“Interesting to read an article from an online news publisher owned by a group of industry super funds bagging bank-owned superannuation fund sector regarding new research from Industry Super Australia (ISA). No surprise that the union of industry super funds directed yet again another attack on its bigger competitor...” says Heart Financial Advisers Principal, Stu Varidel.
The article stated: “Consistent outperformance by industry super funds over bank-owned super funds reflects the differences between for-profit and not-for-profit business models”. The reality is that the data collected is just not comparable and fails to tell the whole story in an accurate manner. The article stated that retail only achieved 3.3% and Industry achieved 5.2%.
Stu went on and said: “From where I see the situation the only super you should have is one that is under the advice of a financial adviser. I recently compiled some historical data of client returns and came up with an average net return 7.2%. Interestingly this level of performance beats all sectors by a country mile. This is good for my clients and not so good for those you are not actively engaged with an adviser. Like so many things in life, it is not what you know but who you know that makes all the difference. Most Australians don’t receive any advice on their super regards of whether it is an Industry, Retail or other fund full stop. The point here is simple, get some advice and you will do better.”
“The bigger issues lie in the general disengagement of most Australians with their super and the lack of financial literacy. Sadly, the media doesn’t see any value and pushing this agenda!” said Stu.
If you want to engage with your super and become financially literate please call Stu on 1300 861 143.
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