Ignition Wealth has launched its robo-advice platform after working and learning from industry superannuation funds.
The technology solution ‘Teams' is designed to support accounting, advisory, and administration businesses as they adopt automated financial advice.
Ignition Wealth chief technology officer, Mike Giles, said "through working with our industry superfund clients over the past six years we have learnt the importance of making tools and calculators easy for our partners to embed into their existing sites."
The firm said the technology would integrate seamlessly with the institution's existing software platforms.
"We looked at how to mimic the more mundane areas of data capture, to allow the customer to do more of the data entry and administration, and free the advisers' time up for evaluating and giving advice," he said.
"Through working with our industry superfund clients over the past six years we have learnt the importance of making tools and calculators easy for our partners to embed into their existing sites."
Superannuation funds have thrown their support behind the QAR reforms but want a “clear statement” that they will not be required to check all member SOAs.
In its latest report, the corporate regulator says the deduction of advice fees has led to instances of “inappropriate erosion of members’ balances”.
Financial advice is having a significant impact on how Australians are engaging with the more complex aspects of their superannuation, new findings have shown.
While the Financial Advice Association Australia said it supports a performance testing regime “in principle”, it holds reservations about expanding this scope to retirement products.
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