The solution, drawing on information within the fund registry, allows members to set their retirement objectives, review projections and then make choices to optimise their retirement outcomes. Members are provided with a statement of personal advice and can choose to action the recommendations using the solution and monitor progress. Members can also receive automated personal advice for wealth protection, savings and debt management.
WA Super has become the first superannuation fund to implement the solution to deliver a personal advice service for retirement planning through its online member portal.
IRESS’ Managing Director of Wealth Management for Australia & New Zealand, Tizzy Vigilante, said: ”This delivery highlights our continued commitment to innovation in superannuation and advice. This solution, coupled with WA Super’s use of our scaled advice solution XPLAN Prime, means they can provide their members a hybrid of heavily automated but personalised advice. It delivers opportunities for the fund to grow and scale its business as part of a multi-advice, multi-channel proposition.”
IRESS’ automated personal advice solution directly integrates with its Acurity superannuation registry, providing super funds - such as WA Super - with one core platform and technology partner. This end-to-end platform reduces the risks associated with re-keying data between disparate systems, and the need to keep separate systems in sync with regulatory and product updates, thereby creating operational efficiencies for the fund.
IRESS’ automated personal advice solution has an open architecture so, through APIs, can integrate with other superannuation registry platforms, websites and portals.
WA Super is using the solution to provide members with access to online retirement planning advice; anytime, anywhere. The service is available to them online via their personal WA Super account.
WA Super’s General Manager of Distribution and Advice, Quyen Truong, said: “Our SuperClick Advice service, powered by IRESS, will suit a broad range of members looking to understand more about their retirement journey and the options available to move closer to achieving their retirement dream.
“From the fund perspective, it’s great to be first to market with IRESS’ new solution as part of our end-to-end fund administration and advice capability. This supports our growth strategy in a highly competitive environment.”
Cathryn van der Walt
+61 (0)402 327 633
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