In a 3 trillion dollars mature superannuation and retirement income industry there is really no place for retail investment management fees.

The kick back between the wholesale and retail investment management fee to the fund (consildator) is not at all warranted.

The consolidator could in instances pass some of this rebate to a member or combined family member s based on the overall total value of the members holding.

If wholesale investment management fees were applied to member accounts then “only” will the overall fee charged to the member be reduced.