Banks will struggle to profit from super: Sunsuper CEOBY JAMES FERNYHOUGH | WEDNESDAY, 23 JUL 2014 12:40PMBanks are going to find it increasingly difficult to make money out of superannuation as the downward pressure on fees continues, according to Sunsuper chief executive Scott Hartley. Related News |
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Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
Scott is probably right, but I'm not too sure the banks actually care whether they make money out of super...in fact, I am pretty sure they are prepared to lose money to win a customer who they can cross-sell other profitable products to.