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ESSSuper puts financial advice to tender
ESSSuper has announced a request for tender for the provision of financial product advice to its superannuation members.
Its current arrangement with Industry Super Network's Industry Fund Financial Planning (IFPP) will draw to a close in mid-2013, and ESSSuper said this provided it with the opportunity to "refresh [our] advice proposition to members in light of recent developments in the industry".
It said a strategic review and member research had identified a significant ongoing demand for financial product advice.
The tender stipulates the provision of advice as well as training, support, systems and licensing of a number of the fund's employees to enable them to provide advice - full, limited or scaled, depending upon the licensee.
It also called for the provision of an on-line advice offering enabling members to access reference material, calculators and limited advice across a range of pre-determined scenarios, or the licensing rights for the fund to provide its own.
The 144,000 member-strong fund has assets in excess of $17 billion.
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