Our new name better reflects who we are, how we’ve always been and our actions for members.
Why is First State Super changing its brand?Show more
Currently we’re managing two brands under the First State Super banner – First State Super (our super fund), StatePlus (our advice business) - and we merged with VicSuper in July this year, meaning we now have a third brand to support.
As we look to the future, we’ve thought deeply about the need to create a single brand.
One recognisable brand is more cost-effective to build and support over time. We are very conscious of our responsibility to spend our members’ funds prudently. By consolidating under one brand, we’re able to amplify our impact and achieve greater economies of scale.
In addition, many of our members have spoken to us about the confusion of First State Super with many other brands that sound similar (such as First Super, Colonial First State and State Super).
Why did we pick the name Aware Super?Show more
It’s a brand that reflects who we are and who we strive to be in the future. It’s a name we chose together in consultation with many of our members and a name that members liked because it clearly signals our action and intention.
Aware Super echoes our core purpose (to be a force for good, shaping the best outcomes for our members, their families, communities and the superannuation industry).
Aware Super celebrates and honours the spirit and actions of all our members. The extraordinary Australians, who we are proud to serve. It also demonstrates our ongoing commitment to action and impact – for our members, their communities and the world we live in.
Because we are aware our:
- Members pay low fees^1 and receive strong long-term returns^2, without compromising on the integrity of the way we invest.
- Members access their super through our intuitive award-winning app^3, over the phone or face to face via our dedicated service teams in more than 68 locations.
- Members benefit from easy access to one of the industry’s most comprehensive range of quality financial advice and education services.
- Members’ assets are invested responsible to improve our communities, build a more sustainable economy and support employment both locally and globally.
Aware Super is simply a name that describes who we’ve always been.
What happens to all the materials with the old name and logo - will all of this just be thrown in the bin?Show more
As we roll out our new brand and name, we will minimise waste by using existing collateral and merchandise that is in our current brand and recycling or reusing these assets. One of the initiatives currently being discussed is carbon off-setting paper waste and overall company emissions. More information about these initiatives, and what we are doing to try and be as sustainable and environment friendly as possible will be shared over the coming months.
I don’t like the name. Why did you pick it?Show more
We all know that names can be subjective. In order to find the most appropriate name we spoke with members, clients and potential members to understand what they wanted from a super fund. In that testing, Aware Super was delivered.
Our new name reflects our members' desire for a name that both reflects who we are as an organisation and how we can support them in driving better retirement outcomes.
In total 122 names were considered, over 40 preliminary legal clearance searches were conducted and just under 40 different names were tested. Aware Super met all these criteria and was the name most preferred by the Board.
Were members consulted in the choosing of the new name and any other brand decision, such as the logo?Show more
Members, clients, potential members and colleagues were engaged throughout the work we did to establish our new brand name and positioning. Our choices and direction reflect their feedback and have been validated through the process.
We also actively engaged and secured support from our Board through the process. Our Board consists of both employer and member representatives to ensure that the needs of those they represent are met and that decisions like this are made in their best interests.
How is the name change affecting me? Will how I deal with you as a fund change?Show more
While our brand and name may be changing, our commitment to helping you live the life you choose won’t waver. You will continue to transact with us as you always have, and our local service centre representatives are here to help as they always have been. If you have a financial planner, that relationship won’t change.
Changes you’ll see over the coming months include:
- All correspondence you receive will have the new brand look and come from Aware Super.
- Our website will be rebranded to Aware Super.
- Our member service centres and advice offices will feature new signage to reflect our new brand Aware Super.
The total annual fee (inclusive of admin and investment fees) for our Growth option is 1.10% p.a., the industry average is 1.43% p.a., Chant West Super Fund Fee Survey, March 2020, based on a $50,000 balance in a Growth option given the circumstances has been approved previously and would be the most recent available. ↩
The First State Super Growth option as sourced from the SuperRatings Fund Crediting Rate Survey for the SuperRatings SR50 Balanced (60-76) Index delivered a rolling 10 year return to 31 May 2020 of 7.77%. This is compared to the SR50 Balanced (60-76) Index median rolling 10 year return to 31 May 2020 of 7.13%. Returns are calculated net of investment fees, tax and implicit asset-based administration fees. The SR50 is an index of 50 super funds whereby each fund is assessed on criteria such as their size, history of returns and allocation of assets to growth assets between 60 -76 percent of the investment. This disclaimer is related to the First State Super accumulation product. Past performance is not a reliable indicator of future performance. ↩
Awarded Gold at the 2019 Sydney Design Awards for the category Digital - New Service or Application. ↩