POWERED BY MOMENTUM MEDIA
(December-2002) A voice of reason for the masses
Paul Clitheroe receives upwards of 10,000 letters a year from the public, so when he is asked about super it’s probably worthwhile stopping and listening to what he says.
“I think the issue for me continues to be the fact that despite [Treasurer Paul] Costello making some very positive noises 18 months ago about simplifying super, once again we see nothing that makes superannuation easier for the average Australian,” he says.
“There really needs to be continued pressure in ensuring that superannuation is something the average Australian can understand. It’s painfully obvious at the moment, as I literally get tens of thousands of letters each year about superannuation, that the two biggest beefs out there in the community are simplification and freedom of choice.”
However, Clitheroe adds that complexity and lack of choice actually suit some service providers in the industry, in particular financial advisors — and he doesn’t shy away from the fact that he, as a founding director of ipac, also benefits.
“But I think if we’re going to take a broader Australian approach, no one in the industry would say that they [complexity and lack of choice] are good for the average working Australian, as complexity drives people to seek advice,” he says.
“While I think there are some excellent financial planners out there, millions of Australians can’t afford to see a financial planner and I think that’s where my Money medium comes into play.”
In his spare time Clitheroe can be found at home in Sydney with his wife and three children, or on his boat or at the golf course.
“I’m a keen sailor and am looking for my own superannuation fund to keep me sailing in retirement as boats are expensive. Also, I’m a very keen golfer and in retirement my superannuation will need to keep me in golf balls,” he says.
Recommended for you
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
