As of Friday, all WA Super members are part of Aware Super, Australia’s second-largest industry superannuation fund.
As a result of the amalgamation, Aware Super has gained 60,000 members in Western Australia and an office in Perth; the former WA Super headquarters.
Deanne Stewart, chief executive of Aware Super, said the fund was pleased to have finalised the merger, despite the logistical challenges created by the pandemic.
With the deal complete, the fund is focusing on building its local presence and service and support offering for WA members.
“As we expand our footprint in WA, we look forward to exploring further opportunities to invest in the state and continuing to provide our members with exceptional local service and support led by our new WA state manager, former WA Super chief experience officer Quyen Truong,” Ms Stewart said.
Aware Super has reported the merger will deliver increased support and service hours for all members, as the WA Super service centre is integrated into the fund’s telephone member service centre.
“This means that in future our members nationally will have access to this important service through the full span of WA and east coast business hours,” Ms Stewart said.
“We are also committed to leveraging our size and scale to access a more diverse range of investment options, including in WA, to provide our members with strong, sustainable long-term returns while being a true force for good in their community.”
The move has occurred following Aware Super’s consolidation with VicSuper in July.
FPA members should be asking how much influence and financial backing both in memberships and money does AwareSuper pay the FPA to quote “help shape the future direction of financial advice in Australia”.. Good luck trying to compete with the interests of AwareSuper Mr and Mrs Financial Planner.