qmv superbrief 20141107

While all care has been taken to ensure the

accuracy of the information presented, QMV Super

Solutions is not responsible for any loss or damage

suffered in relying on the information presented.

QMV Super Solutions specialise in the delivery of world-class

technology and business solutions for the superannuation and

wealth management industries. With a fresh approach to solving

complex process issues, our tailored solutions are delivered by a

bright young team who are experts in their fields, and passionate

about results.

qmvsupersolutions.com

STATISTICS

Super funds have publicly

disclosed executive level

remuneration, revealing a wide

range of pay packages across

the industry. Under changes to

the SIS act, funds are now

required by law to disclose the

remuneration of their executive

teams. Of the not-for-profit

funds, QSuper’s Rosemary

Vilgan was the only CEO to top

the million dollar mark ($1.05

million).

Source: Financial Standard

BT Financial Group has posted

a net profit of $895 million for

the year ending 30 September

2014, up from $773 million the

previous year. The results were

based on a 26% increase in

FUM and growth across both

the general and life insurance

businesses.

Source: Investor Daily

The SelectingSuper MySuper

rolling 12 month performance

index fell sharply during

September to return 9.0%,

compared to 11.1% at the end

of July.

Source: Financial Standard

APPOINTMENTS

ClearView Wealth has

announced Todd Kardash as

their new CEO to head the

combined dealer group

business, following the

announcement of a merger

with Matrix Planning Solutions.

Source: Investor Daily

NEW PRODUCTS

Wealth management platform

XPLAN and cloud SMSF

software Class Super have

been integrated into one

program in an attempt to

bridge the gap between

planners and accountants.

Software provider IRESS said

the pairing aimed to help

accountants and planners to

share information and meet

their reporting requirements.

Source: Money Management

Industry fund VicSuper has

partnered with annuities

provider Challenger to offer its

members guaranteed pension

products. The two new

products will be introduced in

early 2015, and aim to address

longevity risk and provide a

“reliable income stream in

retirement”.

Source: Investor Daily

ROYAL COMMISSION

Two Cbus employees have

been accused of perjury and

the fund’s culture heavily

criticised in a submission by

Jeremy Stoljar, council assisting

the Royal Commission into

Trade Union Governance and

Corruption. Stoljar said Cbus

and affiliated union the CFMEU

have a ‘symbiotic relationship’

that creates a “significant risk

of conflict of interest”.

Source: Financial Standard

OPINION

The ACCC is unlikely to

intervene in the acquisition of

major administrator

Superpartners by Link Group,

according to QMV Super

Solution’s Jonathan Steffanoni.

While the acquisition will see

Link controlling over 60% of the

super admin market, Steffanoni

noted that “it is contestable

whether Superpartners would

be a vigorous and effective

competitor if the acquisition

didn’t take place”.

Source: Super Review

Software provider Bravura

Solutions has released a white

paper titled Top 10 trends in the

Australian superannuation

industry: Why funds must bite

the system modernisation

bullet. The paper contends that

savvy funds will employ

modern flexible technology

solutions that support

simplification and

rationalisation and drive

operational efficiencies.

Source: Bravura Solutions

RESEARCH

Members are demanding

advice and communication

from their super funds, but few

are willing to pay for the

service, according to

CoreData’s 2014 Member

Retention Report.

Source: Money Management

QMV SuperBrief Quick Superannuation Industry News

Issue #45 of 2014: Friday, 7th November 2014