App to help manage retirement finances
Almost 50 per cent of Australians do not have enough money in the bank to comfortably retire at 65 but can keep better track of their financial health through new technology, according to Collins Mann Private Wealth Management.
As a response, Collins Mann has launched its Nettshell to provide clients future projections of financial health and advice for reaching savings goals.
Developer Mark Collins said the long-term nature of the guidance available through the app could consider all attributes including net cash, loans, debt, and superannuation and was targeted specifically towards baby boomers.
Collins said that while the app provided a solid foundation, financial advisers were still a key component of the advice process.
"Nettshell is a fantastic tool to demonstrate and manage your financial positions, however having financial advisers available for additional support and advice is crucial," he said.
AUTHOR
Hope William-Smith
Recommended for you
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
