Hi Lindso47, while these industries funds are extremely strong I believe they have had to band together to reduce the bleeding to the advice sector, particularly SMSF. A number of industry funds have extremely strong investment offerings from both investment flexibility/costs which can make the cheapest SMSF option look expensive, not to mention some good insurance options particularly when considering their automatic acceptance limits. Perhaps the industry funds may be better served working with the advice industry (providing payment methods) to provide quality advice and outcomes to its members instead of wasting these tens of millions of dollars on advertising when the large percentage of their members are not interested in their super. I recently heard from a financial adviser auditor, that an industry fund financial adviser presented a member with a 90 page statement of advice recommending that he stays within his current fund. Must have been a great read. LOL I almost forgot to answer your question, as always it is the members that pay.
