Sunsuper and FPA make advice referral deal
Industry public offer fund Sunsuper and the Financial Planning Association (FPA) have announced they have agreed to a national referral program.
The partnership is the second of its kind this year after the FPA announced it had agreed to a similar program with the Construction and Building Industry Superannuation Fund (Cbus) in July this year.
Sunsuper's executive general manager for growth and advice Michael Mullholland said the partnership would allow the fund to establish direct relationships with FPA professional practices, and would add to the in-house financial advice service available at the fund already.
"We have our own in-house team of advisers based in Brisbane, Sydney and regional Queensland, but as part of the new arrangement, we will be looking to work with FPA Certified Financial Planners over a much wider geographic base who will advise and act in the best interests of our members," Mullholland said.
The FPA will carry out an expression of interest process to all FPA professional practices to support Sunsuper, with the first referrals likely to start from January.
Many of Sunsuper's 1.2 million members will be connected to FPA professional practices and have access to advice from certified financial planners from across the country.
AUTHOR
Malavika Santhebennur
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
