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Update regarding RACQ Financial Planning

As of the 4 May 2021, RACQ Financial Planning entered into an agreement with Bridges Financial Services Group Pty Limited (Bridges) for the sale of the business of RACQ Financial Planning. From 18 June 2021 onwards RACQ no longer provide Financial Planning services.

Financial planning FAQs

Background

RACQ recognised a greater strength in partnering with a strong, reputable provider- Bridges Financial Services. This decision will enable RACQ to focus on what we believe is a better alignment to our operations, helping our members build strong foundations for their financial wellbeing to forge a path into financial advice.

Established in 1985, Bridges, a subsidiary of the IOOF group, has grown to become one of Australia’s largest national financial planning and stockbroking organisations and has become the preferred partner for the customer-owned banking community. Bridges Financial Services Pty Ltd (Bridges). ABN 60 003 474 977; ASX Participant; AFSL No 24083 is a leading and highly respected wealth management business which can provide you with advice on wealth creation, pre and post retirement planning, insurance, estate planning, margin lending, stockbroking services and much more. With over 60 offices and more than 160 professional financial planners around Australia who are committed to providing quality financial advice and helping customers achieve their financial goals. You can learn more about Bridges at www.bridges.com.au or 1300 655 014.

Bridges Financial Services is part of the IOOF Group, which has a long history of providing advice compliant to the needs of its clients. RACQ Financial Planning currently utilise the services of Actuate, a Licensee of IOOF Group.

What does this mean for me?

RACQ Financial Planning will no longer be authorised to provide financial advice from 18 June 2021. At this time, a financial planner will contact you for your next scheduled review under Bridges Financial Services (AFSL No 24083).

RACQ has worked together with Bridges Financial Services in relation to the business transition.

No, there will be no change to your investments, super or pension in the short term. These products, along with your strategy will be reviewed on a yearly basis into the future. If appropriate, either your strategy or your products may change according to your needs.

Bridges Financial Services are bound by law to provide advice in your best interest. They have a strong reputation of providing quality advice since 1985 having over fifty-four thousand clients across Australia.

Bridges Financial Services has a number of existing locations in Brisbane City, Fortitude Valley, Toowoomba, Cleveland, Robina, Mackay, Townsville and Cairns.

Fees

No, there will be no change to your advice fees in the short term. Your service needs, along with your strategy will be reviewed on a yearly basis into the future. If appropriate, either your strategy, your products or your service level may change according to your needs.

No, there will be no change to your investments, super or pension product fees in the short term. These products, along with your strategy will be reviewed on a yearly basis into the future. If appropriate, either your strategy or your product fees may change according to your needs.

Important information Show more

Banking products and loans are issued by Members Banking Group Limited ABN 83 087 651 054 AFSL and Australian credit licence 241195 trading as RACQ Bank. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, before deciding.