POWERED BY MOMENTUM MEDIA
Low account balance pre-retirees looking to super funds
Up to a quarter of pre-retirees are as likely to look to their superannuation funds as they are to ask financial planners for retirement income advice, according to the latest research from Investment Trends.
The research, contained in the Investment Trends 2017 Retirement Income Report, also pointed to the likelihood that individuals with superannuation balances of less than $100,000 were likely to seek advice from their super fund rather than from a financial planner.
The research pointed to both the demand for advice emanating from pre-retirees for advice in meeting their retirement goals and the opportunity this presented to superannuation funds and financial planners.
“When seeking help with their retirement goals, Australians are most inclined to turn to a financial planner (33 per cent) or their super fund (25 per cent) for assistance,” according to Investment Trends senior analyst, King Loong Choi.
“Opportunities abound for both financial planners and super funds given the level of interest shown by Australians for further assistance,” he said.
However, he noted that, right now, individuals with super balances of less than $100,000 were just as likely to seek help in achieving their retirement goals from planners as they are to seek help from their super fund.
“However, the story is different among those with a super balance greater than $100,000, where financial planners are significantly more preferred,” Choi said.
Recommended for you
The pace of economic growth in Australia is expected to “grind higher over coming quarters” off the back of lower inflation, falling interest rates, and a robust labour market, Deloitte has said.
The superannuation sector has welcomed confirmation that a controversial US tax provision will be removed.
A new analysis from environmental finance group Market Forces has reportedly discovered that AustralianSuper is on the b...
Treasurer Jim Chalmers has held talks with US Treasury Secretary Scott Bessent, intensifying efforts to resolve concerns over section 899 of the proposed “Big Beautiful Bill” in the United States.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
