Kelty opposes super funds offering advice (but Keating doesn’t)
One of the fathers of compulsory super, Bill Kelty, is against superannuation funds offering financial advice, a position in conflict with industry super doyens.
Bill Kelty, former secretary of the ACTU, has thrown his weight behind the view that superannuation funds should not offer financial advice to their members.
Kelty’s intervention is timely, given that Michelle Levy is investigating whether advice can be simplified, how to improve the clarity of advice documents, and whether parts of the regulatory framework have created unintended consequences.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
