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NGS Super appoints advice partner
Industry superannuation fund, NGS Super, has appointed Guideway Financial Services as its financial advice partner as part of its future growth strategy.
NGS said a key objective of its strategy was to provide members with an omni-channel advice solution which was responsive and agile.
Guidway will provide NGS Financial Planning with a bespoke advice solution using responsive financial planning solutions.
Commenting on the appointment, NGS executive manager, customer, Dascia Bennett, said the partnership would help reach new members and drive customer engagement.
"Our goal is always to help members secure their financial futures. This is achieved by understanding their goals and ensuring that they make appropriate financial decisions to secure their future from a whole of wealth perspective," Bennett said.
"A key part of this is making sure members have access to quality and professional financial advice. The benefits will be significant because this will mean the availability of a more agile, complete and cost-effective financial planning service to members.
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The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
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.
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