Frontier’s history can be traced back to 1994 via the establishment of an asset consulting group within Industry Fund Services (IFS). In 1999, the IFS Board decided to spin off its investment consulting business into a new and separate company, Frontier Investment Consulting. This move was undertaken to remove any possibility of conflicts of interest that arise when a firm provides both investment advice and investment products.

Frontier was subsequently established in July 2000, and has been a completely separate entity from that time.

Frontier remains an independent entity with no parent company, subsidiaries or affiliated businesses. Frontier has four shareholders: AustralianSuper; Construction and Building Unions Superannuation
(Cbus Superannuation); Health Employees’ Superannuation Trust Australia (HESTA); and FIRST Super.

Frontier's Board of Directors includes an independent chairman (Geoff Ashton), two executive directors (Fiona Trafford-Walker and Kristian Fok) and a non-executive director nominated by each shareholder. These are Don Good (HESTA), Ralph Willis (Cbus), Michael O'Connor (FIRST) and Gabriel Szondy (AustralianSuper). The Company Secretary is Gary Sward.