John Livanas

State Super, one of Australia’s largest and most trusted superannuation schemes, has acquired a 23% equity stake in Frontier Advisors, a leading institutional investment advisory firm.

This strategic partnership includes a seat for State Super on Frontier’s board, aligning the NSW public sector superannuation fund with other major shareholders – AustralianSuper, Hesta, Cbus and First Super. In an industry first, this acquisition will also facilitate the movement of State Super’s dedicated investment team inside Frontier to create a new Independent Chief Investment Officer, or ‘ICIO’ service, to best support members.

State Super CEO John Livanas said the collaboration between State Super and Frontier will provide members with continuity and security by retaining access to the technical skills of the specialist team already managing their funds.

“We have a great team of professionals managing our portfolio, and as State Super enters into a new transition phase, we’ve devised a solution to retain this valuable investment team so members who’ve entrusted their retirement savings to us receive a continuity of service,” Mr Livanas said.

This inventive solution will deliver greater opportunity for career growth and professional development for State Super’s dedicated investment team, ensuring continuity for staff and allowing the team to remain focused on doing what they do best, delivering great outcomes for members.

“For the Fund, it will be a seamless transition with our innovative solution that enables current advisers and investors to remain operating exactly as they have for over a decade, whilst providing staff a wealth of new opportunities. Our members report a high level of satisfaction, and we are pleased that we can secure this proven capability for State Super and our members into the future.” 

Frontier CEO Andrew Polson, said, “This arrangement ensures that State Super’s decumulation investment expertise remains unconflicted and continues to serve the best interests of its members. Frontier now has added capability and can provide investors with the benefit of retaining control over their own investment policy, strategy and portfolio construction while accessing institutional grade end to end investment services and to maintain our unconflicted advice model in the process.”

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Andrew Polson

For the eighth consecutive year Frontier Advisors has dominated the results for asset consultants in the recently completed Peter Lee Associates independent survey of Australian institutional investors. Frontier was ranked the sole outright leader among asset consultants in Australia and first, or equal first, across ten of fourteen individual metrics the survey ranked.

The Peter Lee Associates survey has been collating the thoughts and opinions of around one hundred Chief Investment Officers, Chief Executive Officers and other leading Australian institutional investors for over two decades and is the most highly regarded independent source of asset consulting evaluation in Australia.

In the all-important Relationship Strength Index, which effectively sums and weights the most important attributes respondents rate in their asset consultant, Frontier scored the highest mark of all firms. This is the eighth year in a row Frontier has been ranked first, or equal first, in the Index.

Frontier was also ranked first in nine of fourteen categories examined by the study, equal first in one and second in the remaining four. This included first in the likelihood to recommend, or ‘net promoter score’, also for the eighth consecutive year, and first in ‘quality of service’ for a record nine years in succession.

Managing Director of Peter Lee Associates, Sandhya Chand, noted that service continues to resonate with asset owners following recent years of pandemic challenges, ongoing return volatility and industry consolidation.

“Clients continue to value Frontier’s consultants and overall service and this year there is a greater recognition of the firm’s manager research. Frontier has been able to maintain strong recognition from its clients through recent market developments and bedding down a number of new clients,” said Chand.

Despite having the highest market penetration for the last four years, according to the survey, Frontier clients now make up more than one third of the asset owner universe thanks to continued client growth and broader industry consolidation.

Frontier CEO Andrew Polson is particularly pleased with the report card from investors. “This year’s results are close to the best the firm has ever received and that is a great endorsement. Obviously we are excited to yet again receive the highest overall score of any firm, but it is particularly pleasing to have such strong scores across every area measured, finishing first in most metrics but still second in the four areas we haven’t lead. Being able to provide quality advice and research across all areas, and for all types of clients, is vital for a business like ours and obviously valued by our diverse range of clients.

“In the face of recently onboarding a number of clients, to be able to maintain such strong levels of endorsement across the client base is incredibly pleasing, and humbling. And, a great reflection on our team,” said Polson.

“I think the fact we enjoy such strong and stable ownership, and maintain a firm focus on providing pure advice and technology, means we aren’t distracted by other factors relating to shifting business models or pressure to maximise revenue streams. That focus has helped us concentrate on what is important for our clients and their beneficiaries.”

A total of 89 individual asset owner organisations participated in this year’s study.

Frontier ‘number one’ results for 2023:

• Capability of consultant: 1
• Quality of service: 1
• Domestic manager research: 1
• Capital markets research: 1
• Digital research and analysis tools: 1
• Reasonable fees: 1
• Meeting agreed benchmarks: 1
• Risk assessment and advice: =1
• Advice on YFYS and regulations: 1
• Net Promoter Score: 1
• Relationship Strength Index: 1

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Claire Casucci

Frontier Advisors has been appointed as independent asset adviser to The University of Adelaide following an extensive evaluation process.

