Professor Deborah Ralston

The pre-eminent retirement incomes research organisation, the CSIRO-Monash University Superannuation Cluster, has secured another significant private sector backer with the decision by ANZ Wealth to join its ranks.

ANZ Wealth will join five other organisations as the key supporters of the $9 million research project that brings together academics from four universities, Monash, Warwick, Griffith and Western Australia, as well as the CSIRO, to examine the challenges facing the Australia’s retirement system.

The other five organisations are BT, Cbus, Mercer, Vanguard and Challenger, which, together Treasury, the ATO, the ABS, ASFA, National Seniors and AIST, form the Cluster’s Steering Committee with eminent researcher, Professor Hazel Bateman from the University of NSW. The Australian Centre for Financial Studies (ACFS), which promotes thought leadership in the financial services sector, leads the project for Monash University.

Patrick Clarke, Head of Direct Super and Investments at ANZ Wealth, said it was a privilege to be involved with the CSIRO-Monash University Superannuation Cluster.

“Over the past 18 months the work done by CSIRO and Monash in examining the dynamics and inter-relationships between superannuation and the wider economy, as well as the transition and retirement phase of Australians over 60, has been first class.

“We believe it’s critical that this research continues so that both the public and private sectors can base their decision–making on hard data in the vital area of superannuation.”

Dr Sarah Dods, CSIRO’s Research Director, Digital Economy, Digital Productivity and Services Flagship, said it was a tribute to the research done by the Cluster that such a significant player in the wealth management sector had decided to come on-board.

“We believe the research we have been conducting in areas such as ways to improve the participation of older workers is critical if we are to get the superannuation policy settings right, and for an organisation of the reputation of ANZ Wealth to give its support further endorses the value of our work.”

ACFS Executive Director, Professor Deborah Ralston, said the sheer size of the superannuation pool, at $1.8 trillion, posed important policy issues that the Cluster had been addressing.

“In the past, much of the research focus has been on asset allocation and the accumulation phase. But much less focus has been given to the post retirement phase and Australians over 60; a better retirement system is broader than superannuation, including pensions and private savings.

“What is critically needed for better policy and product development in post-retirement is a research evidence base.

“Funding for better health and welfare, accommodation and transport, they all have a bearing on the quality of the life enjoyed by older Australians and are important issues that demand a policy response, so the fact ANZ Wealth is giving its support to the Cluster is testimony we have the right focus and are adding to the pool of knowledge around retirement incomes policy.”

–END–

The post ANZ Wealth joins Monash-CSIRO Super Research Cluster appeared first on AdviserVoice.

David Atkin

A landmark referral arrangement struck between the Financial Planning Association of Australia (FPA) and the Construction and Building Industry Superannuation Fund (Cbus) will open new pathways to connect more Australians with high quality advice from a CERTIFIED FINANCIAL PLANNER^®.

The post Cbus advice referral program a window to Australia’s bright professional future appeared first on AdviserVoice.

David Aitkin

The Financial Planning Association of Australia (FPA) has struck a landmark agreement to promote a stronger relationship with Australia’s industry superannuation sector via a pilot professional referral service with the Construction and Building Industry Superannuation Fund (Cbus).

The pilot arrangement culminates months of collaboration between Cbus and the FPA.

It means that FPA Professional Practices that meet select professional and geographic location criteria, may accept referrals of eligible Cbus members seeking professional financial planning services.

David Atkin, Cbus CEO said: “The pilot referral service aims high: allowing Cbus members access to professional financial planning services delivered by a CFP® practitioner operating within an FPA Professional Practice.

“This is an exciting step. And we look forward to rolling out the initial pilot scheme to Cbus members in Queensland, South Australia, Tasmania and the Northern Territory. Pending the outcome of this initial phase, there is strong potential for the programme to become a national scheme for all eligible Cbus members.

“I congratulate the FPA for its foresight in driving its professional mission, and we welcome the ongoing collaboration with the FPA to ensure the ongoing success of this joint initiative.”

Cbus represents over 700,000 industry and general public members, and serves some 80,000 employer groups.

Mark Rantall, FPA CEO said: “This is a significant and healthy step in the right direction for the financial planning profession. It’s a practical example of the ongoing joint dividend that flows from choosing professionalism: good for Australian investors, good for the professionals who serve them.

“FPA thanks Cbus and its Board for the confidence in choosing to entrust its members to the safe hands of CERTIFIED® professionals operating within the FPA Professional Practice network.”

Mr Rantall said the opening of collaborative pathways with Australia’s industry superannuation sector augurs well for the ongoing future of all Australians and the professional CERTIFIED® financial planners who serve them.

The post FPA and Cbus sign landmark pilot referral scheme appeared first on AdviserVoice.