Start the new year with a financial plan that will put you on track for every stage of life

5 January 2018

Many Australians will start the new year with resolutions to get their finances in order but what they might not realise is they can get comprehensive, personalised financial advice via their super fund.

Cbus Head of Advice and Retirement Greg Harper said that Cbus is proud to offer an advice service where members can receive straight forward advice over the phone right through to comprehensive personalised financial advice provided by a CERTIFIED FINANCIAL PLANNER® (CFP®) professional.

“It’s important to us that our members can get advice they can trust, close to home, to help them make the right decisions for their personal circumstances no matter what stage of life they’re at,” Mr Harper said.

“With research[1] showing that more than half of all Australians are looking for financial advice on retirement planning, budgeting and insurance, it is more important than ever for superannuation funds to offer personalised member advice services.

“Whether it’s advice to get finances under control and manage mortgage or credit card debt right through to replacing the pay packet at retirement, our members can access professional advice and assistance with their financial affairs.

“The New Year is as good a time as any to pick up the phone and make the first call to get your finances in order and take the stress away.”

Mr Harper said that for Cbus members and their partners who are seeking comprehensive personal financial advice, the innovative partnership with the Financial Planning Association (FPA), allows them to access advice from a CFP® professional operating within the FPA Professional Practice network. To date, the program has been a success with more than 3000 members utilising this service.

“Our advice service is clearly valued by members with more than 96% providing positive feedback,” Mr Harper said.

“That satisfaction is reflective of the fact the service is designed for them with only their interests in mind. Cbus is proud of that.”

Financial Planning Association CEO Dante De Gori CFP® said the Cbus and FPA Member Referral Program is delivering great value for people seeking a deeper understanding of their financial circumstances and options available to them.

“We’re extremely pleased that Cbus has entrusted CFP® professionals in FPA Professional Practices to give financial advice to its members. These financial planners are totally aligned with the service criteria of the referral program,” Mr De Gori said.

“CFP® professionals have been connected with thousands of Cbus members right across Australia in all states and territories, and have provided advice across the full spectrum of personal financial planning.”

Mr Harper said that getting the right performance planning measures in place at an operational level is central to providing advice that is always in the best interests of members.

“We hear about various conflicted performance measures and incentives that drive the wrong behaviour, and advice that isn’t strictly in the best interest of the member,” Mr Harper said.

“Our entire model from start to finish is accountable, non-conflicted and designed in members’ best interests.”

The agreement with the FPA allows for members to meet with an accredited CFP® professional who meets strict professional qualification and service criteria set by Cbus and the FPA, who can offer advice on a fee-for-service basis and without product incentives for the financial planner.

The fact finding meeting is at no cost, and any fees for advice are agreed with the member in advance. Members may be eligible to have the financial planner payment fees deducted directly from their Cbus account.

[1] Investment Trends, 2017 Financial Advice Report (available upon request)