Long way to go
- clear mission to boost financial literacy (delivering that content)
- tailoring insurance
- projections and helpful explanations
- perceived value vs actual value (when the marketing doesn't translate to the product)
- fees (for the 'luxury' of purchasing ETFs, no investment team or management?)
- lack of comms during launch (setting expectations etc.)...
- Verified customer
The best and most progressive superannuation of our time!
Zuper caused me to actually take an interest in my superannuation and take action about my financial future. I had no idea where my money was going and with Zuper there is full transparency and I choose to invest my money in what I believe can have an impact on the world and allow me to build the world I want to live in. It's not just a super 'set and forget' product, Zuper continuously help you to build wealth in an easily digestible, fun and engaging way. Plus, the switch to Zuper is super easy!
The BEST superannuation!
I have been with Zuper since they first started and from everything I know and have experienced, Zuper is doing more to connect people with their money, and the impact it can have on the world NOW, let alone, in the future, than any other super fund out there.
Full transparency of your funds
I moved my funds to Zuper from ING Living Super. I really loved the experience. It was really easy to do it. They even found some money in lost super, as a cherry on top. Unlike ING and Australian super, they are absolutely transparent about the fee, no hidden charges every. I love the investment view, it's really amazing to see where your money goes and have some control over it.
First time my super got exciting and useful!
I joined Zuper a few months back and chose to put my money in the Health option. Being able to back companies working on cures to diseases and improving health is a great cause and a booming area. When I joined, they also made a donation to Cantoo, which is a charity supporting cancer research that I am very passionate about and has been the catalyst for my improving my fitness regime. I have become a better runner and swimmer due to their efforts. Its impressive that Zuper supports Cantoo and also a smart move because all of the money raised goes direct to research for the cure for Cancer.
Questions & Answers
This product claims to be value for money but from what I can tell it isn't. The example they give is if you have $50000 with them they will charge you $495 for the right to invest in ETFs and Indexed Funds. Compare this to an industry fund like AustralianSuper that charges ~$172 for the same features, and also allows direct purchasing of shares, cheaper life insurance than other funds, and managed funds (additional fees).
Is there something I am missing?
Thanks for your interest in Zuper and asking the question, we love curious people!
Fees are absolutely important and as a new fund to market, we are very proud of what we have achieved, to be able to offer a full choice based super fund for under 1% as an all up fee is quite special. Having just checked the AustralianSuper PDS (17/06/19), we can see that a similar option would cost $477 with them. For a fund with $140bn in assets, I would be taking a stern look at their fees, rather than ours.
We get asked a lot about passive v active investing, as you have pointed out, we have combined ETFs and Index funds to build our portfolios (which are performing rather well). We have used some unique products (from Blackrock) that only we use in the market to build out some options that align with the values of our members. Many people don't understand super, and don't want to the risk of choosing their own investments, but want to align their super with their values, so we built it for them and over 75% of our customers choose a values alignment.
Life insurance, another great talking point, unlike many super companies we offer choice. People can opt out as they sign up, no defaulting here for people who don't want cover or who already have cover elsewhere. We also offer different levels of cover that are easy to change up and down to suit the needs of our members. That for us is how insurance should be done, cheapest is not always best, but we are rigorous with our insurance pricing to make sure we are competitive.
Any more questions, just ask.
Jon, Team Zuper
PS. As your question does read like an AustralianSuper advert, let me finish on a Zuper style ad as well.
Zuper lets you easily align your super investments with your values, to build a world you want to live in. Low fees, simple insurance options and you get to vote on how we choose our investments and run the fund. Not to mention Zuper Boosts that help you boost your earning potential and your super balance.
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