Super body on the cards
An industry body representing smaller superannuation funds is set to launch within the next few weeks.
An industry body representing smaller superannuation funds is set to launch within the next few weeks.
According to AM Corporation chairman David Smith, the Small Independent Su-per Fund Association (SISFA) is to be set up to fill a vacancy left by other industry bodies representing superannuation funds.
“Previously there has been no voice for small do-it-yourself funds in the market,” he says.
SISFA has already hired a lobbyist, a former politician, who has represented the interests of the smaller funds to Government during the passing of the Superannu-ation Legislation Bill No.3 (SLAB 3) and SLAB 4.
The group is currently seeking the appropriate licensing requirements and exact timetables for its launch are still unknown. However, it is believed that AM Corpo-ration has put its marketing muscle behind the group and is actively garnering in-terest from the industry.
Ends
AUTHOR
Jason Spits
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
