Major retail industry superannuation REST has announced it will insource its general advice services.
The fund announced the insourcing today stating that the move would help the fund connect with members more effectively.
The fund said it was it was currently recruiting regional managers to lead the relationship management of large employers with a new team formed within REST’s advice and education team to provide phone-based general advice services to members.
The fund’s announcement said the team would support members according to their needs, whether it was providing them with information, directing them to online tools or booking them in for a session with the fund’s personal advice team.
General advice needs have conventionally been handled by super fund administrators.
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.
New research from ART has found less than a third of women feel their superannuation is in a good position, reiterating the importance of opening up the advice arena to super funds.
Add new comment