Industry Fund Services

What Industry Fund Services does

Industry Fund Services (IFS) is a Melbourne-based financial services firm wholly owned by Industry Super Holdings, the holding entity of 16 Australian profit-to-member super funds. Founded in 1994, IFS provides AFSL licensing (AFSL 232514), advice assurance, superannuation consulting, and unpaid-super recovery services to its shareholder funds and a broader base of licensed industry super funds covering approximately 5.5–6 million Australians. The business has recovered approximately $2 billion in unpaid super since inception, with a record $226M recovered in FY25.

IFS operates three core revenue lines: (1) AFSL licensing and compliance services to shareholder and licensed super funds, (2) advice assurance and AI-assisted auditing of financial advice provided under the licence, and (3) recovery of unpaid superannuation from non-compliant employers, conducted on a fee-contingent basis. Distribution is direct to super fund trustees and, increasingly, to independent financial advisers via the IFS Trusted Advice Model.

The technology stack centres on the SuperSmart digital platform — co-developed with Hostplus and Iress and launched April 2024 — a contact-centre environment built on Microsoft Dynamics 365 and Teams Phone with GenNet, and Microsoft Copilot Studio automation supporting predictive employer non-compliance analytics, advice auditing, and chatbot-driven employer engagement. IFS achieved ISO/IEC 27001:2022 certification in March 2025, formalising its information security posture for licensed services.

Name

Industry Fund Services

Legal name

Industry Fund Services Limited

Website

https://ifs.net.au

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

Industry Fund Services provides AFSL licensing, advice assurance, consulting, and unpaid-super recovery to Australian profit-to-member super funds, wholly owned via Industry Super Holdings and serving 5.5–6 million members.

Ownership category

akta.pro rank

Product category

Superannuation Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

Keywords

• Financial advice licensing
• Unpaid super recovery
• Advice assurance services
• Superannuation consulting
• Hybrid financial advice

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Financial Advice Licensing Services: IFS provides full advice licensing to 13 super funds under various service models (Outsourced, Representative, Authorised Representative). Services include compliance and audit, technology and efficiency tools, data and insights, digital advice, professional development, paraplanning, and professional indemnity insurance coverage.
2. Advice Assurance and Oversight: Provides independent adviser audits, third-party adviser reviews, advice assurance technology, content and calculator reviews, and reporting with peer benchmarking to super funds. Part of the licensing and standalone service offering.
3. Unpaid Super Recovery Services: Fee-for-service model for identifying overdue contributions, contacting employers, establishing payment plans, issuing Letters of Demand, and legal services for super recovery. IFS recovered $226 million in unpaid super in FY25.
4. Consulting Services: Specialist consulting for super funds covering advice model design, vendor procurement, risk and compliance practices, operating model transformation, member education models, and go-to-market propositions.
5. IFS Trusted Advice Model Licensing: Limited licensing opportunity for independent financial advisers (up to 20 advisers in initial phase) offering AFSL authorisation, risk and compliance support, professional development, paraplanning, analytics, and referral/appointment booking services. Licensing services commence 1 July 2026.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Industry Fund Services provides financial advice licensing, advice assurance, and unpaid super recovery services to Australian profit-to-member superannuation funds. It also delivers consulting services, digital advice tools (Profiler IQ, Hybrid Advice), and an education framework (with Kaplan Professional) to help super funds serve over 5.5 million members. The company operates via AFSL 232514 and combines proprietary technology with deep superannuation regulatory expertise, having recovered almost $2 billion in unpaid super since 1994.

