Business
Online broker Stake makes play for Millennial super – The Australian Financial Review
Stake is helping the new cohort of young investors establish their own self-managed superannuation funds in a move it hopes will disrupt the “antiquated” model…
“Australians are out of the loop with their super. Its their biggest life saving and they don’t have choice or transparency that doesn’t seem right. Big industry funds and managers would have you believe it’s complicated and costly to reclaim this. It isnt, and it is time for change.”
He said feedback from Stake users found a perception of the APRA-regulated super industry as “slow, cumbersome and antiquated” and unwilling to provide younger investors with the autonomy they seek over their own investments.
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