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| Andrew Proebstl |
legalsuper has announced a partnership with software provider Provisio, through which the industry fund will offer members personal advice.
The agreement means legalsuper can model different superannuation strategies and provide personal Statements of Advice (SoAs) to members, the fund stated.
legalsuper chief executive Andrew Proebstl said the decision to deliver personal advice was a logical step for the fund, and would be offered at no additional cost to members.
There had been an increase in the advice offerings from super funds to members since the Australian Securities and Investments Commission (ASIC) last year decided to allow super funds to provide intra-fund advice, Proebstl said.
“We have already had great success strengthening the financial sophistication of our members by providing them with information about their super through member education initiatives such as workplace seminars, direct mail and electronic communications,” he said.
“Research tells us that our members view their super as a long-term form of savings and are less likely to be spooked by short-term volatility in the stock market, as was demonstrated through the recent global financial crisis.”
A study commissioned by legalsuper to better understand its members’ views on what they want from their industry fund is also nearing completion, Proebstl said.
