Aust Ethical selects Russell
Russell Investments has received a mandate from Australian Ethical to deliver administration services to the fund's 14,000 members.
The two companies said the partnership would come into effect in March next year.
Russell said the mandate would increase the company's members under administration to 355,000.
According to Australian Ethical Super, a key determinant in handing the mandate to Russell was the company's focus on member services and the use of modern and scalable technology.
"The fact we will be able to provide members with best practice innovative services through a more competitive cost structure is very compelling," Australian Ethical chief executive Phillip Vernon said.
Russell said the mandate followed on from the company's successful implementation of Prime Super's administration services, involving 135,000 fund members and 40,000 employers.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
