GESB Financial Advice has been wound up as per the State Governments request. As such, GESB members will now need to seek financial advice from another Financial Planner as GESB can only offer General Advice.
Recommendations from GESB say to seek advice from a Financial Adviser with an Australian Financial Services Licence. Our recommendation is that you seek advice from a FPA Professional Practice. A qualified Certified Financial Planner is the best option. Benchmark Consultants can provide advice under these qualifications and more.
For any former GESB members who now find themselves without Financial Planning advice, please feel free to contact the Benchmark Consultants office on 9293 2922 to arrange an obligation free initial meeting. We can help you get back on track, with over 25 years experience with government employees, you couldn’t be in better hands.
The following statement is found on the GESB website …..
GESB Financial Advice
GESB’s subsidiary, trading as GESB Financial Advice (GFA) is being wound-up consistent with the State Government endorsed Whithear recommendation. This is part of a wider State Government reform of superannuation. As a result GESB will no longer provide access to a financial adviser through GFA.
This decision has no impact on the current operations of the GESB schemes
We will continue to act in members’ best interest during this period of change to provide the highest standards of performance, investment management and delivery of services to all members.
GESB will continue to provide information, education and support to all members through our Member Services Centre for GESB’s super and retirement schemes. In addition, a range of services is available from GESB to help members with their super and retirement needs.
Member services now available
- A new ‘Retirement Options Service’ providing information and educational materials to assist members in considering options when preparing for retirement
- A range of super and retirement (including Transition to Retirement) seminars
- Information, facts sheets and calculators can be found on GESB’s website at gesb.com.au
- A specialised Simple Advice service where we recommend an appropriate GESB investment option or how to make additional contributions to a member’s GESB account
Continuing support for members who have consulted GFA
GESB will continue to support members who have consulted GFA however we will be limited to providing General Advice or factual information only.
Under a member’s direction, Member Services Consultants will continue to be available to provide support in the implementation of the member’s personal financial advice recommendations at no extra charge. However, we will not be qualified to discuss the specific recommendations in their Statement of Advice or provide them with personal financial advice.
If a member requires further personal financial advice, we recommend that any financial adviser they select holds an Australian Financial Services licence (AFS) or be appropriately authorised by an AFS licensee. The adviser should also understand the complex areas of the defined benefit and untaxed schemes which GESB administers.
Peter Stewart the Principal of Benchmark Consultants is a Certified Financial Planner. Benchmark Consultants has been accredited as a Professional Practice of the Financial Planning Association (FPA). Benchmark Consultants is a corporate representative #289570 of Australian Financial Services Ltd AFSL#297239
Phone: 08 9293 2922