Call the AIOFP on 1800 111 203

A Comprehensive Solution for Superannuation Funds

By Peter Johnston | August 24, 2015

SMSF

The Association of Independently Owned Financial Professionals (AIOFP) is the largest Association for independently owned financial professionals with approximately 3,000 advisers around the nation.

The AIOFP Board has devised a business model that addresses the five major objectives superannuation trustees are looking for when seeking a solution to their financial advice needs for members:

  1. Retaining and increasing their funds under administration.
  2. Competent independently owned financial advisers they can trust.
  3. Minimise the cost and risk of providing a service.
  4. National distribution capacity to service all members.
  5. A SMSF solution that incorporates their superannuation fund.

The AIOFP superannuation business model is structured around complying with the new FOFA best interest rules that will allow the advisers to not only preserve the superannuation fund account balance but recommend further investment. This is achieved by the superannuation fund being assessed by the Filtered Research Committee (FRC) a joint venture with the global Mercer Consulting group. Once the fund is approved we only use advisers who hold the Certified Financial Strategist (CFS) designation that have the following characteristics:

  • Independently owned.
  • Non conflicted research source (FRC – Mercer)
  • A relevant tertiary qualification.
  • ASX experienced.
  • Minimum of 3 years field experience.

The AIOFP will manage the superannuation process with a designated project manager working on a negotiated flat fee basis by engaging as many CFS advisers as necessary to meet the needs of of the particular superannuation fund.

The CFS adviser will charge the member directly on a fee for service basis and prefer to target the members who have smaller account balances. These members normally have savings elsewhere.

Once the superannuation fund is approved it will be placed on the wider FRC approved product list to receive inflows from the AIOFP national membership. Any members wanting a SMSF structure will be encouraged to retain some assets in the superannuation fund wherever possible to maintain contact with the entity.

For further information contact the AIOFP on 1800 111 203.