UniSuper's advice offices have been accredited under the Financial Planning Association (FPA) Professional Practice program, the first profit-to-member fund to do so.
Under the program, each office is required to demonstrate the highest professional and ethical standards, through a commitment to the FPA code of professional practice and a majority of advisers in each office holding a certified financial planner or CFP designation.
UniSuper's executive manager for advice, Jack McCartney, said the accreditation means its advice offices are a trusted environment for members seeking professional tailored advice across a broad range of topics.
"We've built our national advice footprint in response to increased demand from members for professional advice that covers not just superannuation-related topics but broader financial issues such as investment strategies, wealth accumulation, insurance or retirement, and estate planning," he said.
"Our membership base is unique, they are engaged, well-educated and we have privileged access which enables us to design products and solutions — such as our open defined benefit division — specifically for our members.
UniSuper advice is fee for service and avoids any commissions for recommending investment strategies or insurance products.
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.