History
Compulsory super was introduced nearly thirty years ago but, based upon recent reports, it has been and is being very badly managed. Surely with the direct attention of government, banks, and unions, super should be a well-established positive within Australia?
Wayne Swan, the former treasurer, recently wrote that super fulfils two goals:
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All Australians can retire on an income.
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Australia has a national asset that can be used to support the economy through difficult times.
Is super part of your financial package or not, and is it a personal asset or not? It is truly noticeable that, for all the publicity, everyone else is interested in your asset except the person who owns it. Maybe this is partly true simply because no one has created a digital service interface to actually provide beneficial personal advice around choice of product, how to use that product, and then how to make sure that through time you are still in the best choice of product.
The market is dominated by government regulation and by large entities all of whom want the availability of personal scaled advice kept secret, simply because it would damage their own market model.
Welcome
Personal scaled advice is now available to the masses from a source not owned by product, all of whom falsely promote their market brand as simply the best!
Largely due to the complexity of government regulation, it has taken 7 years to develop SuperWiser, an application now being presented to the market. Psychologically, the public finds super somewhere between confusing, changeable, and irritating. It is too easy to understand why this is so but that is most people’s basic opinion. The public is just beginning to rethink what they should do to better manage their super, an asset that will grow to be of particular importance late in their career.
Welcome to a new super world!
The Overview
First of all, SuperWiser does lots. As an application, the advisory process within SuperWiser is automated and therefore the service is offered at an affordable price. SuperWiser does not offer a full financial planning service as this is seen as a high margin service of low financial value. SuperWiser has a database of some 40 popular super products, the ability to collect and collate your personal circumstances and the ability to provide you with comparisons around product choice and choices within your recommended product.
One little known fact around super involves an examination of all the costs involved. While one market segment might promote best returns, they do not reveal that they can be high on insurance premiums. SuperWiser takes such facts into account when examining what is best for you in your current circumstances.
Super is Complicated
The fact is that super is complicated. There are many factors to be considered and the only sensible approach is in a full data analysis of every provider’s proposition to market. The algorithm behind SuperWiser is well designed and constantly being tested. SuperWiser analyses the offering by each product methodically. The functionality of every product has been considered by the Asset Management Committee around the capability of their investment choice menu to outperform the default offering by product.
In short, SuperWiser actually does what would be impossible to do no matter how experienced you are within the financial services industry, mainly because you have to consider everything as opposed to just some things.
SuperWiser will continue to re-examine everything and will be updated as appropriate to re-consider the choice to be made now as distinct from the choice you made in the past.
Why Not Try SuperWiser?
What every individual really needs is a source of information around super which is service as opposed to product based. SuperWiser is that service. You do not have to pay to have an initial look. Start your free Super Review to examine the SuperWiser concept.
Everyone should have a management plan for their super as otherwise it will underperform. To progress your thoughts around what you are currently doing for yourself, the application will tailor your free Super Review calculation based upon some personal details.
Upon your authorisation, we will liaise directly with your super provider to obatin the exact details of your super and its current management. Should you want to proceed to pay to obtain strategic advice, SuperWiser then provides recommendation to improve on what you are currently doing for yourself. The quicker you start to better manage your super, the more choices you will have at retirement.
Not Only Advice But Also Service
SuperWiser will assist you to implement your proposed strategy but even better still, SuperWiser will monitor your progress towards your goals and objectives based on your stated parameters of performance and your milestones.
As each year progresses, the product database within SuperWiser is updated and reanalysed as products either improve or go backwards depending on the quality of their management. Clearly, the available solutions need to be monitored to ensure you are in the right solution available today as opposed to what might have been good a few years ago.
SuperWiser is vigilant in monitoring developments within the market that you might never know about but for the services provided automatically by SuperWiser.
User Experience
The prediction is that, like all things super, SuperWiser might initially bring such irritations to the fore but normally the cure is at hand when you feel the worst. The actual technology is not actually new, different or complicated. It is super which irritates and SuperWiser is the cure.
