Emergency services and Victorian government employees superannuation fund ESSSuper will step up its limited advice and education offering on the back of the federal government's recent intra-fund advice changes.
"Currently we use Industry Funds Financial Planning and have three embedded planners, but we are planning to grow this number," ESSSuper member relationships general manager Michelle Boucher said.
ESSSuper is also looking to make changes to its education programs.
"We are introducing more diverse seminar programs and more specific financial planning seminars that go a bit further," Boucher said.
She said ESSSuper had a large percentage of older members with large balances, so the fund needed to expand its limited advice offering to better cater to those members.
"Over the next five years over 70 per cent of our members will be in the retirement phase," she said.
"We are trying to change the perception amongst our members that commission-based advice is cheaper because there is no upfront cost. We are pushing to change the view and show that with our advice model it is what you see is what you get."
In July, the government and ASIC announced that superannuation funds would be allowed to provide limited financial advice to members.
