With intra-fund and scaled advice becoming integral to superannuation fund offerings, new research has suggested that enterprise-grade intra-fund advice functionality should be deployed alongside superannuation administration platforms.
The research, the latest Investment Trends Planning Software Report, has pointed to recent technology deployments by major superannuation funds.
"The deployment of Decimal at Mercer and QSuper is a significant milestone for intra-fund advice technology, Investment Trends technology analyst, Ian Webster said.
"Decimal has demonstrated that enterprise grade intra-fund advice functionality should be deployed alongside super administration platforms," he said.
The Investment Trends award for best superannuation scaled advice application went to Decimal, with the research housing noting that superannuation fund intra-fund advice technology had emerged from a previous generation of Australian fintech developers led by Rubik Provisio and Decimal.
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.
In a Senate submission, the Financial Services Council said super funds should be able to nudge members on engaging with their super and has cautioned against default placements.
The Joint Associations Working Group, which counts FSC in its ranks, has issued an urgent warning to the government.
Senator Jane Hume will join the speaker lineup at the inaugural Australian Wealth Management Summit.
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