Marsh McLennan, a reputable professional services firm dealing in the areas of risk, strategy and people, recently announced that its Mercer business completed the merger of BT Super into their Mercer Super Trust, creating one of Australia’s most competitive super funds.
What does this merger mean for Mercer?
Mercer recently also announced the transaction and the completion of the acquisition of Advance Asset Management Limited, further expanding its capability as a leading investment multi-manager within Australia. The Mercer Super Trust is now one of the 15 largest funds in Australia with approximately 850,000 members and $63 bn total assets under management.
Mercer is one of the world’s leading retirement advisors and investment managers with $345 billion of assets under management and $16.5 trillion of retirement assets under advisement.
Members of the merged Mercer Super Trust also will have access to additional benefits and support services including Care & Living with Mercer as well as complimentary professional limited financial advice as it relates to their superannuation. Many members of the merged Mercer Super Trust will benefit from the newly introduced, meaningful fee reductions as well.
What are the executive remarks of the BT Super merger?
David Bryant, Chief Executive Officer, Marsh McLennan Pacific and President Mercer Pacific, said the merger will transform the superannuation sector for the benefit of Australians.
“Redefining retirement and preparing for the new economy of longer lives is a priority for Mercer and our clients. We take a meaningful step in our journey to build brighter financial futures and are pleased to offer hundreds of thousands of Australians increased investment choices and enhanced member experiences,” said Martine Ferland, President and CEO, Mercer.
“We promised members that we would deliver to them a market-leading offering in terms of benefits, performance and pricing. We are now delivering on that promise,” Mr. Bryant said.
“Leveraging our global scale and the insights of our team of approximately 2,000 investment professionals around the world, Mercer Super members will benefit from being part of one of the most competitive and convenient super funds in Australia, and this is only the beginning.”