Is Big Super Enough? How Independent Financial Advice Measures Up

When it comes to planning for your financial future, especially your retirement, most Australians start with their super fund. And why not? Big Super funds like AustralianSuper, Hostplus, and REST offer a convenient way to manage retirement savings, often with built-in investment options, insurance, and even basic financial advice.

But is that enough?

While these large super funds do provide valuable services to millions of members, their support is often limited to your super account alone. That’s where independent financial planners come in—offering a broader, more personalised, and often more strategic approach to managing your entire financial picture.

In this post, we’ll break down the key differences between the services offered by Big Super and those provided by independent financial planning firms like ours. Whether you’re considering retirement, managing multiple assets, or simply want to know if you’re on the right financial path, understanding these differences can help you make more confident, informed decisions.

1. Nature of the Service

Feature	Big Super Fund	Independent Financial Planning Firm
Core Purpose	Manages retirement savings (superannuation) for members.	Provides tailored financial advice across a broad range of areas.
Focus	Primarily superannuation and related insurance.	Holistic financial planning (including super, investments, estate, tax).

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2. Advice and Personalisation

Feature	Big Super	Independent Planner
Advice Type	Often intra-fund advice (limited to your super within the fund).	Comprehensive and tailored to individual circumstances.
Scope of Advice	Basic: contributions, investment choice, insurance within the fund.	Broad: covers multiple super funds, SMSFs, investments, debt, tax, estate planning, etc.
Personalisation	Generalised or lightly personalised for members.	Deeply personalised, often with strategic modelling and projections.

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3. Independence and Objectivity

Feature	Big Super	Independent Planner
Product Bias	Advice is limited to the super fund’s own products.	Can recommend a wide range of products from different providers.
Conflicts of Interest	Some potential – advice is tied to fund’s interests.	Independent planners are typically fee-for-service and must avoid conflicts.

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4. Cost to the Member/Client

Feature	Big Super	Independent Planner
Cost	Usually subsidised or free (covered by fund fees).	Often charged directly to the client (hourly, fixed fee, or ongoing service fee).
Payment Method	Deducted from your super account.	Paid out-of-pocket or via advice fee arrangements (can also be deducted from super if compliant).

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5. Regulation and Licensing

Feature	Big Super	Independent Planner
Regulated By	ASIC and APRA; intra-fund advice rules apply.	Regulated by ASIC; must meet best interest duty and full FASEA standards.
Advice License	Usually under a limited advice license.	Holds or operates under an AFSL (Australian Financial Services Licence).

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6. Breadth of Services

Feature	Big Super	Independent Planner
Additional Services	Insurance (TPD, income protection), investment options, basic retirement planning.	Cash flow management, tax structuring, investment portfolios, aged care planning, intergenerational wealth strategies, etc.
Client Types	Fund members only.	Open to anyone, including high net worth individuals and SMSF trustees.

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Summary

Scenario	Best Option
You want free, simple advice about contributions, investment choice, or insurance within your super fund	Big Super
You want tailored, strategic advice on retirement planning, investments, tax or estate planning	Independent Planner
You have multiple super funds, an SMSF, or complex finances	Independent Planner
You prefer a low-cost, straightforward service and don’t need complex advice	Big Super