Julie Berry
The Financial Planning Association (FPA) has sought to exert a steadying influence on superannuation fund members who will be receiving their annual statements revealing a substantial decline in returns at the same time as reading about quarterly data suggesting further falls.
FPA chair Julie Berry said there was a great deal of volatility in financial markets at present but investors should be cautious about knee-jerk reactions to the most recent quarterly super results.
“If anything, the turnaround should encourage Australians who are not getting professional financial advice to go out and get it,” Berry said.
She said it was important that Australians sought professional financial advice to help them ride out the current climate and be better prepared for the future.
“Super members must remember that superannuation is a long-term investment and the focus should therefore be on a five and seven year performance number, or even 10 years,” Berry said.
“Seven out of 10 Australians do not currently make use of the services of a financial planner, but recent research shows that those who do are generally far better off and far more confident about their ability to weather economic uncertainties, including such issues as the negative performance of super during the last quarter,” she said.
