There are two different routes you can take to invest your super responsibly:
- Direct Investment
- Using a Financial Adviser
These methods will be discussed in more detail below:
There are three main steps to investing direct:
- Choose a potential fund from our comparative table;
- Visit the profile page of the fund that you’re interested in. This page will also provide you with links to the socially responsible website of that fund and will give you background to its investment approach and performance.
- Contact the fund direct to request what’s called a PDS of the fund which contains everything you need to know about it, plus an application form.
Most Super Funds will accept investments direct from the public. The DIY route can work out cheaper than investing with an adviser, as in the case with Industry Super Funds which don’t pay third party commission.
On the other hand, investing direct may be too complicated to take on, particularly if you want to transfer out of your current employer’s superannuation scheme where you may be charged an exit fee.
Fees and investment performance should also be considered when making your Super decision, and so it should only be tackled by those who are confident in making their own investment decisions.
However, if this is your preferred route, we’ve included the contact details at the bottom of each Super Fund’s profile for your convenience and they will be able to help you with any necessary application forms and transfer documentation.
Some other factors to consider are -
- Some funds will have a minimum investment requirement while others may only accept corporate contributions through an employer.
- Transfer fees will be involved if you’re switching your existing super.
- You will have to inform your employer of your new super fund.
- What is your personal risk profile – do you want a fund that is purely equities or a lower risk balanced fund?
Using a Financial Adviser
Consulting a financial adviser can help you identify your financial goals, develop a plan to achieve them, monitor your progress and adjust your plans along the way to make sure you are on the right track.
RIAA recommends that you consult a financial adviser who is trained and experienced in providing responsible investment advice to assist you in making your final decision.
Different super funds will have different entry fees and annual management fees and going to an adviser can save you the legwork of comparing and contrasting what each fund is going to cost you.
Even more important is to take a look at the historic investment performance of the funds – information an adviser will have at their fingertips.
View a list of advisers who have passed our specialist training course and who are certified by RIAA.
Alternatively, view the list of financial advisers who are members of RIAA.DISCLAIMER: The information provided in this website is general in nature and its brevity could lead to misrepresentation. The information contained in the website is not intended to be advice and could be subject to change. No responsibility can be accepted for those who act on its contents without obtaining specific advice from an adviser.