Has the Royal Commission pulled back the curtain on super?

Vanessa Stoykov,  creator,  No More Practice

When I was a kid, I loved the original movie The Wizard of Oz. To learn that the wizard was actually a middle aged man behind the curtain - I remember finding that fascinating. No, it was not as cool as having an actual wizard there, but revealing the truth behind the illusion was deeply satisfying never the less.

I have to say, the same can not be about the Royal Commission into superannuation. Yes, once again, we have seen scandalous activity by banks , and apologies on twitter from CEOs. Yet, we have not really seen the inner workings of our biggest super funds - those massive funds that we all see advertised with the cupped hands, saying they are here for members.

As someone who started their career almost 25 years ago reporting on institutional funds management and super, I have seen the growth of superannuation first hand. I know

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Lloyd Thomas

28/08/18

Hi Vanessa, after nearly two decades as an adviser I was finally intrigued by the super system so much that 2 years ago I began researching it a lot deeper than the regular PD Day or client discussion level and what I found was staggering. If you intend going down a similar path then for your own interest perhaps start with the company reports and historical P&L's that are available on the web and follow your nose from there. Many are glossy industry marketing docs but some are real and quite detailed. It's these that led me to the greatest revelations but given the inherent complexities, trying to explain some of the findings to clients just left them yawning. Good luck Lloyd

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