Frequently asked questions about our brand change
- 1. Why are StatePlus and First State Super changing brand?
- 2. Why did we pick the brand Aware Super?
- 3. What happens to all the materials with the old name and logo - will all of this just be thrown in the bin?
- 4. I don’t like the brand. Why did you pick it?
- 5. Were clients consulted in the choosing of the new brand and any other brand decisions, such as the logo?
- 6. How is the brand change affecting me?
- 7. Will your advice offer change?
1. Why are StatePlus and First State Super changing brand?
StatePlus was acquired by First State Super in 2016. Now it’s time to consolidate our two brands under a single new brand Aware Super.
We will also be changing our name from State Super Financial Services Australia Limited (trading as StatePlus) to Aware Financial Services Australia Limited.
First State Super began as a public sector fund in NSW for government employees. Today it’s an industry fund, serving members from a variety of industries in both the public and private sectors across Australia.
Currently we’re managing two brands under the First State Super banner – First State Super (our super fund), StatePlus (our advice business) - and we have 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).
2. Why did we pick the brand Aware Super?
It’s a brand that reflects who we are and who we strive to be in the future. It’s a brand we chose together in consultation with many of our members and it's a brand 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 fees1 and receive strong long-term performance2, without compromising on the integrity of the way we invest.
- Members access their super through our intuitive award-winning3 app, over the phone or face to face via our dedicated service teams in 68 locations.
- Members benefit from easy access to a comprehensive range of quality financial advice and education services.
- Members’ assets are invested to improve our communities, build a sustainable economy and support employment both locally and globally at the same time as achieving strong long-term returns2 and delivering strong retirement outcomes.
Aware Super is simply a brand for who we’ve always been.
3. What happens to all the materials with the old name and logo - will all of this just be thrown in the bin?
As we roll out our new brand and name, we will minimise waste by running down stock and replacing with new stock as required. We will also be recycling or reusing assets that can’t be run down.
4. I don’t like the brand. Why did you pick it?
Brand names can be subjective, so we established criteria that our brand needed to meet. It needed to be aligned to our purpose and our brand promise. It needed to be legally distinct and available. Finally, it needed to reflect the type of brand that members, clients and the market want.
When we engaged with members and clients across the country, they told us that they want our future brand to reflect what we do and the difference we can make – to them and their communities. Aware Super tested very well and met all three criteria.
5. Were clients consulted in the choosing of the new brand and any other brand decisions, such as the logo?
Clients, members, potential members and colleagues were engaged throughout the work we did to establish our new brand and positioning. Our choices and direction reflect their feedback and have been validated continuously 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.
6. How is the brand change affecting me?
While our brand 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 feature our new logo.
- All financial planning information will move to the new Aware Super branded website which will replace the current StatePlus site.
- Our member service centres and advice offices will feature new signage to reflect our new brand Aware Super.
7. Will your advice offer change?
While we have a new brand, our advice offer won’t change. We will continue to offer specialist advice services, such as expert advice on defined benefit schemes and retirement planning.
If you have a financial planner, your relationship with them will remain the same.
1 The total First State Super annual fee (inclusive of admin and investment fees) for the 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.
2 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.
3 The First State Super app was awarded Gold at the 2019 Sydney Design Awards for the category Digital - New Service or Application.
State Super Financial Services Australia Limited trading as StatePlus (ABN 86 003 742 756 and AFSL 238430) is wholly owned by FSS Trustee Corporation (ABN 11 118 202 672 and AFSL 293340) as trustee of the First State Superannuation Scheme (ABN 53 226 460 365). This information is of a general nature only and is not specific to your personal circumstances or needs. Before making any decisions based on this information you should consider its appropriateness to you. Every effort has been made to ensure the information contained in it is accurate. We strongly recommend that you consult a financial planner before taking action based on this information.