Platform and wrap provider Wealthtrac today launched a new shareable App for its popular wrap product that will enable Wealthtrac members to monitor their super on their phone or mobile device.
The innovation follows the overwhelming success of Wealthtrac’s mobile shareable application for SMSFs that delivers news and information to anyone interested in self managed super.
Wealthtrac Chief Executive Officer Matt Johnson said the mobile device shareable App recognised the seismic shift occurring in the delivery of financial services and information.
Figures compiled by the federal government’s Australian Media and Communications Authority show as at May 2014 12.07 million Australians owned a smart phone.
“The penetration of Mobile Commerce or M-Commerce, defined as undertaking banking or paying bills or buying goods and services online using a mobile phone has ballooned dramatically, increasing 450% in 3 years to a point where 3.4million Aussies used an M- Commerce service during December 2013.
“You only have to catch a bus or a train in a capital city to realise its not just Facebook, Twitter and Instagram that people ‘on the go’ are accessing on their phone – they are also monitoring and managing their financial affairs.
“Using Wealthtrac’s ‘sister’ SMSF shareable App, launched last year, members can set up an SMSF, transfer assets to their fund and access information on SMSF borrowing.
“The world is moving mobile at a rapid pace and this new Wrap shareable App recognises this phenomenon.
“We have more digital innovation in the pipeline as we seek to continually improve ourservice to advisers and members,” Mr Johnson said.
Wealthtrac partnered with Shareable Apps to build their applications. CEO, Adam Friedman said, “We’re excited to be working with great innovators in their field and proud to produce this world first, one stop shop portal for Wealthtrac and its customers.”
Because the Apps are shareable, Wealthtrac customers and advisers can now refer new users by sharing the App with them across all mobile devices and all sharing methods.