Demand for specialist advice services has enabled one super fund to reach a record high $13 billion funds under advice.
UniSuper, the $80 billion super fund for the higher education and research sector, recently reported a record $13 billion in funds under advice.
The fund runs a unique advice model, employing over 95 financial advisers and general advice consultants nationally, providing advice across super, insurance and retirement strategies and products.
Growth in the brand has been spurred by inflows from SMSFs, take-up of its personal offerings and increased access to specialist services via several dedicated member centres.
In response to this demand, the fund has expanded its member centres around the country and operates 10 centres on-campus.
Jack McCartney, chief financial advice at UniSuper, said the groups funds under management had grown by 14 per cent in the last year alone and was up from $3.5 billion five years ago.
“We are thrilled that more and more members are seeing the value in advice. With service and individual outcomes at the forefront, profit-for-member models provide a unique offer that is resonating strongly in the current environment,” Mr McCartney said.
He said its members were starting to move into retirement and UniSuper was there to support them.
“We are on track to continue this growth trajectory over the coming five years. As we grow, we are exploring additional avenues to offer face-to-face advice to more members, particularly in regional areas,” Mr McCartney said.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]
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