Club Plus offers in-house planning
Big industry fund, Club Plus is to offer an in-house financial planning service to its members.
The fund announced today that it had established a separate business entity, Club Super Plus Financial Planning that would be headed by Tracey McDonald and supported by an internal team and dealer group Mercer.
At the same time, the fund has announced it will be going public offer, enabling both the families of members and club patrons to join effective from the beginning of October.
Commenting on the financial planning move, Club Plus chief executive, Paul Cahill explained the in-house move by saying when it came to seeking financial advice, members of industry funds were hesitant to look externally.
“Club Plus Super will be providing a range of services suited to the individual circumstances,” he said. “We will provide both intra-fund advice as well as holistic financial planning advice.”
Discussing the move to go public offer, Cahill said that other than performance there were two main drivers for selection superannuation — cheaper management fees and the provision of professional and personal services to members.
“Club Plus Super is now providing the same level of financial advice as our retail fund counterparts, but we are doing it in our own way,” he said.
AUTHOR
Mike Taylor
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
