WA-based superannuation provider GESB has launched a free, simple advice service that will provide its 310,000 members with information on investment choice and co-contribution.
The phone-based service aims to improve the financial well-being of its members by providing specific information on what plans suit them best and ways that they can make co-contributions or salary sacrifice into the fund.
"It will help our members take steps to control their financial future by providing a personalised recommendation designed to help them build their long-term financial well-being," GESB head of wealth management Fabian Ross said.
This service augments GESB's current fee-for-service financial planning service and a broad range of free member education, information and resources.
Ross said GESB would look to hire more planners depending on demand for the service.
"We have been expanding over the last year and it's an ongoing process. It's something that we have plans to augment with more advisers and paraplanners," Ross said.
Currently, GESB employs seven planners for complex advice and four advisers for the simple advice service.
This announcement comes on the back of ASIC's July intra-fund advice announcement that allowed super funds to offer advice over the phone.
