REST to build financial advice division
Industry superannuation fund REST is building its own financial advice division, having appointed a new national advice manager to oversee the new in-house offering.
REST confirmed to ifa that the fund will be building its financial advice division "from the ground up", not previously having had its own advice proposition.
The industry fund for retail workers partnered with Link Group's financial advice business Money Solutions in 2005 to offer advice to its more than 2.2 million members.
According to the REST website, it still offers advice via Money Solutions.
To oversee development, REST has recruited Deborah Potts – who has held senior roles with ipac Financial Services and BT Financial Group – to the newly created role of national manager of advice.
Ms Potts will also be responsible for leading the provision of the industry fund's advice services.
The overall goal is to achieve a greater uptake of financial advice from among members, a statement from REST said.
"This is a new function which will significantly benefit our members," REST chief executive Damian Hill said. "Deborah has been working as a consultant at REST since October 2014 so she's already familiar with our business."
REST has also appointed two new general managers.
Beth Parkin, a former executive general manager of customer service at Travel Corporation Australia, has been appointed to the newly created role of general manager of customer service.
Ms Parkin will be responsible for managing operations services, insurance and technical teams while working with the super fund's service providers, Australian Administration Services and AIA Australia.
REST has also appointed former VicSuper head of fixed income Ronan Walsh as general manager of investments. He will be responsible for overseeing the investment governance functions and managing relationships with the fund's asset consultant, custodian and external investment managers.
Industry Super blasts ANU SG research
Industry Super Australia has slammed the recent ANU study questioning the need f...
Rate cuts ravage consumer confidence: Deloitte
The RBA’s successive rate cuts have led to “cratered” consumer confidence ...
More advisers considering crypto: Bitwise
More financial advisers are considering allocating to cryptocurrencies, despite ...