The Financial Planning Association of Australia (FPA) and ING DIRECT today announced the launch of a pilot national advice referral program that will connect ING DIRECT Living Super customers with FPA Professional Practices across the country.
The nine-month pilot commences next month and will be available to ING DIRECT Living Super customers who have asked for comprehensive financial advice from a CFP® professional within an FPA Professional Practice.
Tim Hewson, National Partnership Manager, Residential and Wealth, ING DIRECT, said the partnership is launching at a time when retirement planning is increasingly on the radar for all Australians:
“In recent years we’ve seen an uptick in super consolidation and switching and increased demand for transparency and control. Australians want to get ahead with their super, which aligns with our proposition about helping our customers to get ahead through value, fairness and transparency.
“We see professional, independent, face-to-face financial advice as increasingly important to our customers in preparing for retirement, and we’re delighted to be able to offer this service as more Australians take up Living Super.”
Mark Rantall, FPA CEO, said he is delighted with the partnership the FPA has developed with a major retail fund.
“The ING DIRECT partnership agreement has been modelled on the successful Cbus advice referral program and will help the FPA open more pathways to connect Australians to quality financial advice.
“I am very happy that we have been able to reach this agreement with ING DIRECT as it strengthens our ties with the superannuation sector and brings us one step closer to achieving the FPA’s vision that through our members, we stand with Australians for a better financial future.”
The cost of the first FPA adviser consultation will be at no cost for Living Super customers. Only a limited number of places for FPA Professional Practices will be available in the pilot stage. Initial participation in the pilot referral program will be limited, based on geographic requirements.
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Note to journalists
About the FPA
The Financial Planning Association of Australia (FPA) represents the interests of the public and Australia’s professional community of financial planners. The Association is unrivalled in its reach of the financial planning market, influence on government and regulators, standards set through a world-class Code of Professional Practice, unique position as the certification body in Australia for the global CFP® designation, and reputation for quality professional development. With a growing membership of more than 11,000 members and affiliates of whom 8,000 are practising financial planners, the FPA is home to Australia’s 5,500 CFP® professionals. Building on a 20-year legacy, the FPA represents the changing face of financial planning from industry to a profession. For more information, visit www.fpa.com.au
CFP®, CERTIFIED FINANCIAL PLANNER® and CFP Logo® are certification marks owned outside the US by the Financial Planning Standards Board Ltd (FPSB). Financial Planning Association of Australia Limited is the marks licensing authority for the CFP® marks in Australia, through agreement with FPSB.
About ING DIRECT
ING DIRECT changed the way Australians bank 16 years ago by launching the country’s first high interest, fee free online savings account. Since then, we’ve brought this low fee value to home loans, transactional banking and superannuation.
With over 1.5 million customers – and $32 billion in savings and $38 billion in mortgages – ING DIRECT has the highest Net Promoter Score (advocacy) of any bank.
Australia’s most recommended bank according to Nielsen Consumer Media View, Sep ’14 –Feb ’15 (n=10,220).
The Trust Company (Superannuation) Limited ABN 49 006 421 638, AFSL 235153, RSE L0000635 is the Trustee of the ING DIRECT Superannuation Fund ABN 13 355 603 448 (Fund) and the issuer of interests in the Fund. ING DIRECT Living Super is a product issued out of the Fund. ING DIRECT, a division of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL 229823, is the Promoter of the Fund.