Link Group, a global provider of share registry, shareholder management, analytics and superannuation fund administration services, today announced the launch of SuperMentor, a digital advice platform designed to provide online superannuation advice and motivate members to engage with their super.
SuperMentor has been developed by the Fund Administration division of Link Group, in recognition of the fact that digital financial advice is becoming increasingly important for superannuation funds as they compete to differentiate their offering.
SuperMentor empowers members with personal advice to set a retirement goal. The tool offers a personalised to do list, goal setting, education, four topics of advice and real time tracking of progress.
A number of superannuation funds have already expressed interest to sign up to the online advice platform.
Commenting on the launch, CEO of Fund Administration at Link Group Suzanne Holden said advice works best when integrated across different member touch points. She said there was a growing demand for integrated, seamless and consistent advice services to ensure the best possible member experience.
“Superannuation funds are increasing their advice offering as they recognise the provision of advice leads to greater member retention. Engaging and educating members not only improves their retirement outcomes, it engenders loyalty,” Ms Holden added.
Ross Bowden, CEO of Link Advice, Link’s specialist advice business, said that online advice can be an important triage tool.
“A scaled advice model is a good entry point for people who have not previously received advice. Many members contact their super fund seeking quick answers that mask their advice needs, yet they want a more complex discussion on their options.
“We anticipate a high demand from members aged 18- 50 for online advice. These members tend to be more tech savvy and are quite comfortable with online interactions,” Mr Bowden said.
The SuperMentor offering complements that of Link Advice, Australia’s major provider of scaled, intra-fund advice. Link Advice is part of the Fund Administration division of Link Group and currently services 12 major super funds, delivering over 35,000 pieces of advice each year.
Link Group’s Fund Administration division delivers comprehensive financial data solutions to superannuation clients, servicing an underlying client base of over 10 million superannuation account holders.
