Australia ID#: 03-01-07-001
Roy Morgan Research’s Superannuation Choice Reports have monitored the superannuation market since the introduction of Super Choice in July 2005. The current Superannuation and Wealth Management in Australia Report is the twelfth in a series but expands on the original theme by putting superannuation in a more holistic context. While it continues the coverage of the superannuation market into the period ended December 2009, superannuation is understood and analysed in the context of all the other financial products, assets and debt that make up the true financial position of Australian households. Furthermore, the issue of financial advice is examined. Roy Morgan Research has a uniquely large and detailed source of consumer wealth management data (including superannuation), compiled from more than 50,000 face to face interviews annually. The report explores the issues relating to the overall performance of nine major retail fund manager brands (i.e. AMP, AXA, Commonwealth/Colonial, ING (including its ANZ joint venture), NAB/MLC, St. George, Suncorp and Westpac/BT) as well as industry funds, public sector funds and self managed super funds. In addition to the regular features such as the analysis of the superannuation and managed funds switching behaviour, this report includes a system for ranking superannuation fund managers in Australia. Critical issues such as potential financial planner bias, perception of independence and advice have also been dealt with in considerable detail. An important new feature of this report is to look at segmentation for the wealth management industry based on customer value. The use of value based quintiles highlights the fact that this market cannot be treated as a simple overall aggregate because the top 20% account for around 70% of the market value and that the bottom 60% of the market account for less than 12% of the value.
- Time Period: Release 20 May 2010