Industry Fund Services

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Financial planning & advice models

Industry Fund Financial Planning (IFFP)

IFFP is the leading provider of financial planning services to industry and ‘all profits to members’ super funds.

Over 30 funds contract IFFP to deliver a range of planning and education services to their members under the umbrella of the IFS AFS Licence, providing a significant value add to participating funds.

The ‘fee-for-service, no commissions’ philosophy and IFFP’s long term track record of providing advice solely in members’ best interests continues to align closely with the strong member focus of industry super funds.

An enhanced range of options sees funds able to use IFFP’s expertise to:

• Deliver a mix of telephone and web based advice
• Face-to-face interviews
• Workplace or off-site member seminar programmes
• Member communication services

Embedded planning staff can also provide general, limited and full advice services direct from fund offices and call centres complementing the direct access available through existing state and regional locations.

Fee-for-service, no commissions

IFFP charges on a fee-for-service basis; members only pay for the time it takes to prepare and implement their financial plan. The first appointment with a financial planner is free of charge and obligation, and members will agree on a quoted fee before they decide to continue with a personalised plan.

In line with the industry super philosophy, IFFP planners do not receive or charge any commissions*; hence all product recommendations are being made purely in members’ best interests.

Some super funds have arrangements with IFFP whereby the fund makes a contribution to the cost of advice, depending on regulatory requirements and individual fund policy.

Highly qualified planners

IFFP maintains the staffing level necessary to service arrangements with each fund, with additional resources being added where required.

At the moment, IFFP has a network of over 70 planners located in each state and territory, including planners seconded to super funds. A team of paraplanners and administration staff supports them.

Each IFFP financial planner:

• is directly employed by and are representatives of IFS covered by the IFS Australian Financial Services Licence (Licence No. 232514).
• is a member of the Financial Planning Association of Australia (FPA) and meets the ongoing professional development requirements.
• holds a diploma of financial planning or equivalent. Many also hold the Certified Financial Planner (CFP) designation and / or appropriate tertiary qualifications.
• has in most cases more than 5 years financial planning experience.
• is required to participate in ongoing education and professional development.

Contact

Read more about the service on the IFFP website or call Andrew Whiley, National Manager Marketing & Distribution, on (03) 9923 7131 to discuss how to best provide the IFFP financial planning service to your members.