Verve Super launches to drive corporate change
Verve Super, Australia’s first superannuation fund built for women, by women, to tackle inequality in the financial system, has launched today.
The superannuation fund, which is the first to rule out investing in companies which won’t commit to adding women to their board, is designed to maximise retirement savings by providing coaching and mentorship to members, and product features like a parental leave fee pause.
CEO and founded of the fund, Christina Hobbs, said the financial services sector was failing women, with men leading 93 per cent of the financial services companies in Australia.
“As a community of women who care about building the financial power of women, we are in a unique position to harness our membership and agitate for policy and corporate changes to support all women,” said Hobbs.
Alex Andrews, head of member and community advocacy, said by 2025, Australian women would hold an estimated $1.5 trillion in superannuation assets, and, in the hands of women, the funds could be used to drive changes in corporate Australia.
The fund would also offer services tailored for women, including tech-enabled financial coaching, resources and events matched to the goals, incomes and life cycles of Australian women.
Recommended for you
Treasurer Jim Chalmers has handed down his third budget, outlining the government’s macroeconomic forecasts and changes to superannuation.
Online investment adviser and fund manager Stockspot has introduced Stockspot Super, Australia’s first 'ETF only' superannuation product. superannuation product.
ASIC has called on superannuation funds to improve their oversight of advice fee deductions following an investigation of 10 trustees that found $990 million was charged in one year.
With just 30 per cent of Australians knowing their superannuation balance to the nearest $1,000, Findex has emphasised the role of financial advice in addressing the critical super knowledge gap.
