Industry superannuation fund LUCRF Super has been granted an Australian Financial Services Licence and has announced it will soon introduce a financial advice service.
LUCRF Super chief executive officer Greg Sword said the new licence would allow the fund to provide a higher level of assistance to members in a cost effective and relevant way.
“One of the driving forces behind this decision was that during the [global financial crisis] we noticed some members made changes to their investments and looked to us for financial advice,” Sword said.
“Our innovative approach features the majority of advice on super being provided as a free integrated service. More intricate financial advice may attract a fee, however, this will be limited only to what is necessary,” he added.
