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Super fund restructures, adds new rolesBY JAMIE WILLIAMSON | THURSDAY, 31 MAR 2022 12:49PM
An industry superannuation fund is consolidating its member service and marketing functions in a restructure that sees the addition of some new roles and the departure of a longstanding executive.
Read more: Legalsuper, Andrew Proebstl, Carrie Norman, David Eastwood, APRA, Link Group
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The industry fund has reduced asset-based administration fees across Rest Super, Rest Corporate and Rest Pension, saying its total fees are now at least 25% less than the industry average.
Members of the Authorised Representatives Association (ARA), have voted to close the 40-year-old association and merge with The Advisers Association (TAA).
Mercer Financial Advice is being sued by ASIC over fee for no service conduct that continued after the Royal Commission and impacted members of both a corporate and government super fund.
Federal Reserve chair Jerome Powell flagged that the US Federal Reserve had to raise rates rapidly to mitigate higher inflation, even if that increased recession risks.
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