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
Clime’s disposal of advice licensee Madison “needed to happen yesterday”, managing director Michael Baragwanath has told Money Management, as he concludes a severe cost-out period at the business.
As Viola Private Wealth continues on its growth trajectory, the wealth management firm has appointed a seasoned investment professional to be its first chief investment officer.
Financial advisers who wish to implement artificial intelligence in their practices need to undergo a change in their mindset as to how they use technology.
With United Global Capital expected to constitute a substantial portion of CSLR compensation in FY25–26, what has AFCA ruled in its determinations on the company so far?
