Industry Fund Financial Planning celebrates its 10th anniversary this week.
The division of Industry Fund Services (IFS) has expanded to have a national presence in capital cities and regional offices servicing the members of 25 industry and public sector funds.
David Haynes, general manager of IFS, said the decision to establish the planning group in October 1999 with a fundamental “no commissions” philosophy went unremarked at the time.
“We now provide services from 30 locations nationally via our pooled planner, embedded planner and telephone advice models,” he said.
“IFS has been a long-term advocate for structural change in the provision of advice, seeking to remove conflicts, improve member benefits and lower costs across our superannuation system. With our partner funds we established a unique planning service that met those core objectives…
“We welcome the growing recognition from government, regulators and the retail sector that the system must change. Members’ best interests have formed the core of IFFP’s values since 1999. A decade later, debate continues in the wider community over the need to reform the commission-based advice structures within the retail sector.”