AdviserLogic adds new feature to software
AdviserLogic has added a ‘super rollover’ feature to its software to help advisers be more competitive against other businesses.
In a statement, AdviserLogic said the feature is a form of robo-advice that performs “mundane functions” for which advisers cannot charge significant fees and that will make it easier to compete with industry funds.
“It enables rollover of a client’s existing super funds into an adviser-selected super fund, which then automatically selects a model portfolio that matches the client’s risk profile,” AdviserLogic head of product development Daniel Gara said.
“It then runs an analysis comparing the features and fees of the relevant superannuation funds,” he said.
Mr Gara added that the ‘super rollover’ feature will simplify the compliance process, benefiting both advisers and licensees.
“It recommends a model portfolio which is directly in line with the client’s risk profile. It then compares features and fees of the old and new super funds and underlying investments. Statement of Advice generation is the next step,” Mr Gara said.
He pointed out that for insurance within super, the feature will help advisers to complete a comparison of insurance premium projections based on a combination of gender, age, occupation and sum insured data.
“The adviser analyses how much the client needs and Super Rollover compares the premiums and features available in the existing superannuation funds with those available in the recommended funds,” Mr Gara said.
Advisers flock to individually managed accounts
Financial advisers are increasingly shifting to individually managed accounts (I...
Finalists named in AMP University Challenge
Five entries from universities around Australia have made it to the final stage ...
ASIC document on SMSF advice costs questioned
An industry body has questioned the corporate regulator’s focus on the risks o...