“Down to earth” choice guide released
To fulfil its educational responsibilities in the lead up to super choice, the Federal Government has made a booklet available to guide consumers in straightforward language on how they can take control of their super independently.
Produced by the Australian Securities and Investment Commission, Super Choices contains tips for consumers on how to compare retirement benefits, insurance benefits and fees between different super funds with the help of a super calculator and a ‘do-it-yourself’ worksheet.
However, the first page recommends that consumers consult a financial adviser if they want more personalised financial advice.
“The information here can start you off on the right foot with general tips and explanations. However, not all of these ideas may apply to every fund or to your own circumstances. If you want personalised advice about super see a financial adviser,” the booklet says.
The rest of the 28 page booklet, released just weeks after the Government launched its super choice advertising campaign, includes chapters entitled ‘Choosing a fund’, ‘Choosing your investment strategy’, ‘Complaints about your fund’ and ‘Getting super before your preservation age’.
“No one can reliably pick which fund will perform best. It’s far more reliable to pick the right investment strategy and fund features with low fees, and take the ups and downs of investment performance in your stride,” is one of the booklet’s tips.
Super Choices can be downloaded from the Government’s super choice website at: www.superchoice.gov.au.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
