Westpac opens up the super market
Westpac has developed a low cost superannuation check designed to help Australians with assets of between $5,000 and $100,000 better understand and organise their retirement funds.
Commenting on the $199 Super Health Check, Westpac general manager of advice Sally Herman said that until now it has been too difficult for Australians with less than $100,000 of investable assets to access affordable advice and, considering Australia’s average super balance is around $45,000, she said too many people are missing out on the advice they need.
“During the accumulation phase, the majority of Australians simply require super advice on three things: How much do I have? How much do I need? And will I have saved enough by the time I retire?” she said.
The Super Health Check will provide personalised advice about the dollar value of retirement and will give advice about fast and effective ways to grow super and make the most of it. It will also explain how to access benefits such as the government co-contribution scheme.
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
