AustralianSuper expands advice services hires Michelle Levy

AustralianSuper announced plans to broaden its financial advice services, aiming to reach its 3.6 million members through a new online platform that will deliver personalized guidance on investments, contributions and retirement planning.

Online advice service to roll out later this year

The digital advice tool will be embedded in the fund’s member portal and introduced in phases beginning later this year. Initially, it will cover investment options, voluntary contributions and retirement health checks. Members who need more than the online tool can contact an adviser by phone or video call, while complex issues may be escalated to a senior advice adviser within the fund.

Future releases are slated to expand the offering to include adviser‑led support delivered virtually or over the phone. The service will be operated by AustralianSuper Advice Pty Ltd, an entity of the AustralianSuper group.

Governance and leadership updates

The fund has appointed Michelle Levy as an independent director of the advice business. Levy, a financial services lawyer who chaired the federal government’s Quality of Advice Review in 2023, brings experience from the recent review that recommended super funds act in members’ best financial interests and provide specific retirement assistance.

Shane Hancock, general manager of retirement, said the initiative is intended to make financial advice more accessible to members. “We want members to feel in control, so we’re giving them the tools to get quality advice in a secure environment at a time that suits them,” he explained. He added that once the rollout is complete, members will be able to extend their online journey by speaking with a qualified adviser virtually or on the phone.

AustralianSuper noted that its digital advice service builds on an existing suite of online education resources, calculators and planning tools.

Members will benefit immediately.

Levy emphasized that accessible, personalized advice can improve retirement outcomes. “Financial advice that takes into account someone’s personal circumstances can make a big difference to their retirement outcomes. That advice should be accessible and simple to understand and follow,” she said.

She continued, “Through the online advice journeys, AustralianSuper members will be able to get just that – quality personal advice and guidance whenever they need it.” The first online advice journey is scheduled to launch in the coming months.