Asgard wins corporate super business
Asgard’s corporate superannuation business has pulled off a big victory in the lead up to choice of fund, becoming the default superannuation provider for Ernst & Young’s 3,500 Australian staff.
Asgard’s win, which came after a tender in which it beat 30 other providers, takes its corporate super funds under management to $1.5 billion, representing a growth of 32 per cent since January 2004.
The chief executive of Asgard’s parent Sealcorp, Geoff Lloyd, said recent improvements to the Asgard platform was helping it win corporate business.
“Asgard offers portfolio options, which have been performing extremely well, as well as individual funds to complement these. This selection, along with the significant investment we have made in our administration platform and Employer Online system, means we cater for a broad variety of investors and superannuants — from those who seek a ‘set and forget’ investment strategy, to those wanting a more active selection,” he said.
Ernst & Young will retain ING as its insurer. ING was ineligible to contest the super contract, because its existing audit and fund manager relationship with Ernst & Young disqualified it under the accountant’s conflict of interest rules.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
