Members prefer face-to-face financial advice: UniSuper

Members prefer face-to-face financial advice: UniSuper

UniSuper members still prefer face-to-face financial advice, despite the rapid growth in automated services, the superannuation fund has said.

According to a statement yesterday, UniSuper offers its members a “comprehensive financial planning solution”.

The fund has nearly 50 financial advisers nationally providing members advice on superannuation, investments, insurance and retirement, the statement said.

Across that network, however, more than 50 per cent of initial advice appointments are face-to-face, said UniSuper executive manager for advice Jack McCartney.

“While phone-based and digital scaled advice have a place, for members wanting to discuss more complex needs or approaching retirement, there is a clear preference to have these discussions in person,” Mr McCartney said.

“We know that around half of all adults in Australia have unmet advice needs with many lacking the knowledge, time or confidence to seek financial advice. Building a relationship face-to-face can quickly help overcome these barriers.”

And it’s not just pre-retirees seeking face-to-face meetings, Mr McCartney added, with this trend also growing among younger members.

Member demand for initial advice appointments is up 20 per cent year-on-year, while ‘review advice’ – where advisers review existing plans – is up 70 per cent.

Demand for these reviews is spiking as members prepare for the upcoming superannuation changes, UniSuper said.

“An increasing number of Australians who are looking for financial advice are first turning to their super fund and for UniSuper, our core goal is that when members are seeking advice we have a service offering and a channel that is right for them,” Mr McCartney said.

“What we are seeing is that the ‘right’ channel is more often than not face-to-face.”

 

Members prefer face-to-face financial advice: UniSuper
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