By registering with Sunsuper you agree that you:
- have read and understood these Terms and Conditions; and,
- have considered these Terms and Conditions in accordance with your other legal obligations; and,
- understand your Adviser Online password is yours only, and that you are at all times solely responsible for ensuring the security of it.
Nothing in these Terms and Conditions is intended to exclude, restrict or modify:
- the application of any provisions of The Australian Consumer Law in the Competition and Consumer Act 2010, the Corporations Act 2001, the Australian Securities and Investment Commission Act 2001 or any equivalent State and Territory legislation;
- the exercise of any right conferred by such provisions or Sunsuper's liability for a breach of a condition or a warranty implied by such a provision.
- In the event of inconsistency with any such provision or with any other law, these Terms and Conditions will be read down accordingly.
1. Terms and Conditions
This document sets out the terms and conditions for Adviser Online and the payment of Advice Fees from a Sunsuper member's account.
2. Meaning of Terms
References in this document to 'Fund' are to Sunsuper Superannuation Fund ABN 98 503 137 921. References in this document to 'Sunsuper' are to Sunsuper Pty Ltd ABN 88 010 720 840 as trustee for the Fund. 'We', 'us' or 'our' refers to Sunsuper and/or the Fund as the context requires.
'Adviser/s' and 'Financial Adviser/s' refers only to persons who hold a financial adviser/authorised representative number given by ASIC.
'Adviser Online' is the online service that Sunsuper provides to financial advisers for accessing information regarding their clients who are members of Sunsuper.
'Adviser Online Access' means the permission (including ongoing permission) Sunsuper applies to a financial adviser after logging into Adviser Online.
'Advice Fee/s' includes any fee payable by a Sunsuper member to a financial adviser for the provision of personal financial advice.
'Advice Fee Payment/s' means a payment of an Advice Fee by Sunsuper to a Financial Adviser that Sunsuper deducts from the member's account in the Fund.
'You', 'yourself' and 'your' may refer to the Financial Adviser permitted access to use Adviser Online. Any references to 'you', 'yourself' and 'your' includes a reference to any third party you have authorised to use your Adviser Online Access with the intent that you shall be liable for any use of your Adviser Online Access and for any failure on the part of any such third party to observe these Terms and Conditions.
3. Accepting these Terms and Conditions
You accept and agree to be bound by the Terms and Conditions by submitting a Financial Adviser registration or by accepting changes on any subsequent occasions which Sunsuper has notified you.
4. Continued Application of Terms and Conditions
Sunsuper may vary these Terms and Conditions at any time without prior notice to you. Sunsuper will provide written notice in Adviser Online or any other reasonable method. If you use Adviser Online after a notice has been given, you will be taken to have accepted all variations in the Terms and Conditions. Any help files and on screen notices found in Adviser Online form part of the Terms and Conditions to the extent relevant.
If you do not agree to the Terms and Conditions in Adviser Online, Sunsuper may cancel your Advice Fee Payment arrangements.
5. Cancellation of Services
These Terms and Conditions will cease when you are no longer registered as a Financial Adviser with Sunsuper. Your registration will remain valid until Sunsuper has cancelled it. Sunsuper will cancel your registration if:
- you have contacted us to instruct cancellation; or,
- Sunsuper has been notified that you have changed Practice or changed AFS Licensee; or,
- Sunsuper has reasonable grounds to suspect usage that is fraudulent or not within the Terms and Conditions or there are other security reasons sufficient to require cancellation.
This is not an exhaustive list and Sunsuper may, at any time without notice, cancel your registration and related services.
Sunsuper reserves the right to cancel your registration if you have changed Practice or changed AFS Licensee, and you acknowledge and understand that this may result in the expiration of all existing authorities you hold on Sunsuper member accounts.
Sunsuper encourages you to contact us if you have changed Practice or changed AFS Licensee so that you can be assisted with a smooth re-registration process.
Sunsuper will use all reasonable efforts to ensure that services specific to your registration (e.g. Adviser Online and Advice Fee Payments) are available at all times. Sunsuper will not be liable for or in connection with:
- failure of a service to perform, in whole or in part, any function which we have specified it will perform;
- the unavailability of a service to you, in whole or part, because of the failure of any communication network, ancillary equipment or any circumstance beyond our reasonable control, or;
- delays or errors in the execution of any transaction, information content or instruction because of the failure of any communication network, ancillary equipment or any circumstance beyond our reasonable control.
7. Adviser Online
Sunsuper will use all reasonable efforts to ensure that the information displayed in Adviser Online is without errors and corrections are made promptly. Sunsuper will take all reasonable precautions to protect the confidentiality of the information held in Adviser Online.
7.1 Access and Security
Adviser Online allows a Financial Adviser to access information regarding their clients who are members of Sunsuper. By logging into Adviser Online, you agree that you will:
- only access client information you are properly authorised to access; and,
- notify Sunsuper immediately if you have been provided access to any client information that you should not have access to.
You agree that the client information you access will only be used for lawful purposes, and that Sunsuper may cancel your access to Adviser Online at any time and without prior notice.
Sunsuper will provide Financial Advisers with a temporary password which will require changing the first time it is used to login to Adviser Online. To maximise the security of your client's information, you should regularly change your Adviser Online password.
Sunsuper will never ask you for your password except to log into Adviser Online. You must ensure at all times that:
- your password is kept secure and not disclosed to anyone; and,
- you do not by any other action or omission allow any person other than yourself to access your client's information or effect any transactions relating to Adviser Online.
- protect your password from being lost, stolen or disclosed;
- log off immediately after you have finished accessing Adviser Online.
You must not:
- keep a written record of your password;
- give, show or tell your password to anyone;
- allow any person to read or hear your password, or watch you enter your password.
You acknowledge that:
- you understand that your password allows anybody access to personal information and effect any transactions permitted by Adviser Online. Leaving your computer unattended while logged into Adviser Online may lead to these consequences;
- you authorise Sunsuper, when access to Adviser Online has been gained following the successful entry of your password, to treat any operations involving your Adviser Online Access (whether involving access to all information or the effecting of any transactions) as having been personally authorised in writing by you;
- Sunsuper are under no duty whatsoever to enquire or establish if a person accessing Adviser Online is a person actually authorised; and
- you understand that no data transmission over the internet can be guaranteed as totally secure and that, while Sunsuper will take all reasonable measures to protect the security of such information, Sunsuper cannot ensure or warrant the security of any information transmitted using Adviser Online.
If you suspect that your password may have become known to any other person, or that for any reason another person may have been in a position to access Adviser Online on your behalf, you must ensure that:
- your password is changed; and,
- you inform us immediately on 1800 142 470
7.2 Currency and Accessibility
You acknowledge that:
- all information available through Adviser Online may not always be current;
- any transactions effected via Adviser Online may take some time to process; and,
- the services and functions offered through Adviser Online may not all be available at all times.
You agree that you are solely responsible for all use of your Adviser Online Access, including all information accessed, any transactions made, and any breach of these Terms and Conditions.
You agree that all use of Adviser Online will be for lawful purposes only.
You accept full responsibility and indemnify us for any claims arising from expenses, loss or liability that is incurred as a result of Adviser Online and your Adviser Online Access.
Without limiting paragraph 7.3a, you understand that you are liable in respect of access to all information and any transactions made:
- when access to Adviser Online has been gained following the successful entry of your password;
- if you disclose your password to another person or fail to keep it properly secure; or,
- if by your action or omission, an unauthorised third party has gained access to Adviser Online following the successful entry of your password.
For the purpose of clause 7.3a and 7.3b and any other misuse of your Adviser Online Access, you will continue to be liable in relation to all information accessed or any transactions effected up until the time you notify Sunsuper on 1800 142 470 that:
- the password may have become known to someone not entitled to know it, or;
- unauthorised Adviser Online Access may have been gained in some other way, and;
- Sunsuper has had a reasonable opportunity to take appropriate security measures.