Product overview

Industry Fund Services (IFS) operates as a specialist advice services and super recoveries provider to profit-to-member superannuation funds in Australia. The company offers a comprehensive portfolio of services organized into three core pillars: Financial Advice, Tools & Education (including Advice Licensing, Hybrid Advice, IFS Trusted Advice Model, Advice Assurance, Profiler IQ digital risk profiler, Education Framework partnership with Kaplan, and Consulting Services); Super Recoveries (including Unpaid Super Recovery, Insolvency Management, Employer Support, and Payday Super Services); and digital platforms (including SuperSmart, IFS Online Forms Portal, and IFS Advice Solutions Hub). IFS provides licensing models and advice services to 13 super funds, supporting over 5.5 million Australians. The company leverages technology platforms including Xplan (Iress), Microsoft Dynamics 365 Contact Centre, and Microsoft Teams Phone for integrated service delivery.

Differentiator

Problem solved

Functional benefit

Brands

• Profiler IQ: A digital risk profiler designed to help members understand how their superannuation is invested and what investment mix best aligns to their risk and return preferences.
• Hybrid Advice
• SuperSmart

Products and services

• Advice Licensing Full financial advice licensing service for Australian superannuation funds, offered as Outsourced, Representative, or Authorised Representative models. Includes compliance, audit, technology, data insights, paraplanning, professional indemnity insurance, and professional development, served to 13 super funds through IFS's AFSL.
• Hybrid Advice Technology-enabled General Advice service (Retirement Health Check) that helps super fund members explore retirement income trajectories under a General Advice framework, supporting super funds' Retirement Income Covenant obligations. Includes a retirement adequacy tool, branded member output, CPD platform access, and a service desk.
• IFS Trusted Advice Model Licensing and service proposition for independent financial advisers (initial cohort of up to 20 advisers) not employed by super funds. Provides AFSL authorisation, risk and compliance support, professional development, paraplanning, analytics, and referral and appointment booking services through super fund partnerships.
• Advice Assurance Program Expert and scalable advice oversight solutions for super funds, including adviser audits, third-party adviser reviews, an advice assurance technology platform, content and calculator reviews, and detailed reporting with peer benchmarking. Uses AI-assisted auditing software and supports independent audits tailored to specific advice models and risk appetites.
• Profiler IQ (Risk Profiler) Digital, interactive risk profiling tool that helps super fund members understand their investment risk tolerance and align their superannuation investment choices. Includes explainer videos, choice modelers, challenge questions, and accounts for emotional drivers of investment decisions.
• Education Framework (Kaplan Professional Partnership) Educational framework developed with Kaplan Professional for advisers within superannuation funds, covering a progression pathway from entry-level call centre roles to personal advice practitioners, including client engagement skills, technical training, and regulatory compliance.
• Consulting Services Specialist consulting for super funds covering advice model design, vendor procurement, risk and compliance practices, operating model transformation, member education models, and go-to-market propositions. Includes assignments on trusted advice, service design, and solutions execution.
• Super Recoveries Comprehensive unpaid super recovery services including proactive recovery, insolvency management, and consulting. Has recovered over $2 billion for members since 1994, with $226 million recovered in FY25. Includes employer contact, payment plan management, Letter of Demand issuance, and legal referrals.
• Insolvency Management Specialist team representing Trustees and members in dealings with administrators during employer insolvency or liquidation, actively advocating for members and pursuing recovery of outstanding unpaid super entitlements, including completion of Super Guarantee Charge statements.
• Payday Super Services Phased service model supporting super funds and employers through the Payday Super transition (effective 1 July 2026). Includes a preparation campaign, super support program, recoveries program, and escalation services with technology-driven compliance, predictive analytics to identify high-risk employers, and 24/7 chatbot support.
• SuperSmart Digital Platform Digital financial advice platform launched in partnership with Hostplus and Iress, providing a comprehensive digital advice tool for super fund members. Delivers a new era in financial advice for industry super fund members.

