Mercer and Virgin Money Australia have developed a fully featured public offer superannuation product, Virgin Money Super.
The companies announced that the transfer of Virgin Super into Mercer Super Trust was completed today.
Mercer’s financial services business leader, Andrew Godfrey, said the deal was part of a strategic expansion of Mercer’s wealth business.
“It also provides a new opportunity for significant growth in Mercer’s superannuation business, opening up a direct to consumer offering and the potential for us to service the micro, and small-to-medium employer markets,” he said.
Also commenting, Virgin Money Australia chief executive, Greg Boyle, said the partnership brought together low-cost financial solutions and digital capabilities.
“We know super is complex, so Virgin Money Super allows customers to take as much control as they are comfortable with — you can create your own blend of investment options, or we’ll do it for you,” Boyle said.
