Bravura has partnered with Rice Warner to provide an integrated online tool for superannuation fund members.
The new service combines Bravura’s ePASS business application with Rice Warner’s tools and calculators to deliver super fund members with ‘actionable advice’, which they can execute through the service.
“It’s actionable because the advice isn’t just produced in isolation, and if the individual wants to take that advice, they can actually perform the transaction straight away,” Bravura product marketing manager Daryl Wright told InvestorDaily.
“It makes it quite a lot easier if you want to engage your members because they are able to just go straight in and get that advice. It’s immediate and it’s there.”
With the joint service, funds will be able to provide statements of advice (SOA) for transaction purposes if the fund has an Australian Financial Services Licence, without the need for adviser intervention.
Under the new Future of Financial Advice (FOFA) reforms, Bravura and Rice Warner expect a demand for scaled advice from funds, which members will be able to access through the integrated tool.
“To date, super funds have provided a level of engagement on their websites, but the funds have fallen short of then being able to provide a full SOA for a client to be able to change their investment options or to put in more contributions ” Bravura director, strategy Darren Stevens said.
“What has been missing for many of the providers is the engagement. With FOFA coming in with scalable advice options, some are looking at a way of providing that level of autonomous advice through to those end members in a seamless and engaging way.”
The service will also provide additional capabilities including tailored e-marketing campaigns, access to calculators, transaction capabilities and follow-ups on advice through telephone, email or SMS prompts.
