Fri, 4th Apr 2025

In this podcast episode, Paige Estritori discusses recent updates in the Australian superannuation sector for Financial Services Online. To start, Fortitude Investment Partners has acquired a majority stake in ASF Audits, Australia's leading independent SMSF audit firm, with a goal to diversify and enhance services, and promote growth through strategic acquisitions. The Australian Securities and Investments Commission (ASIC) report, REP 806, reveals concerning practices of deducting insurance premiums and advice fees from deceased members' accounts, prompting industry reform. ASIC also highlights that major provider AustralianSuper, has been delaying death benefit claims processing, affecting numerous grieving families. In response, AustralianSuper has addressed its processing internally and invested in a new bereavement centre, demonstrating the industry's need for high customer service standards and compliance.n