Steven O’Donoghue

Queensland-based Brighter Super is planning to step up its ties with financial advisers, with a series of roadshows this year to pitch its services to advisers around the state.

The $30 billion fund, which was formed from a merger of LGIA Super, and Energy Super in 2021, has significantly increased its ties with advisers following its merger with Suncorp Super in April 2022.

Brighter Super head of advice Steven O’Donoghue, a veteran of the financial advice industry, says the fund is looking at ways to become more adviser-friendly ahead of the proposed changes to the laws around financial advice which will be presented to parliament this year.

O’Donoghue says the unique position of being in an industry super fund that took over a retail fund has given Brighter Super stronger links with advisers compared to industry fund peers.

“We pride ourselves on being an advice-led organisation,” he tells Professional Planner.

“We have 41 staff who travel throughout Queensland giving what we call ‘boutique at scale’ face-to-face advice.”

The fund also has over 1300 external advisers registered with it who can charge fees to members’ accounts where it is appropriate and launched an adviser portal in June last year.

“We allow all fee types to be charged to the members account, with the member’s permission, and we allow external advisers to be listed on the account,” he says.

“If a member calls and wants advice we can refer them back to their advisers.”

He says the planned roadshows by the fund for later this year, the first time the fund has done them, is part of getting its message out to more members of the industry.