ESI Super targets younger members on advice
Tuesday, 2 March 2010 12:00pm
Gen Y super fund members are a fickle lot - a trend ESI Super recognises and is hoping to change by engaging younger members with its new financial planning strategy.
Robyn Petrou, chief executive of the $2.8 billion fund, is looking to ramp up ESI Super's single issue advice processes in its call centre to encourage younger members to seek advice.
ESI currently boasts a tiered service arrangement for advice. Tier four represents a full planning suite, while the lowest tier represents less comprehensive services.
Petrou said the fund is working at a communication strategy that specifically targets tier 3 - where members seek advice on specific single issues such as investment choice and insurance, which leads to a statement of advice.
"[This tier] is the one we're trying to develop to get our younger members involved in seeing the value of advice," she said.
In particular, the fund is looking to significantly improve its phone advice services to provide easy access for members, said Petrou.
ESI Super is a multi-billion dollar industry superannuation fund that was established in 1995 to service employees working in the energy industry, and their families.
ESI Super replaced QESIESS and QESIE-FASF - which operated since 1980.
Ruth Liew
This story was found at: http://www.financialstandard.com.au/news/view/28172
Printed: Wednesday, 8 September 2010 6:44am