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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
I'd like to clarify one thing in your story. It's not that existing MDI options don't work - it's that they involve lots of moving parts, plenty of trustee involvement & lots of complexity all round. It's coming to terms with all of this that seems to have slowed down the momentum for MDI implementation.
In my talk, I identified a range of areas where MDI could be - & will be - extended but this is going to take some time, & will be accompanied by the growth of associated advice services.
Does this explain why Australia's largest super fund has increased its Member Direct annual fee by a massive 119% effective from June 1st, 2015? Is this an exit strategy or just a means of having members fund ballooning costs of running MDI options. Such fees render the MDI option borderline.