Asset Super has struck a deal with Money Solutions, a financial ‘coaching’ firm part-owned by its administrator AAS, to offer fee-for-service super advice to its members.
According to general manager of the $1.3 billion industry fund, John Paul, members with enquiries related to superannuation will be referred to the Money Solutions call centre, and will have payment for a statement of advice deducted from their account balances. “;We’re taking advantage of the regulators having been persuaded that members should be allowed to use their super to pay for appropriate, super-related advice,”; Paul said. The provision of low-cost advice through the Money Solution call centre was used by AAS as a bargaining chip in its successful tender for the Asset Super administration contract, won away from Citistreet last September. Another AAS client, REST Superannuation, also allows members to use their super to pay for Money Solutions advice, although in its case the first phone consultation is free.
05/12/2006
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