This week the Advisory team from Future Gen attended the 12 month anniversary of the amalgamation of QSuper and Sunsuper into the mega superannuation fund that is now Australian Retirement Trust (ART) managing over $234 billion of superannuation monies and now ranked 24th in global pension funds.
It has been a year since we were approached by ART regarding the amalgamation and providing advice to clients once the amalgamation was complete. Future Gen has always had clients who hold substantial Q Super accounts and Sunsuper accounts, so the success of the amalgamation was important to us and our clients. What we have found refreshing is the admission by ART that they are not in the “comprehensive advice market”. They intend to leave this to Financial Advisory firms like Future Gen that specialise in advice and strategy.
ART intend to further digitise their investment platform and amalgamate the Sunsuper and Q Super platforms together. ART will further work on building out their investment team and bringing inhouse specialist investment functions that were previously outsourced.
This fits well with the Future Gen investment philosophy. Future Gen is investment agnostic meaning we will work with any superannuation platform, as long as the underlying product is fit for purpose and is capable of providing the necessary investment and technology services that we require to provide and implement our advice solutions. The open architecture investment envisaged by ART is a step in the right direction and will further democratise the Industry fund superannuation space which has previously been a closed work space and difficult to work with.