Q&A with Fabian Ross on the WA Super merger with Concept One

We've achieved a significant amount in the last 12 months. What was most enjoyable for me, was setting the strategy for the fund and getting absolute buy-in from the Board, and our people. I've also enjoyed providing clarity around where the organisation is heading over the next five years. I feel we are all on the same page; the Board, the executives and our people. We're all focused on achieving great outcomes for our business and ultimately our members.

I've been fortunate to have been involved in a few mergers and acquisitions and I have to say that there haven't been too many unexpected challenges in this merger. The reason for this is because we had two willing parties who realised that this decision was all about being in the members' best interest. Like every project, we had some hurdles to overcome, but they were really minor and we were able to resolve them pretty quickly.

We were well resourced and had a well-constructed plan. I am very proud of the team who executed this successful project, and credit should go to Concept One's Chair, Ken Evans, and Paul Cahill, who stepped in as interim CEO; they did a terrific job.

Further mergers are certainly part of our strategy. When I arrived 12 months ago, I set my goal to be focused on growth. There are two streams of growth, organic and in-organic, so we are open to further mergers in the future, but they've got to be for the right reasons and it has to be a good fit for the members.

It's a good question and I think it depends on the fund itself. If it's a small fund, with a niche market and good cash flow, and if it can provide the right services at the right cost base to its members, then I think there is a place for them in the market.

I do think funds should always consider their member needs and growth opportunities, such as mergers, if it's the right fit for them.

It's all about communication. We need to ensure our new members understand the services we offer. We do this in a number of ways: welcome letters, out-bound calls and providing them with access to our intra-fund advice services. We also focus on the employer groups. Sometimes we can forget about the employers and the important part they play. We do workplace seminars with employer groups, lunch-and-learn sessions, one-to-many sessions - all of which are tailored to each audience group.

It's complimentary to our service proposition. When I came on board, my catchcry was all about providing the right advice, at the right time and in the right way. We need to be able to go through the value chain to provide financial advice to our members; from comprehensive to intra-fund and digital advice. Our exciting digital advice offer is expected to launch in May or June.

The convenience factor of this service is also really important. Some people are more comfortable receiving comprehensive advice face-to-face, while others prefer to be at home on the couch having a glass of wine with their partner and using our digital platform to find out how they're tracking. We're hoping this will be used by all our members, but we also understand that this is a platform that might appeal more to our younger member base. We all know there's a fair bit of apathy around superannuation, so anything we can do to help engage and educate the younger generation about their wealth management strategy is important.

We are adding two new members to our Board from Concept One, Ken Evans and Angela Briant, which increases our Board from eight to ten members. Out of our ten directors, six of them are independents.

We're not adding anyone to the executive team. The previous CEO left Concept One and Paul Cahill stepped in as acting CEO during the merger. We have welcomed four employees into the organisation from Concept One, at a non-executive level, to support the transition.

"I do think funds should always consider their member needs and growth opportunities, such as mergers, if it's the right fit for them."

We're definitely still focused on growth. We have a five-year strategy to continue to grow the fund. We're also focused on online opportunities and how we can be innovative. Strategically, we consider how we can delight the customer through customer-centric design and relevant products and services that meet the members' needs.

I'm also focused on our people. If we continue to develop our people, we will create a positive, effective working environment that will ultimately benefit our members.