AvSuper will partner with decimal to provide its members with an online intra-fund advice tool that the fund says will enable members to “self-start” their financial planning experience.
Decimal’s web-based financial technology will be available to members from September and has been provided in response to member requests for more personalised assistance, according to AvSuper chief executive Michelle Griffiths.
“We’ve got a proportionately higher account balance membership [and] a relatively small number of members compared to our funds under management, so it’s easier to maintain a more highly personalised service, and we’re in a better position than most to identify and pick up trends,” she said.
Once members have initiated the advice process online they can then seek more qualified advice from a licensed planner, she said.
Some members may decide to do use the tool to do switching without further advice, while other members who want a full risk assessment or risk profiling done can pause the program and an adviser can come in and provide them with a Statement of Advice, she said.
“From a compliance viewpoint, we are impressed with the transparency built in to the decimal system enabling us complete access to all member and adviser activity,” she said.
“The tool has been created with all the compliance data for contribution caps and so on built in to identify those triggers and they can slide the scale up or down to suit their circumstances and give them some indication of what the outcome is going to be.”
