In order to fulfil the Future of Financial Advice best interests duty, financial advisers should be recommending industry superannuation funds, according to the Industry Super Network (ISN).
In a statement responding to the finding by ratings agency SuperRatings that industry funds have “again outperformed master trusts funds over all periods”, ISN chief David Whiteley said non intra-fund advisers should take heed.
“Under new laws, financial planners are required to act in the best interests of their clients,” he said.
“Given that fund performance is one of the most important factors in choosing a super fund, industry super funds should come out on top in the recommendations of financial advisers to their clients.
“In the seven- and 10-year periods, industry super funds have performed particularly well – which is most important given the long-term nature of superannuation.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
News
-
21 Jul 2017ClearView adviser re-appointed to TPBBy Staff Reporter
-
21 Jul 2017ASIC may get phone-tapping powersBy Tim Stewart
-
20 Jul 2017Former FSC, Turnbull government staffer joins BTBy Staff Reporter
-
21 Jul 2017CPD should count, says overwhelming majorityBy Larissa Waterson
-
20 Jul 2017Centrepoint adviser cops permanent banBy Staff Reporter
-
20 Jul 2017Boutique takes stake in AMP practiceBy Staff Reporter
- view all
