The magic number behind the super switching trend

by · Australian Financial Review

Andrew HobbsWealth reporter
May 6, 2026 – 5.00am

The rapid acceleration of outflows from previously dominant industry superannuation funds to retail funds, wrap platforms and self-managed super funds has many causes, but the financial advisers that help people make the switch say there is one number that keeps coming up – $1 million.

That’s the rough threshold at which couples tend to seek financial advice, which frequently then leads to switching away from industry funds and into funds that allow for a wider choice of investment options, better tax outcomes and more personalised service.

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Andrew HobbsWealth reporterAndrew Hobbs covers self-managed superannuation funds (SMSFs), financial planning, retirement, inheritance, tax, personal finance and, sometimes, the Perth Bears. He has been a financial journalist for 30 years, previously at Bloomberg and AAP.

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