Verve Super

The rapid and very professional response to request to withdraw from my super account makes me happy to commend Verve to other women keen to invest in such an ethical fund. Thanks to all. Show reply

Totally happy! Would highly recommend for all – I love the Verve updates, they’re not annoying and I find them interesting. The super itself is much the same as any in its returns - which is great because they’re investing ethically. I also appreciate the feminist values that the company exhibit. This isn’t just a women’s only club, it’s for anyone who cares about our world and the people… Read more ·  1

living in it. It’s for people who want to make a difference but maybe don’t have the skills or funds to do so. Big fan.

Ethical & Easy to Use – Appreciated the ethics, free learning on the website, and how easy it was to join & navigate. I have only used the basic superannuation features but I haven't had any issues yet. Show reply

A below average superannuation fund – Fees and long term performance are below average. Can certainly do better elsewhere for both. Some people might be comfortable making that sacrifice based on their ethical investment screening and the educational resources they provide their customers, and that's absolutely understandable, to each their own etc. Their fees have reduced since… Read more

inception which is positive.

The issue is the one-size-fits-all, single investment option they offer. I'm not aware of any other superannuation fund that offers only one investment option, that being their balanced option with a 70/30 split between growth and defensive assets. This is borderline negligence. Effectively assuming that it is suitable for a 20 year old with 40+ years to retirement to have the same asset allocation as a 60 year old with 5 years to retirement.

We can use some popular, basic index funds as an example which is a good way to highlight the long-term difference between growth / defensive investment allocation. The Vanguard Growth Index fund which also has a 70/30 growth/defensive allocation and the Vanguard High Growth Index fund which has a 90/10 split. Over the past 10 years the Growth Index has generated an average annual return of 7.52%, while the High Growth Index has returned 9.26% P/A, a difference of 1.74% per year. If we assume a starting balance of $50,000 across these investment options and ongoing contributions of $766.66 per month (11.5% super contributions on an $80,000 income) over the next 30 years, that 1.74% gap works out to be a difference in final balance of $766,294. For reference, the Vanguard Growth (70/30) option has returned 6.76% P/A over the past 5 years (longest timeframe we can compare the two), compared to Verve's 5.81% P/A. That 0.95% is the sacrifice you might be comfortable making to invest in line with your values. The additional 1.74% mentioned above is due to it being a poor product with a lack of investment options. This gap will ring true if you compare the 'balanced' and 'growth' investment options of any superannuation fund. For example, Australian Ethical, 7.0% P/A over 10 years for 'balanced' and 8.6% P/A over 10 years for 'high growth'. Same ethics applied to both portfolio's, just an increased weighting to the growth assets. A higher allocation to growth assets = higher long term performance. As we get closer to retirement, e.g. 5 years, it can pay to switch to a more conservative option, such as Verve's, to reduce short-term volatility as we know we need to access that money soon.

I know some people are comfortable making sacrifices to invest inline with their values but they need to know the potential, long-term significance of those sacrifices. The above example produces the exact opposite outcome of their 'closing the gender wealth gap' messaging. These aren't just sacrifices you're having to make to invest ethically, these are sacrifices you're having to make because the superannuation fund you're with, either through lack of resources, laziness, incompetence, or a combination of each has decided to lump all of its members, regardless of individual circumstances, into one single asset allocation.

This might change over time. As they take on more members and their revenue grows they might include additional investment options that are more suitable to a wider range of investment timeframes. But if you join now and have 10+ years to retirement you're the one who is going to have to make potentially significant sacrifices to help them get to that point. They don't necessarily shy away from this, they'll tell you to do your own research and refer to their target market determination in order to determine if this product is suitable for your circumstances, and they're exactly right. Their TMD states that their lone investment option is suitable for a minimum investment timeframe of 4-6 years, and I would agree. A 70/30 split could certainly be appropriate for someone within around 5 years to retirement.

This product is currently not suitable for the vast majority of the people they're clearly marketing it to, and they should have diverted some of that marketing budget towards first making a product that is fit for purpose.

If you strip back the marketing what you're left with is a superannuation product with average-ish fees, below average performance and one investment option. They do offer a $60 admin fee rebate if I have a child and take time off work though... but based on my calculations I would need to have about 12-13,000 of them to bridge the performance gap. Better get to it.

They have been very transparent with me about where my money is going and they alert me to any changes being made. I find it can be difficult to find a super fund that invests ethically but still performs well, Verve have pulled that off tremendously well. I also get emails with member perks that they voluntarily tell you about, you don't have to go hunting for it, which also feels rare! Show reply

I was interested in joining Verve, their ethics, and transparency appear much better than other funds, including the one with "ethical" in its name. Unfortunately Verve have recently closed their old investment options, and started new ones, and are unwilling to provide any performance data to new customers. While I understand the reasoning behind… Read more

this, it makes them completely unfeasible now, and for a few years to come. Fees are on the high side too.

https://vervesuper.com.au/faqs/why-can-t-i-see-investment-performance-history

I am looking elsewhere, to see if I can find this historical data, but that is very far from ideal.

