World standard super fees needed
Nick Sherry
Australia needs to move towards a superannuation system in which fees and charges are more competitive by world standards, according to the Minister for Superannuation and Corporate Law, Senator Nick Sherry.
After nearly a month of media coverage and commentary regarding a Federal Government review of the costs associated with superannuation, Sherry used an address to an Adelaide financial services symposium to refer to the range of business and remuneration models operating across the superannuation industry.
“It’s high time we took a long, hard look at the operation, structure and cost of our superannuation industry,” Sherry said. “I would like to see Australia move towards a superannuation system in which fees and charges are competitive by world standards.”
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
