Paul Giles (left) and Adrian Gervasoni

HostPlus is the latest major institution to enhance its digital advice offering, partnering with Iress and Industry Fund Services to utilise the advice tech providers digital advice product. 

Over 12 million Australians have unmet advice needs according to Iress and the new tool will go some way to provide scalable and accessible advice Hostplus’ members.  

Iress chief executive of superannuation Paul Giles tells Investment Magazine the partnership aims to deliver on the intention of the Quality of Advice Review to expand the accessibility of financial advice. 

“Super funds have invested in a lot of mobile apps to increase engagement and education of their members – this will deliver scalable, accessible and affordable advice to HostPlus’s members,” Giles says. 

The service is free for the super fund’s members as “HostPlus has invested in platform for the benefit of members and ultimately improve retirement outcomes,” he adds. 

Called SuperSmart, the tool combines Iress’ digital advice capability with member education to provide Hostplus members with personalised simple advice. 

Last August, retail super fund provider Insignia Financial enlisted the services of Israeli-based advice tech provider Personetics in its own digital advice play. 

Broadened relationship   

The partnership has also deepened IFS’s relationship with the super fund, beyond licensing retirement planners. The expanded relationship includes upskilling HostPlus’s client service teams according to IFS executive manager of advice solutions Adrian Gervasoni.    

“In the context of super funds for digital advice to be successful, you need to focus on influencing decisions,” he says. “HostPlus should be congratulated for having the risk appetite to rebuild its advice model.”