Phone support is available and is provided on a proactive basis as opposed to a reactive basis. The intention is that we call you to help as opposed to you calling us to be rescued. Your progress through the application is being monitored and at times checked to ensure there are no input errors on your part. We will always help you to be right!
Welcome And Have A Go!
Do something now as you will appreciate the wisdom of your choice when you find yourself at age 60. Be aware that time passes faster than you think. As the Romans once said “tempus fugit”. As my Dad used to say, “Time passes too quickly but you wear the consequences of what you do and what is not done”.
Start your free Super Review today.
Government Overreach?
The government has just announced the passes and fails amongst the multitude of MySuper investment options. It is a fact that the government is still trying to fix super after almost thirty years of regulation and then more regulation. So, what’s so different about this time?
Well one would have to say that the current approach by the government in promoting the MySuper model in controlling the performance of your super is a step beyond their role as the legislator and regulator of what is legal and what is a crime? It appears to be a statement that Australians are unable to optimise their super asset in developing it as a future income in retirement. Is MySuper the long term solution to managing an asset that is currently at $3 trillion and growing fast?
Is the MySuper investment default model the best option for your asset and is the dependency on measuring performance based on current costs and historical returns the best way to determine the future value of your asset?
Are our politicians tremendous commercial managers in shaping a much improved financial services industry? Are cost and historical investment returns a reliable basis to indicate what needs to be a future and sustainable performance? Is the government in a position to provide an explanation on why a historical investment performance is a statement of current capability in terms of asset management? Is any MySuper investment default at all transparent in how the asset is invested and what are the long term risks involved in various asset classes and geographies? Does any individual even examine the asset allocation of MySuper and consider the variation in geographical allocation across different platforms?
The lack of explanation, justification and therefore transparency around MySuper as a superior investment strategy is surely apparent to everyone. Or is it?
My SuperWiser
Having been instrumental in developing SuperWiser to its current state of readiness (so after nearly 7 years in development), I do not expect SuperWiser will ever recommend you to optimise your super by investing in a MySuper investment option. SuperWiser has a number of underlying advantages which make the application superior to other personal service models:
- It is an online application and thereby available 24/7.
- SuperWiser works by way of an algorithm developed by an external actuary.
- SuperWiser has a backend, known as Module Manager containing details of some 40 products and all the details to enable a mathematical comparison depending upon your circumstances.
- Independently of SuperWiser, the license holder, AXIS Financial Group Pty Ltd, AFSL 233680, carries out an in depth assessment of every product within SuperWiser’s module manager around product capability, based upon optimising super as a projected income in retirement.
- SuperWiser does not need anyone else’s permission to service you as it is your decision to participate or not.
- Should you need some help in progressing within SuperWiser, there are a number of access points available if you need an adviser intervention.
- SuperWiser provides ongoing advice within a service model designed to encourage or remind you to pay attention to your super at critical points in time.
- As SuperWiser is an online application with all the benefits of technology, the application offers a solution to everyone at a very affordable cost: full personal advice around your super for $220 inclusive of GST
SuperWiser Works For You
There is no product involvement or influence with SuperWiser and the sole intention is in offering a digital service interface to all individuals in need of super advice. However there are features that are very supportive and applicable to all and then there are individuals who have much more specific requirements.
SuperWiser as it is designed does not do pre-retirement planning and does not compare pension products as yet. SuperWiser’s current focus is on the biggest proportion of employees who are accumulating their super assets as opposed to employees planning their imminent retirement.
As you progress through the application, SuperWiser will illustrate and further tailor a comparison between your current strategy and what you could do for yourself, described as your proposed strategy. Your proposed strategy might require a change in product and, as a minimum, will require a change in how you use the features available within your product.
SuperWiser finalises a personalised comparison between your current and proposed strategy before you have to actually pay anything. If you want to see the detail of your new proposed strategy, you need to pay a one-off fee. Implementing the proposed strategy is included in this fee.
After payment, you do have the opportunity to modify your strategy before proceeding to implementation. SuperWiser does not just give you a singular product recommendation, should you be advised to move to another product. It informs you around the top three products and the comparable projected income in retirement for each product. As this is a projection, common sense prevails where the variation in projected income in retirement between products is, say, minimum.
In effect, you will find yourself making a very informed decision.
When Would SuperWiser be Appropriate For Me?
SuperWiser is most certainly worth a look for anyone who has been employed for say around 5 years and the application will guide you around what is in it for you and you are able to easily consider if the value of the advice is far in excess of the cost.
Traditionally, it may have taken some 15 to 20 years for the older generation to accumulate $100,000 in super but nowadays, with the current level of super contribution and increases in wages from the early 1990’s through till now, that period of time should be at most about 10 years. Should you now be in full time employment for 10 years but still well short of $100,000, there may well be a reason. Maybe you participated in withdrawing super during the pandemic?
SuperWiser is positioned to make you think about your super and how important it will be to you. Life passes very quickly as some people already know and it is good advice to plan your super as early as possible as distinct from ignoring super as a serious wealth creation exercise for the first 20 years of your career.
Good Advice
Complete a free Super Review to gain perspective around the possibilities.
Super Is Interesting!
It seems like a laughable statement. Based on the number of individuals who don’t realise how important it is to understand how to manage their super, one would have to conclude super is the most boring topic in the world.
Is anyone really interested in changing their attitude to their own super? What if your lack of interest in your super as a wealth creation strategy could lose you more than 20% of your potential income in retirement in today’s dollars? Would that make you think you need to know more?
While lots of people have negative views about super and what it means to them, when all is said and done, your super will be a larger asset over time, so it’s worth taking an interest in it.
The Typical Scenario
Speaking as an old guy, when I was at least 25 years away from retirement, I really didn’t pay much attention to how quickly I might find myself in my 60’s. Believe me, time travels faster than your view of the horizon. By all means, live for today but wisdom says always have one eye on tomorrow.
In accumulating super, it represents a serious part of your current remuneration, the only problem being you cannot spend it now. That is in fact one of the advantages as everyone will want a certain lifestyle in retirement once they get there.
If you have 15 years or more until retirement, you could at least double your super and if you have more than 25 years, you should be aiming for an even higher multiple in terms of today’s dollars.
Where To From Here?
There are a number of options presented as a valued service from the financial services industry. The preferred service from the financial services industry is referred to as holistic advice. This is an expensive option and is usually accessed by people who might have “more money than sense”?
Then there is another more affordable option that is not favoured by the financial services industry as it involves delivering a quality service to the masses, all of whom see holistic advice as way too expensive and even far too complicated for their needs. As a generalised statement, the financial services industry sees service to a high volume of people as too high an overhead and far too low on margin to make it a profitable exercise from their point of view.
So welcome to SuperWiser!
SuperWiser’s Basic Premise
Financial planners target high balances and high income individuals as this means high fees and also high profit margins. SuperWiser charges low fees and will provide dependable and limited advice to everyone else.
Effectively SuperWiser delivers high client value at a very low cost!
SuperWiser has a database of 40 popular products representing everything from employer super through to retail personal and also industry funds. The back end of SuperWiser has an analysis of each product and its capability as dictated by fee structure, insurance cost, MySuper Default performance and then the capability of portfolio construction based on each product’s investment choice menu.
In general, products deliver a registration system of individual account transactions and balances with most people sitting quietly invested in the MySuper Investment Default option. No wealth creation strategy can be best managed by sitting in the same product with the same vague investment strategy for up to 45 years.
Analysis proves that most individuals are invested in the MySuper Investment Default for the majority of their working life and most individuals don’t know where to access the information required to examine the quality of their super product provider.
It’s Truly Simple!
When originally conceived, there was much debate in naming the application, the debate raging between SuperWiser and Simpler Super. SuperWiser won.
