Lonsec is introducing access to superannuation fund research on its iRate platform, offering financial advisers access to investment data gathered by the company.
The company says it is aiming to address a gap in a solution that provides super fund research along with managed funds, equities, separately managed accounts (SMAs), listed securities and individual super fund investment options.
Lonsec has the goal of giving advisers a full picture of their client’s portfolio while helping them address potential regulatory blind spots.
The research is being provided by SuperRatings, the company’s specialist super product research team.
Lonsec CEO Charlie Haynes explained it was critical for the advice industry to respond to the call for increased professionalism and stay ahead of the regulatory curve.
“Advisers are wary of superannuation advice becoming the next flashpoint in the ongoing push to professionalise the industry,” Mr Haynes said.
“Even well-educated and well-resourced advisers could end up in hot water if they cannot clearly show how their superannuation and investment advice is in the best interest of the client.”
The research is said to allow advisers to compare more than 600 superannuation products across over 300 different fund characteristics based on what Lonsec claims to be the most extensive fund benchmarking survey conducted in the Australian market.
“Justifying a particular product recommendation means being able to explain how it stacks up across a wide range of criteria, such as the member servicing environment, insurance coverage and cost, and fund governance and administration,” Mr Haynes said.
“That’s why we’ve made this research available to advisers, to make it easier for them to gain a deeper understanding of super products and to satisfy themselves, their clients and the regulators that their recommendation is the right one.”
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