Sherry foreshadows announcement
The Minister for Superannuation and Corporate Law, Senator Nick Sherry, has foreshadowed that he will soon be announcing details of the formal review of superannuation costs.
Sherry has used an address to an Association of Superannuation Funds of Australia function in Canberra to flag that the Government is close to making an announcement.
Discussing superannuation, he said some important challenges lay ahead for the Australian superannuation system and the key issue for the Government was maintaining the safety, stability and efficiency of this system.
“While the Australian superannuation system is strong, stable and continues to deliver, there is still scope for improvement,” he said. “It’s high time we took a long, hard look at the operation, structure and cost of our superannuation industry.
“We need to consider these issues across all sectors of the industry — corporate, public sector, industry and retail, as well as the self-managed superannuation fund sector,” Sherry said. “Any examination should be conducted in a thorough, open, transparent and highly engaged manner. I will have more to say about this shortly.”
AUTHOR
Mike Taylor
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
