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 |
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Andrew Gregory
CHIEF ADVICE OFFICER
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After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.
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.