REST considers planning venture
Retail industry superannuation fund REST is actively examining options for the provision of financial advice to members.
REST chief executive Neil Cochrane says the board is considering a number of different options with respect to financial advice with the issue being impacted by the fund's relatively young demographic.
Cochrane says that REST has a high level of relatively young members but also needs to consider the needs of older members.
He says that the advent of choice of fund will impose tougher competition on industry superannuation funds and that not only fees but the quality of service will become an issue.
Cochrane says that while lower fees will continue to be an important point of differentiation for industry funds, the quality of the service they offer members will also need to enhanced.
“It is not just about returns but value for money," Cochrane says.
He says that REST has been competing with master trusts for some time via its own platform, Acumen, and he believes it can continue to do so in the new environment.
AUTHOR
Mike Taylor
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