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UniSuper upgrades advice centres
Universities and higher education-focused super fund, UniSuper has announced an upgrading and expansion of its advice-related member centres across the country.
The super fund said it had not only upgraded the member centre at its Melbourne head office, but that each of its offices around Australia now had a dedicated advice area.
The fund's executive manager, Advice and Employer Relations, Jack McCartney said the concept for each of centres grew out of the need to provide members with a confidential and convenient venue to meet.
He said UniSuper members were in the business of helping others become their best and therefore understood the importance of an expert opinion, especially when it came to planning for the future. "Receiving industry best-practice advice within brand new, first-class surrounds gives them confidence in knowing they are preparing themselves for an extraordinary life now - and into the future," McCartney said.
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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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