Sun, 6th Apr 2025

This week on Paige Estritori's Weekly Superannuation News Wrap, major developments include Fortitude Investment Partners acquiring a majority stake in ASF Audits, propelling themselves into the tech-enabled financial services sector and promising growth for the SMSF sector. In another news, the Australian Securities and Investments Commission (ASIC) has identified unethical practices by superannuation funds, with some charging insurance premiums and advice fees to deceased members' accounts, leading to potential reforms in these fee-handling processes across the sector. ASIC has also initiated legal action against AustralianSuper over substantial delays in processing death benefit claims, reminding superannuation companies to maintain strong compliance and customer service standards. AustralianSuper has since responded by investing in a new bereavement centre and bringing claims processing in-house.n