The (ASFA) has confirmed that it is developing a position paper covering the provision of financial advice to members of superannuation funds.
ASFA policy director said the development of the position paper had been prompted by the ongoing debate over the provision of financial advice to superannuation fund members and the manner in which that advice is paid for.
ASFA’s review of the issue comes as sectors of the industry funds movement continue their calls for legislation to be introduced to prevent Superannuation Guarantee contributions being used to pay financial planners.
The union campaign was begun in 2005 when the secretary of the ACTU, , said there was a danger the choice of superannuation fund regime would use the new regime to gain more in commissions and fees.
It is understood the relationship between superannuation and financial planning and the manner in which planners are remunerated would be the subject of a number of submissions to the next Parliamentary inquiry into superannuation.
