Midwinter leverages superannuation gamification to develop consumer facing calculators


Julian Plummer

Australian based technology provider Midwinter Financial Services has today announced the release of its public facing AdviceOS calculators. These calculators are designed for super funds and planners who want off-the-shelf configurable calculators to feature on their public websites.

The AdviceOS calculators will provide clients and members of financial planners and superannuation funds a broad range of tools to analyse their financial situation.

Acting as a ‘disturbing’ client engagement tool, the calculators will allow individuals to access financial statistics (such as likely super balance, salaries and mortgage repayments) of their average neighbour based on postcode.

Through the gamification of superannuation, the AdviceOS public calculators will also give individuals insight into investment choices, retirement income and (if appropriate) allow them to investigate their potential ‘transition to retirement’ options.

Speaking of the newly released calculators, Managing Director of Midwinter – Julian Plummer said “The beauty of these calculators is that they have been developed with various ‘calls to action’. These ‘calls to action’ give the client a clear line-of-sight from the adviser’s AdviceOS
public website calculators, escalating to digital advice, escalating to phone-based-advice and eventually escalating to face-to-face advice in a cohesive manner.’

‘This is because the foundations of our public calculators use the same engine that has been used in AdviceOS for scaled and comprehensive advice. This means that all channels of advice now produce consistent results regardless of the mode of advice delivery used (i.e. calculator, phone based, face to face etc).’

“Providing the same consistent outcome for all onramps of advice means we are now able to rid the industry of plague of inconsistency when it comes to providing advice through various delivery channels.”

The calculators are fully configurable allowing businesses to align the look and feel to their  corporate style guide.

In addition, the calculator inputs and outputs are accessible via API, so if the client does not want to use the off-the-shelf version, they can leverage the Midwinter public calculator API to build their own suite of calculators, whose output will also be consistent with the scaled and
comprehensive advice produced by AdviceOS

In addition, the calculators have also been reviewed by a third-party actuary to confirm the projections, assumptions and related disclosures within the calculators are compliant with the relevant ASIC and other requirements for superannuation calculators, including IAAust (the
Actuaries Institute) and IFSA guidelines.

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