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
23 Jan 2018Financial advice changing of guard ‘positive’By Staff Reporter
23 Jan 2018Royal commission, best interests duty and 2018 outlookBy Staff Reporter
23 Jan 2018Advisers challenged by geopolitical climate: reportBy Staff Reporter
23 Jan 2018ASIC to shadow shop mortgage brokersBy Annie Kane
22 Jan 2018Consumers less confident buying insurance onlineBy Staff Reporter
22 Jan 2018Hub24 announces platform enhancementsBy Staff Reporter
- view all