Done well, quality financial planning can help an individual take control of their financial wellbeing, helping to promote good financial decision making and achieve personal goals.
For superannuation funds, financial advisory services provide a potentially deep and rich pathway to connect more intimately with fund members, driving better engagement levels and member loyalty to the fund.
But getting the right mix of advice services, and investment in supporting infrastructure, can lead to some multi-faceted decision making.
This is why a successful public sector superannuation fund sought Rice Warner’s consulting services to review its financial advice services model.
The fund sought to determine the level of current and future resourcing required across various advice channels to ensure they could deliver effective and efficient advice to members.