Several things have brought change to the finance sector, directly and indirectly, that have now set up a real opportunity for Super Funds to come out into the open and take a leadership role in the community:
Moreover, the Super industry is by nature long-sighted. It is generally not beholden to the same pressures the banks are under from consumers, Government, the media and shareholders. It has time to breathe, time to assess and time to lead - patiently; methodically; and purposefully.
In fact, it feels like a real tipping point moment for the Super-sector;
So, it seems clear to us the upshot is:
That brings not only an obligation, but an opportunity, to use that power and wealth for the good of not only the members but the broader communities they live in.
The challenge for super funds is how they do that when they have highly limited b2c resources and retail footprint, and within the regulatory constraints of serving their members.
Enter stage left our well-established non-profit, for-purpose, sector. They are already primed and capable of delivering real outcomes in partnership with the Super funds, but few funds are engaging in meaningful, impactful partnerships as we speak.
So, something needs to change. True leadership means a clear purpose beyond making money. It means driving positive change environmentally and socially. You can’t have our balance sheet and be idle, that doesn’t cut it anymore.
Author: Bruce McKaskill, MAICD, is a Founding Partner at Fit Brand & Partnerships, Australia's leading independent brand and partnership growth consultancy serving rights holders in the arts, community, associations and Government services sectors.