POWERED BY MOMENTUM MEDIA
REST announces insourcing of general advice services
Major retail industry superannuation REST has announced it will insource its general advice services.
The fund announced the insourcing today stating that the move would help the fund connect with members more effectively.
The fund said it was it was currently recruiting regional managers to lead the relationship management of large employers with a new team formed within REST’s advice and education team to provide phone-based general advice services to members.
The fund’s announcement said the team would support members according to their needs, whether it was providing them with information, directing them to online tools or booking them in for a session with the fund’s personal advice team.
General advice needs have conventionally been handled by super fund administrators.
Recommended for you
The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
5
Plato Global Alpha A
28.83 3 y p.a(%)
