Plum launches 'no cost’ online limited advice service
NAB-owned corporate super provider Plum has rolled out a new online advice tool allowing members to tailor content according to their life stage and generate a statement of advice.
The service is free of charge to Plum members and is aiming to further engage people with their superannuation, according to managing director Lara Bourguignon.
“In the first two months of it being available, more than 2,400 self-service statements of advice were generated for members,” Bourguignon said.
“We developed the new online limited advice service in response to member feedback.”
The advice tool can be accessed via the Plum secure website, which also allows members to implement portfolio changes themselves or call an adviser and be assisted through the advice process.
Plum is also planning to launch the insurance version of this tool, which will allow members to calculate their insurance needs and change their cover.
“We recognise members want to complement our service with the assistance of online tools,” Bourguignon said.
“The technology enables members to model different strategies via the online advice engines and then implement the recommendations through online tools, forms or our free phone-based advice.”
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