Quantifiable outcome

• IFS has recovered almost $2 billion in unpaid super back into member accounts since 1994.
• +4 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability8 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Kaplan ProfessionalcoreStrategic or Co-development PartnerIFS and Kaplan Professional jointly developed an educational framework for advisers within superannuation funds. The partnership encompasses a progression pathway from entry-level call centre positions to practitioners offering personal advice, covering client engagement skills, technical training, and regulatory compliance. Kaplan delivers accreditations and CPD training while IFS provides deep understanding of super fund needs and integrates the framework into its broader consulting and service offerings.
• GenNetcoreImplementation/ SI/ Consulting PartnerGenNet, a Microsoft partner with nearly a decade of experience in Microsoft Cloud modernisations, implemented Dynamics 365 Contact Centre and Teams Phone across IFS's Super Recoveries contact centre. The implementation unified telephony, customer engagement, and case management on a single platform within five months, increasing agent productivity by 20%. GenNet used Microsoft Copilot Studio to configure call flows, queues, and automations.
• IRESS (Xplan)coreTechnology or IntegrationIFS uses IRESS's Xplan financial advice platform (CRM, workflows) as its core advice technology. Xplan provides easy-to-use advice templates, automated workflows, streamlined technical and compliance processes, product research, and reporting. IFS also integrates SmartIQ for secure data collection through IFS Online Forms Portal.
• Dovetail Brand EngagementminorOthersDovetail Brand Engagement designed the IFS website (www.ifs.net.au), as acknowledged in the site footer.
• Industry Super Holdings Pty Ltd (ISH)coreOthersIFS is a wholly owned subsidiary of Industry Super Holdings Pty Ltd (ISH). ISH is owned by a number of shareholders including 16 industry superannuation funds. ISH serves as the parent holding company for IFS.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Insignia Financial (formerly IOOF): Insignia Financial holds multiple AFSLs and provides financial advice licensing, platform, and superannuation services in Australia. Comparable as an advice licensing and wealth management operator competing for the same AFSL and advice services market IFS serves.
• Russell Investments: Russell Investments provides investment solutions, consulting, and implementation services to Australian super funds. Comparable as a consulting and outsourced investment services provider to the same industry super fund clients IFS supports.
• Mercer Australia: Mercer provides superannuation consulting, investment management, and administration to Australian super funds, including advice licensing and member outcomes support. Directly comparable as an advice and consulting services provider to the same profit-to-member super fund segment IFS serves.
• Willis Towers Watson Australia: WTW provides superannuation, retirement, and investment consulting to large Australian funds and employers. Comparable consulting and advisory service offering targeting the same super fund buyer persona, with overlapping retirement income and member outcomes focus.
• Pillar Administration: Pillar Administration provides superannuation fund administration services to Australian funds. Comparable as a B2B outsourced service provider to super funds, though focused on administration rather than advice licensing like IFS.
• Link Group: Link Group (now part of Mitsubishi UFJ) provides superannuation fund administration, investor registry, and communication services to Australian and global super funds. Comparable as a B2B service provider to the same super fund customer base that IFS serves, with overlapping fund administration and member communication capabilities.

Emerging players

• HUB24: HUB24 provides an investment and superannuation platform used by financial advisers and super funds. Comparable as a technology-enabled advice and platform provider intersecting with IFS's digital advice and Xplan-based offering for super fund members.
• Netwealth Group: Netwealth provides a wealth management platform serving advisers, including super fund-aligned offerings. Comparable as a technology platform enabling digital advice, overlapping with IFS's Profiler IQ, Retirement Health Check, and SuperSmart tools.
• SuperConcepts: SuperConcepts (part of the IOOF/Insignia group) provides SMSF and superannuation administration and advice services. Comparable as a specialist super-focused services provider with overlap to IFS's advice and compliance support offerings, though focused on SMSF rather than industry funds.

Broad incumbents

• AMP Limited: AMP is a major Australian wealth manager offering superannuation, advice, and platforms. Comparable as a broad incumbent with advice licensing and super fund servicing capabilities, though its retail focus differs from IFS's pure super fund ownership model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@IndustryFundServices-om8vf
• LinkedInlinkedin.com/company/industry-fund-services
• Xx.com/IFSAustralia

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Industry Fund Services