Another industry superannuation fund has moved to expand the delivery of intrafund advice.
Legal profession-focused super fund, Legalsuper has announced that it has extended its partnership with major administrator, Link Group, to deliver a new digital intra-fund advice service to members via Link’s Super Blueprint product.
Link describes the Blueprint product as “condensing complex financial concepts into comprehensible and accessible advice for superannuation fund members”.
“Integrating into Link Group’s registry system, Super Blueprint prepopulates the member’s legalsuper information making it easier for them to generate their own advice,” the announcement said.
“With over 10 years of experience and continual learning, Super Blueprint takes a personalised approach to delivering advice specific to member interest topics such as investment choice, insurance, projected retirement needs and contributions.”
Commenting on the move, legalsuper chief executive, Andrew Proebstl said the fund was continuing to focus on providing members with access to information and advice to help them make the most out of their super and retirement.
He said that the algorithm underpinning the Blueprint offering had undergone rigorous, independent testing by a global actuary to provide personal intra-fund advice to superannuation fund clients and their members.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
Cbus Super has unveiled Advice Essentials Plus, a new service offering affordable financial advice to both members and their partners.
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.
The QAR lead reviewer has told a Senate committee that the government’s demands of super funds conflict with their original purpose.