SMSF customers more satisfied: study
Self-managed super funds (SMSFs) breed more satisfied Australian customers than their industry and retail counterparts, according to a survey.
The super industry received a score of negative 29 per cent (29 per cent more poor marks than positive ones), with the worst performing fund receiving a score of negative 53 per cent, Engaged Marketing's Superannuation Benchmarking Study of more than 3700 fund members found.
In contrast, SMSFs scores a "net promoter score" of negative 5 per cent, with greater control over fund investments marked as a key reason for the comparatively better score.
Almost a third (32 per cent) of SMSF users had moved across after advice from their accountant, it showed.
"What's missing with traditional super funds is the perception of value among members," Engaged Marketing Managing Director Christopher Roberts said.
"Because of the compulsory nature of super, Australians see super funds as essentially offering the same commodity with very little differentiation and low product involvement. This makes it very hard for members of funds to gain a sense of value."
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
