Super brands ranked high to low

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CBA has topped the chart as the highest-rated superannuation brand for consumers, while MTAA Super was in last place out of the 20 measured. 

For the latest Roy Morgan Research Consumer Brand Rankings Table, 20 superannuation brands were analysed using nine consumer-based brand measures covering customer quality, financial performance, net gains from switching and market penetration.

CBA was the highest-rated brand on the list, with an average ranking of 5.2 out of 20. It ranked strongly on the use of financial planners and effective customer acquisition, and its weaknesses were to do with a less affluent client base, Roy Morgan said.

In second place, with an average ranking of 6.9, was Mercer, which according to Roy Morgan was mainly due to its members having a high personal income along with above average superannuation balances and contributions to superannuation.

NAB/MLC did not lead on any of the individual criteria. They exhibited consistent performance but fell back on performance satisfaction, said Roy Morgan.

The ANZ group sat in the middle of the pack, with the average balance within superannuation for each member in line with the industry average. “ANZ has room for improvement within the wealth management space,” Roy Morgan said. 

The highest ranked industry funds were Unisuper and Catholic Super, which exhibited strong results for satisfaction of performance and contributions beyond the compulsory level.

In last place was MTAA Super, with an average score of 16.3, with a very low percentage of customers satisfied with the financial performance of superannuation products. 

How they ranked:
1. CBA Group            5.2
2. Mercer                   6.9
3. NAB Group            7.0
4. Westpac Group      7.1
5. UniSuper               7.2
6. Catholic Super       7.7
7. AMP Group            8.9
8. ANZ Group             8.9
9. Health Super          9.3
10. Australia nSuper   9.6
11. Cbus                    9.9
12. Suncorp               10.6
13. LUCRF Super       11.0
14. CARE Super         12.0
15. HESTA                 12.6
16. TWU Super           13.4
17. Sunsuper              14.2
18. HostPlus               15.2
19. REST Super          16.2
20. MTAA Super          16.3

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  • Mark Thompson on 6/12/2013 9:39:12 AM

    I see Industry Funds way down the list, but won't they provide $20,000 more, as seen on TV.

  • Matthew Ross on 6/12/2013 9:48:32 AM

    Amazing. CBA has the highest ranked brand even though they have been smashed in the media all year for the activities of seven rogue advisers that were banned for mis-conduct.

    Calida, how many people were interviewed in the research? Can you let us know? How was the data gathered?

  • Martin B on 6/12/2013 10:19:32 AM

    The returns are not always higher after fees with an Industry Fund and if you ever die then don't expect a quick payout to your nominated beneficiary. Just maybe the compare adds on TV with the likes of Bernie Fraser and other dubious actors are not always as they seem.

  • Wealth Professional on 6/12/2013 10:21:03 AM

    Hi Matthew Ross,

    Roy Morgan surveyed 31,044 Australians between July 2012 to June 2013 for the Superannuation and Wealth Management in Australia report. Of those, more than 14,000 have work or personal super, and the CBA customer sample was 1,491. A Roy Morgan spokesman said the surveying was done in face-to-face interviews.

    Hope that helps,
    WP

  • Ben CFP on 6/12/2013 1:34:51 PM

    No surprises here with the industry funds being well below the retail groups. Yes they may 'appear' cheaper etc but the simple fact is they don't provide good face to face dealings with their members nor do their members get the advice they need (unless of course they come and see an experienced financial planner who leads them in the right direction). Outcomes are not purely driven by fees, as many would have you believe. My clients for one are driven by a multitude of factors such as tax minimisation, competitive fees, competitive returns, someone to talk to and with and someone who actually is interested in them as a person (the list goes on). And I am not alone, as I am sure most professional planners are the same. I have always said the truth will always win out and lately all I have been seeing are the negatives around the industry funds coming out and showing their true colours. Hmmm I wonder what their next ad blitz will be?

  • PJ on 9/12/2013 10:25:22 AM

    APRA Fund data says that there are 105 'Retail' funds and 55 'Industry' funds, yet industry funds dominate this list taking 14 of the top 20 spots.

    This is hardly signs of industry funds being well below 'retail' funds as is being suggested in these comments.

  • Mark Thompson on 9/12/2013 10:33:49 AM

    I'm waiting for the day of reckoning with industry funds with their over exposure to unlisted property. Every time a big account walks out set up a SMSF means other assets have to be sold to convert to cash. Once IFs have more exposure to liquidity then their so called superior returns will be more accurately valued.

  • baz on 9/12/2013 3:13:06 PM

    Hey Mark - it already has read over MTAA's recent history [ from 07 to now] and to think they told their members it was medium risk ...

  • Michelle on 11/12/2013 10:36:22 AM

    Hi Matthew,

    I'm struggling to understand what bearing 7 rogue Commonwealth Financial Planning advisers (out of around 700) have on the performance of CBA's super funds which are managed by a completely separate division.

    Am I missing something?

  • Matthew Ross on 11/12/2013 1:22:01 PM

    The article is about ranking brands Michelle, not super fund performance.

    Does that clear up the confusion?

  • Nikki on 12/12/2013 10:23:27 PM

    That the survey considers bank brands are super brands is a flaw. Consider bank super brands like BT Super for Life, MLC MasterKey and Plum. An MLC member would be blind to the NAB brand unless they bank with them.

  • Matthew Ross on 13/12/2013 8:32:40 AM

    Nikki nailed it...

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