Super advice going online

New software is being introduced that will allow superannuation funds to take members right through to a draft Statement of Advice - all online and without needing to talk to a financial adviser.

Software group Decimal is in the process of rolling out software the group hopes will allow super funds and their associated advisers to take advantage of intra-fund advice rules. But the software isn’t restricted to limited advice, said Decimal managing director Jan Kolbusz.

Kolbusz said his software will bring super and advice businesses “within reach of our industry’s version of the Holy Grail” in creating a cost-effective way to provide personal advice to super fund members.

The software allows super funds to send members a personalised URL, through which they can access a secure web page pre-populated with their personal fund information. From there the member can access a range of functions, from testing what outcomes can be created from different investment strategies through to receiving a draft Statement of Advice.

Following the creation of a draft Statement of Advice, Kolbusz said the software allows the superannuation fund to direct clients to a planner of the super fund’s choice, whether internal or outsourced, phone-based or in person.

The company is now in discussions with a range of super funds about rolling out white label systems.