With superannuation funds starting to erode for the first time in years, the Financial Planning Association (FPA) has urged fund customers not to panic.

Chairman Julie Berry says while first-half statements will cause concern for many super members, it is important to ride out the current climate and prepare better for the future.

“There is a great deal of volatility in the financial markets at present, but investors should be cautious about knee-jerk reactions to the most recent quarterly super results,” she said. “If anything, the turnaround should encourage Australians who are not getting professional financial advice to go out and get it.”

Ms Berry says seven out of 10 Australians do not see a financial planner, and super fund members should bear in mind it is a long-term investment.