Under the terms of the deal with IFS, Infocus advisers will provide face-to-face advice services to First Super members in South Australia in their private homes on a fee-for-service basis.
“Everyone deserves a secure financial future, but getting access to the right financial advice can be challenging for many people who may not have the time or resources to find – and travel to – a good financial planner,” said First Super CEO Bill Watson in a statement.
“We want to help our members get easier access to the right financial advice.
“This is a unique offering. We believe that no other super fund provides a personalised financial advice service delivered to where their members live.”
The two organisations have plans to roll the deal out nationwide following the trial in SA.
I’m sorry but this article is misleading. What is should say is that First Super has managed to align a previously non-institutional dealer. Why? I’m sure that as part of the deal Infocus wouldn’t be encouraged (to say the least) to give the advice that a client should move away from First Super. So they have effectively become institutionalized, its just a different type of institution.
If the members don’t have the resources nor the time to prioritise their financial well being, how does Infocus intend to keep the lights on at the office dealing with that kind of apathy.
I don’t hear of many accountants or lawyers making house calls on disinterested parties? And yet funnily, if a home loan were involved, I am envisioning the client crawling over broken glass and dead bodies to get to the appointment.
Can I assume that means Infocus advisers will be able to charge member’s super funds for advice, but us non-Infocus advisers won’t be able to?
AustralianSuper have been outsourcing their Advice for regional clients for a number of years. Clients pay a fee and most meetings occur at their homes. Nothing new here.
this will be interesting, i wonder what will occur when the adviser recommends so a strategy that doesn’t involve their super product such as may leveled insurance premium inside super or more active direct share portfiolio