#21. Co-hosts Sarah Penn and Neil Benson host David Bell, Executive Director at Conexus Institute.

Highlights

• Industry growth: Superannuation assets grew by 12% last year, mostly from strong investment returns. Four funds are now “mega funds” with over $200 billion AUM.
• Mergers and consolidation: Fund mergers continue to shape the sector. Aware’s merger with TelstraSuper tipped it into mega fund status.
• Flow dynamics: Natural flows (member contributions) are steady, but competitive flows are increasingly advisor-led with platforms gaining pace.
• Advisor-driven switching: More than half of asset switches are now influenced by advisers, with platforms offering efficiency and adviser-friendly features.
• Marketing spend: Funds increased marketing by 10%, but there's little evidence it’s driving competitive inflows. Most spend is defensive—trying to stem outflows.
• Retirement focus: Demographics highlight 40% of assets held by members 55+. Funds are investing in retirement products and guidance, but competitive barriers remain for retaining members approaching retirement.
• SMSF trends: SMSFs are seeing net growth and most are established without a formal adviser. But there’s also a flow back as members tire of administration.
• Future landscape: The sector is heading for more mega funds and continued consolidation. Launching new funds is possible, but achieving scale remains a decades-long effort.
• Key takeaway: Sector priorities are shifting towards retirement, adviser functionality, and efficiency—but core flows, consolidation, and operational differentiation remain fundamental for fund leaders.

Bonus: Blame marketing? Absolutely!

Chapters

00:41 - Introduction to Dr. David Bell and the Connexus Institute

07:32 - Exploring Competitive Flows in the Superannuation Industry

11:41 - The Dynamics of Advisor Portals and Fund Competition

20:16 - The Impact of Marketing on Member Retention

28:50 - Shifting Focus: From Marketing to Retirement Strategies

37:21 - The Changing Landscape of Superannuation

42:52 - Reflections on Future Trends in Superannuation

Guest: David Bell

• Connect with David Bell on LinkedIn
• Follow The Conexus Institute on LinkedIn
• Visit The Conexus Institute website

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