Government superannuation fund GESB has reported a boost in the take up of member advice on the back of a targeted marketing campaign.
The number of sales leads to GESB's financial planning business was double the target referral rate.
"These sales referrals have led to a take up of advice from members that was well above our expectations," GESB head of wealth management Fabian Ross said.
As a result of the higher demand for advice, GESB is planning to increase its planner numbers.
"We have around six planners in our business, however we are certainly looking to increase these numbers because member demand is so high that it has been hard for the planners to deal with the number of enquiries," Ross said.
Most of the members who sought advice were nearing retirement with an average age of 45, according to Ross.
"These clients took up our advice services because they have reached a stage where they are telling us 'we would like you now to hold our hands'," he said.
The campaign was established to inform the fund's members that advice was available, particularly given the volatile markets.
"Some worry about the economy, others get good advice" was the theme behind the fund's marketing campaign that promoted the GESB Financial Advice business.
The campaign ran from December 2008 to June 2009 and adopted both direct mail and workplace visits.
