{"id":2298,"date":"2025-10-29T05:17:23","date_gmt":"2025-10-29T05:17:23","guid":{"rendered":"https:\/\/actinvest.com.au\/?p=2298"},"modified":"2025-10-29T05:17:24","modified_gmt":"2025-10-29T05:17:24","slug":"beware-pushy-sales-tactics-targeting-your-super","status":"publish","type":"post","link":"https:\/\/actinvest.com.au\/index.php\/beware-pushy-sales-tactics-targeting-your-super\/","title":{"rendered":"Beware pushy sales tactics targeting your super"},"content":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) has warned Australians to beware of high-pressure sales tactics aimed at getting people to switch superannuation providers.<\/p>\n<p><img loading=\"lazy\" alt=\"\" height=\"313\" src=\"https:\/\/acctweb.com.au\/images\/Beware super.jpg\" width=\"550\" \/><\/p>\n<p>.<\/p>\n<h2>How to keep your super safe<\/h2>\n<p>The Australian Securities and Investments Commission (ASIC) has warned Australians to beware of high-pressure sales tactics aimed at getting people to switch superannuation providers.<\/p>\n<p>The regulator has warned that\u00a0\u201cclickbait\u201d ads, comparison websites and promises of unrealistic returns\u00a0are among the tactics being used to entice Australians into switching their retirement savings, sometimes into risky or unsuitable schemes.<\/p>\n<p>Here\u2019s what to look out for \u2014 and what to do if you\u2019re contacted.<\/p>\n<p>\u00a0<\/p>\n<h3>Why you might be targeted<\/h3>\n<p>Promoters of these schemes often benefit financially when you switch your super.<\/p>\n<p>For example, they might charge fees to your super fund for providing advice. They might also recommend setting up a self-managed super fund, which would incur set-up and ongoing administration fees, even if the product isn\u2019t appropriate for you.<\/p>\n<p>They could also benefit from fees or commissions for moving your superannuation into a different financial product.<\/p>\n<p>Often, the salespeople will make you feel like you need to decide immediately or risk missing out. But it\u2019s important to push back and take time to stop and think before risking your retirement savings.<\/p>\n<p>During sales calls, the caller may transfer you to a licensed financial adviser. ASIC warns this can be a \u201ctactic to show they are legitimate, but they will pass you back to the salesperson to collect information, provide the advice and close the deal.\u201d<\/p>\n<p>If you\u2019re after financial advice, instead\u00a0shop around\u00a0and find an adviser that suits your needs.<\/p>\n<p>\u00a0<\/p>\n<h3>Red flags to watch for<\/h3>\n<p>ASIC warns that consumers should be alert to these tactics and be cautious when contacted to review or switch their superannuation.<\/p>\n<p>ASIC says red flags include:<\/p>\n<ul>\n<li>High pressure sales tactics.<\/li>\n<li>Cold calls.<\/li>\n<li>The touting of free superannuation \u2018health checks\u2019 and prizes (often via social media advertisements or websites).<\/li>\n<li>Offers to find and consolidate \u2018lost super\u2019 for free.<\/li>\n<li>The involvement of unlicensed people in the advice process.<\/li>\n<li>Predominant engagement over the phone with limited in-person client contact with a financial adviser.<\/li>\n<li>Poor or no product disclosure.<\/li>\n<li>Promises of high or unrealistic returns.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h3>What to do if you\u2019re contacted<\/h3>\n<p>If you receive a suspicious or unsolicited call about your superannuation, ASIC suggests:<\/p>\n<ul>\n<li>Hanging up immediately.<\/li>\n<li>Blocking the number of the caller and consider joining the\u00a0Do Not Call Register.<\/li>\n<li>Reporting it to your super fund \u2014 if you have given out personal information, call your current super fund and tell them so they can block withdrawals.<\/li>\n<li>Talk to someone you trust \u2013 like a family member, friend, or a financial adviser.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h3>How to check your super safely<\/h3>\n<p>If you\u2019re wanting to check up on your super, keep in mind the Australian government has built an online comparison tool that can help.<\/p>\n<p>The ATO\u2019s\u00a0\u2018YourSuper comparison\u2019 tool\u00a0compares super funds that \u2013 like Vanguard Super \u2013 offer a \u2018MySuper\u2019 product. MySuper products are designed to be simple, low cost and easy to compare.<\/p>\n<p>A good place to start your research is your annual super statement, which includes details about your fund\u2019s fees and investment performance. Often, you can access a digital copy via your super fund\u2019s website or online portal.<\/p>\n<p>By being more engaged with super, you can make sure it\u2019s working as hard as it should. To learn more, visit the\u00a0educational resources on the Vanguard Super website.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\nBy Vanguard<br \/>\n8 October 2025<br \/>\nvanguard.com.au<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) has warned Australians to beware of high-pressure sales tactics aimed at getting people to switch superannuation providers.<\/p>\n","protected":false},"author":1,"featured_media":2299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2298"}],"collection":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=2298"}],"version-history":[{"count":1,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2298\/revisions"}],"predecessor-version":[{"id":2300,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2298\/revisions\/2300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media\/2299"}],"wp:attachment":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=2298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=2298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=2298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}