Superannuation consultant Mercer has acquired ExtraTextual, an online e-compliance and risk management company.
A Mercer statement said the acquisition would help superannuation clients monitor and report on compliance with legislative requirements.
The acquisition follows a "long business partnership" between Merver and ExtraTextual, the statement said.
Head of Mercer's retirement and investments business, Graeme Mather, said the acquisition is a "logical move for both parties".
"In an industry where change is constant, the time and cost associated with compliance is always increasing. The changing legislative environment can expose [superannuation] funds and their members to compliance, market and operational risks," Mr Mather said.
"Our compliance solution provides the necessary and comprehensive checklists with an overlay of legislative content that allows our clients to focus on value-add areas, rather than interpreting complex legislative change."
Mainstream Holdings Group has told shareholders it will be consolidating its underperforming superannuation services division into its funds...
Superannuation experts have urged the government to give a broader scope to its retirement system review as the current system has too many ...
New legislation that attempts to close a loophole estimated to cost Australians $1.5 billion in superannuation contributions annually has no...