Super for beginners, part 11: Is my super fund good enough?
Q: I have my super with a major financial organisation. I’m wondering, are they a good company to be dealing with? I feel that their fees are a bit high: based on an investment amount of $300,000 the MER amount is $6,600 plus a monthly admin fee of $8.44. What are your thoughts on this matter?
Financial advice revamp: by the Shorten curlies
On 28 April 2011, the Assistant Treasurer and Minister of Superannuation, Bill Shorten made a brave and revolutionary announcement: he struck at the heart of the financial services industry money-making machine — by banning commissions and volume-based payments.
THE SOAPBOX exclusive: Only 7 truly independent financial advisers in Australia
And SuperGuide has the list, again! In February 2010, we published a list of 14 truly independent advisers in Australia which triggered much controversy and angst from the financial services industry, and from SuperGuide readers. Well, SuperGuide is at it again, and the number has halved – to 7!
2011 Federal Budget: What about super’s 4 forgotten issues?
In September 2010, I published a to-do list of 16 major superannuation issues needing action by the Federal Government post the Federal election. I published this list in the form of a public memo, as a helping hand for the newly appointed Minister of Superannuation, Bill Shorten.
THE SOAPBOX EXCLUSIVE: How to spot an independent adviser
In this exclusive article, the president of the Independent Financial Advisers Association of Australia Limited (IFAAA), Daniel Brammall, shares his tips on how to spot an independent adviser, and also how to spot an adviser who is NOT independent.
Help! How can we find independent investment advice?
Question: My husband and I are looking to start a SMSF. We have been able to find sources for the set up, accounting and audit of the fund and are now looking for assistance on the portfolio.
Six dangers when seeking super fund advice
I have been writing about, or working in or on the sidelines of the financial services industry for 20-odd years and the regulator and the advising industry are only now, in 2011, really grappling with how consumers make investment decisions and the influential role that advisers and financial organisations hold in distributing investment products.
THE SOAPBOX: Not the time to quibble (financial advice)
I want to give you the heads up on what significant players in the financial advisory industry are now trying to do, to further compromise the quality of financial advice.
Life expectancy: Will you outlive your retirement savings?
Now that super funds, fund managers and other financial service providers have (nearly) survived the GFC, the next big issue concerning the super industry is ‘adequacy’, that is, the worry that Australians will outlive their retirement savings.
Mr Shorten, Here’s your superannuation to-do list
Dear Mr Shorten – You have a busy few years ahead of you.
FEEding frenzy: super fund fees
When superannuation funds are delivering strong returns, you don’t see much written about the costs of investments, including the costs charged to member accounts by super funds. When returns are poor however, fees become more obvious.
