Legalsuper
From Wikipedia, the free encyclopedia
Legalsuper is the industry super fund for Australia's legal profession. Although having public-offer status (meaning that anyone can join) it is essentially members of Australia's legal community that use legalsuper.
legalsuper commenced in February 2005 following the merger of the respective Victorian and New South Wales legal superannuation funds.
legalsuper now provides membership to approximately 36,000 Australians working in predominately in the legal sector. Estimates vary but the legal profession is estimated at 120,000 nationally.
With the legal community targeted by financial planners and accountants legalsuper's competitors include retail funds, in particular master trust platforms, and self managed superannuation funds.
The company has assets worth more than $765 million. A recent merger with the NSW Barristers Fund increased net assets by approximately $35 million.
A team of staff is located in Victoria and New South Wales.
As per other industry funds legalsuper is managed exclusively for the benefits of its members. The company pays no commissions to sales agents and there are no shareholders to receive dividends.
