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The top concerns from superannuation members regarding super fund mergers is around potential fee increase, underperformance, and changes to customer service levels, according to Investment Trends.
“[It was] creating a new entity and determining who were the best people for it in terms of capability and culture,” Doyle said. “For example, mergers result in two potential chief executives, CFOs [chief financial officers], other C-suites and range of management and teams. How does the new entity decide whom is the best? “It is no longer appropriate to simply offer redundancies and see who takes it and who remains. The people merging process has to become much smarter, much more transformative.” Adam Salzer, Whitewater Transformations executive chair, said funds spend a great deal...