Financial services groups need to be paying just as much attention to the non-superannuation investment market as they have been paying to superannuation, according to actuarial consultancy, Rice Warner.
Promoting the release of its Personal Investments Market Projections 2015 report, Rice Warner noted Australia's dual investment and savings systems, inside and outside superannuation.
It said both systems were of almost equal size and that both promised to provide excellent and evolving opportunities for the financial services industry.
"Given the widespread attention given to superannuation by Government, interest groups and the media, the size and significance of the non-superannuation personal investments market is not always readily recognised," the Rice Warner analysis said.
Among the array of findings from its report, Rice Warner pointed to the importance of demographic changes and the manner in which they would impact investor sentiment.
"The retirement of ageing baby boomers will lead to greater drawdowns of non-superannuation and superannuation assets first to provide retirement income and later for the generational transfers of wealth upon death," it said.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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