SuperWiser fills a void left by all product providers in terms of an employee’s capability to access personal advice limited to their super account. No one is trying to sell anything more than the one service and at no time will SuperWiser be an expensive service. Indeed SuperWiser’s process is enticing at first before it requires any commitment from you to directly engage with the application.
The overall SuperWiser approach is straightforward:
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The first step in taking responsibility for your super asset is to review your current approach.
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Commence by the process by registering your email to create your secure SuperWiser account and complete a free Super Review.
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You will be asked a few questions about your super before we provide an indicative income in retirement projection based on your current approach against an improved approach.
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Upon your authorisation, we then liaise directly with your super provider to confirm the exact details of your super and its current management before providing you with a more accurate projection and explaining how actively managing super can improve results.
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If you decide to proceed, this is when you will pay a fee to access full details of the strategy being recommended by SuperWiser.
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You will then be provided with three product choices to examine and choose from, including all required documentation for your reference, to help you further understand the advice being given.
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You will also be provided with key performance parameters that enable you to monitor your progress towards the stated goals & objectives as defined with the targeted projected income in retirement.
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SuperWiser then provides you with all the assistance required to implement the advice.
This is a lot of work for a base fee of $220. You are then serviced by SuperWiser on an ongoing basis with updates being provided on a full fee for service basis, such as an update in terms of your investment strategy which is always dependent on a 12 to 24 month view of the market cycle.
In terms of Products
The main service provided by super products is in fact the registration of your account balance and not the personal advice required to optimise your asset. Other than the provision of a product, service activity is limited to answers to general questions and queries and no attempt is made by product to help you manage your super as a wealth creation strategy.
Find Out More
Go to superwiser.com.au and start your free Super Review. FreeCall 1800 467 467 if you have some questions.
Who Will Win?
Superman versus SuperWiser – it’s a contest I’d like to see as I am confident SuperWiser will win.
Tools like SuperWiser are superheroes when it comes to managing your super. Decisions about your super are some of the most significant choices you can make – they impact on your future retirement savings and quality of life and so it helps to have a powerful ally like SuperWiser on your side.
So, why is SuperWiser the solution to your super struggle?
Personal Scaled Advice
Government regulation has focused on product, as well as holistic financial advice which can be costly. Many individuals however don’t have many other assets that need managing, they just want advice on their super. The service required is known as personal scaled advice, or limited advice.
SuperWiser meets all regulatory requirements and focuses on the delivery of high value advice at an affordable cost. The app gathers details of your circumstances and then processes a combination of product comparisons to identify the right product for your contribution strategy and investment strategy, before providing you with a framework to monitor your progress towards your goals and objectives.
With SuperWiser, it’s possible for most individuals to improve the performance of their super asset by over 20% as reflected by their projected income in retirement.
How Does SuperWiser Win?
Credibility is a key consideration when making a decision that might improve your future financial situation.
SuperWiser is owned by Super Simpler Pty Ltd, a company majorly owned by the directors of AXIS Financial Group Pty Ltd. AXIS Financial Group has been a market leader in servicing employer super since the early days of its development and AXIS Financial Group provided market leading service statistics in employer super for many years. No other advisory company penetrated as many workforces in delivering personal scaled advice to as many employees as AXIS did.
SuperWiser has taken the AXIS service model and automated it with the intention of further increasing the levels of market penetration previously provided to employer super. SuperWiser intends to do the servicing that should have been done by the product providers who have dominated the super market for so long.
The delivery of personal scaled advice is a space with few competitors as well organised as SuperWiser. SuperWiser is designed to provide advice to members of any corporate plan, to any individual within a retail personal product, and everyone in an industry fund. SuperWiser’s muscle is based on an algorithm that contains a database of product details which is used to calculate a better option for the individual depending upon personal circumstances.
Free Super Review
Complete a free Super Review to find out whether you can potentially do better. SuperWiser will review your current appraoch and identify how you can improve. You should you chooose to proceed to obtain and implement strategic advice, a very affordable price of $220 (inc GST) is involved.