In a joint statement, the companies said the nine-month pilot will begin next month and will be available to ING Direct Living Super customers who have asked for “comprehensive” financial advice from a CFP professional within an FPA Professional Practice.
The first FPA adviser consultation will be at no cost to the customer. Only a limited number of places for FPA Professional Practices will be available in the pilot stage, and will be based on geographic requirements, the statement said.
ING Direct national partnership manager of residential and wealth Tim Hewson said: “In recent years, we’ve seen an uptick in super consolidation and switching and increased demand for transparency and control. Australians want to get ahead with their super, which aligns with our proposition about helping our customers to get ahead through value, fairness and transparency.
“We see professional, independent, face-to-face financial advice as increasingly important to our customers in preparing for retirement, and we’re delighted to be able to offer this service as more Australians take up Living Super.”
FPA chief executive Mark Rantall said: “The ING Direct partnership agreement has been modelled on the successful Cbus advice referral program and will help the FPA open more pathways to connect Australians to quality financial advice.
“I am very happy that we have been able to reach this agreement with ING Direct as it strengthens our ties with the superannuation sector and brings us one step closer to achieving the FPA’s vision that, through our members, we stand with Australians for a better financial future.”
