With declinging adviser numbers licensees are running out of ways to leverage scale and grow their business to a sustianable level. It's a tricky juxtaposition, says CoreData's Simon Hoyle, and one that will lead to the closure of more than a few dealer groups over the next two years.
Industry figures say the super industry is grappling with conflicting expectations on its role in core issues like financial literacy, infrastructure development and helping young people buy housing.
The merger of Sunsuper and QSuper created a behemoth organisation with $230 billion of assets under management and over two million members, giving the fund significant financial firepower to plan for members’ retirement.
As the world emerges from a pandemic, policymakers and organisations are working to stave off the public health threat of loneliness and social isolation and insurers and super funds have a key role to play.