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Mercer picks up Virgin Money mandate
Mercer has picked up a key administration mandate – Virgin Money Australia.
Virgin announced the mandate today saying it has ambitious plans to enhance its superannuation offering and introduce a number of market leading benefits for individuals in Australia.
Commenting on the move, Virgin Money Australia chief executive, Greg Boyle, said the company was excited about the potential for disruption given the convergence of wealth and banking in the market.
According to Mercer, Virgin Money Australia will be the first new client to experience Mercer's upgraded customer and administration platform which includes custom built analytics and digital technologies to enable customers to compare, forecast and interpret their current situation and take appropriate action.
Mercer will commence services for Virgin Money's Super Fund from the end of 2015.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Virgin have consistently failed to deliver on their promise. I was told by Customer Service that "legally Virgin had to payout my Super by 1st January 2016" Since then I have been given a merry-go-round of poor service and inconsistent stories. I have lodged formal complaints and have received the unsatisfactory information since January. An example of Virgins shoddy and inconsistent advice is:
In response to my initial complaint Virgin claimed to have reviewed all my correspondence with Virgin. In response I received an error filled letter that did not address my concerns and so I requested the transcripts of telephone calls so I could verify the issues, then following excuses flowed:
first: Virgin can not find them
then: I was told no calls were made
and when I provided dates and times of the calls: I was told Virgin will not provide them
Terrible service, terrible company - bad enough for a financial service firm - I would hate to know how they cut costs on flights
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