Self-directed super risks in focus as Pearler launches 'no boomers' product
Financial experts have expressed caution about self-directed super fund products, which give unadvised users more control over their retirement savings.
In the wake of the launch of a new 'no boomers' offering from startup provider Pearler, financial experts have expressed caution about self-directed super fund products and the use of exchange traded funds in retirement savings portfolios.
Pearler Super, a completely self-directed super product only available to people aged under 55, launched this week.
Self-directed super products (which are distinct from self-managed super funds) give users more control over the underlying investments in in their super, and are also offered in various forms by the likes of SuperHero, ING Super and Vanguard and AustralianSuper.
Pearler's product only allows users to invest in ETFs. The super fund allows members to choose from a list of over 40 ETFs with each carrying a portfolio allocation cap ranging from 5% to 100%. Most of the ETFs are in equities along with some bond, cash, and geared ETF options.
