The FPA has criticised Industry Super Network's (ISN) new advice campaign, saying quality of advice should be the primary focus for super fund members, not the cost of advice or the way it charges for services.
"We know it's difficult for super fund members to trust whether they're in the right fund or getting the right advice," FPA chief executive Mark Rantall said.
"However, cost and the way a financial planner charges for their services should not be the primary focus as is the case with the current ISN advertisements."
ISN on Monday announced it would launch a national campaign to promote intra-fund and holistic advice services offered by industry super funds.
However, the FPA has taken offence at ISN's suggestion of a "crisis of confidence" in the advice industry.
"If there is a crisis of confidence in superannuation funds, financial markets and advice more generally, it should encourage people to make sure they're getting the best advice and that the advice they're getting takes into account their own and their family's complete financial circumstances, not just their superannuation needs," Rantall said.
He said the FPA's new strategy, to be voted on by members in April and which would propose that only individual planning professionals would have the right to vote, would increase confidence in advice services.
