The industry’s drive for scale: Who benefits?
A wall of money is coming toward the Australian super industry and expected mergers are right behind. Like it or not, we are headed for massive scale. But where does this road take us? Should we expect better returns and/or lower fees for super fund members? Is this going to transform this industry into something akin to a ‘big 4’ super funds, with a different (and more corporate) culture, mass marketing and distribution, and big executive pay-packets? Can we manage this change somewhat, or should we ‘strap in’?