This comes at a time where digital advice is increasingly being positioned as a solution to the advice gap and the impeding stampede of retirees about to leave the workforce. According to NGS, the new model aims to give its members access to advice earlier in their financial journey, with many services included as part of membership at no additional cost.
These include a virtual adviser for members, which is designed to help navigate simple super topics and provide personalised guidance, alongside access to qualified financial advisers when needed.
The fund has also expanded its online offerings to non-members through its ‘Virtual Adviser’ tool.
“The updated model forms part of NGS Super’s broader focus on personalised service and provides a clearer pathway into advice, bringing digital guidance, phone-based advice and comprehensive financial planning together into a simpler, more connected experience that supports members through life’s key financial moments,” NGS said.
NGS Super chief executive Natalie Previtera said, “Our members are telling us they want help making financial decisions without the complexity or cost barrier.”
“We want to reward the loyalty of our members by making quality advice easier to access, with much of the advice we offer available at no additional cost.
“Accessing the right advice and guidance can make a meaningful difference to your retirement no matter what your balance or life stage. We know that when members receive advice, they feel more confident and more in control of their financial future.”
As Previtera stated, clients feel more confident when they receive financial advice.
According to AMP’s retirement confidence pulse, confidence is elusive for most Australians, particularly as global uncertainty and a lack of professional advice continue to fuel financial anxiety.
Digital advice is increasingly being viewed as a solution to this problem, with research suggesting that these tools, opposed to replacing advisers, can help direct and triage people into more targeted advice.
FSC research also shows that, among Australians with an existing adviser relationship, more than half (56 per cent) said digital tools add value alongside human advice, while support also extended to those with limited or no prior advice experience.
According to NGS Super executive manager of advice and education Darryn Studdert, digital advice can play a key role in improving access to support for Australians who may not otherwise seek financial guidance.
“The updated model forms part of NGS Super’s broader focus on personalised service and provides a clearer pathway into advice, bringing digital guidance, phone-based advice and comprehensive financial planning together into a simpler, more connected experience that supports members through life’s key financial moments,” Studdert said.
“We want to ensure the right advice can make a meaningful difference to your retirement no matter what your balance or life stage. We know that when members receive advice, they feel more confident and more in control of their financial future.”