Frontier will work on the strategy, structure and monitoring of the University’s endowment fund which is used to fund research projects, prizes and scholarships. The University is a member of the influential ‘Group of Eight’ (Go8) which comprises Australia’s eight leading research-intensive universities.

Frontier was selected by the University for a range of reasons including the firm’s market leading reputation, an unconflicted advice model and Adelaide based staff.

“Frontier offers leading capability across the critical areas we need to consider in the stewardship of the University’s endowment funds. They have excellent knowledge of the university sector, a strong performance record and, as somewhat of an added bonus, their team will be led by a University Alumna”, said The University of Adelaide Acting Chief Operating Officer, Peter Prest.

The University of Adelaide is the fifth Australian university to appoint Frontier as its independent asset advisor, including fellow Go8 members, Monash University and the University of NSW. Frontier also works with Deakin University and the University of Tasmania.

CEO of Frontier Advisors, Andrew Polson, is delighted with the announcement. “It’s a tremendous privilege to work with the University to ensure the endowment fund can continue to financially support the progress of its students and strong commitment to research excellence.

“We’ve a growing client base in South Australia now, supported by our locally-based Senior Consultant Claire Casucci, so we’re excited to add The University of Adelaide to our stable of local clients and further our contribution to South Australia.”

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Although the formal business name remains Frontier Advisors Pty Ltd, the asset consultant will now be known simply as Frontier, rather than Frontier Advisors. The move has been made to reflect the expanded nature of their offering which extends beyond pure advice and, as the firm itself says, includes assistance in identifying opportunities and broader business strategy matters along with technology solutions to help inform decision-making and power internal teams analytical efforts.

The name, Frontier, is intended to represent what the firm aims to do for its clients in helping position their portfolios on the efficient frontier – the concept of reaching the location of the highest expected return for a given level of risk for that investor.

The new logo aims to mimic the shape of the efficient frontier and the distribution of possible risk and return combinations more broadly. The curves in the logo show movement and growth along a path rising from an origin form the letter F, for Frontier.

Frontier CEO Andrew Polson explains the basis for the new visual elements of the Frontier brand.

“We wanted all the visual elements of our brand to match what we believe our brand offers more broadly. At Frontier we roll our sleeves up and find new and creative solutions for our clients. We are modern and professional, yet approachable and modest. Confident in our place as Australia’s leading asset consultant.

“We are more than advisers. We work alongside our clients to uncover opportunity, identify and manage risk, deliver efficiencies and develop technology. We are business partners.”

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Newfield will join Frontier from competitor Willis Towers Watson where he has held the role of Senior Consultant for over eight years. Prior to that posting, Newfield spent twelve years at Mercer including a stint in their New Zealand Office, where he led Mercer’s retirement business and Chaired the Board of their trustee company. He is a qualified Actuary.

Frontier Advisors CEO, Andrew Polson, believes this latest, and most senior appointment in a series of new additions to the firm, will be positively received by the market. “Paul is a well-known and highly regarded consultant in the industry and someone known to be extremely values driven, which makes him a great fit for our organisation”, said Polson.

“This is a very important role with a primary focus on driving innovation and client alignment in our research program. Additionally, Paul will work closely with our global investment research alliance partners, and also provide input to our broader strategy and client relationships through his involvement as a member of our leadership team.”

Amidst increasing fund consolidation and shifting investor/adviser relationships, Newfield joins Frontier at a time when the firm has grown to its largest size, in terms of staff, clients, and funds under advice, and has been ranked the number one consulting firm in Australia for four successive years. Frontier is confident, given Newfield’s profile and reputation in the industry, that his addition to their ranks will boost the firm’s trajectory.

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Mr Polson joins MyState from ANZ Banking Group, where he held senior roles for eight years, including most recently Global Head of Investment Management and Implementation for ANZ Global Wealth. Previously he was CEO and Director of FSP Funds Management and Director of FSP Equities Management, and General Manager Investments for ANZ Private Bank and Trustees, including six months as Joint Acting Managing Director for ANZ Trustees. Before that, he held roles at IOOF Holdings and National Australia Bank.

MyState’s Managing Director and Chief Executive Officer, Melos Sulicich, said: “It is a pleasure to welcome a senior executive of Andrew’s calibre to our executive team. He is highly regarded in the wealth management industry for building business through strong leadership and innovative product strategies, and we believe he will make a significant contribution to our growth.”

Mr Polson holds a Master of Management (Marketing) from The University of Melbourne, Melbourne Business School, and a Bachelor of Commerce from La Trobe University.

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