SuperEd and Retirement Essentials merge

In a joint statement, the advice firms announced that the merger had also resulted in two new service offerings for both superannuation funds and consumers.

Retirement Essentials has a ‘concierge service’ that guides retirees through Centrelink’s age pension application process.

The merger will see SuperEd utilise Retirement Essentials’ insights into the user experience in order to bolster its B2B service for super funds.

Furthermore, Retirement Essentials founder Paul Rogan will become co-chief executive of SuperEd alongside co-founder and managing director Hugh Morrow, the statement said.

Mr Rogan, who will remain Retirement Essentials’ chief executive, will assume responsibility for SuperEd’s advice operations, sales and marketing, while Mr Morrow will oversee technology, platform and client outcomes.

“When founding SuperEd, we had planned to develop a direct-to-consumer channel that could help cater to the ongoing advice needs of everyday Australians to complement the wholesale solution we provide to institutions,” Mr Morrow said.

“Merging with Retirement Essentials accelerates those plans and positions us strongly for future scale and growth,” he said, adding that the two firms shared a vision of providing accessible, affordable “independent financial services” for “everyday Australians”.

“This places us at the cutting edge of digital advice solutions in Australia at a time when the major banks are divesting their wealth management solutions, independent advisers are ramping up their investment in innovation and super funds are stepping up to the challenge of delivering affordable financial advice to millions of Australians.”

Mr Rogan commented, “Retirement Essentials is now preparing to scale up our Age Pension Concierge offering and fulfil our purpose of providing everyday Australians with accessible and affordable financial advice.

“To that end, we are in advanced discussions with several membership-based organisations interested in making our service available to assist their senior members.”