Australian Ethical has teamed up with technology company, DASH Technology, to offer direct to consumer projections.
DASH, the new name for Wealth02 following mergers with Roar Software and NEO, would provide customised projections in the online superannuation statements and client portal of Australian Ethical super members.
Andrew Whelan, chief executive of DASH, said: “We are delighted to be working with Australian Ethical and take this partnership as a nod to both our modelling prowess as well as our solutions-based approach.
“We are excited to support Australian Ethical's members with our highly flexible and easy to implement solutions, enabling them to seamlessly modify their contributions based on their personal retirement goals.”
He added the merger and name change were part of an effort by the firm to position itself as a best-of-breed solutions provider for the broader wealth industry.
Australian Ethical super had 55,000 members, having launched in 1986 as Australia’s first ethical super fund. It was currently in merger talks with Christian Super to create a combined fund with 100,000 members.
Introducing a cooling off period in the process of switching super funds or moving money out of the sector could mitigate the potential loss to fraudulent behaviour, the outgoing ASIC Chair said.
Widespread member disengagement is having a detrimental impact on retirement confidence, AMP research has found.
Economists have warned inflation risks remain elevated even as the RBA signals policy is sitting near neutral after its latest hold.
Australia’s superannuation funds are becoming a defining force in shaping the nation’s capital markets, with the corporate watchdog warning that trustees now hold systemic importance on par with banks.