The National Australia Bank/MLC brand has the highest value of all Australian retail superannuation providers based on an analysis of its members, according to Roy Morgan Research.
The research company looked at data of more than 30,000 clients, using criteria including satisfaction with financial performance, gains from switching, composition of customer base and sales levels through financial planners.
NAB/MLC came out on top, because it has the customer base with the highest personal income at $58,600 on average, and the largest proportion of high value customers.
It also scored well on gains from people switching superannuation, and had a high proportion of customers contributing to their fund beyond the compulsory level.
"Of the major banking groups NAB has the greatest potential to cross-sell because a higher proportion of its customers have superannuation compared to the other major banks," Roy Morgan Research industry communications director Norman Morris said.
But an area of weakness for NAB/MLC was the satisfaction of members with its financial performance, Morris said.
The group ranked only fourth among retail funds, behind industry funds Commonwealth Bank of Australia and St George.
CBA/Colonial First State had the best score in member satisfaction with financial performance. The group was ranked second in overall brand value.
Not surprisingly, self-managed super fund members were most satisfied with the financial performance of their fund, with an overall satisfaction level of 80 per cent.
"With increasing public availability of fund performance data likely in the near future, all superannuation providers are likely to come under greater scrutiny from members to perform," Morris said.
