Sunsuper has recruited the Association of Financial Advisers (AFA) Chief Commercial Officer Anne Fuchs to the role of National Manager for Retail Distribution and Advice.
Fuchs joined the AFA six months ago after having run her own Brisbane based business, Pinnacle Practice, which provided specialist consulting to financial planning licensee and businesses.
At the AFA Fuchs was responsible for income generation and servicing AFA's commercial stakeholders including members, licensees and corporate partners and had previously consulted to the AFA on their strategic partnerships for four and a half years.
AFA chief executive Brad Fox said the association was disappointed in her departure but the Sunsuper role was "an outstanding opportunity, based in Anne's home city of Brisbane and we wish her all the very best".
Fuchs stated that she will remain supportive of the work of the AFA and the Your Best Interests initiative, which Fuchs helped to developed, "has the power to transform consumer confidence in advice".
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.