3 Myths About Financial Advice Your Super Fund Wants You to Bust

The Advice Dilemma

For many of us, the idea of getting professional financial advice seems out of reach. We often think of it as something complex, intimidating, and reserved for the wealthy. It’s a service we know could be valuable, but the perceived barriers of high costs and long-term commitments often stop us from taking the first step.

But what if you’re wondering how to change your investment options, prepare for retirement, or secure your family’s future? What if the key to answering these critical questions was already available to you? The expert guidance needed to shape the life you want is likely more accessible and affordable than you ever imagined. Your superannuation fund might just be the most practical gateway to the professional advice that can make a real difference, both now and in retirement.

It’s Probably Cheaper Than You Think (and Might Even Be Free)

The fear of a hefty bill stops most people in their tracks. But your super fund has flipped this on its head by making the most crucial first steps completely free. A major hurdle—cost—is often much lower than people assume when advice is accessed through super.

Many forms of guidance are included as part of your fund membership at no additional cost. You can access a wealth of general information through your fund’s website, online calculators, and Live Chat features without paying anything extra.

When you need simple, personal advice over the phone, the most common topics are covered for free. Discussing your investment choices, sorting out your insurance, or figuring out how to add extra to your super won’t cost you an additional cent. For more specific topics like transition-to-retirement (TTR) strategies or starting a pension account, a small advice fee may apply, but the cost will be made clear upfront.

Even the first step toward comprehensive advice is designed to be accessible. Your initial, fact-finding appointment with a financial adviser is offered at no charge. This is your opportunity to discuss your goals and circumstances and have an expert determine what level of advice you need—all without any upfront financial commitment. If you do proceed with a detailed financial plan that has a fee, you have the option to pay for it directly from your super account, reducing the immediate out-of-pocket expense.

It’s Not an All-or-Nothing Commitment

Another common misconception is that seeking financial advice means committing to an intensive, life-altering plan from day one. In reality, your super fund offers a flexible range of options, allowing you to choose the level of engagement that suits your immediate needs and comfort level. You are in control of the journey.

This tiered approach means you can start with simple tools and seek more personalized guidance as your needs evolve.

• On-Demand Learning & Answers: Begin by exploring online calculators to model different financial scenarios or attend free online webinars to learn about managing your super. If you have a specific query, you can use Live Chat for quick, general information.

• Simple, Personal Advice: For a question about a single topic, like which investment option is right for you, you can call the fund’s advice team for straightforward, personal guidance over the phone.

• Comprehensive Advice: For those with more complex needs or who want a detailed financial plan, you can schedule a face-to-face or video call appointment with an adviser. This is designed for broader discussions covering multiple financial matters to create a complete roadmap.

You don't have to dive into the deep end. Whether you need a quick answer or a complete strategy for retirement, you can select the level of advice that is right for you, right now.

The Comprehensive Process is Clear and Collaborative

If you decide you need a detailed financial plan, the process is far from the intimidating or high-pressure experience you might fear. Instead, it’s a transparent, structured collaboration designed to ensure the advice you receive is tailored to your unique situation and is in your best interest.

The comprehensive advice process is broken down into four distinct steps:

1. Getting to know you: This is the initial, no-charge appointment where the focus is entirely on you. You'll discuss your personal and financial circumstances, your goals, and what’s important to you. The adviser uses this conversation to determine the scope of advice you need. Generally, no personal financial advice is provided in this first meeting; it's about listening and fact-finding.

2. Setting a plan: Based on the information from your first meeting and with your agreement, the adviser researches solutions and develops a personalized financial plan. This formal document, called a Statement of Advice (SOA), outlines the recommended strategy to meet your goals.

3. Presenting the plan: In a follow-up meeting, the adviser walks you through the Statement of Advice. They explain each recommendation, how it aligns with your objectives, and how it serves your best interests, answering any questions you may have.

4. Taking action: Once you are comfortable with the recommendations, the final step is putting the plan into action. Your adviser helps you implement the agreed-upon strategies and keeps you informed every step of the way.

This clear, step-by-step approach provides peace of mind, ensuring you understand and are comfortable with the proposed plan before any action is taken.

Your Next Step to a Better Financial Future

The path to professional financial advice is clearer, more affordable, and more flexible than you have been led to believe. The barriers you thought were there—high costs, complexity, and rigid commitments—are largely illusions when you use the services available through your super fund.

Good advice is the difference between simply hoping for a better future and actively creating one. The real question is no longer "Can I afford advice?" but "Can I afford not to?" Now that you know the path is open, what is the one financial question you will ask to help shape the life you want?

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The information on this Website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate for your needs and, where appropriate, seek professional advice from a financial adviser.