Is intrafund advice an adviser incubator?

superannuation funds Financial Adviser Standards and Ethics Authority FASEA Link Advice Duncan McPherson

16 November 2018
| By Mike |
image
image
expand image

Intrafund advice provided by superannuation fund administrators will continue to act as a conduit for financial planners entering the industry, even as the new Financial Adviser Standards and Ethics Authority (FASEA) regime gets put in place.

That is the view of Link Advice leader, Duncan McPherson, who told Money Management that he sees intra-fund advice provided by superannuation fund administrators such as Link continuing to bridge the gap which exists before members seek out face-to-face holistic advice.

“It is part of the answer to how you make advice more accessible and affordable,” he said.

Asked about the impact on the FASEA regime on intrafund advice, McPherson said he believed firms such as Link Advice should be regarded as an incubator for financial advisers entering the industry and ultimately moving up to become face-to-face advisers.

He said many of the people employed by Link to provide intra-fund advice were at university pursuing degree qualifications and that their involvement with clients over the phone and digitally was providing them with invaluable soft skills.

McPherson said he believed intrafund advice would continue to have its place in the FASEA environment acting as a bridge for those people who needed advice but were not looking for the cost or the engagement entailed in face-to-face advice.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 4 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 3 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

5 days 18 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

4 days 22 hours ago