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Survival the key for funds
survival and growth are the key areas of focus for most superannuation funds, according to a survey conducted by subsidiary (AAS).
The survey, conducted during the Conference of Major Superannuation Funds on the Gold Coast earlier this year, has zeroed in on the attitudes of the executives actually running superannuation funds, and has revealed that their primary focus is the retention of members and employers.
The survey revealed that 44 per cent of respondents regarded retention of members and employers as the single most important issue, while 34 per cent were concerned about regulatory compliance, making it the second most important issue.
Rating a distant third was the provision of financial education and advice, followed by the provision of specialised marketing and communications services.
Spokesman for AAS said that while he had not been surprised by the underlying tenor of the survey, he had been surprised by the sharp focus of superannuation fund executives on retaining and growing their memberships.
“While a lot of discussion and debate in the superannuation industry has been around the question of regulatory compliance, it is clear that membership is the core issue,” he said.
The outcome was reassuring for the company because it validated its underlying strategy.
AUTHOR
Mike Taylor
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