Super administrator to offer holistic advice
Australia’s largest superannuation administration firm, Link Group, has signalled it is moving into the holistic advice space with a rebrand of its advice provider, Money Solutions, to Link Advice.
The rebrand, effective from 1 July, will move from intra-fund phone advice to a more holistic offering including digital solutions and access to face-to-face advice services, Link announced.
Money Solutions chief executive, Ross Bowden, said the advice trend was on a growth trajectory and that funds should explore their advice offering to avoid being left behind.
“Scaled financial advice is no longer just a bolt-on for superannuation funds, it is an integral part of member engagement and member services,” he said.
“Super fund members in the future will access advice at the moment they need it, via the channel they choose, and Link Advice is committed to making this happen.
“For most people, superannuation is their second most valuable asset after the family home. Yet, when you consider that around 90 per cent of women will retire with inadequate savings to fund a comfortable lifestyle in retirement, it becomes clear that advice is necessary.”
Link said the company currently services 15 major super funds and delivers over 30,000 pieces of phone advice a year, and expects this to increase to 50,000 in the next three years with a focus on retirement advice.
In December 2014, Link Group, which was already operating Australian Administration Services (AAS), took over the management of Superpartners to provide member administration to super funds AustralianSuper, HOSTPLUS, HESTA, Cbus, and MTAA Super.
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