Super comparators: the marketplace
SuperRatings
SuperRatings says its SMART funds research averages at $3,000 for single users and $35,000 for multiple users. Given the modular format, a suburban planner may only want a single module. SMART funds cover macro information and gives a brief snapshot into investment.
The ratings work on a platinum, gold, silver, bronze and blue coding, and assessment categories are by investment, pricing, administration, advice, governance, insurance and qualitative overlay.
Heron Advisor
Heron Advisor works by giving funds a scoring out of 100, and covers up to 80 products with up to five funds able to be compared at one time. Their assessment covers:
~ organisation;
~ product overview;
~ investments;
~ insurance;
~ ancillary benefits;
~ communication;
~ contributions; and
~ fees and charges.
The product comparator is $2,000 per annum per subscriber.
Mercer <IS> Super service
The Mercer <IS> Super service covers over 100 industry, corporate, government and public offer funds with 1,800 investment options. The cost varies by the size of the subscribing group.
The Mercer service does not give an overall rating — rather, it provides star ratings on the investment options. Assessment criteria include:
n investment (looking at the underlying manager and not just historic performance);
~ insurance;
~ services; and
~ fees.
Rainmaker Marketplace
Marketplace is Rain-maker’s premium service, aimed at distributors and planners and includes the superannuation compare online service, giving access to the database on superannuation.
Information is updated quarterly and performance covers super funds with $300 billion of funds under management representing 15.5 million accounts. Specifically, this includes 3,000 investment options from 200 super funds and 120 not-for-profits and 80 master trusts.
Assessment categories include:
n investment performance;
~ organisational strength;
~ administration;
~ communications;
~ insurance;
` extra services; and
~ fees and charges.
The service is licensed to either the distributor or bought individually by the planner. A small practice could pay as little as several thousand dollars. SelectingSuper Compare Online is the entry-level service.
Chant West’s Personal Super Research
Chant West compares retail superannuation funds and, where appropriate, wholesale funds, looking at multi-manager investment options only. Using its apple rating system, the rating is weighted on six criteria:
~ organisational strengths (10 per cent);
~ investments (40 per cent);
~ fees (15 per cent);
~ insurance (10 per cent);
~ administration (10 per cent); and
~ member services (15 per cent).
Three products can be compared simultaneously and the data is updated quarterly.
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
