At least these super members might get something for their insurance premiums.
Why don't they look into fund managers charging fees such at 1.5% of the total balance for pretty much nothing. How can they justify these high fees when others can do exactly the same for fees as low as 0.2% and get the same returns. These crazy high fees are just stealing the wealth of Australians and giving them to overseas fund managers with no benefit going to the consumer.
When you look at independent advisers running their own MDA's they can do it for as little as 1% and dont have the economies of scale like these big international investment companies.
But of course. Banks and international fund managers are untouchable as ASIC and government employees want to go sit on their boards in the future years and get paid for doing even less than they do now.
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