Financial Standard Comments - Intrafund advice a sticking point for Stronger Super group No agreement was reached by representatives of the Stronger Super Peak Consultative Group on the contentious issue of intra-fund advice, a source present at the meetings has said. https://www.financialstandard.com.au/feed/latest?story=12152598 Tue, 02 Aug 2011 16:36:46 +1000 Tue, 02 Aug 2011 16:36:46 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Trevor () If there is "NO CHOICE" then there is no need for financial product advice.
However, we do absolutely need to get rid of the current and existing "RORT" of the fact that Investment Fund Manager's charge retail investment charges and then rebating the difference between the retail and wholesale investment management charges in the "POOLED" superannuation environment to the Trustee, Responsible Entity and/or Administrators including INDUSTRY SUPERANNUATION Funds amounting to millions of dollars each and every year.
This investment management rebate being as high as up to 0.6% p.a. of the assets under management. This rebate belongs and should flow on to the members that belong to that particular investment in the pool not the Trustees, Responsible Entity nor the Administrators.
The Trustees, Responsible Entity and platform Administrators are paid from the annual administration charges that can be as high as 0.55% p.a.

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]]> Trevor () Tue, 02 Aug 2011 16:36:46 +1000