Industry superannuation fund LUCRF Super has introduced a new personal financial advice service to its members, following ASIC's approval to extend its Australian financial services licence.
The new licence will allow the fund to provide a higher level of assistance to members in a cost-effective and relevant way, according to LUCRF Super chief executive Greg Sword.
"Broadening our financial services licence is a natural progression in our commitment to improve member services," he said.
"The fund already employs fully qualified staff including business development managers, financial advisers and contact centre specialists available to offer broad personal advice. We are proud to offer the new advice service in-house."
Sword said LUCRF was one of the first industry funds to successfully obtain its own financial planning licence under its current structure.
"One of the driving forces behind this decision was that during the global financial crisis we noticed some members made changes to their investments and looked to us for financial advice," he said.
"Our innovative approach features the majority of advice on super being provided as a free, integrated service. More intricate financial advice may attract a fee, however this will be limited only to what is necessary."
