In a statement, the fund said scaled advice was an “effective and simple” way for Australians to access financial advice, and pointed to the 20 per cent year-on-year growth seen by the fund’s scaled advice offer as evidence of its growing popularity.
“UniSuper, which now has $10 billion of members’ funds under advice, expects the volume of scaled advice appointments to overtake comprehensive advice appointments in 2018,” the statement said.
“The uptake is being led by younger members, proving most popular with those in their 40s wanting insight into certain aspects of their financial position to plan for the future.”
According to UniSuper executive manager for advice and employer relationships Jack McCartney, the scaled advice model has allowed more Australians to seek financial advice.
“It’s important to make advice accessible, and available through various channels, for members and their families at all life stages,” he said.
“We have invested in our service model for this reason – opening more financial planning offices and broadening our digital and online support.”
I’m getting a job with these guys. bugger extra study!
Scaled Advisers are still advisers and have the same FASEA requirements.
Laws don’t matter to organisations that regulators are too scared to touch.
we should all move to industry funds for work
It has already begun
I wonder if their scaled advice conveniently doesn’t include the members insurance. In reality they would still need to refer to a Planner to deal with the members dreadful insurance – it just cant be ignored.
Scaled advice is scoped based on the member’s direction. The service does offers advice on member’s insurance.
vertical integration, just a non-bank brand
Scaled Advice. We just had a client that has been ‘advised’ by UniSuper to rollover their whole super balance to UniSuper without doing any assessment of the features of her existing super fund and using overstated fee assumptions in a Chant West after fee performance comparison. How is it possible that this is happening at the same time that adviser compliance standards are going through the roof ? A double standard that is playing into the hands of Industry Super funds and is clearly not in the interest of consumers. We have seen this behaviour from the banks and now the Industry Super funds are getting in on the act. Thank goodness for the Bank Royal Commission that will shine the line on both banks and industry super funds predatory behaviour.
The Industry Funds approach.. all or nothing… there is always a place for all of us to co-exist (I just wish that the Industry Funds could see this). From what I know, most people appreciate a real relationship not dealing with someone providing poor. Bring on Royal Commission and hopefully a LEVEL PLAYING FIELD!!!!!!
I 300% hope the Royal Commission does exactly that, Johnny. And that Government/regulators actually implement legislation that adequately deals with the issues uncovered. Unfortunately, there’s the strong likelihood that the recommendations from the RC will be “discussed” for an extended period..and the legislation introduced will be as effective as a pickle in a knife fight.
an IFA doing the same would have been banned for that.
Because as we know industry funds can do as they like.
Ok fine. But you all gotta sit the national exam and get the qualifications, every one of you on the phone, even if it’s just intra fund advice. O, ho-ho ho…
Fairly certain they will be scoped out in some way.
fairly certain of one thing, most of these clowns won’t pass and will fail that exam
i wont wait holding my breath to see if they are held to the same standard.