ASIC says too many Australians’ retirement savings being wiped out
The Australian Securities and Investments Commission (ASIC) has called out platforms that manage Australians’ retirement savings for a “troubling” lack of safeguards. The corporate watchdog is concerned that super trustees are failing to monitor harmful advice fee deductions, unusual fees, investment patterns, and high-risk superannuation switching activity. “All superannuation trustees should immediately review and consider…