Industry funds attack banks on superBY DARREN SNYDER | MONDAY, 31 AUG 2015 12:55PMIndustry Super Australia has launched a series of advertisements putting their case ahead of proposals likely to change the way employer and employee default superannuation funds are selected. Related News |
Editor's Choice
Vale Mark Johnson
Mark Johnson, a founding leader of Macquarie Group, has passed away.
Inflation hits 4.3%, RBA says it remains 'too high'
Australia's inflation rose to 4.3% in the 12 months to September, according to the latest data from the Australian Bureau of Statistics (ABS).
Cbus creates new role for legal operations
Cbus has welcomed a legal specialist to join the fund in a newly created role of group head of legal operations and strategy, bringing relevant experience from regulators ASIC and APRA.
Dexus to pay $30m in legal bills for leaked airport data case
The Supreme Court of NSW has ordered Dexus to cover close to $30 million in legal costs incurred by Melbourne Airport owner Australia Pacific Airports Corporation (APAC) and its shareholders, after the property giant lost a court fight over claims it improperly shared confidential data while trying ...
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. |  |
See Brad.
Someone is standing up for their members. Where was AFA when the banks pushed the individual small risk advice firms into possible liquidation?
I'll say one thing for the Unions, they wont take any backward steps.
Industry Funds such as Australian Super can no longer call themselves 'profit for members'. By selling SuperPartners to Link/AAS and outsourcing their administration to Link/AAS, then they have now become like any other retail super fund in Australia whereby the administration of the Fund is run for profit.
Any claim to be 'profit for member' is in my view misleading.