📋 Tender Overview
Responding to growing appetite for financial advice from superannuation fund members Link Group will combine its own market leading innovation with that of personal financial management partner Moneysoft to streamline advice engagement for superannuation fund members and advisers.The new offering available to all existing Link Advice superannuation clients was built to reduce barriers in the uptake of advice by completely digitising paper-based fact find documents autopopulating fact find modules to improve member experience and automating data entry to save advisers time. These unique capabilties allow funds to provide personalised financial advice for every member at a reasonable cost.The new service labelled Link Advice Digital Fact Find will enable superfunds to configure the fact find to their requirements engaging members in a dynamic easy to follow digital format. The initiative builds on the step change in peoples attitude and use of digital enablement tools. According to research conducted by NMG Consulting the existing advice gap is set to grow exponentially in the near term with 3.1M members seeking financial advice up from 2.3M in 2020 and only 11000 productive advisers available down from 14300 in 2020. This presents a compelling and urgent opportunity for advice providers especially superannuation funds to automate digitise and dramatically improve the scale and efficiency of their advice services.By integrating APIs from Link Groups market leading technology and well-subscribed financial planning software through the Moneysoft platform the Link Advice Digital Fact Find will significantly improve the speed and accuracy of financial advice while at the same time capturing the voice of the member in their responses. Commenting on the new service Duncan McPherson Chief Executive Officer Link Advice said Digital Fact Find is the best of Link Group solutions and Moneysoft products combined to better service members and clients . Weve seen an opportunity to capitalise on both the increased adoption of digital platforms throughout COVID and the drive to continually improve the access and affordability of advice. The introduction of the Link Advice Digital Fact Find will not only improve member engagement but also improve adviser efficiency and compliance.The combination of new and old means Digital Fact Find could be brought to market quickly and rapidly deployed while benefitting from years of prior testing. Jonathan Shaw Chief Executive Officer Moneysoft said We are proud to partner with Link Group by offering the advanced fact find capability which benefits both fund members and advisers. This technology is specifically designed to improve the completion rate of fact-finding significantly increase the efficiency of advice delivery and reward members by compressing the interest-to-execution timeframe. The Moneysoft team is looking forward to working with Link Advice on a number of upcoming deployments.
