Australia’s superannuation industry, under the Banking Royal Commission the spotlight, will be fine-tuned as it enters its next stage of growth and development. The recent Mercer Global Pension Index (2018) ranks the Australian system 4 out of 34 countries for integrity in the system.
The importance of the critical role of the superannuation trustee is a priority for maintaining integrity in the system.
Equity Trustees’ business focus in the Superannuation arena has evolved over the years, with the purchase of Wealthpac Australia Limited in 2003 (later renamed ‘Equity Trustees Superannuation Limited’ (ETSL)) and launching the offer of specialised superannuation trusteeship.
Company names aside, the service is an integral part of the 130-year-old Equity Trustees brand and the company-wide vision to be Australia’s leading specialist trustee company.
A decision to focus exclusively on our core strength as a trustee and its application in the highly complex and regulated environment of superannuation saw Equity Trustees exit the service of acting as administrator to superannuation funds in 2015.
Today our core business focus is to act as trustee of superannuation funds sponsored by employers and other entities - including corporate super funds as well as public-offer superannuation master funds. We have experienced significant growth as the importance of an independent, specialist trustee becomes increasingly highlighted.
Mark Blair, our General Manager Superannuation Portfolio Services, explains: “In large organisations it’s difficult to exercise independence and is often easier for a company to outsource this key function”.
“It’s our core brand values of trust and independence that adds to our competitive advantage – we bring that reputation to the table for the funds that engage us. With 130 years of history, we are compelling as a trustee with strategic longevity and stability.”
Mark’s team is growing to reflect the demands of clients and the growth in the business: “I look at what has happened over the past couple of years and I can definitely say, from small acorns mighty oaks have grown! In 2010 we had about five staff in superannuation. Now our team has grown to 18 and is still growing. We are managing larger, more sophisticated clients – and our team is changing to reflect this.”
“Our people and our history make us who we are today. Our brand is compelling, solid and stable,” Mark concludes.
Still strong, 130 years on.