As it looks beyond the challenges of SuperStream, consulting firm IQ Group has expanded its Queensland operations in response to customer demand.
With the industry preparing to meet the Australian Prudential Regulation Authority's new reporting standards, IQ Group chief executive Graham Sammells said the firm was focused on reviewing the overall member engagement processes of its clients and the improvements that enhanced platforms could provide.
As a result, it had grown its consultancy team in the Queensland region.
"Queensland is proving to be a highly dynamic business environment for IQ Group and we look forward to continued growth of our team of specialist consultants and clients," Sammells said.
The group recently launched its ‘SuperStream Community of Practice Forum' where professionals can share experiences gained from implementing the industry changes.
The regulator has fined two super funds for misleading sustainability and investment claims, citing ongoing efforts to curb greenwashing across the sector.
Super funds have extended their winning streak, with balanced options rising 1.3 per cent in October amid broad market optimism.
Introducing a cooling off period in the process of switching super funds or moving money out of the sector could mitigate the potential loss to fraudulent behaviour, the outgoing ASIC Chair said.
Widespread member disengagement is having a detrimental impact on retirement confidence, AMP research has found.