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Energy Super advice arm signs with retail research provider
The financial planning arm of industry superannuation fund Energy Super, ESI Financial Services, will use retail managed funds research provided by Zenith Investment Partners, replacing Standard and Poor's which withdrew from the Australian market late last year.
ESI Financial Services manager for advisory services, Neil Purcell, said the research was for the use of the advisory business only, and Zenith would not be providing research to the institutional investment business of Energy Super.
Purcell said the advice group had five planners and operated as a boutique advice business, providing advice on Energy Super as well as on superannuation and investments held by fund members outside the fund.
"Our clients have investments in outside entities and funds, and under the Future of Financial Advice and Stronger Super reforms we require more rigour in how we examine and select what we can offer to them," Purcell said.
Zenith's research will be used to examine Australian-based managed funds alongside Mercer research, which will be used to examine global investments. Chant West and Super Ratings will be used to examine superannuation vehicles at the macro-level, according to Purcell.
Zenith supplies model portfolios to its clients. Purcell said ESI Financial Services had not yet decided to pick up this service from Zenith, but might consider it at a future date.
"The main use of the Zenith research will be to strengthen our sector reports and provide a broad view on managed funds available to our clients. It will provide another opinion and add more rigour into the financial planning process we provide," Purcell said.
AUTHOR
Jason Spits
Jason has been writing on financial services since 1999 and has worked for on a number of trade media titles in both a full time and freelance capacity. He joined Money Management and Super Review in 2013 in the role of Senior Journalist.
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