A difficulty I face when I am trying to sort out fact from fiction is that there often exists a 'vested interest' - information is skewed toward the outcome the organisation prefers to occur. At the end of the day, what works better for me as a person, is perhaps a key I might prefer to focus on? Personal service tends to win.
"The eight most powerful industry superannuation funds paid about $6 million in sponsorships, promotions and directors’ fees to labour unions last financial year as part of a mammoth $197.1 million marketing spend.
They also funnelled millions of dollars into sponsorship deals for the AFL and a slew of sport teams, as well as fees to union-connected organisations such as the Australian Council for Trade Unions and trades halls."
Retail superannuation funds - certainly not a Personal Adviser - have nowhere near as much money to spend.
"AustralianSuper, the country’s largest superannuation fund, has been forced to write off more than $1.1 billion in equity and loans tied to an American online education start-up, marking it as its single worst investment in venture capital.
The fund, which manages $341 billion in retirement savings for more than 3 million people, has aggressively expanded its investments in private credit and private equity, including in the United States. But it has worn a loss of $US757 million on Pluralsight, a Utah-based video training firm once valued at more than $US5 billion."
Unfortunately this is a common story where money has few places to be invested and the seeking of return seems to overtake adequate prudence.
As a client you will tend to have a question - I have an answer to a commonly asked question. You might like to benefit from a personally tailored response.
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