SimpleWRAP has launched a full service administration wrap with a flat fee pricing model, which the company claims is a first in Australia for both superannuation funds and retail investors.
The new service charges a flat fee, irrespective of account balances, which would mostly benefit investors with larger investments, according to simpleWRAP director, Krystina Weston.
Weston added that the current model of charging clients for administration based on a funds-under-advice model is outdated, and the flat fee approach is necessary in the current investment and regulatory environment.
"Given the direction of government reforms and the recent announcements from various industry bodies, we believe it's timely for the industry to rethink fees at every level, including wraps," Weston said.
This service was launched in conjunction with Equity Trustees Superannuation, which would provide superannuation support.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
Add new comment