QSuper has consolidated its various financial advice teams into one segment, while its chief of advice has departed.
The industry fund has made the changes following a decision in July to overhaul its advice offering.
QSuper chief executive Michael Pennisi said the group had monitored the advice needs of its members to form a new model that was timely and affordable.
He added moving all the advice teams from across the group into one division would ensure a coordinated approach to the delivery of QSuper’s general and over-the-phone personal advice services.
As a result of the restructure, QSuper’s chief of advice Kim Hughes left the fund on 9 October. She is reportedly taking time off with her family, while looking for her next role.
“Kim has been a valued member of the group’s senior management and my executive team for more than five years in roles that have been instrumental in delivering industry-leading outcomes and services for our members,” Mr Pennisi said.
Prior to leading QSuper’s advice business, Ms Hughes led the life insurance business, the group’s life insurance business, call centre and operations divisions and drove its product and service strategy.
She commented: “As the industry continues to evolve, I have no doubt that the QSuper Group is well positioned to continue providing Australians with financial wellbeing and security in their retirement.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
The architect of the Retirement Income Review (RIR) has hit back at critics and accused former prime minister Paul Keating of sowing fear ov...