Russell Investments will launch new corporate superannuation services that will help employers offer limited advice to members and develop MySuper default options.
 
The expansion of Russell's corporate super services is supported by an increase in resources for the corporate super team.

Russell has appointed Geoff Peck to the newly-created role of corporate superannuation managing director.

The firm said it would also recruit for additional hires in its corporate superannuation business.

The new limited advice services for corporate plans would resemble intra-fund advice in industry super funds, Peck said.

"[It] allows members to get advice around their own circumstances as it applies to the fund that they are in. It can be a little bit more specific around what investment options will suit them and what insurance arrangements will suit them," he said.

"It will help employers tailor the fund to members with the solutions that are available within that fund."

He said the MySuper services would focus on developing a low-cost, easy-to-understand default option.

Russell will also look to develop services that are focused on improving how members interact with their providers.

"We want to rethink the way member services are delivered. It is focused on member outcomes at different stages of their retirement journey," Peck said.  

"It obviously looks at investment outcomes, but it also looks at the way they want to deal with the superannuation investment services provider and the engagement they want to have.

"We think that extends through different generations, because of the long-term nature of the investments, and different generations have different regards to their providers."
 
Peck was previously Russell government and institutions managing director and he will remain responsible for this area until a replacement is found.

"We are looking for a new managing director for the governments and institutions business," he said.