Planning and advice options

The Limited Advice service is advice about a particular issue and doesn't take into account your full financial situation. It addresses a specific area or issue, and only takes into account the money you hold within your Super SA fund.

This service provides —

✓ Advice on your investment choices within your super and pension accounts
✓ Advice on superannuation contribution strategies

The Limited Advice service is —

✓ Held over the phone or a video conference
✓ Takes between 30 to 60 minutes only
✓ Costs between $350 - $700

The Investment Choice advice will be completed in one meeting and you will receive your written Statement of Advice (SoA) with the specific recommendations soon after that meeting.

There is a $350 fee for this service and this can be paid directly from your Triple S, Flexible Rollover, Select or Income Stream Product account.

Contributions Advice will take two meetings due to the added complexity of this advice. It will also include investment choice advice as part of the recommendations. You will have an initial meeting with your adviser where they will discuss your investment choice and contribution options.

They will then undertake additional research and modelling and to prepare their advice. You will have a second meeting with your adviser where they will present you with your Statement of Advice and explain the strategies they have recommended.

There is a $700 fee for this service and this can be paid directly from your Triple S, Select or Flexible Rollover Product account.

Advice is provided by financial planners from Industry Fund Services.

IFS will not address or consider any other advice needs you may have beyond the scope of the Limited Advice service.

The Comprehensive Advice service is a holistic service. It looks well beyond what you hold within your Super SA fund.

This service provides a holistic financial plan. It focuses on determining what your financial goals are and provides advice tailored to those goals.

The Comprehensive Advice service takes into account —

✓ Your financial position
✓ Your financial needs
✓ Both super and non-super matters

This in-depth Comprehensive Advice service —

✓ Is held over the phone, video or in person here at Super SA, Adelaide.
✓ Takes between 60 to 90 minutes
✓ Costs only $350 for the initial appointment
✓ Can take between 4 to 8 weeks to prepare
✓ Includes a presentation/s to explain advice at depth
✓ Provides help in implementing recommendations to get you going
✓ Provides an estimate of fees after the first appointment is over

 

The initial appointment fee is $350. The cost of advice may sit between $2,500 to $3,500 depending on how complicated your financial situation is.

You may be able to pay some or all of these fees directly from your Triple S, Flexible Rollover, Select or Income Stream Product account.

As your adviser develops your financial strategy during the preparation phase, they may get in touch a few more times to further discuss your goals and needs.

Over time, your financial situation and your goals and objectives may change. Whilst IFS do not provide an ongoing review program, you are welcome to meet with them at various stages of your life to get a new financial plan prepared. The same costs apply to a new financial plan but you’ll gain peace of mind by finding out if you’re on track to achieve your financial goals. Importantly, you’re in control of when you receive additional advice and you only pay for the advice you need.

If you’re trying to work out which advice service you need, have a look at the chart below.

			General Advice			Limited Advice			Comprehensive Advice
If you want to talk about factual product information that doesn’t take into account your objectives, financial situation and/or needs.			✓			X			X
If you want to discuss personal financial advice that considers your objectives, financial situation and needs.			X			✓			✓
If you only want advice on either investment choices or super contributions within your Super SA account.			X			✓			X
If you want advice on multiple financial strategies.			X			X			✓
If you’re seeking an in-depth analysis of your goals and advice on how to achieve the financial aspects of these goals.			X			X			✓
If you’re after retirement funding analysis.			X			X			✓
If you’re in need of analysis of your insurance needs.			X			X			✓
If you need advice on the consolidation of your super funds.			X			X			✓