Over half of Vision Super's financial advice meetings with members have taken place in regional Victoria over the six months to 30 June 2015, the fund said.
During this period the fund's financial planners conducted 1,155 meetings with members, and conducted 2,422 meetings this year alone — an increase of 991 since last year.
Vision Super's chief executive, Stephen Rowe, said the growth reflected a recent drive by the fund to reach out to its members, through seminars and open days at workplaces.
"The results have been extraordinary — a 70 per cent increase in direct provision of advice," Rowe said.
"More and more Vision Super members are choosing to put their trust in our financial advice services."
Rowe noted there was a growing awareness among the community about trustworthy financial advice.
Vision Super is an industry fund for local government and water authority employees.
The Financial Services Minister says the amendments to the SIS Act within the first QAR bill will “clarify the law to affirm the status quo”.
Superannuation funds have thrown their support behind the QAR reforms but want a “clear statement” that they will not be required to check all member SOAs.
In its latest report, the corporate regulator says the deduction of advice fees has led to instances of “inappropriate erosion of members’ balances”.
Financial advice is having a significant impact on how Australians are engaging with the more complex aspects of their superannuation, new findings have shown.
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