Life In Regret?
Many of us will collect at least a few regrets over the course of our lives. When it comes to superannuation, a common misstep is failing to develop good habits early and not taking the time to figure out what outcomes represent success.
The majority of people under the age of fifty are either misinformed or misled by published opinion about what is good and what is bad in super. Super is at the centre of a lot of activity and opinion, making it confusing to try to navigate. Most people simply switch off and miss out on the benefit of becoming informed about super.
The Professional Opinion
The financial services industry has established itself to “service” what was always going to be an enormous asset almost thirty years after compulsory super was introduced. The annual cost of such services has been widely publicised from time to time, always within a negative context. At no time has anyone tried to explain the relative value of the services delivered against the costs as charged.
For the first thirty years, the main services delivered to the general public have been product based, and then individual services have been developed to target the top end of the market where holistic financial planning can be delivered. It’s easy then to conclude that the most significant achievement by the financial services market is the creation of a product that records all the transactions required to calculate your balance, whilst the financial services industry largely concentrated on delivering highly priced services to financial planning clients.
The New World
In the midst of all the controversy around super, the governing forces, as well as the public, tend to miss what might be the obvious.
Where do those who do not want and cannot afford highly priced financial planning services go to find out how best to manage their super? Most importantly, how can they be assured the source is credible and provides value?
It seems I have just defined the basis of what is the new world for super: the delivery of personal scaled advice at a very affordable price!
The Development Of SuperWiser
As an application, SuperWiser has been in development for over 5 years and at times, progress was slow, partly because of the complication of super regulation. Services of an advisory nature have focused on financial planning and therefore so has regulation. Years of re-regulation of super have only further complicated the basis of advice.
While SuperWiser has not been approved by ASIC, the application has been demonstrated to ASIC in 2020 and all questions responded to fully.
SuperWiser has been examined and re-examined from many perspectives, be it from an actuarial perspective or by advisers or by compliance. It has also been demonstrated on many occasions and positive feedback received.
All of the above is before being further presented to market in delivering what is regarded as an ambitious but essential service.
The Functionality Of SuperWiser
Within the underlying database supporting client outcomes, there is a significant analysis of some forty major products across three service models with all subsequent comparisons based upon a standard algorithm as developed by Actuaries in Super (AIS). So SuperWiser does two very complicated procedures extremely well:
- As a product comparator.
- How to best use the recommended product.
The majority of people do need technical assistance in managing their super as it is a very changeable industry with many available products, all of whom market themselves very well but not in a way that helps the general public make a decision.
Once you have chosen your product, there are a number of additional decisions to be made around goals and objectives, your level of contribution and then how you might invest your asset dependent upon your personal circumstances.
SuperWiser makes all of the above as simple as can be.
The Value Of SuperWiser Service
From a client’s point of view, examination of the service as delivered is rather straightforward as you want a high financial benefit against what you consider to be a low cost.
The fact is that SuperWiser delivers to client expectations between what would be regarded as high value against a low cost. It is expected that news will travel fast as people become more and more aware of this accessible online service. The application does all of the work but there is an internal support staff here and ready to assist you wherever necessary.
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If you have any queries in reading this article or in examining the SuperWiser website, feel free to email me at email@example.com.