Rice Warner, the consulting firm, has hired Mark Blair as head of its superannuation consulting business in Australia.
Blair has worked at investment-fund advisory consultants such as Pillar, Russell and
He has been hired in response to demand from Rice Warner’s superannuation fund customers for advice on strategy and product.
“Mark will enhance Rice Warner’s ability to service its clients at this time of regulatory turmoil,” says Michael Rice, chief executive of Rice Warner, in a statement.
The Australian Government is seeking to par costs at superannuation funds, wanting to drop the average cost per member to about 66 basis points, according to analysts at Chant West.
Compulsory superannuation contributions will rise to 12 per cent from 9 per cent, putting yet more money into pension funds that already have about $1.3 trillion in assets under management.
Rice Warner has about 35 staff.
The Sydney-based firm was founded in 1987 by Michael Rice.
It also has offices in Brisbane and Melbourne.