Hans van Daatselaar, once a prominent executive at ASFA, along with David Delaney and Spiros Koziaris, have been appointed to drive this ambitious initiative. Van Daatselaar was instrumental in managing ASP Services, which oversees vital frameworks like SuperStream and Single Touch Payroll—elements consistently valued by super funds. This talent acquisition potentially challenges ASFA due to the trio's substantial expertise in these areas.
This recruitment underscores FSC's assertive approach, evident since it poached ASFA's former commercial director, Justine Earl-Smith, earlier this year. Earl-Smith now leads FSC's commercial partnerships and growth strategies, a role tailored to boost member engagement.
Historically, FSC has been a key player in representing retail-oriented super funds and wealth managers. However, the creation of a competitor to ASFA’s ASP Services suggests FSC's ambition to establish a more significant role within the sector as a systemic provider of industry infrastructure, especially by offering their services at no charge—not just to its members but to all super funds.
Recent additions to FSC's membership, such as industry super funds like Brighter Super and CareSuper, have seemingly motivated FSC's broader aspirations, though these memberships were somewhat serendipitous.
Meanwhile, ASFA, which traditionally positions itself as the peak body, faces membership challenges, with significant funds like MLC and Colonial First State exiting to adhere to their financial duties. Additionally, ASFA’s credibility has suffered amidst controversy over allegedly seeking to weaken cybersecurity regulations.
The scenario is complex, as both FSC and ASFA aim for the "peak body" status, representative of the whole superannuation industry rather than niche groups. However, internal divisions and the super sector's intrinsic diversity pose formidable obstacles.
As superannuation assets amass political attention, both FSC and ASFA understand the high stakes involved. Despite the challenges, the competition to achieve authoritative standing continues, against the backdrop of a segmented and sometimes politically charged sector.
