Equip will launch its online automated investment service, Equip MyMoney to all accumulation members next week following a successful pilot program run with around 300 members. During the pilot, over 190 members logged into the Equip MyMoney, with a number submitting instructions to execute investment switches based on its recommendation.
Equip’s Executive Officer, Member Experience, Justin Sadler, said the 64% of participating members accessing Equip MyMoney had exceeded expectations, given that only 34% of members responding to the annual Equip member survey in May indicated they would be likely to use the online tool.
“The stability and integrity of Equip MyMoney has been proven in the initial pilot and it’s exciting to now be able to turn it on for over 40,000 members,” Mr Sadler said.
“Making early decisions about investments and contributions can make a huge difference to retirement outcomes. We are getting the message out to younger members in particular that Equip MyMoney can be a very powerful enabler of building a stronger financial future,” Mr Sadler said.
“It’s 24/7 presence puts advice at your fingertips whenever you want to access it,” he added. “It’s the ideal solution for people who are not quite ready or inclined to seek phone advice or a comprehensive financial plan from a personal adviser.”
Equip MyMoney is the super fund’s presentation of Clover.com.au, the Melbourne-based start-up in which Equip took a 27% shareholding in 2015.
