ESSSUper has appointed Frontier Advisors as its asset consultant, replacing incumbent adviser Willis Towers Watson after nine years.
Frontier has commenced a three-year contract to provider advice on ESSSuper’s defined contribution portion, which accounts for around $6 billion of the fund’s holdings.
The Melbourne-based fund administers around $30 billion of retirement savings on behalf of 132,000 Victorian emergency services and state employees.
Frontier reported ESSSuper had become the 17th super fund in its client base and the fifth client to join the firm in the last 12 months.
Frontier chief executive Andrew Polson said while the industry has been rapidly evolving, his company has still been able to grow its client base and attract well-credentialed professionals into its team.
“Although around 40 per cent of our clients now come from outside of the superannuation sector, working with superannuation fund members as our end client remains a key part of why we operate,” Mr Polson said.
“Our heritage lies in industry superannuation, our team is highly experienced in the field, and indeed, many of our consultants have operated in the superannuation space for 20 years or more.”
Frontier provides advice to institutional investors across the superannuation, charity, public sector and higher education sectors, reporting that its clients collectively manage more than $320 billion.
ESSSuper chief executive Mark Puli said the company was selected following a market review and tender process over the first half of this year.
“Frontier led the field in virtually all of the measures that are important to us as a public sector fund that operates on behalf of our members,” Mr Puli said.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.
You can contact her on [email protected].
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