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Link Group enhances Adviser Online features
Link Group’s Retirement and Superannuation Solutions (RSS) division has enhanced its digital platform for financial advisers to speed up efficiency and scale support to more members.
The investment in its digital capabilities includes self-service documentation so advisers can generate key member documents including member account profiles and Centrelink schedules and digital registration so that self-registration for advisers can be completed in minutes.
With Third-Party Authority functionalities, it will reduce verification and approval times once members accept the authority initiated by their adviser. Link Group manages more than 80,000 third-party requests from advisers every year.
Duncan McPherson, general manager, advice services, RSS Link Group, said the combination of the introduction of the Retirement Income Covenant and the Quality Advice Review meant “there has never been a better time for superannuation and advisers to work together”.
“In Australia, Link Group administers more than 40 per cent of all superannuation accounts and understands the importance of enhancing relationships through simplified digital experiences and improving the efficiency of superannuation funds and advisers,” McPherson said.
“Our strategy is to help foster the needs of everyday Australians by supporting services like advice that enable better retirement outcomes.
“Link Group is committed to the part we play in enabling greater accessibility by developing digital-first services that provide seamless online experiences for advisers. We continue to invest in the ongoing development of our advice services to deliver greater value to our clients and their members who need it most.”
Link’s call centres answer some 3.5 million phone calls from members each year, of which almost 15 per cent are simple advice-related questions about their retirement, insurance, or investment, Link Group said.
The next round of enhancements of Adviser Online is expected to include automation of advice fees, with digitised rule validation and approval and system updates.
Additionally, it will look at integration with other financial planning software to support the adviser value proposition.
In April, Link Group’s RSS business and $70 billion fund Rest agreed in principle to extend their 30-year partnership.
Late last year, Link Group’s partnership with the country’s largest super fund, $300 billion fund AustralianSuper, was extended by two years to 30 June 2025.
It was also awarded a contract by $160 billion Aware Super in early 2022 to provide defined benefit administration to former Victorian Schools Superannuation Fund (VISSF) members with its merger.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
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