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Funds tap into Mercer advice service

Service records 50 per cent growth

By Christine St Anne
Thu 26 Aug 2010

Mercer is looking to boost its staff levels as more super funds move to adopt its advice services.


Investment consulting firm Mercer has secured about a 50 per cent take up of its advice service from superannuation funds in the past few months, according to Mercer head of outsourcing Sandy McCarthy.

The service includes web-based advice, telephone advice and face-to-face financial planning.

"We have had a very good uptake for our range of services. Industry funds are also taking up our advice offerings," McCarthy said.

"Many of these funds are looking for customised approaches to their advice service that are suited to the needs of their members."

Current clients include Media Super, NGS Super, Guild Super and Equip Super.

The service also provides superannuation funds with licensed planners.

NGS Super currently uses Mercer to provide its 82,000 members with advice services.

The fund recently announced it was looking to bring its financial planning model in-house by adopting a corporate authorised model with Mercer.

"Planners will work with us directly but be licensees under Mercer," NGS Super chief executive Anthony Rodwell-Ball said at the time of the announcement.

NGS Super has been using the Mercer service since September 2009 and has received 700 referrals, resulting in 600 appointments to engage advisers.

Mercer plans to boost staff following the spike in demand for its advice services.

"We definitely have plans to add more staff to our business as demand for our advice services continue," McCarthy said.

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