LUCRF Super has announced it will soon introduce a financial advice service in a bid to improve member services, following in the steps of HESTA and other industry funds.
The announcement follows the Australian Securities and Investments Commission’s approval to extend the fund’s Australian Financial Services Licence.
LUCRF Super chief executive officer Greg Sword said the new licence would allow the fund to provide a higher level of assistance to its members in a cost effective and relevant way.
“One of the driving forces behind this decision was that during the GFC we noticed that 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.
