After we published our deep-dive analysis of Spaceship super recently, we received emails suggesting we should look more closely at their trustee arrangements. This week, the Fairfax press outed the story in an article called "The secret war brewing in Millennial super". Apparently, among fintechs, it's well-known that Spaceship is "locked in an impasse with its back-end compliance and administration provider, Trustee Partners". Outsourcing its key regulatory and administrative requirements allowed Spaceship to launch quickly, but superannuation is not like a game app. Managing a person's life savings is a serious business, and the Fairfax report opened a web of intrigue.
Editorial | Edition 213, 4 Aug 2017