence. Fees may apply. For information about IFS, IFS Authorised Representatives and the services available, please call 1300 138 848 to obtain a copy of the IFS Financial Services Guide. IFS is responsible for any advice given to you by its Authorised Representatives.

What kind of financial services is Hostplus authorised to provide me?

Under our AFSL we are authorised to provide financial product advice for deposit and payment products, limited to basic deposit products, and superannuation. We are also authorised to deal in a financial product by issuing, applying for, acquiring, varying or disposing of a financial product in respect of superannuation to retail and wholesale clients.

Hostplus provides the financial services described in this FSG either directly or through an Employee Representative whose authority will be limited to the provision of factual and general financial product advice only.

Limited personal advice is also made available to Hostplus members via the use of an online, intra-fund, advice tool known as ‘Super Adviser’. Advice provided in this way is scoped advice which is limited to a member’s interest in the Hostplus Superannuation Fund.

If a Hostplus member requires personal advice beyond the scope of which a Hostplus Advice Consultant can provide through the use of the Super Adviser tool, the member will be referred to a suitably qualified and licensed Hostplus Financial Planner.

Hostplus is also registered as a tax (financial) adviser under the Tax Agent Services Act, 2009 (TASA) and authorised to provide tax (financial) advice services for the purposes of ascertaining and advising on liabilities, obligations or entitlements that arise, or may arise under a taxation law. The provision of tax (financial) advice services’ is ordinarily performed in the provision of financial services (advising and dealing) on financial products authorised under our AFSL.

Hostplus, its Employee Representatives and its Financial Planners are not authorised to provide tax agent services, that is, services in relation to the preparation and filing of tax returns.

Other documents you may receive

Product Disclosure Statements

If we have recommended a particular product we will provide you with or make available via our website, a copy of the relevant Product Disclosure Statement (PDS).

The PDS will help you make an informed decision about whether or not to acquire or continue to hold the product.
The PDS will contain information about the features, costs, risks and benefits of the financial product.

Statement of Advice

Before we provide you with limited personal (intra-fund) advice with respect to your interest in Hostplus, we will collect certain personal information about you to understand your objectives, financial situation and needs. Where such personal advice is provided, Hostplus will prepare and provide a Statement of Advice (SoA) which will contain the advice, the basis (or reasoning) of the advice recommendations, including certain prescribed information about fees, payments and associations that we have that may influence the advice provided to you.

Copies of all advice documents will be retained as required by law. You may also request a copy by contacting us.

General Advice

If you visit our website or contact our Client Services Team, you will receive general advice only.
Hostplus and its representatives may provide general advice which is prepared without taking into account your particular objectives, financial situation or needs. You should consider the appropriateness of the advice in light of your individual circumstances and obtain and consider a copy of the PDS before making an investment, insurance or product-related decision.

How will I pay for the service?

Hostplus charges and receives administration fees for the provision of management and related services of the Fund. Investment management fees also apply and vary depending on the underlying investment option(s) your interest in Hostplus is invested in. Other ancillary fees may apply for specific activity-based services which members may request from time to time.

All fees and charges are set out in Hostplus’ PDSs and incorporation by reference (IBR) materials.

There are no additional fees for the provision of general financial products or intra-fund advice you may receive from us. Similarly, no fees are payable for referrals made to us, and no commissions are payable by us, to financial advisers.

Your licensed financial adviser, accountant or other relevant agent or intermediary may, however, charge you fees for providing financial product advice or financial services more generally. Details on such remuneration, commissions and other benefits are required to be disclosed to you within the FSG and SoA which are provided to you by your licensed financial adviser or other relevant intermediary.

Hostplus members can elect to have some or all of the cost of personal financial advice provided by a Hostplus Financial Planner, or an approved external financial planner registered with Hostplus, directly from their Hostplus superannuation or pension account where it relates solely to their interest in Hostplus. Certain conditions apply and Hostplus retains absolute discretion to approve the deductibility of such costs from a member’s Hostplus account.

Please refer to the Hostplus PDS and IBR materials for further information.

How are our representatives paid for providing financial services?

Our representatives, including Employee Representatives that have been appointed as an Authorised Representatives of IFS, are salaried Hostplus employees. Salary increases and any performance bonuses are managed strictly in accordance with the Hostplus’ Enterprise Bargaining Agreement and applicable employment contracts, key performance indicators and performance assessments. Any qualification for a salary increase or participation in any bonus arrangement which are available to eligible staff will relate to their overall performance, which may include quality of advice provided to clients.

Any performance bonuses received by our representatives are paid directly by Hostplus and will not affect the level of fees charged to members’ superannuation or pension accounts.

Hostplus representatives do not charge, and are not eligible to receive, commissions.

Do any relationships or associations exist that may influence any advice or financial services provided to me?

Under a formal service agreement Hostplus has contracted with IFS to appoint relevant Hostplus Employee Representatives as Authorised Representatives under the IFS’ AFSL.

IFS is a wholly owned subsidiary of Industry Super Holdings Pty Ltd (ISH) of which Hostplus has a shareholding interest. Hostplus pays service fees to IFS for adviser services, including technology, compliance, audit and training for Authorised Representatives and for costs associated with related services IFS may provide.

These service costs are met from Hostplus’ administration costs. IFS does not charge or retain any commissions from Hostplus or its representatives.

