We’re worth more: Super fund planners
Almost one in five planners who work for superannuation funds believe they should be paid more than $300,000 a year, the Money Management Salary Survey reveals.
Data from the annual survey found just 10 per cent of planners across all employer types felt their salary should exceed $300,000, while 17 per cent of those employed by superannuation funds said they were worth at least that much.
Planners employed by dealer groups or advisory firms were the second most likely claim they should be paid more than $300,000 for performing their current role, with 12 per cent reporting they believed they were worth it, just three per cent more than those reporting their salary was already at that level.
While super fund planners aspire to earning top dollar for their current role, the sector's best paid planners reported salaries of less than $170,000.
Retail bank planners were somewhat more modest in their beliefs of how much they should be paid, with 19 per cent claiming they were worth between $250,000 and $300,000, but none dreaming of pay packets above that level.
Planners working for accounting firms reported the lowest self-evaluation of their worth, with no respondents in this group believing they were worth more than $250,000, and just 14 per cent said they deserved a salary of up to $249,999.
The high salary expectations of super planners contrasts with the survey's finding that as a group they had the lowest education levels across the industry, as previously reported.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
