ASIC warns about superannuation cold calls…

The Australian Securities and Investments Commission (ASIC) is urging consumers to be cautious when receiving calls from unknown numbers. Cold callers often employ high-pressure sales tactics to convince people to buy products or sign up for services. These tactics include exaggerated claims, emotional manipulation, and creating a false sense of urgency. If you receive a call from someone you don’t know, remember that you can simply hang up.

Be wary of social media posts that question the performance of your superannuation fund or encourage you to compare funds. Similar to cold callers, some businesses use pushy sales tactics on social media. To avoid getting hooked, scroll past these posts or adjust your social media settings to see less of them.

Quality financial advice typically takes weeks, not days. Avoid rushing your decision-making process due to pressure from cold callers or social media.

 

 

 

All information was sourced from moneysmart.gov.au with the aid of copilot.