Celebrating 25 years supporting industry fund members
25 years ago, a group of people set up IFS in La Trobe Street, Melbourne. They came together with a mission to be different.
At that time the finance sector was focused on what it could get from customers. Instead, they wanted to see what they could do for customers - industry fund members. That ethos still sits at the heart of IFS today.
A force in driving change and setting the standard for super
In our early years, we incubated successful organisations like IFM Investors, Frontier and ISA.
We pioneered new products and broke new ground championing commission-free financial advice. We also created AUSfund to protect inactive small accounts from being run down, and we put resources into recovering unpaid super. These actions have all helped change the way people think about industry super.
Aligned to and valued by industry funds
IFS started at a time when industry funds had limited scale, limited skills, and limited cash. By providing services collectively funds could support their members and keep fees low.
Today many funds now have their own internal capabilities, so we focus where we have the greatest impact.
1. Reuniting members with their super
The problem of multiple unintended super accounts often results in lost accounts and erosion of super. Through AUSfund we’re reuniting members with their lost and inactive super, preventing erosion and increasing active account balances.
2. Recovering unpaid super
We’re actively working with funds, employers and the ATO to ensure that ordinary working people get the super they’re entitled to.
3. Delivering ethical advice
The Royal Commission has put the spotlight on financial advice. IFS advisers have always strived to provide advice that members can trust. With the new FASEA regime, we’re working closely with industry funds to ensure licensees and advisers are FASEA ready.
4. Developing solutions to complement super
Through ifsinvest we’re giving industry fund members flexibility and control in managing their non-super savings, so they stay in good hands. ifsinvest products are designed around the same low-cost model that underpins industry super.
We’re also delivering other value-added services for funds that need support, including insurance brokerage and consulting to ensure best outcomes for members.
“We’re proud to have played our part helping working Australians save for a more secure future.”
Our success over 25 years is a product of the vision, dedication and efforts of many amazing people and the support of our partners.
The world is changing all the time. The IFS of 25 years ago looked very different to the IFS today, and we know that the IFS of the future will look different again. What won’t change is our unwavering focus on making our industry fund partners and their members always front and centre of everything we do.