Superannuation Returns Less Important Than Guidance And Communication

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Superannuation Returns Less Important than Guidance and Communication

'Ride the Wave' or 'Jump Ship'? Comms is a Key Factor

Research undertaken by newly launched, on-line superannuation monitoring service monitormysuper (http://www.monitormysuper.com.au/) reveals that Australian members of super funds were more inclined to change funds because of a perceived lack of guidance and communication from their financial advisor than because of poor performance of their super fund.

CEO and founder of monitormysuper.com.au, Mr Peter Morrison-Dowd, noted: "Less than 1% of members interviewed moved funds for poor performance. Most did so because of a lack of guidance and communication. In other words: they moved in search of that support."

Mr Morrison-Dowd said that his Company's research findings were reinforced by industry experience in the UK and USA.

"Planners in those markets who were pro-active in the heat of the GFC, who actively strengthened client relationships, were shown to have actually increased asset flows into their businesses.

"Trust is a much undervalued factor in investment decisions: the real 'unsung hero'," he added.

"Trust hinges on open and transparent communication. It's strongest where the financial advisor or planner provides ongoing, frequent, regular communication and guidance to the client.

"In these circumstances it's clear that clients were more prepared to ride the wave rather than jump ship."

ends

More information:
Monitormysuper.com.au (http://www.monitormysuper.com.au/) is a new, independent online service that can keep investors and their planners informed in a time frame of their choice as to how their superannuation is performing. The service was developed over three years in close consultation with the financial planning industry.

Monitormysuper is a joint venture with Vestdata which is an Australian share market and managed funds performance reporter. Vestdata has successfully operated from its Victoria office for 15 years.

Media contact:
parkyoung
[email protected] or

David Park
m 0418 159 231
[email protected] or

Trevor Young
m 0412 368 683
[email protected]

SOURCE: monitormysuper