Mon, 7th Apr 2025

In this April 7, 2025 episode of the Weekly Superannuation News Wrap with Paige Estritori, listeners learn about significant changes in the superannuation sector. Fortitude Investment Partners acquires a majority stake in ASF Audits, bolstering their position in the tech-enabled financial services sector. The Self Managed Super Funds (SMSF) sector stands to cross the $1 trillion mark in assets. Australian Securities and Investments Commission's (ASIC) report, REP 806, unveils dubious practices by some superannuation trustees to deduct insurance premiums and advice fees from deceased members' accounts, prompting policy enhancements. ASIC also files a legal action against AustralianSuper due to extended payment delays affecting nearly 7,000 families. Despite AustralianSuper's attempts to improve claim processing, ASIC's actions highlight the importance of compliance and customer service in the sector.