Industry Fund Services (IFS), an Australia-based provider of advice services to industry superannuation funds, is planning to triple its advisor numbers in the next three years, according to Financial Standard.
IFS chief executive, Bill Danaher, told the publication that advice is a key issue for industry super funds from a competitive point of view.
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"There has always been an interest from industry funds to provide advice, but we anticipate a 30% increase of adviser numbers in the next months," Danaher added.
IFS currently has 75 advisors and it plans to triple its financial adviser headcount over the next three years.
According to Danaher the number of Australians seeking advice through their industry fund is still low.
"The stat is low, but we are working on a very large pool with industry fund members probably reaching 5 million Australians.
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By GlobalData"We must consider how we engage all those people in advice and it will probably be through marketing activities and providing different sorts of advice such as scaled advice, online or by phone.
"I am confident that the demand for advice will grow over the next four years," Danaher added.
