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.
The ifa Excellence Awards are back in 2021 and nominations are now open! This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021!
The corporate regulator has cancelled the licence of a Queensland based SMSF advice firm that failed to lodge its financial accounts. ...
The Federal Court has issued BT and Asgard penalties of $1.5 million each for charging fees for no service and making misleading statements. ...
The wealth giant has announced a raft of further changes to its advice model, including the conclusion of client register buy-back arrangements for i...
Get notifications in real time and stay up to date with content that matters to you.