You will not be liable for unauthorised access to, or any transactions effected upon, Adviser Online Access following correct entry of your password if all of the following apply:
- you were in no way responsible for the password becoming known to, or Adviser Online being used by, an unauthorised user;
- you were not otherwise in breach of these Terms and Conditions;
- you have otherwise acted honestly and reasonably and taken all due and proper care in the use of Adviser Online and your Adviser Online access;
- you fully co-operate with us and assist in investigation the circumstances that may have resulted in the unauthorised access of an unauthorised transaction.
Nothing in this clause 7.3d is to be taken as imposing a duty or obligation on Sunsuper that would not otherwise apply.
Sunsuper is not liable for:
- reliance by anyone on information obtained through the use of Adviser Online and your Adviser Online Access;
- any failure by Adviser Online to provide information or perform operations requested, or any delays;
- any amount of loss or damage, except in the event of our negligence, fraud or deliberate misconduct;
- indirect or special loss or damage however caused, including as a result of negligence;
- consequential loss or damage suffered as a result of using Adviser Online;
- unavailability of Adviser Online; or,
- any events whatsoever beyond Sunsuper's control.
8. Advice Fee/s
8.1 Sunsuper's sole purpose test obligations
Sunsuper is required to meet the sole purpose test prescribed in the Superannuation Industry (Supervision) Act 1993 in respect of all payments from the Fund, including Advice Fee Payments.
Sunsuper relies on the co-operation of Financial Advisers to help ensure Sunsuper does not breach the sole purpose test. This is a matter of critical importance to Sunsuper because any breach of the sole purpose test may jeopardise Sunsuper's RSE Licence.
Under the sole purpose test, Sunsuper may only apply Fund money for the purpose of providing members with benefits at retirement or in other limited allowable circumstances including payment of death, total and permanent disability or income protection insurance benefits.
Sunsuper may apply Fund money to support certain member services that are consistent with the sole purpose test, such as financial advice about a member's benefit in the Fund including investment, insurance, contributions, beneficiary nomination and pension arrangements in the Fund.
8.2 Sunsuper's policy for Advice Fee Payments
Sunsuper's policy is to make Advice Fee Payments to financial advisers from Sunsuper member accounts where:
- the member provides written consent to the payment of the Advice Fee from the member's account in the Fund, and;
- the personal financial advice for which the Advice Fee is payable relates to the Sunsuper member's benefits and interests in the Fund.
Participation by Financial Advisers in this programme is at Sunsuper's discretion, and Sunsuper will notify you if your registration has been accepted. Sunsuper also retains discretion to, in any particular case:
- refuse to make an Advice Fee Payment; or
- make an Advice Fee Payment of part only of the Advice Fee invoiced,
for any reason and without giving any reasons.
Where Sunsuper has made an Advice Fee Payment to a Financial Adviser and Sunsuper suspects that the Advice Fee was charged (partly or wholly) for financial advice that was not consistent with the sole purpose test, then Sunsuper may request the adviser to supply evidence demonstrating that the advice was consistent with the sole purpose test, and may:
- request the adviser to refund the Advice Fee Payment for re-credit to the Sunsuper member's account, and/or;
- refuse to make any further Advice Fee Payments to that Financial Adviser in respect of that member and any other Sunsuper member advised by them
Sunsuper will periodically review requests for Advice Fee Payments submitted by Financial Advisers, with a view to assessing whether there are grounds to suspect that requests have been made for advice which was not consistent with the sole purpose test. For this purpose, subject to the Sunsuper member's consent, a copy of the complete Statement of Advice containing the financial advice for which the Advice Fee was charged may need to be provided to Sunsuper.
Further information about how Sunsuper manages its sole purpose test obligations with the payment of Advice Fees to Financial Advisers through deductions from Sunsuper member accounts is detailed in Advice fees and Payment of fees and FAQ’s.
9. Privacy of Financial Adviser information
The purpose for which Sunsuper is collecting your information is to administer requests for Adviser Online Access and Advice Fee Payments in respect of your clients who are Sunsuper members. If the information requested is not provided, Sunsuper will not be able to register you as a Financial Adviser.
10. Further information
You can contact us by: