Two more superannuation funds being administered by Mercer have adopted the digital advice solutions option provided by Decimal Software.
Mercer and Decimal announced to the Australian Securities Exchange (ASX) that GuildSuper and Child Care Super had opted for the advice solution.
The announcement said that as part of the Mercer Next-Generation platform, both funds would have access to Mercer’s digital solution.
Confirming the arrangement, Mercer chief customer officer, Campbell Holt said the Decimal solution was being offered as standard to superannuation administration clients on Mercer’s next-generation digital platform.
Mercer has used Decimal technology for phone advice since 2013 and more recently implemented Decimal’s Eqilize digital advice solution.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
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ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.