The limited, personal, phone-based advice is available to members at no additional cost, fund chief executive Leeanne Turner said.
“We identified a gap in our advice service; we’ve always offered general and comprehensive but we identified that the advice needs of our members had changed,” Ms Turner told InvestorDaily.
Many of the fund’s members want tailored advice on a specific topic, rather than a comprehensive financial plan, she said. However, comprehensive advice remains critical, she added.
“From time to time members need more than generic facts and information, but they don’t need or want their entire financial situation examined either,” Ms Turner said. “Limited personal advice could be about making salary sacrifice contributions or making an investment choice, for example.”
The service can offer MTAA members limited advice on super contributions, transition to retirement, insurance and investment choice, the fund stated. It will build on the current general advice service the fund offers, according to MTAA.
Ms Turner said members have been calling out for single-issue advice on topics such as insurance or salary contributions.
“We are also going to launch some online tools which, while not providing a statement of advice, will encourage our members to take more interest in their super,” she added.
