I switched my super to Verve, and here is why you should too!
I first heard of Verve Super, when I saw co-founders Christina Hobbs, Alex Andrews and Zoe Lamont on ABC Breakfast TV in December last year.
It wasn't until a week or so later when I was by chance talking to Alex on the phone, the 40 minute conversation was enough to get me hooked. Her passion and determination to agitate for change and build the financial independence of women was infectious and I jumped right in.
A short time later, I was lucky to met with Verve Super CEO and trailblazing women Christina Hobbs, who with Alex and Zoe is taking on the $2 trillion dollars Australian industry, run mostly, 91% in fact by men.
Chrissy message was clear:
“We invest ethically, and we’re the first superannuation company in Australia that applies a gender lens so we don’t invest in companies that don’t have women on their boards.”
Many Australian’s don’t know where their super is invested, let alone *what* it’s invested in. For most of us, super becomes our biggest asset and one of the most powerful ways we can influence the world we live in.
To give you an idea of how powerful superannuation is: by 2030 super funds will own half of the companies on the Australian Stock Exchange (ASX). That means everyday Australians will own half of the companies listed on the ASX. As we directly invest in these companies, so they can use our money to grow their businesses – our money can be used to grow tobacco companies or green technology companies. We decide.
Where you invest your super is a vote for the future you want to retire in — the world you will pass on to the next generation. It is your legacy.
Before we started Verve Super – we surveyed hundreds of women to find out how they wanted their super invested. Nine out of 10 women wanted their money invested ethically. Yet, if you've invested in a mainstream super fund today, you are over 80% exposed to fossil fuels. Given many super funds do not freely disclose the companies they invest in (we do!), we simply do not know that our retirement savings might be funding industries like live animal export, detention centres, guns, tobacco and gambling. These companies addict, pollute and cause harm to people, animals and the planet.
At Verve Super, they guarantee to get your money out of harmful industries and invest it in a cleaner, greener future.
Our Fund Managers seek out investments that create a better future — companies involved in renewable energy, green technology, affordable housing, medical technology, sustainable food production, education and companies that promote women in leadership.
The good news is investing ethically doesn’t mean you have to compromise on returns. In fact, companies that care more about the environment and the community tend to perform better.
This is supported by data from The Responsible Investment Association of Australasia, which consistently finds that ethical funds outperform mainstream funds over all time periods.
The results in Australia aren’t unique. Global studies from Oxford University, Harvard Business School, and the United Nations Environment Programme Finance Initiative have demonstrated similar positive returns for ethical investments.
This is not new information, it’s simply time to act. As we watch government continue to lag behind a thriving renewable future we have the opportunity to use the power of our investment to create change.
Women will have 1.5 trillion dollars in super by 2025. That’s an enormous amount of financial power that, if invested ethically, could remarkably reshape our economy — and our planet.
It’s up to us to decide the world we want to create and what legacy we want to leave behind.
In addition to ethical investing Verve Super are clear on helping re-design the superannuation experience for members, as they work towards solving and preventing the super savings retirement gap that exists today.
“Women in Australia are retiring with half the savings of men, and we believe it’s time for a fund that is dedicated to closing this gap,”
Here are 3 ways Verve Super are redesigning the member experience.
1. Services are tailored for women, by women - member welcome calls, free financial coaching, online training, member events, advocating to employers on your behalf to get paid super while on maternity leave.
When was the last time you got a call from your super fund? I did within 5 days of joining.
2. Fair fees - Verve Super's fees are fair and comparable to the responsible options of leading industry funds. If you're just starting to build your super wealth Verve Super will freeze fixed fees for all balances under $5,000, raising a new born, you'll enjoy the same fixed fee freeze for 12 months parental leave.
3. Campaigning for a fairer system - Verve Super launched the #makeourfuturefair
campaign last month in an effort to close the super savings retirement gap!
Read more about Verve Super below:
Like to learn more? Get in touch: firstname.lastname@example.org