The Difference The Right Super Fund Makes

SuperWiser
October 5, 2020
8:06 am

Nothing As Complicated As Super?

Good things are rarely said about super, and that often discourages people from making informed decisions. But consider the following:

Super is your wealth creation program for life after work.
Remaining inactive around your super could cost you close to $100,000 down the track.
There are affordable options available to make sure you don’t miss out and regret being inactive around your super.

For some, sorting out your super can be awkward. Others may base their choices on the annually reported investment returns from the products in the market – unfortunately these don’t tell the full story and aren’t always the ideal way to choose a fund.

Seeing The Difference In Super

As a straightforward statement of fact, there are as many fraudsters in this world as there are honest people selling a service. It is often hard to see the difference.

That’s why we’ve developed SuperWiser.

Super is one of the most regulated industries in Australia and the bar is set high. SuperWiser was developed by Super Simpler Pty Ltd which operates under an Australian Financial Services License (AFSL), No. 233680, held by AXIS Financial Group Pty Ltd. As an obligation under said license, AXIS Financial Group Pty Ltd must have what is called an Approved Product List (APL), detailing what financial products their authorised representatives are allowed to provide to market.

SuperWiser’s Approved Product List

SuperWiser has as its core an actuarial algorithm which examines which product will deliver better value for each and every individual. The actuarial algorithm uses the underlying analysis of approved product as the basis of this calculation.

Broadly speaking, SuperWiser’s approved product list examines the available product from a number of perspectives:

Is the product actually approved for recommendation?
If approved for recommendation, what are the comparable qualities between simply remaining in the product default against better advice in considering an individual’s circumstances and the quality of the investment choice menu?
Based upon the analysis of the product default versus a personalised investment strategy, each option is awarded a points score which determines an outperformance target of between 0% and up to 0.6%.

SuperWiser’s approved product list is scrutinised every 6 months from the point of view of the appropriateness of the advice. Changes are exacted as appropriate to the data.

Information Available

SuperWiser website will give you a summary analysis of the super product you are currently using. This will advise you if your product is approved and some information to tell you whether or not you can do better.

You can complete a free Super Review and this will inform you if SuperWiser believes it can help you make a lot more of your super from a financial value point of view. In doing the calculation, SuperWiser is examining costs, contributions and also what investment strategy you might be in.

If you are interested in finding out more and under the obligations as defined in the above Australian Financial Services License, the first step has to be to confirm the original calculation so SuperWiser knows a significant improvement in super outcomes can be delivered.

So you do have to register and provide the correct details for your super and allow SuperWiser to contact your product provider to confirm the accurate information involved. This process involves what is known as an Authority to Access Information. Certified proof of identity is also required to complete this step.

SuperWiser then updates the calculation and either says proceed as the benefit is confirmed or SuperWiser advises you not to proceed as the original value as estimated cannot be delivered.

The Decision To Buy

There is some final information required just to ensure SuperWiser has all the accurate facts to help you achieve your stated goals and objectives, defined as age of retirement and also your desired projected income in retirement. Still at this point everything is done for free.

SuperWiser will now state why a higher projected income in retirement can be delivered compared to your current super, based upon an analysis of cost, investment returns and also contributions. It is at this point you decide whether or not you believe the promised result. So far there is no cost. Implementing the advice you receive can be done by us for a very affordable $220 (inc GST).

A New & Affordable Service

SuperWiser offers personal scaled advice just about your super. It is not about selling products but about explaining to you how to optimise your super.

If you pay sensible attention to your key assets, it is amazing how they may exceed your expectations. SuperWiser can help you to assess your super and monitor it going forward.

Start your free Super Review now. It always pays to keep an eye on your super.

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.