Mercer compares non-retail funds
Industry, government and corporate superannuation funds have been included for comparison in an updated version of a Mercer Investment Consulting superannuation fund assessment service.
The firm’s principal David Carruthers said the service, named ‘Mercer >IS< Super’, did not give funds an overall rating, but rather compared funds based on factors including investment, insurance, fees and services offered.
“We rate the investment side of things, but the idea is that each investor is looking for different things in a superannuation fund,” he said.
Carruthers said the service was accessed through the company’s website and contained data on more than 100 superannuation products covering over 1,800 investment options.
Fund information was sourced primarily from product disclosure statements (PDS) and confirmed in some cases with the fund provider. Research was conducted by a global team of 40 full time staff who could update the service as funds changed their managers, PDS or investment options for example.
Carruthers said most of the current debate on superannuation fund comparison had centred on the relative merits of industry versus retail funds.
“This overlooks the fact that many employees will be choosing between two different industry funds, or indeed a corporate and an industry fund.”
He said advisers in Mercer’s financial planning arm and in other dealer groups that were Mercer’s clients had requested the expansion of the superannuation comparison service to include non-public funds.
He confirmed the service would be used by the company’s own financial planning business and AMP Financial Planning had also expressed an interest.
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
