Co-ordinating your financial game plan
David Anderson
Mercer WealthSolutions have added a personalised financial planning advisory service as a critical element to its new transition to retirement allocated pension offering.
Mercer WealthSolutions head David Anderson said financial advice was particularly important for pre-retirees, who needed to navigate complex investment decisions, social security, insurance, estate planning and superannuation.
“People need help co-ordinating all the pieces of their financial game plan. In March 2007, Mercer conducted a survey on Better Super among a random sample of 300 working Australians aged 50 plus. Nearly three in four were unable to articulate any changes and only 18 per cent mentioned the tax-free access to super at age 60. Less than half (49 per cent) were aware of allocated pensions. So bundling the Transition to Retirement Allocated Pension with member education and advisory services makes a lot of sense,” Anderson said.
The transition to retirement pension means Mercer’s super fund members will be able to draw an income from their super without having to retire permanently.
According to Anderson, the key difference of Mercer’s offering was the value adding member services.
“This includes access to immediate limited financial advice over the phone, comprehensive financial advice face-to-face, financial education through seminars, webinars and podcasts, 24/7 online access to personal accounts and regular printed communication. Our product sets a new market standard for member empowerment and support,” he said.
Mercer’s transition to retirement product is currently available to new and existing Mercer Super Trust members, with a minimum balance of $10,000.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
