Millennials, aged 18 to 34 make up 89 per cent of these customers and data shows that 46 per cent of all customers only ever use their mobiles while accessing super. REST Industry Super gives access to financial advice through a mobile platform, after Midwinter research found 21 per cent of Australians are only able to access the net via their mobile and that 60 per cent of all internet access occurs on mobile devices. The Commonwealth Bank’s Essential Super product allows users to view super balances and transactions alongside their bank accounts using a mobile phone app. One 25-year-old customer came to us with nine super funds from different jobs.”
The AdviceOS calculators will allow individuals to access financial statistics such as likely super balance, salaries and mortgage repayments of their average neighbour based on postcode. Details would include likely super balance, salaries, and mortgage repayments, systemised through the gamification of superannuation. Super funds and planners would be able to use the AdviceOS calculator as off-the-shelf configurable calculators on their public websites to provide better tools for the analysis of finances. “Investing can be a daunting task and super is no exception,” REST CEO Damian Hill said. These ‘calls to action’ give the client a clear line-of-sight from the adviser’s AdviceOS public website calculators, escalating to digital advice,” Midwinter managing director, Julian Plummer said. Silvana Karzon uses her mobile to access super at home. Financial advice technology provider Midwinter has developed calculators to provide clients of advice firms with a broad range of tools to analyse their financial situations. She enjoys managing her super on the go.