“We estimate that the excess fees and charges and underperformance in super is about $12 billion a year,” RMIT University Associate Professor Michael Rafferty told the ABC.

“In other words, the rip-off in wealth management is about three to four times the rip-off in banking.”

via Banking royal commission: It could get a lot worse for the banks as the focus turns to superannuation – Analysis & Opinion – ABC News (Australian Broadcasting Corporation)