POWERED BY MOMENTUM MEDIA
Kinetic launches intra-fund advice service
Industry super fund, Kinetic Super, has launched a new intra-fund advice service that it says will allow members to receive limited financial advice about their account.
Kinetic chief executive, Megan Bolton said the service would allow members to access limited personal financial advice on insurance cover, contributions or making an investment choice within their Kinetic Super account and would be provided at no additional cost as part of their membership.
"We want to encourage members to take an active approach with their super," she said. "Intra-fund advice gives Kinetic Super fund members access to financial advice about their super account, providing support and confidence to make informed decisions."
The service will be provided and licenced under the AFSL of Industry Fund Services (IFS) and delivered by IFS authorised representatives operating within Kinetic Super's "Member Experience Team" either over the phone or face-to-face.
"This service is an extension of the current service provided to all members who are increasingly seeking advice in areas such as insurance, investment choice and contributions," Bolton said. "The cost of providing intra-fund advice is factored into the current fund fees, which means it's available to our members at no additional cost."
Recommended for you
While the Financial Advice Association Australia said it supports a performance testing regime “in principle”, it holds reservations about expanding this scope to retirement products.
In a Senate submission, the Financial Services Council said super funds should be able to nudge members on engaging with their super and has cautioned against default placements.
The Joint Associations Working Group, which counts FSC in its ranks, has issued an urgent warning to the government.
Senator Jane Hume will join the speaker lineup at the inaugural Australian Wealth Management Summit.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment