Get out of a Fat Cat Super Fund and stop being taken for a very expensive ride!

Stockspot has released its annual Fat Cat Funds Report analysing the best and worst Australian super funds. The 2018 Report compared 500 superannuation multi-asset fund options from Australia’s largest 100 super funds to assess how they performed after fees since 2013.

The winners of the worst funds were:

Gold: ANZ

Silver: Perpetual

Equal Bronze: StatePlus and AMP

These funds had the highest number of investment options which consistently underperformed and overcharged their members over the last five years.

I want to focus on the worst performers, because having worked for two of them, I know there are literally thousands and thousands of people who have their retirement savings stuck in these high-cost, poor-performing super funds and it may well be costing them hundreds of thousands of dollars.

When I bandy around figures like that, I feel sometimes people think I’m exaggerating. However, this is what happens when high fees and time are combined. It gradually adds up to costing a fortune… a ticking time bomb!

Incredibly, ANZ has won gold for six years in a row and yet the money going into their products still grows. This shows how misled many Australians are when it comes to not only being able to recognise a good super fund, but also in understanding how to seek out quality financial advice.

The conflicts of interest that exist when advisers recommend the products of the company they work for were a huge part of why I started my own business and why I am so passionate about why financial advice needs to be INDEPENDENT. I can assure you that great people work at these companies. Some of the nicest people you will ever meet. Sadly, their hands are tied behind their backs as they are forced to sell products to their clients despite knowing that there are better options out there.

Put it this way… you’ll rarely find a financial adviser working for a Fat Cat Fund who has their own money invested in the products they get paid to recommend to their clients. They’re smart enough to know there are much better products to use for their own money!

Shockingly, the #1 fund can return more than twice as much to its members as the worst performing funds. This is your money we’re talking about, but I can only lead a horse to water.

So, if you want to give yourself the best chance of having the most money possible when it comes time to retire, then it’s time to review your super and make sure your money is working for you, rather than making huge profits for big business.

In the interests of transparency, it’s important to point out who the best funds were: UniSuper, the Rio Tinto Staff Super Fund and EquipSuper.

But I’ll let you in on a little secret… The report very clearly demonstrates how almost all super funds are not utilising the scientifically-proven, lowest-cost and best-performing method of investing that would beat 96% of balanced super funds.

If having more money than less, for no extra effort, is something you’d be keen to learn more about, then get in touch so I can help you get your super into a fund making use of investment super powers. These powers are available to everybody!

Give yourself an early Christmas present… book an appointment to get an INDEPENDENT super review and find out just how many thousands of dollars better off you could be. Or at the very least, add it to your list of New Year’s resolutions. The clock is ticking…

Cheers,

Daniel