Getting retirement advice shouldn’t be this hard
Most Australians hit their 50s or 60s with savings in super, fear in their gut, and no idea what to do next. And when they go looking for advice, they hit a brick wall.
We’ve built a colossal $4.2 trillion super system, but we’ve failed at the one thing people need most: guidance and advice for everyday people.
Most Australians hit their 50s or 60s with savings in super, fear in their gut, and no idea what to do next. And when they go looking for advice, they hit a brick wall. Financial advisers are expensive, often full-service only, and in short supply. Super funds? Most are legally restricted from giving personalised help. The result? Confused, stressed-out pre-retirees stuck in limbo.
This is Australia’s retirement blind spot—and we’re long overdue to fix it. Getting advice on your retirement shouldn’t be this hard!
In this episode, I sit down with Mary Delahunty, CEO of the Association of Superannuation Funds of Australia (ASFA), to unpack the long-awaited reforms that aim to close the advice gap. Reforms that seem to be moving very slowly!.
We talk about the politics, the pain points, and the promise of a new class of advice that could finally meet people where they are—with the right help, at the right price, when they actually need it. If you’ve ever asked, “What should I do with my super?” or “How do I navigate retirement” and been met with silence, rules, or fees—you’ll want to hear this.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the conversation:
The big issue:
Too many Australians are stuck between two extremes—either paying thousands for full-scale financial advice, or going without any personalised help at all. And for the everyday person trying to plan for retirement, neither option feels right.
Why the system is broken now:
Super funds can help you understand what you’re invested in. But the moment you ask, “What should I do?”—it crosses the line into personal advice, which is heavily regulated and often restricted. That’s where the system hits a wall.
What’s changing:
Reforms currently in progress (known in the industry as the “DBFO reforms”) aim to introduce a new class of adviser, allowing funds to provide more tailored, bite-sized, and cost-effective advice—especially at critical moments like retirement.
What it could mean for you:
More help from your super fund when you need it
Advice options that don’t require full financial plans or massive fees
Clarity on how much you’ll pay, and what you’ll get for your money
The ability to ask simple questions and get personal answers—without fear
Plus:
We talk about how fear stops people from seeking help, the hidden complexity in licensing rules, how funds might charge for advice under new rules, and why education and digital tools must work with advice—not replace it.
My favourite takeaway…
Mary’s call to arms: Everyone benefits from some form of advice or guidance—but not everyone needs the same type. The future of advice should offer choice, flexibility, and clarity. And we’re not there yet.
Join the conversation…
Leave a comment on this week’s newsletter to share your view: what kind of advice are you missing?
📣 Let’s keep this moving forward. If enough of us speak up about the need for better, simpler advice—Parliament might just listen.
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About time! Long for the day when you can speak to an advisor for actionable insights, rather than ridiculous templated reports that provide nothing of value yet cost a fortune.
It’s extremely difficult when you have a SMSF.