Industry fund Legalsuper has partnered with Provisio to launch a personal advice service to its members.
The partnership will enable Legalsuper to quickly and efficiently model different superannuation strategies and provide personal statements of advice to members.
Legalsuper’s decision to deliver personal advice was a logical step for the fund and will be available to members at no additional cost, chief executive Andrew Proebstl said.
“Offering personal advice to Legalsuper members is another way to help them make better decisions about their superannuation,” he said.
“We have already had great success strengthening the financial sophistication of our members by providing them with information about their super through member education initiatives such as workplace seminars, direct mail and electronic communications.”
Proebstl said the fund’s member education initiatives have had a material impact on its members’ savings.
“Research tells us that our members view their super as a long-term form of savings and are less likely to be spooked by short-term volatility in the stockmarket, as was demonstrated through the recent global financial crisis,” he said.
Legalsuper has also recently commissioned a specialist research firm to conduct a study to gain deeper insights into its members’ views on what the fund should be doing to assist them with financial advice in future.
“This study is nearing completion and will provide valuable feedback and insights from our members to guide further enhancements to our financial advice model,” Proebstl said.
