SuperEd to develop super digital advice

19 January 2017
| By Hope William-Smith |
image
image
expand image

SuperEd is looking to raise an extra $3 million to $6 million on top of a recent $2.5 million to help with its partnership with Challenger to develop digital advice solutions.

SuperEd chief executive, Jeremy Duffield, said the funds were needed to provide new technology solutions to help bring higher levels of advice to the superannuation sector, assist clients in managing investment risks, and to encourage membership in super funds.

"Just two per cent of superannuation fund members get advice annually; there is a challenge to do this as well, and the only way to expand the vast mass of super fund members is to use digital advice," he said.

"The lack of help and advice plays a major role in many members leaving their fund."

Duffield said members often dropped out of super funds during retirement as they were unsatisfied with offerings, and this could be remedied with better digital offerings.

"Most members of super funds are going to need advice at one stage or another, yet 80 per cent head into retirement without help," he said.

"Funds are also starting to recognise that the service expectations of their members are changing and accessing help and advice when and where the member wants it will become a new norm.

"Most members should get advice, or coaching and guidance on an ongoing basis to help them on a journey to a satisfactory retirement income."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Co...

1 day 4 hours ago

Demand from institutional investors was the main driver of growth in Australia’s responsible investment (RI) market in 2023, as the industry continued to gain momentum....

1 day 4 hours ago

In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges....

1 day 5 hours ago