Quadrant First is expanding its member services to facilitate the delivery of scaled advice.
Quadrant Super chief executive Wayne Davy said the financial planning business had the ability to provide a full advice service and intra-fund advice, but they were going over the Future of Financial Advice (FOFA) legislation to develop a scaled advice model.
He said they were also poring over the Australian Securities and Investments Commission (ASIC) consultation paper on scaled advice, released this month.
"We're just working through all the regulatory space and developing a full plug-in arrangement for a super fund to be able to offer scaled advice efficiently and effectively and making sure all the FOFA obligations are met," he said.
He said Quadrant First was developing a structure for authorisations, adviser training, compliance and disclosures while considering their technology needs in developing its Statement of Advice (SOA) and ensuring the system was "robust".
Davy said access to an effective advice model was as important as developing a MySuper product in delivering retirement solutions to members.
"We're certainly keen to pick up other funds and offer a plug-in arrangement to enable them to have a scaled advice delivery arrangement which we think is just as important as having a good MySuper product. You have to have an equally affective advice delivery model going forward," he said.
Davy said Quadrant First used XPlan and had recently adopted IRESS's Engage software, which assisted the delivery of intra-fund advice.
IRESS's senior business development executive Michael Kinens said Engage was a "simple, client-friendly wrap" for the company's "cashflow modelling capabilities".
Davy said Quadrant First would be ready to deliver intra-fund advice in time for the legislation to kick in, although the final regulatory guide would not be released until towards the end of the year.
"That's the challenge for every fund to be able to offer that (intra-fund) range, and it also intersects well with the Stronger Super reforms as to what you can and can't charge for the fund and how you deliver that in conjunction with the fund," he said.
