Advertising won't grow membership, super funds toldBY JAMES FERNYHOUGH | WEDNESDAY, 3 SEP 2014 12:40PMSpending big on advertising may build brand awareness, but it has no effect on membership growth, according to research by CoreData. Related News |
Editor's Choice
MLC AM targets EM strategy with fresh mandate
MLC Asset Management has selected a global investment manager to leverage its 16-year-old emerging markets strategy.
Digital assets on the right path: Industry
Digital asset providers have evaluated the October deadline and ASIC's consultation on the looming digital asset laws and determined that these developments mark a pivotal point on the sector's implementation journey.
NCAs unlikely to solve retirement advice gap: HUB24, CFS
HUB24 and Colonial First State (CFS) say the New Class of Advisers (NCA) will unlikely solve the retirement advice gap Australians face, noting the focus needs to be on helping reduce friction for those with complex advice needs.
AustralianSuper rolls out new investment data platform
AustralianSuper has implemented a new investment data platform designed to improve portfolio oversight, risk management and decision-making as the superannuation fund expands its global operations.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
It appears the research results from CoreData negates the commentary from various Industry Super Funds that attempted to justify very large financial commitment to advertising programs across all facets of media, sporting team sponsorship and events for the reason that the spend was to build brand awareness which resulted in increased membership and which in-turn lead to cost efficiencies for all members based on volume and scale. In other words...."spend and they will come".
So, do the members of these funds appreciate the huge spend of their money on the building of their super funds brand with no direct resulting growth in membership?
Are the trustees of these funds approving this process in the knowledge that based on research, there is no quantifiable link between the financial commitment of members monies to advertising and an identifiable benefit flowing back to the members, other than their super funds logo is better recognised? Don't they have a primary responsibility to act in the best interest and to make decisions that benefit their members?