Industry fund MTAA Super has launched a new free ‘limited’ advice service for members, indicating a trend away from holistic advice.
Describing the new service as “limited personal advice”, MTAA Super chief executive Leeanne Turner told ifa it is an opportunity to provide financial advice to members without “examining their whole financial situation”.“We identified a gap in our advice service – we’ve always offered general and comprehensive but we identified that the advice needs of our members had changed.“Members were calling for single-issue advice such as insurance or salary contributions; they wanted meaningful answers to these questions. We still do offer comprehensive advice on a comprehensive basis but demand for that is at the retirement planning stage.”Ms Turner said the industry fund will continue to provide “comprehensive advice” but that it does expect members to “have to go pay for holistic advice”. She also hinted at a new free online service aimed at engaging members more closely in their superannuation.
Comments powered by CComment
The FAAA emerged on Thursday as one of the most vocal critics of the government's QAR response, expressing significant ...
Minister Jones’ announced creation of a new class of advisers has partially overshadowed much sought after changes to ...
The FAAA says that advisers feel the AFCA complaints process is biased in favour of the consumer and they “bear a ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin