1 00:00:03,450 --> 00:00:06,220 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean Aylmer. 2 00:00:06,450 --> 00:00:10,180 Sean Aylmer: I've spoken many times about how technology has significantly changed 3 00:00:10,180 --> 00:00:14,260 Sean Aylmer: the way we're investing. The revolution is particularly clear when 4 00:00:14,260 --> 00:00:17,650 Sean Aylmer: trading shares with the ability to buy and sell Australian 5 00:00:17,710 --> 00:00:20,250 Sean Aylmer: and US equities direct from your phone using an app. 6 00:00:20,840 --> 00:00:24,070 Sean Aylmer: And now one Australian trading platform is applying that same 7 00:00:24,070 --> 00:00:28,990 Sean Aylmer: approach to superannuation, giving customers the opportunity to directly invest 8 00:00:28,990 --> 00:00:34,080 Sean Aylmer: their super into ASX 300 shares without setting up an SMSF (Self Managed Super Fund). 9 00:00:34,770 --> 00:00:38,320 Sean Aylmer: John Winters is the Co-Founder and CEO of Superhero, which is 10 00:00:38,320 --> 00:00:40,430 Sean Aylmer: a supporter of Fear and Greed. John, welcome to Fear 11 00:00:40,430 --> 00:00:40,640 Sean Aylmer: and Greed. 12 00:00:41,090 --> 00:00:42,360 John Winters: Good day, Sean. Thanks for having me. 13 00:00:42,750 --> 00:00:44,810 Sean Aylmer: First on Superhero, why did you decide to start a 14 00:00:44,810 --> 00:00:46,930 Sean Aylmer: trading platform? There's plenty of options out there. 15 00:00:47,240 --> 00:00:50,060 John Winters: Yeah, it was an interesting journey. Been in financial services, 16 00:00:50,060 --> 00:00:53,310 John Winters: private wealth, stockbroking for the last 15 or so years, 17 00:00:53,310 --> 00:00:56,150 John Winters: and just saw that there's so much complexity for the 18 00:00:56,150 --> 00:00:58,820 John Winters: investor to go through even just to set up an account. 19 00:00:58,820 --> 00:01:01,670 John Winters: So that was sort of the first challenge that sort 20 00:01:01,670 --> 00:01:04,770 John Winters: of drove me to start Superhero, but also the view 21 00:01:04,770 --> 00:01:08,059 John Winters: that all of my clients, when I was investing for them, 22 00:01:08,190 --> 00:01:11,720 John Winters: a lot of them had self-managed super funds. And through 23 00:01:11,720 --> 00:01:14,520 John Winters: the startups and things that we saw coming through, a 24 00:01:14,520 --> 00:01:16,789 John Winters: lot of my friends and people my age were coming 25 00:01:16,790 --> 00:01:18,610 John Winters: to me saying, I want to buy some shares. I don't have 26 00:01:18,610 --> 00:01:20,120 John Winters: a huge amount of money, but I've got this big 27 00:01:20,120 --> 00:01:22,890 John Winters: pot of money in super. Can I use that? And 28 00:01:22,890 --> 00:01:27,259 John Winters: without a self-managed super fund, it's very difficult. So the 29 00:01:27,260 --> 00:01:29,850 John Winters: idea really came from how do we keep people's money 30 00:01:29,850 --> 00:01:34,209 John Winters: within that superannuation environment, but give them control, give them access, 31 00:01:34,209 --> 00:01:37,930 John Winters: give them that transparency that everyone wants these days to 32 00:01:37,930 --> 00:01:40,350 John Winters: be able to at least see what you're invested in, 33 00:01:40,540 --> 00:01:44,029 John Winters: but also make a decision on where it gets invested, 34 00:01:44,370 --> 00:01:45,899 John Winters: right down to individual shares. 35 00:01:46,140 --> 00:01:49,110 Sean Aylmer: Okay. So you're going to have to hold my hands through this. I 36 00:01:49,110 --> 00:01:52,350 Sean Aylmer: always thought I could only do what you are talking about if 37 00:01:52,350 --> 00:01:55,300 Sean Aylmer: I had a self-managed super fund, but obviously not. 38 00:01:55,660 --> 00:01:57,130 John Winters: Yeah. So it is a little bit different to a self-managed 39 00:01:57,680 --> 00:02:00,030 John Winters: super fund. So it is a retail fund. So it's 40 00:02:00,030 --> 00:02:03,560 John Winters: no different to the regulatory structure of an IOOF (Independent Order of Odd Fellows) fund 41 00:02:03,560 --> 00:02:06,700 John Winters: or an Aussie Super. It's the same structure. So it's 42 00:02:06,700 --> 00:02:10,579 John Winters: an APRA regulated public offer fund, but instead of choosing 43 00:02:10,580 --> 00:02:14,420 John Winters: a balanced or a growth or a conservative investment choice, 44 00:02:14,950 --> 00:02:18,790 John Winters: we've given you 300 investment choices, being the ASX 300, 45 00:02:19,139 --> 00:02:23,299 John Winters: plus about 150 ETFs. You invest just like you would on 46 00:02:23,300 --> 00:02:26,440 John Winters: the Superhero platform if you're an everyday sort of investor 47 00:02:26,730 --> 00:02:29,220 John Winters: using money out of your pocket. You can come onto 48 00:02:29,220 --> 00:02:33,280 John Winters: the platform and invest directly into shares using your super, 49 00:02:33,350 --> 00:02:36,030 John Winters: without having to put your hand in your pocket, but 50 00:02:36,030 --> 00:02:40,740 John Winters: also not needing that ATO regulated self-managed super fund structure. 51 00:02:40,940 --> 00:02:43,740 Sean Aylmer: Okay. So is the structure I'm actually buying into a 52 00:02:43,740 --> 00:02:46,589 Sean Aylmer: super fund though? Like I can't just use my AustralianSuper 53 00:02:46,910 --> 00:02:49,630 Sean Aylmer: or whatever it is fund, I have to buy into 54 00:02:49,630 --> 00:02:50,900 Sean Aylmer: a Superhero fund. Is that right? 55 00:02:50,990 --> 00:02:53,970 John Winters: So we are a fully authorised regulated fund. So you 56 00:02:53,970 --> 00:02:56,310 John Winters: can actually go onto our platform. You sign up, you 57 00:02:56,310 --> 00:02:58,240 John Winters: put your tax file number in and it will show 58 00:02:58,240 --> 00:02:59,651 John Winters: you all of your existing super balances. 59 00:02:59,651 --> 00:03:00,300 Sean Aylmer: Right. 60 00:03:00,300 --> 00:03:03,589 John Winters: So if you had a couple or some people have 61 00:03:03,810 --> 00:03:05,980 John Winters: quite a number of super funds, some that they may 62 00:03:05,980 --> 00:03:09,260 John Winters: not have realised, you'll be able to see that through the platform, 63 00:03:09,260 --> 00:03:11,031 John Winters: click a button and transfer it over to Superhero. 64 00:03:11,031 --> 00:03:11,781 Sean Aylmer: Right. 65 00:03:12,210 --> 00:03:15,519 John Winters: So you actually have a superhero Super account. 66 00:03:15,840 --> 00:03:16,590 Sean Aylmer: Yes. Right. 67 00:03:16,610 --> 00:03:19,460 John Winters: So you would depart your Aussie Super or your other 68 00:03:19,460 --> 00:03:21,840 John Winters: fund, and this would become your super fund. 69 00:03:22,120 --> 00:03:24,549 Sean Aylmer: Okay. And are there limits on how much you can 70 00:03:24,550 --> 00:03:27,950 Sean Aylmer: invest? And I suppose I'm thinking about checks and balances, 71 00:03:27,950 --> 00:03:30,470 Sean Aylmer: just to make sure that people are using it as 72 00:03:30,470 --> 00:03:34,510 Sean Aylmer: a super account rather than a sort of day trading account. 73 00:03:34,630 --> 00:03:37,970 John Winters: Yeah, absolutely. So some of the things that we've heard probably more 74 00:03:37,970 --> 00:03:40,190 John Winters: recently with the rise of buy now pay later, and 75 00:03:40,560 --> 00:03:44,540 John Winters: certainly when you're getting a home is responsible lending. That's 76 00:03:44,540 --> 00:03:47,590 John Winters: something that has become very front of mind for the 77 00:03:47,590 --> 00:03:51,240 John Winters: banks and anyone issuing credit. And we've taken that same 78 00:03:51,240 --> 00:03:53,850 John Winters: approach when it comes to investing. So your super is 79 00:03:53,850 --> 00:03:57,290 John Winters: a long-term investment asset. It's not a day trade. So we've 80 00:03:57,290 --> 00:04:01,160 John Winters: built a responsible investment layer into the platform. So some 81 00:04:01,160 --> 00:04:03,450 John Winters: may say that that's going to limit their ability to 82 00:04:03,450 --> 00:04:06,360 John Winters: invest exactly what they want to invest in, but we've 83 00:04:06,360 --> 00:04:08,790 John Winters: put limits, we've put checks and balances so you can't 84 00:04:08,790 --> 00:04:11,000 John Winters: go and put 100% of your portfolio into Afterpay. 85 00:04:11,390 --> 00:04:11,610 Sean Aylmer: Yep. Right. 86 00:04:11,740 --> 00:04:14,180 John Winters: And looking back over the last couple of years, it 87 00:04:14,180 --> 00:04:15,620 John Winters: would've probably been a good investment- 88 00:04:15,620 --> 00:04:15,621 Sean Aylmer: Not a bad call! 89 00:04:15,621 --> 00:04:21,010 John Winters: ... but it's about diversifying and building a long-term portfolio. 90 00:04:21,360 --> 00:04:24,029 John Winters: So we do have those checks and balances on the platform. 91 00:04:24,270 --> 00:04:27,070 John Winters: It goes into the user experience. It's just part of it. 92 00:04:27,070 --> 00:04:29,190 John Winters: It's all sort of set up, and tells you how 93 00:04:29,190 --> 00:04:32,289 John Winters: it works along the way. But you can go and build a portfolio 94 00:04:32,290 --> 00:04:35,730 John Winters: of a whole bunch of different companies, but there are 95 00:04:35,730 --> 00:04:39,190 John Winters: systems in place to help you diversify, to help you 96 00:04:39,420 --> 00:04:44,220 John Winters: get exposure to offshore markets, Aussie markets. Whether you're interested 97 00:04:44,779 --> 00:04:48,520 John Winters: in battery tech or lithium or banks, or whatever it is, 98 00:04:48,529 --> 00:04:50,740 John Winters: the whole platform sort of helps you along that journey. 99 00:04:50,930 --> 00:04:53,170 Sean Aylmer: Yeah. Those checks and balances of course, are for the 100 00:04:53,170 --> 00:04:58,270 Sean Aylmer: investors good because superannuation is a long-term investment and diversification matters. 101 00:04:58,620 --> 00:05:01,480 John Winters: Yeah, absolutely. So if we took all of that off, 102 00:05:01,830 --> 00:05:04,380 John Winters: it'd probably be great for business, it'd create a lot 103 00:05:04,380 --> 00:05:07,659 John Winters: more activity, but we want people to come on, build 104 00:05:07,660 --> 00:05:12,540 John Winters: a long-term portfolio. And by almost slowing down the process 105 00:05:12,940 --> 00:05:16,610 John Winters: it helps people set up those portfolios in a much 106 00:05:16,610 --> 00:05:20,580 John Winters: better way by building a core portfolio of ETS, by 107 00:05:20,580 --> 00:05:23,920 John Winters: then adding on a range of individual shares to give 108 00:05:23,920 --> 00:05:26,950 John Winters: them that growth or that income that they're looking for. 109 00:05:27,160 --> 00:05:28,920 Sean Aylmer: Stay with me, John, we'll be back in a minute. 110 00:05:33,800 --> 00:05:37,219 Sean Aylmer: My guest this morning is John Winters, Co-Founder and CEO 111 00:05:37,220 --> 00:05:41,409 Sean Aylmer: of Superhero. So how is Superhero Super going? How many 112 00:05:41,410 --> 00:05:42,400 Sean Aylmer: users do you have? 113 00:05:42,560 --> 00:05:45,670 John Winters: Yeah. So it's only really been live for about six weeks. 114 00:05:45,670 --> 00:05:45,870 Sean Aylmer: Oh, wow. 115 00:05:46,440 --> 00:05:49,020 John Winters: We've spent about four years building it. So it's been 116 00:05:49,020 --> 00:05:52,290 John Winters: a huge regulatory engagement. It's been an engagement with all 117 00:05:52,290 --> 00:05:54,730 John Winters: of the various players. So you've got a trustee, you've 118 00:05:54,730 --> 00:05:57,730 John Winters: got a member administrator, there's custodians involved. It's a whole 119 00:05:57,730 --> 00:06:01,750 John Winters: range of different players. We've got Citigroup as our custodian. 120 00:06:01,750 --> 00:06:03,950 John Winters: It's one of the biggest in the world. There's a 121 00:06:03,950 --> 00:06:06,150 John Winters: whole range of different players. And to get all of 122 00:06:06,150 --> 00:06:09,310 John Winters: those ducks in a row, it literally took four years 123 00:06:09,680 --> 00:06:12,120 John Winters: to get there. So we've been live for about six 124 00:06:12,120 --> 00:06:14,510 John Winters: weeks and it's growing pretty well. We've got a couple 125 00:06:14,510 --> 00:06:17,680 John Winters: of thousand people who have come over already and we 126 00:06:17,680 --> 00:06:20,150 John Winters: haven't really started marketing it. We haven't really pushed it out. 127 00:06:20,150 --> 00:06:22,630 John Winters: We just pushed it to our existing customer base. We've 128 00:06:22,630 --> 00:06:26,160 John Winters: got about 125,000 people on the Superhero trading side of 129 00:06:26,160 --> 00:06:28,849 John Winters: the business. So just sort of letting them know this 130 00:06:28,850 --> 00:06:31,310 John Winters: is what you could do if you wanted to, and 131 00:06:31,310 --> 00:06:35,440 John Winters: really trying to build that sort of organically, initially, without 132 00:06:35,440 --> 00:06:38,260 John Winters: having to sponsor the tennis or anything like that. 133 00:06:38,261 --> 00:06:41,040 Sean Aylmer: Yeah. The Super space is very interesting. I mean, there's so 134 00:06:41,040 --> 00:06:45,660 Sean Aylmer: much money in it, $3 trillion, and it's dominated by 135 00:06:45,660 --> 00:06:48,700 Sean Aylmer: some very big players, be it industry or retail funds, 136 00:06:49,200 --> 00:06:52,690 Sean Aylmer: but people like you and others are actually getting much 137 00:06:52,690 --> 00:06:58,110 Sean Aylmer: more innovative and you suspect, so long as those regulatory rules are in place, 138 00:06:58,630 --> 00:07:00,950 Sean Aylmer: you suspect that super is going to become much more 139 00:07:00,950 --> 00:07:04,210 Sean Aylmer: flexible going forward with checks and balances. 140 00:07:04,550 --> 00:07:07,279 John Winters: Yeah. So that's what we really strive for. So we 141 00:07:07,279 --> 00:07:11,810 John Winters: don't want people to default into a super fund. So 142 00:07:12,170 --> 00:07:14,619 John Winters: a default super fund is where you join an employer 143 00:07:14,620 --> 00:07:16,370 John Winters: and they go and fill out a form for you 144 00:07:16,370 --> 00:07:18,750 John Winters: and they pay your super to some super fund that 145 00:07:18,750 --> 00:07:21,630 John Winters: you've never heard of. That's a really big financial decision 146 00:07:21,630 --> 00:07:23,790 John Winters: that you're leaving up to someone else. So we want 147 00:07:23,790 --> 00:07:27,410 John Winters: people to make an active choice in where their super's invested. 148 00:07:27,440 --> 00:07:29,610 John Winters: So whether it's with us, whether it's with someone else, 149 00:07:30,110 --> 00:07:32,700 John Winters: make that choice because it makes a big difference over 150 00:07:32,700 --> 00:07:36,370 John Winters: the long-term. So I do think that the industry is 151 00:07:36,370 --> 00:07:39,480 John Winters: going to move to be more flexible. We all want 152 00:07:39,480 --> 00:07:41,750 John Winters: control these days. We want to be able to go 153 00:07:41,750 --> 00:07:44,370 John Winters: onto our phone and order a car to the airport. 154 00:07:44,390 --> 00:07:46,210 John Winters: We don't want to have to call a cab rank. 155 00:07:46,510 --> 00:07:48,100 John Winters: We don't want to go and have to wait for a car 156 00:07:48,350 --> 00:07:51,370 John Winters: to show up outside the door. We want to turn 157 00:07:51,370 --> 00:07:53,310 John Winters: on the TV and watch what we want to watch 158 00:07:53,310 --> 00:07:56,540 John Winters: right now. We want that control. And whether you want 159 00:07:56,540 --> 00:07:59,130 John Winters: to use it or not, people want to know that 160 00:07:59,130 --> 00:08:03,370 John Winters: they can, they may not necessarily always use it. So 161 00:08:03,370 --> 00:08:05,570 John Winters: I do think the industry is going to change, but 162 00:08:05,610 --> 00:08:09,470 John Winters: what is really interesting for us versus other major funds 163 00:08:09,470 --> 00:08:12,980 John Winters: out there is when you do see advertising and marketing, 164 00:08:13,090 --> 00:08:15,230 John Winters: and there's a lot of it across the industry, it 165 00:08:15,230 --> 00:08:18,050 John Winters: is a big pot of money, but they actually dip 166 00:08:18,050 --> 00:08:21,520 John Winters: into members' assets to pay for that marketing. And that 167 00:08:21,520 --> 00:08:26,850 John Winters: comes off the member performance. We can't do that. We're 168 00:08:26,850 --> 00:08:29,330 John Winters: a commercial business. We can't just go and take people's money and go and 169 00:08:29,330 --> 00:08:32,860 John Winters: spend it on advertising. So we've raised about $40 million 170 00:08:33,179 --> 00:08:35,309 John Winters: over the last six months to go and build the business. 171 00:08:35,530 --> 00:08:38,839 John Winters: So we've got to tap into our equity capital to 172 00:08:38,840 --> 00:08:41,080 John Winters: advertise the business, which I feel is sort of the 173 00:08:41,080 --> 00:08:43,040 John Winters: right way to do it. We can't go and use 174 00:08:43,360 --> 00:08:44,640 John Winters: people's money to advertise. 175 00:08:44,850 --> 00:08:46,760 Sean Aylmer: I'm in an industry fund. And every time I see 176 00:08:46,760 --> 00:08:49,110 Sean Aylmer: that industry fund ad, it drives me crazy because that's 177 00:08:49,110 --> 00:08:50,040 Sean Aylmer: my money they're using. 178 00:08:50,460 --> 00:08:50,770 John Winters: Exactly. 179 00:08:50,980 --> 00:08:54,120 Sean Aylmer: You are cheap too. So your brokerage for not just 180 00:08:54,120 --> 00:08:57,880 Sean Aylmer: the Superhero Super, but Superhero product, your trading platform is 181 00:08:57,880 --> 00:09:00,190 Sean Aylmer: $5 for Australian stocks and $0 for the US. Is 182 00:09:00,190 --> 00:09:00,510 Sean Aylmer: that right? 183 00:09:00,780 --> 00:09:02,990 John Winters: Yeah. Correct. $0 for the US. So we don't like 184 00:09:02,990 --> 00:09:05,819 John Winters: to sort of think of ourselves as a discount broker. 185 00:09:06,040 --> 00:09:07,490 John Winters: We think we're a lot more than that. We've got 186 00:09:07,490 --> 00:09:10,520 John Winters: some pretty premium products on the platform. So we offer 187 00:09:10,520 --> 00:09:13,270 John Winters: the same sort of portfolio reporting that you would get 188 00:09:13,270 --> 00:09:15,320 John Winters: with a big platform if you're a high net worth 189 00:09:15,320 --> 00:09:17,670 John Winters: individual dealing with an advisor. So you get all the 190 00:09:17,670 --> 00:09:21,770 John Winters: consolidated tax reports. We do have $5 flat fee brokerage, which 191 00:09:21,770 --> 00:09:24,770 John Winters: at the moment is the lowest in Australia. And it's zero brokerage 192 00:09:24,770 --> 00:09:28,600 John Winters: when you buy Aussie ETFs and it's zero brokerage for 193 00:09:28,600 --> 00:09:32,209 John Winters: all US stocks. So we do see ourselves as being 194 00:09:32,210 --> 00:09:35,540 John Winters: low cost, high value and that applies to the super 195 00:09:35,540 --> 00:09:40,590 John Winters: fund as well. The average industry fund is circa over 1% 196 00:09:41,460 --> 00:09:44,510 John Winters: as sort of an all-in fee. Our fees are just 197 00:09:44,510 --> 00:09:47,480 John Winters: under half a per cent per annum. So we are able 198 00:09:47,480 --> 00:09:50,930 John Winters: to cut our costs significantly through the efficiencies that we've built, 199 00:09:51,110 --> 00:09:53,720 John Winters: leveraging the tech. So it all comes back to the 200 00:09:53,720 --> 00:09:55,850 John Winters: technology and the platform that we've got behind us. 201 00:09:56,140 --> 00:09:58,189 Sean Aylmer: Okay. So the obvious question is how do you make 202 00:09:58,190 --> 00:10:00,740 Sean Aylmer: money? Are you just that much more efficient? Is that 203 00:10:00,740 --> 00:10:01,360 Sean Aylmer: what that means? 204 00:10:01,600 --> 00:10:03,970 John Winters: Yeah. So it is, it all comes down to efficiency. 205 00:10:03,970 --> 00:10:07,310 John Winters: So we do actually make very good margins at $5. 206 00:10:07,960 --> 00:10:11,850 Sean Aylmer: Yeah. Which suggests everyone else at $20 is making really big margins. 207 00:10:11,920 --> 00:10:15,960 John Winters: Well, if we apply $20 to the volumes that we do, 208 00:10:16,040 --> 00:10:18,570 John Winters: we'd be pretty happy seeing the numbers roll into the 209 00:10:18,570 --> 00:10:21,959 John Winters: bank account. But no, look, there's solid margins at five bucks. 210 00:10:22,640 --> 00:10:25,610 John Winters: I sort of question why other platforms and major banks 211 00:10:25,610 --> 00:10:28,469 John Winters: and things aren't doing what we're doing, why they haven't 212 00:10:28,470 --> 00:10:31,610 John Winters: built their platforms the same way. When it comes to US, 213 00:10:31,610 --> 00:10:35,290 John Winters: we do offer zero brokerage on US trades. We don't 214 00:10:35,290 --> 00:10:37,429 John Winters: take payment for order flow, which is something that has 215 00:10:37,429 --> 00:10:40,570 John Winters: been in the media quite significantly lately about US trading. 216 00:10:40,830 --> 00:10:43,500 John Winters: We take a small FX fee when you move money 217 00:10:43,500 --> 00:10:46,830 John Winters: from Aussie to US Dollars. And then once it's in US, 218 00:10:46,830 --> 00:10:48,990 John Winters: you can trade as many times as you like with 219 00:10:49,040 --> 00:10:52,610 John Winters: zero brokerage. So it really is a low-cost model, but 220 00:10:52,640 --> 00:10:55,030 John Winters: we see it as a high value. So you get 221 00:10:55,030 --> 00:10:56,890 John Winters: a lot for what you pay for it rather than 222 00:10:56,890 --> 00:10:59,190 John Winters: just being a discount, no frills proposition. 223 00:10:59,460 --> 00:11:01,150 Sean Aylmer: We touched on this, do you think what you are 224 00:11:01,150 --> 00:11:03,830 Sean Aylmer: doing, and there will be people who come in the 225 00:11:03,830 --> 00:11:06,469 Sean Aylmer: market to mimic you and provide alternate products, do you 226 00:11:06,470 --> 00:11:10,099 Sean Aylmer: think that this will really disrupt that whole traditional super 227 00:11:10,100 --> 00:11:13,050 Sean Aylmer: fund model over the next 10 or 15 years? 228 00:11:13,290 --> 00:11:15,660 John Winters: Look, I think there's a number of people out there that they 229 00:11:15,660 --> 00:11:21,470 John Winters: don't know and respectfully probably don't care about managing their 230 00:11:21,470 --> 00:11:24,430 John Winters: money on a day-to-day basis. People are out there thinking, you know what? 231 00:11:24,430 --> 00:11:25,900 Sean Aylmer: You're talking to one. It's okay. 232 00:11:26,559 --> 00:11:28,740 John Winters: Yeah. It's just like, you know what? I'll just leave 233 00:11:28,740 --> 00:11:31,250 John Winters: it there. Someone else can manage it for me, which 234 00:11:31,250 --> 00:11:33,610 John Winters: is fine, but at least have a look at what 235 00:11:33,610 --> 00:11:35,300 John Winters: you're paying in fees. At least have a look at 236 00:11:35,300 --> 00:11:38,010 John Winters: the performance and make sure that you are in a 237 00:11:38,010 --> 00:11:41,250 John Winters: good performing fund. So if you're just going to sit it there, 238 00:11:41,250 --> 00:11:44,890 John Winters: go and... I mean, the industry funds have performed very well. They 239 00:11:44,890 --> 00:11:48,530 John Winters: do charge relatively high fees, but their performance is pretty solid. 240 00:11:48,990 --> 00:11:51,110 John Winters: There's a number of funds out there, whether it's a retail or 241 00:11:51,200 --> 00:11:53,700 John Winters: industry fund that you can get a good deal. So 242 00:11:53,740 --> 00:11:57,059 John Winters: our whole thing is make it an active choice on 243 00:11:57,059 --> 00:12:00,890 John Winters: where your super's invested. If you want the control, we 244 00:12:00,890 --> 00:12:03,740 John Winters: can offer that. You can invest in individual shares and 245 00:12:03,760 --> 00:12:06,490 John Winters: ETFs through us. You can set up a portfolio and 246 00:12:06,490 --> 00:12:10,179 John Winters: it'll auto invest for you through Superhero. So we just 247 00:12:10,179 --> 00:12:12,760 John Winters: want people to take action when it comes to super 248 00:12:12,830 --> 00:12:15,380 John Winters: rather than just sort of leave it there and get 249 00:12:15,380 --> 00:12:17,870 John Winters: to your mid forties or mid fifties and going, wow, 250 00:12:17,890 --> 00:12:20,969 John Winters: that's a substantial amount of money, but it's nowhere near what 251 00:12:20,970 --> 00:12:22,710 John Winters: I need for retirement. I wish I had looked at 252 00:12:22,710 --> 00:12:23,210 John Winters: it earlier. 253 00:12:23,720 --> 00:12:25,770 Sean Aylmer: John, thank you for talking to Fear and Greed and thank you for 254 00:12:25,840 --> 00:12:26,590 Sean Aylmer: being a sponsor. 255 00:12:26,780 --> 00:12:28,440 John Winters: No problem. It's great to chat, Sean. 256 00:12:28,530 --> 00:12:32,270 Sean Aylmer: That was John Winters, Co-Founder and CEO of Superhero. This 257 00:12:32,270 --> 00:12:34,500 Sean Aylmer: is the Fear and Greed Daily Interview. Join me every 258 00:12:34,500 --> 00:12:36,720 Sean Aylmer: morning for the full Fear and Greed Podcast with all 259 00:12:36,720 --> 00:12:38,949 Sean Aylmer: the business news you need to know. I'm Sean Aylmer. 260 00:12:39,690 --> 00:12:40,320 Sean Aylmer: Enjoy your day.