Micro investment company Acorns has entered into an exclusive partnership with one of Australia’s largest superannuation funds by membership, in conjunction with the launch of a new app feature.
According to a statement, Acorns’ partnership with REST Industry Super coincides with the launch of a new feature enabling users to make voluntary contributions to qualifying super funds directly from their Acorns account.
Earlier in the year, Acorns engaged the Association of Independently Owned Financial Professionals (AIOFP) to assemble a panel of industry superannuation funds to participate in a pilot program.
REST members will be given six months of fee-free use of Acorns’ services by registering their super fund for voluntary contributions in the app, the statement said.
Acorns Grow Australia managing director George Lucas said the new feature has been developed in response to customers’ requests to have the option to contribute to their super.
“Our research revealed that most Acorns users were only reminded about topping up their super towards the end of the financial year, and they often did not have as much money available to contribute to their super fund as they would like,” Mr Lucas said.
REST general manager of brand, marketing and communications Mary Atley said the partnership with Acorns was a perfect fit as both organisations share a vision of improving the financial literacy of Australians.
“REST strongly believes in the importance of preparing for retirement from an early age,” she said.
“Making regular, additional voluntary contributions will have a significant benefit in later years, particularly if people make the most of initiatives such as the government’s co-contribution where applicable.”
Two of the big four banks are now forecasting another rate cut at the RBA’s Oc...
The corporate regulator has roughly halved the number of individuals it has bann...
Lifespan Financial Planning has rolled out a suite of managed discretionary acco...