Since 2011, IFS has been offering industry super funds a suite of customisable, digital advice tools ranging from simple online calculators and advanced general advice tools, through to personal advice tools which produce Statements of Advice. Acknowledging the growth in demand for digital advice and recognising shortcomings with current market offerings, IFS has created a Digital Advice Forum to develop the next generation of digital advice tools, tailored for the needs of not-for-profit superannuation funds and their members. IFS has identified this as a priority to better serve our clients through new and emerging digital channels, seamlessly complementing advice through traditional channels.
Through the Forum, IFS is collaborating with client funds to co-design solutions, within a sustainable commercial model that ensures scale benefits for participants. We will identify the optimal technology partner to deliver online advice tools that are integrated with client fund Administrators and CRMs to allow members to move between online and traditional advice channels; and to establish a robust regime for monitoring and supervision of digital advice.
With increased scrutiny, and trust in the financial advice industry waning, industry funds are well positioned to transform the traditional advice model and become a trusted adviser for more Australians through the digital channel. We welcome new funds who would like to become part of the team who shapes the future direction of digital advice for industry super funds.
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