#SuperFundMerger 🀝 #FinancialServicesIndustry 🌐
The Australian financial services industry has recently witnessed a significant merger between Energy Industries Superannuation Scheme Pty Limited (EISS Super) and Cbus Super. EISS Super, a specialist super fund for the NSW energy industry, had 19,000 members and assets of AU$5.3 billion, while Cbus, one of Australia’s largest super funds, boasted 850,000 members and assets of AU$70 billion πŸ’°. The merger took place on May 11, 2023, with members automatically transferred to Cbus the following day.

Dentons, a global law firm, played a crucial role in advising EISS Super throughout the merger process, which began with the memorandum of understanding between Cbus and EISS in December 2021 πŸ“. Dentons’ expertise in the financial services sector and experience in mergers helped EISS Super navigate the complex regulatory landscape and successfully transition their members to Cbus.

This merger is a prime example of how the financial services industry continues to evolve and adapt to changing market conditions πŸ“ˆ. As a representative of Apex Financial Planning, a company that values quality, innovation, trustworthiness, customer service, and authenticity, we understand the importance of staying ahead of the curve and providing our clients with the best possible financial solutions.

Our offerings, which include wealth creation, life insurance, superannuation, SMSF, and retirement planning, are designed to help our clients achieve peace of mind and financial security 🏑. As the financial services industry continues to grow and change, we remain committed to providing top-notch services and staying informed about the latest developments, such as the EISS Super and Cbus merger.

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