Frontier Investment Consulting has hired Victorian Funds Management Corporation’s head of client services as an additional senior consultant.
Edward Smith will commence with Frontier early this month, after a tenure at VFMC in which he was director of the client services team and also performed investment consulting for some smaller clients of the Victorian Government-owned funds manager. Prior to VFMC, Smith ran investments for New Zealand’s Trust Investment Management, and was also a director in Frank Russell’s office across the Tasman. Frontier managing director, Fiona Trafford-Walker, said Smith would help Frontier expand its research efforts. The consultancy has benefited from its refusal to offer implemented consulting products, with its ‘pure’ reputation helping it to $95 billion in funds under advice at last count. VFMC chief executive, Syd Bone, was on holiday and unavailable to comment at presstime.
Insignia Financial has shifted to outsource administration of its $180 billion superannuation assets, inking a deal with SS&C and reassigning 1300 workers to the service provider during the process. The decision stands in stark contrast to peers such as Aware Super, which recently internalised member services, but CEO Scott Hartley said that option is a “costly exercise”.
Darcy SongDecember 10, 2024