I have recommended Verve to all my female colleagues because of the investments in coal etc by other super companies versus the ethical investments in the future by Verve Show reply

You are treated like you matter! – The first thing that drew me to Verve Super is it is a fund that is made for women by women and I would prefer to go with a Superfund that invests funds in a sustainable way and isn't a big competitor meaning you aren't treated like a number, you are treated like you matter and they invest funds into things that matter! Show reply

Fan bloody tastic – Well my wife went to school with Christina Hobbs and told me that she is a genuis and a genuine chick and she's all about women, so I thought why not. And I haven't looked back " Show reply

Humanising Finance – What a refreshing company that humanises the financial services sector with accessible, friendly, informative, empowering support and communication. Show reply

The best superfund for women – Verve is incredible, I’ve been with Verve for over 4 years. They are so much more than a superfund. Everything they do is to promote women and ethical investing. They offer financial literacy and much more in a way that shows that they are invested in their members. Show reply

Great customer service and ethical – Easy to setup, great platform, excellent customer service, easy to contact (no long hold times) but above all ethical. Happy to know my super is not invested in weapons, mining, fossils fuels and gambling Show reply

Great super fund – This is a women run super fund investing in women run ethical businesses. I don’t have a lot to invest but this is one way I can contribute to a better future. Show reply

There are so few women led financial institutions available, I voted with my feet to join as soon as I could – Right from the beginning the process to sign on and transfer my funds was straight forward. I can't believe how difficult some super funds make it for you to transfer your money to a new organisation - what does that gain them honestly? There are so few women led financial institutions available, I voted with my feet to join as soon as I could.… Read more ·  1

The 'traditional' companies run by majority white male stakeholders have proven themselves unreliable and self-centred. This is a fund run by women, to serve their community and to do better by us all.

Great returns on people & planetary beneficial investments – I chose Verve Super because my investment portfolio gives me confidence I'm investing in a better future for people & planet. The returns are great too. 10% last year! Show reply

Finally! An ethical and climate-friendly super fund – I switched to Verve because I wanted to make sure I'm not investing in fossil fuels or anything else that can damage the planet or human rights. So far I've been really happy with their service, plus all the free money-related workshops and resources they offer. Show reply

Great Service – Very helpful when transferring Kiwisaver over from New Zealand and trying to release funds for first home buyer scheme (dealing with ATO issues)

They go extra miles for you – I feel safe with Verve Super. I’ve had troubles with the previous Super (Mercer) just because I’m a woman (and foreigner). Being disrespected, discredited or worse - completely ignored for something so important. I cannot thank especially Sabrina enough for being there for me and went extra miles to achieve my goal. Thank you. Show reply

Perfect superfund for sustainability and ethical investment – I joined Verve earlier this year as I was looking for a superfund which aligned with my ethos about climate and not investing in harmful industries. As a self employed woman who is concerned about climate change and sustainability I found Verve to be a perfect fit for me as it's run by women for women Show reply

Ethical and profitable – I joined this fund because it's ethical ans have been pleasantly surprised by the returns. My balance keeps going up and up, far more than any other fund I've ever had. I wish I'd joined earlier, the best of both worlds. Show reply

A Super Fund I trust – Verve Super has some of what I believe to be the best environmental and socially aware values I’ve seen supported and followed by a fund. I know that Verve’s investments align with my values, being run for and by women, and as a community built business, their focuses go towards things that closer support people rather than massive corporations. I… Read more ·  1

know that Verve’s environmental policies and investments also mean that my money isn’t going towards mass fossil fuels and other un-sustainable resources. Being with Verve means I know what my money is going towards, it’s a company I trust.

Essential for modern women! – Women in the financial sector a heavily under represented and we are still bearing the cost of time of work for having children which effects superannuation. I think super inequality is a huge issue that is only getting worse. This fund ensures we continue to close the gap. Show reply

Ethical investing plus gender equality is an unbeatable combo for me – While the 'by women, for women' tag of Verve is important to me, if I was not able to choose to invest ethically then I still wouldn't be able to choose Verve. The fact that it has both means I can happily recommend it to anyone. Show reply

Definitely recommend! – I like the businesses that Verve Super invests in. They are transparent. They also provide helpful information and resources. The For women, By women concept is awesome. Show reply

Verve Super is a Feel Good super fund! – I love verve super! I love what the company stands for and how’s it invests in ethical investments and is all woman supporting and helping other woman with their super. I’ve also found it helpful for money saving tips and money management. I tell all my friends that I’m with verve super proudly and recommend it highly to everyone looking for a better super fund" Show reply