ISH and its subsidiaries1 also provide a range of other services and investment products to Hostplus and other institutional clients. All transactions including income earned and fees charged for the investment management of these portfolios are made on normal commercial terms and at market rates.

ME (formally Members Equity) Bank and ISH are owned by a number of shareholders, many of which are major industry superannuation funds, including Hostplus. ME hold cash and short term deposits on behalf of the Trustee and provides access to investment in its Super Loans Trust (a fixed interest investment vehicle). ME also provide low-cost home loans and banking products to industry fund members.

Hostplus similarly invests in Industry Super Property Trust (ISPT). ISPT has been appointed by the Trustee to manage a range of unlisted property trusts on its behalf.

While Hostplus has a commercial interest in the above mentioned entities, all service fees and related transaction costs paid by Hostplus are on normal, commercial, terms and conditions and in accordance with Hostplus’ outsourcing policies.

Will you give me advice that is suitable to my personal objectives, needs and financial circumstances?

In providing personal advice to its members and advice clients Hostplus is required by law to:

  • act in the best interests of the client;
  • provide appropriate advice;
  • warn the client if the advice is based on incomplete or inaccurate information; and
  • prioritise the interests of the client over Hostplus’ interests.

The advice provided to you by Hostplus is typically general in nature and as a result will not take into account your particular circumstances, objectives, financial situation or needs. Therefore, before you make a decision based on any advice provided to you by Hostplus you need to consider, with or without the assistance of a licensed financial adviser, whether the advice is appropriate for you.

If, however, you have requested limited personal advice using the Super Adviser tool, the advice provided will be scoped, or limited, to your superannuation interests with Hostplus and will be based on the information which you provide regarding your financial situation, personal circumstances, goals, objectives and risk tolerance.

You should obtain a copy of the relevant PDS and carefully consider the information contained in it before making any decision about whether to acquire, continue to hold or dispose of an interest in Hostplus.

Do you keep my personal information?

Protecting your privacy is important to us. Under the Privacy Act we are required to handle your personal information in accordance with a set of principles known as the Australian Privacy Principles (APPs).

Hostplus may collect your personal information in order to provide you with limited personal (intra-fund) advice. If you do not provide this information we may be unable to provide you with advice that is relevant or that may be suitable to you.

We may also collect your information to enable us to identify you, set up your interest in Hostplus, administer your superannuation account on your behalf and respond to any queries or requests you may have regarding your interest in Hostplus.

Hostplus’ Privacy Policy is available at hostplus.com.au/privacy and includes information about overseas disclosure of personal information, how you may access and seek correction of your personal information as well as how you can make a complaint about a breach of your privacy.

Hostplus may need to disclose relevant personal information to external organisations that help us provide our services to you. We limit the information provided to these organisations to what is required to perform the contracted services for Hostplus or to provide products or services to our members. These organisations are also bound by strict contractual and confidentiality arrangements, including IFS, marketing and market research agencies for the purposes of the provision of personal advice and related financial planning services to Hostplus members.

For all privacy related matters please call us on 1300 467 875 email privacy@hostplus.com.au or write to us via Reply Paid 84069 Carlton South VIC 3053.

Does Hostplus have Professional Indemnity Insurance?

Hostplus maintains Professional Indemnity insurance which covers the conduct of its Employee Representatives, including those who no longer work for Hostplus but who did at the time of the relevant conduct. We consider this cover is adequate to meet our requirements as a financial services licensee.

How do I get in contact with Hostplus?

  • Online: hostplus.com.au
  • All postal enquiries: Locked Bag 5046, Parramatta NSW 2124

For superannuation accounts:

For pension accounts:

What should I do if I have a complaint?

If you have a complaint about the service provided to you, please call or write to us.

For superannuation accounts:

  • Hostplus Resolution Officer,
    Hostplus Locked Bag 3
    CARLTON SOUTH VIC 3053
  • Tel: 1300 467 875

For pension accounts:

  • Hostplus Resolution Officer,
    Hostplus Pension
    Locked Bag 9
    CARLTON SOUTH VIC 3053
  • Tel: 1300 348 546

If you are not satisfied with our internal complaints resolution process, or Hostplus has not responded within 90 days for SCT matters, 45 days for Financial Ombudsman Services matters, or 30 days for privacy related complaints, you have the right to take your complaint to the following bodies:

In relation to superannuation matters:

  • Superannuation Complaints Tribunal (SCT)
    Locked Mail Bag 3060
    Melbourne VIC 3001
  • Tel: 1300 884 114 (local call cost in Australia)

Please note that there are certain criteria and time limits as to when a complaint can be lodged with the SCT.
If it is outside the jurisdiction of the SCT, you may have the right to take your complaint to:

  • Financial Ombudsman Services Ltd
    GPO Box 3
    Melbourne VIC 3001
  • Tel: 1300 780 808 (Local call cost in Australia)

In relation to personal information held:

  • Office of the Australian Information Commissioner (OAIC)
    GPO Box 5218
    SYDNEY NSW 2001
  • Tel: 1300 363 992
  • Online: oaic.gov.au

You can also contact the Australian Securities and Investment Commission (ASIC) on 1300 300 630 to find out which complaints scheme may be available to assist you in settling your complaint. The above services are free to you.

Download our Financial Services Guide as a PDF

1 Industry Funds Credit Control, IFS Insurance Broking Pty Ltd, Industry Fund Financial Planning Services and Industry Funds Management Limited are wholly owned subsidiaries of ISH.