Industry super funds are funds run by industry groups and unions. In general terms, this means that the fund is run purely for the benefit of members, as there are no share holders requiring a dividend payment. Notwithstanding this benefit, a Financial Planner or Financial Adviser may sometimes tell you that an industry super fund may not be the best way of investing your superannuation.
Industry super funds are available to the public; although initially, some of these funds were available only to those employed in the specific industry. In recent years Industry Super funds have conducted a substantial advertising campaign to boost awareness and public acceptance on industry super funds, focusing substantially on no fees being charged by financial planners when recommending these products.
Depending on where you sit in the investment cycle and your personal preferences, this form of superannuation fund may be beneficial to you. There are generally lower account keeping fees and no commissions paid to financial advisers. However, there are downsides to industry superannuation funds, very often the main disadvantage being that the forms and options of investment are generally more limited.
A Sydney Financial Advisor can help you determine what type of super fund is appropriate to meet your financial objectives and risk profile. With a wealth of experience and an acute awareness of a diverse range of investment products available on the market, our Financial Advisers can help you source and implement a superannuation fund suitable for your goals.
Contact our office on (02) 9233 4048 to arrange a free home consultation with an experienced Financial Planner.
Navado Financial Advisors Pty Ltd is a Corporate Authorised Representative of Lifespan Financial Planning. A.B.N. 23 065 921 735. AFSL 229892. This webpage (and any material or wording appearing on this webpage) is provided for information only and constitutes general financial product advice. It does not take into account your objectives, financial situation or needs and you should therefore consider the appropriateness of the advice, in light of your own objectives, financial situation or needs before acting on this webpage. When making decisions about any financial products you should obtain a copy of and consider the Product Disclosure Statement for that product before making any decision. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
If you require financial advice or the assistance of a Financial Planner, you should make an appointment with one of our Financial Planners, who can see you in our Head Office in Sydney CBD or in the comfort of your own home. Our Financial Planners service the following areas:
- Sydney
- Parramatta
- Chatswood
- Hurstville
