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LUCRF content to stand alone
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| Greg Sword
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LUCRF Super is committed to its current client base and is content to stand on its own two feet without looking at consolidation with other funds, according to chief executive Greg Sword.
"Our view of the world is that we're pretty competitive, a lot of the bigger funds charge more than we do and we're doing pretty well," he said.
"There's no reason to think that having fewer big funds is going to be any better for consumers than having fewer bigger banks is."
LUCRF is also in the process of establishing an intra-fund advice service for members, with an option for personal advice for members who want it.
Most industry fund members only want or need simple advice around investing their super and transitioning to retirement, and their largest assets are their homes and super funds, Sword said.
Because there is little money to be made for advisers from these types of clients, it is important members can access this type of information from their super funds, he said.
LUCRF's call centre is up and running in a trial capacity, with a full launch expected sometime around early September after member statements have been sent out in August, Sword said.
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