The latest issue of Financial Standard now available as an e-newspaper | | ELIZA BAVIN | 11:58AM MLC Life has lost the Qantas Super mandate with the super fund announcing a new mandate. | ELIZABETH MCARTHUR | 12:06PM There is a gaping void between what consumers once wanted from financial advice and what they want now and it's being accelerated by COVID-19, according to research from KPMG. | | | KANIKA SOOD | 12:35PM The country's largest superannuation fund has appointed a head of financial crime, security and resilience, reporting to its chief risk officer Paul Schroder. | KANIKA SOOD After BetaShares' success in attracting investors to its geared, index-shorting ETFs during COVID's market decline, another player is getting ready to throw its hat in the ring. |
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The super industry has been up in arms to ASIC about this for years yet ASIC has been the main culprit, insisting that PDSs contain more and more information - 99% meaningless to ordinary superannuation members.
So why have advisers for years had to give out what is now recognised as meaningless information? Just a waste of time. Compliant advice has never been the equivalent of good advice. ASIC has never understood this. No wonder people try to DIY their super, insurances and investments. No wonder people don't like paying for "advice" when there's so much meaningless information involved. When will we be allowed to get back to basics???
ASIC you are the one who wants the disclosure. You started this war. Don't complain that it doesn't work. Of course no one reads the PDS. You didn't need to conduct market research to discover that.