Online superannuation fund Max Super has appointed Financial Synergy to provide administration services.
As well as giving Max Super access to its administration software platform Acurity, the alliance means Financial Synergy will be responsible for investment reporting, call centre services and distribution of member communications.
According to Andrew Barlow, chief executive of Max Super, the partnership decision was made because of Financial Synergy’s industry experience, diverse client list and systems-based approach. It was also based on the companies’ shared philosophies regarding customer service and friendly ‘Max’ style.
“Financial Synergy is a dynamic Australian company and shares very similar business philosophies to maxsuper.com.au, so we are absolutely delighted about our relationship going forward,” Barlow said.
Financial Synergy managing director David Orford expressed similar enthusiasm at news of the decision: “Working with maxsuper.com.au presents an exciting opportunity for [us], as they are as determined as we are to deliver superior customer service.”
Super funds have recorded modest gains in September as global equity strength and an AI-driven rally lifted investment returns.
ASIC is seeing an increase in misconduct exploiting superannuation, it stated in its latest annual report.
The super sector has welcomed the government’s payday super legislation, calling it a landmark step for fairer retirement outcomes.
The regulator has ordered super trustees to strengthen oversight of platform investments after member losses from failed schemes exposed governance weaknesses.