Industry Super Funds have received constant bad press over the last two months as the reality of their deceitful "marketing strategy driven" investment portfolios have emerged. ASIC obviously wants to look after their Industry Super Fund mates by hitting the financial adviser profession with a generalized attack in the hope that this story hits the headlines of the main stream media. After all ASIC needs to defend its default employer superannuation fund. Does anyone know a financial adviser who has provided advice to a client regarding a Covid-19 early superannuation withdrawal? I won't touch it and every adviser who I know has the same view. People are not asking their advisers, they are going directly to the ATO website and applying for the early release.
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