Heron Gets off to Flying Start

Newly launched super consultancy The Heron Partnership already has three institutional clients, 9 corporate trustee board clients and is in meaningful discussions with at least 10 more prospective clients, according to Heron founder Chris Butler (pictured). The firm was formed when former NSP Buck deputy chief executive Butler branched out with two other former NSP Buck executives, John Smith and Wendy Barton, just five weeks ago.

"We've been delighted with our response in the market place," Butler said.

Heron yesterday launched a service - called the Heron Vantage Program - whereby it will negotiate on behalf of its client with existing consulting and administration providers for a cheaper deal where possible.

"We identify the potential [for a saving] and we then negotiate on their behalf with their providers and we only change a fee if we achieve a saving," Butler said.

Heron will sometimes do some of the consulting themselves and will consider instructing a client to diversify administration and consulting services if a conflict of interest is perceived.

According to Butler some superannuation clients are starting to feel disgruntled with the level of service received from their consultants. "We found a level of disillusionment in the market about some of the major consultants. Many of the clients are concerned about not being loved," he said.