Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Another super fund in hot water, is it yours?

Skyscrapers

Another superannuation fund is facing class action proceedings over payments to financial advisers.

William Roberts Lawyers and litigation funder Litigation Capital Management have announced they are moving forward with legal proceedings against Suncorp Super.

The class action alleges that Suncorp Super executed agreements to entrench fees to be used for payment of conflicted remuneration to financial advisers that would become unlawful following 1 July 2013. 

William Roberts has not proposed that any financial advisers will be sued in the class action. 

Advertisement
Advertisement

The class action will be funded on a “no win, no pay” basis. This means if William Roberts loses, they will pay for the action. If the class action is successful, William Roberts will be reimbursed.

Who is involved?

Anyone who is a member of Suncorp Super before 1 July 2013 has been encouraged to come forward as part of the dispute.

The proposed class action will be brought on behalf of the members of the Suncorp Super Funds whose accounts have been impacted by the payments of conflicted charges from 1 July 2013.

Compensation

The main compensation that is being sought is effectively a refund of the conflicted charges to members plus interest, said William Roberts.

This email address is being protected from spambots. You need JavaScript enabled to view it.

Another super fund in hot water, is it yours?
Skyscrapers
nestegg logo
subscribe to our newsletter sign up
FROM THE WEB
Recommended by Spike Native Network
Bronson - I love you Brenton please write more....
The Patriot - It seems madness to lower interest rates when we know that we will need room to drop later as the economy slows on back of China slowing. If wages do.......
Anonymous - Does the RBA think?....
Anonymous - Bloody mad. Much cheaper and better and more fun to learn to cook for yourself. And, if you are time pressed, a crockpot set up the night before and.......