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Australia's retirement system receives first A-grade
|Australia's retirement system has finally received an A-grade rating in the annual Marsh CFA Institute Global Pension Index after stagnating at the B+ level for the last five years.
Brighter Super changes up investment, insurance fees
|Not-for-profit fund Brighter Super has introduced numerous changes to its fees, decreasing investment fees while increasing insurance costs.
Channel Capital wins distribution mandate
|Channel Capital has been appointed by Coller EQT to distribute, promote and service investor support to the two secondaries strategies currently available in Australia.
Perpetual asset management outflows hit $9.6bn
|Perpetual's asset management business recorded $9.6 billion in net outflows during the September quarter, weighing on funds under management as its Corporate Trust Division reached a record $1.4 trillion in funds under administration.
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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.







These amounts are extremely high particularly given the sameness of many of these funds and their historical roots in trade unions. Over a million bucks to do your best to perform like everyone else and pretending to look after the workers? Wow....
We don't pay commissions
Industry Super Funds....only run for the benefit of our members!!
Two things come to my mind.
1 - We have all seen the commercials showing a large hand in the pockets of superannuation Funds members. From reading this article one has to wonder who's hands are these?
2. Considering the earnings of most members of the above mentioned Funds, isn't it disgraceful to see the enormous gap?
Most members, if not all, will never see in their lifetime, an amount as large as the amounts "earned" by these executives in a year.
It is amazing the lengths some funds go to to hide their disclosures on their website but you can find it after about 20 minutes of searching under "Relevant Disclosures".
Animal Farm is as relevant today as ever!
Granted, these salaries (over $400K in my opinion) are excessive but let's see some salaries (profit margins) for financial advisers, banks and retail fund senior management.
No matter how the above contributors spin it, individual retirement benefits are maximized if you are a member of an industry fund. This includes SMSF and retail funds. Read some Alan Kohler for his opinion on Retail Superannuation Funds and Retirement Villages. It's especially enlightening for retirees.
The stats say it all and the Government are committing a crime against the community is they continue on their present course of destroying the non-profit essence of industry funds, in favour of the big banks.
And now for the retail funds salaries please?
But Industry Super Funds claim they have low fees and are run entirely for the benefit of members.
To Gratuitous Adviser - please explain how retirement benefits are maximised, when a decent, low-cost Retail Super fund with a SIMILAR investment/asset mix perform much the same. This is the fallacy perpetuated by millions of dollars spent on advertising.
Oh yes, ask AK. Like he doesn't have his own barrow to push? Just because he is on the (severely biased) ABC doesn't mean anything these days. I don't expect we will see this article appear on a poorly disguised 'Consumer benefit' program.
I suppose on top of the salaries, you'd add the benefits like the numerous visits to the corporate boxes at various sporting stadiums etc. More like 'Run to benefit Fund and Advertising Execs'.