Russell commits to limited financial advice

5 April 2011
| By Caroline Munro |
image
image
expand image

Russell Investments has committed to limited financial advice through the appointment of a head of its Advice Centre.

Steve Wright joins Russell from Sunsuper, where he worked as a senior financial adviser. Russell stated that the appointment was a result of significant changes to its member administration model, which saw it bring in-house over 75 roles previously outsourced to IBM.

Wright will be responsible for providing advice to superannuation members on investment choice, contribution strategies and transition-to-retirement strategies. His appointment demonstrates Russell’s commitment to the delivery of limited advice, according to director of administration and consulting services, Siva Sivakumaran.

“We firmly believe all members should have access to financial advice through superannuation and that Steve’s background and experience is a perfect fit for our model,” he said.

Russell also announced that AvSuper was the first to go live with Russell’s new administration platform, while Prime Super appointed Russell to deliver administration services to its 150,000 members — a partnership that will begin in January 2012.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Co...

1 day 19 hours ago

Demand from institutional investors was the main driver of growth in Australia’s responsible investment (RI) market in 2023, as the industry continued to gain momentum....

1 day 19 hours ago

In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges....

1 day 20 hours ago