SSFS partners with Midwinter, moves further into digital advice
State Super Financial Services (SSFS) will offer real-time compliance checklists and industry-leading retirement modelling tools after deploying Midwinter's cloud-based AdviceOS offering across its entire adviser network nationwide.
The introduction of Midwinter's flagship product is part of SSFS' $50 million Future Operation Model (FOM) project, which kicked off in 2013.
Since being chosen as part of the project, Midwinter has worked closely with Ernst & Young to assist SSFS move outside its traditional NSW public sector client base.
"Midwinter's AdviceOS was handpicked by SSFS in early 2014 from a selection of planning software providers, based on criteria such as third party integration, client engagement tools, multi-channel support, financial modelling, implementation capability and reporting," Midwinter Financial Services managing director Julian Plummer said.
"This announcement comes off the back of a very pleasing month for Midwinter, having just achieved the highest overall user satisfaction in the latest Investment Trends 2015 Planner Technology Report, in addition to ranking first in 18 out of 30 service elements."
The next stage of the FOM project involved implementation of the SSFS digital advice component, Mr Plummer told ifa.
"We are working closely with SSFS stakeholders on this project and are very pleased with our progress so far," he said.
The FOM project aims to introduce new capabilities to the business that will enhance the services provided to clients and business operations, as well as creating new ways of working in a timely manner to prepare the business for future growth.
"SSFS are pursuing a growth strategy that allows us to diversify our business operating model, services and customers. This has required a strategic approach to investments in future capabilities and the delivery of the business transformation program," director of SSFS Michael Monaghan said.
"Midwinter has been a key partner through the first phase of this transformation program."
Other features that SSFS' 160 advisers will have access to as part of the deployment include a built-in management approval process where certain recommendations require management approval to continue.
"The combination of the compliance checklist and the management approval processes offers SSFS a significant comparative advantage in managing the delivery of quality advice and maintaining a high level of compliance," a statement said.
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