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
Financial advisers will have to pay around $10.4 million of the impending $47.3 million CSLR special levy but Treasury has expanded the remit to also include super fund trustees and other retail-facing sub-sectors.
Recommendations by the FSC around implementing a practicing certificate framework for advisers would be burdensome and add little value for AFSLs, according to SIAA.
The RBA has made its latest interest rate decision at the the final monetary policy meeting of 2025.
AZ NGA has acquired Sydney-based advice and wealth management firm Financial Decisions, allowing its CEO to step back and focus on providing advice.
