13 super funds failed the government regulator’s performance tests in the year ended 30th June 2021. Those funds were forced to write to their members, pointing out the performance failures and telling members to look at moving to higher-performing funds.
What is a person to do when faced with this sort of letter? Who can you turn to? What information do you need and how do you know your choices will be correct? There are so many questions for anyone receiving one of these letters. A number of media articles have highlighted the failures and the fact that only a small number of the roughly 1 million members of those funds, have actually shifted to another fund. The primary avenues for advice are:
If you wish to receive advice from a financial planner, there will be a fee payable. The financial planner will need to meet strict requirements for understanding your position, investigating options and presenting the results to you in a written Statement of Advice.
There’s a lot to consider.
For further reading, we have included below a link to an article on this topic written by one of our advisers, Michael O’Hara.
We think achieving financial goals
is easier if you have access to leading edge information.
Accordingly, we have established a portal known as the Financial Knowledge Centre, and it’s available to all our clients at Wealth & Security Planners, Streamline Financial Planning and Advice4Me.
As a part of the launch of this site we are providing clients with 6 months complementary membership as a “thank-you” for your loyalty and business. Through the Financial Knowledge Centre, you will have access to a range of tools, calculators and information.
The site is a little hub of information, offering learning modules, news articles of interest, videos to spark your curiosity and unbiased commentary.
Please let us know what you find
interesting, and where improvements might be made. Feedback is always
Of course, you can still contact us,
for personal financial advice tailored to your circumstances – including
comparing loans, insurance, investments and superannuation accounts.