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A super fund trustee offers members advice on their investment option and contribution levels, with the cost spread across all members. What is the MOST accurate statement about this 'intra-fund' advice?
Advice to a member about their investment option and contributions, considering their circumstances, is personal advice and attracts the best interests duty (Corporations Act 2001 ss766B(3), 961B, compilation 19 Sep 2026). Collectively charged advice fees are limited to advice about the member's interest in the fund (SIS Act s99F). Shared cost does not remove the SOA obligation where personal advice is given, and the scope cannot extend to unrelated matters such as direct property.
Collective charging limits the scope of the advice, not the obligations that come with it.
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