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
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
