UniSuper makes key appointment to financial planning arm

UniSuper has appointed former BT Financial Group (BT) head of advice services Chris Davies to the new role of executive manager, financial planning, in preparation for the launch of its full-service financial planning arm this year.

UniSuper will be extending its services to include financial planning in response to an increasing demand for financial advice and superannuation regulatory changes.

The in-house financial advice will be on a "user pays" hourly rate, UniSuper executive manager, marketing and business development, Paul Murphy said.

According to Murphy, the number of planners would be "driven by demand", however, he estimated that the number would be "in the order of about 15", as well as paraplanners, support and research staff.

Murphy said the relationship between UniSuper and the financial planning firms it currently outsources some of its services to, including Industry Funds Planning, Hillross Financial Services and Monitor Money, was still in place "until such time we've filled the void with our own people".

Meanwhile, Davies will be responsible for a new team of financial planners as well as a national phone-based financial assessment centre.

Davies takes up the role in mid-May, with the new financial planning service to be progressively rolled out state-by-state from September, starting in Victoria and New South Wales.

A spokesperson said BT is still actively seeking to replace Davies.

In the meantime, John Pointon will step in as acting head of risk for advice and private banking.