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:
- All Australians can retire on an income
- 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.
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!
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?
You do not have to pay to have an initial look. There is a play tool available at www.superwiser.com.au should you just want to examine the concept. You can use the play tool time and time again and you do not have to provide any personal details.
What every individual really needs is a source of information around super which is service as opposed to product based. SuperWiser is that service.
To progress your thoughts around what you are currently doing for yourself, the application will tailor the next calculation based upon some personal details. Everyone should have a management plan for their super as otherwise it will underperform. The quicker you start to manage your super, the more choices you will have at retirement.
If the projected benefit is confirmed by this tailored calculation, you will be asked for more information with your product details being confirmed by your primary super provider. Should you want to proceed further, SuperWiser will explain why any proposed strategy is better than what you are currently doing for yourself.
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.
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”.
This document was prepared and issued by Super Simpler Pty Ltd (ABN 74 150 240 421) a privately-owned company operating as a Corporate Authorised Representative (CAR No. 468 201) of AXIS Financial Group Pty Ltd (ABN 21 092 889 579, AFSL 233 680). The information contained within it is not advice. It provides general information only and does not take into account your individual objectives, financial situation or needs. You should assess whether the information is appropriate for you and consider talking with your financial adviser before making an investment decision. Information in this publication, which is taken from sources other than Super Simpler, is believed to be accurate. However, subject to any contrary provision in any applicable law, neither Super Simpler, nor its employees and directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.