This year’s awards theme is resilience, with Chant West looking for funds that have shown resilience in the face of unprecedented change and challenge. The Group’s General Manager, Ian Fryer, said “we’re looking for funds that have demonstrated they can manage an ever-changing environment in relation to investments, regulation and work practices in a way that continues to deliver strong member outcomes.

“Despite the pandemic, the public spotlight has remained on super funds and how they’re performing and serving their members, so identifying and celebrating fund excellence has never been more important,” he said.

The finalists for the 2021 Super Fund of the Year are (in alphabetical order):

• AustralianSuper
• Aware Super
• CareSuper
• Cbus
• Equip
• HESTA
• Hostplus
• QSuper
• Sunsuper
• UniSuper

The finalists for the important Pension Fund of the Year award are (in alphabetical order):

• AMP MyNorth
• AustralianSuper
• Aware Super
• Cbus
• CFS FirstChoice Wholesale
• QSuper
• Rest
• Sunsuper
• TelstraSuper
• UniSuper

The winners of the 2021 Chant West Super Fund Awards will be announced at a gala event at the Ivy Ballroom on 26 May, once again supported by AIA Australia as major sponsor. Alexandra Tullio, CEO of Financial Executive Women, will be MC for the event.

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The company will now be known as Leveraged, with Leveraged Equities now comprising part of the product range in a potential multi-product strategy for the firm.

Alexandra Tullio, Executive, Leveraged said: “Our re-brand is so much more than simply formalising what people have been calling us informally for years.  It’s about evolution and celebrating the successful implementation of changes to the operation of our business we’ve made since announcing a boost in investment to Leveraged around 18 months ago.

“Leveraged has a strong, proud history in combination with an enviable market reputation.  Our new face reflects both the trust earned from our customers over many years and the quality of our service. It reflects our growing product range and customer-first mentality. Above all, it’s an instantly recognisable new logo that ‘tips its hat’ to the heritage and strength of our brand.

“We’re excited about Leveraged and looking forward to a robust future. We’ve spent a great deal of time and energy refreshing the business and giving our people an element of freedom to best determine how our teams will operate.  It’s been a highly consultative period and the time is now right in the evolution of Leveraged to unveil our new identity.

“Leveraged is committed to innovation, developing new offerings and meeting gaps in the market in league with our partners. We’re responding to a changing marketplace and continually improving the customer experience so that we are truly the professional’s choice when it comes to geared solutions”, concluded Ms Tullio.

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The new offering will help make advice far more accessible to the wider public, in particular, the four out of five Australians who have never previously sought financial advice. 

The process has been driven by demand for low cost financial advice, as confirmed by the uptake of Bendigo and Adelaide Bank’s new low cost Super offering, SmartStart Super.  

The initiative now gives the Bank the ability to offer advice on a larger scale.  Branch-based planners are currently restricted in the number of clients they can see due to greater demand and a steadily growing branch network. 

Bendigo Wealth has utilised Provisio’s technology to make the delivery of financial advice more efficient, dramatically reducing the cost for consumers and making life easier for financial planners. 

“Australians want advice, they say they need advice, but until now, there has been a real gap between what people say they need, and what they are prepared to pay for.  We’re determined to close the advice gap,” said Head of Wealth Markets at Bendigo Wealth, Alexandra Tullio.  

“There is a growing trend seen across sectors, where face-to-face customer service is being complemented by readily accessible, consumer-driven online sales catering to a 24/7 market.  

“The phone-based advice component is part of a tiered advice model that will meet a greater range of consumer advice needs. Just as high-speed internet is revolutionising tele-medicine, Provisio is helping us revolutionise the delivery of financial advice. 

“Whether our customers prefer to contact us over the phone, or face to face, we can support and assist them”, Ms Tullio said. 

“Bendigo Wealth has built a solution that will make financial advice accessible to many more Australians, and more importantly, will allow customers to access advice in a way that suits their personal circumstances, regardless of their working hours or whether they require ‘piece by piece’ or full advice. 

“We recognise that FoFA and MySuper have their challenges, but we are determined to ensure the best outcome for consumers at the end of the legislative process, currently being driven by Bill Shorten, Minister for Financial Services and Superannuation.

“There is significant interest in our low-cost product, SmartStart SuperTM , demonstrated by high call volumes, as well as customers walking into branches and asking for the product, so we’re making it easier for people to apply and speak with a consultant.  

“Financial advice can now be provided in just 20 minutes, compared with the traditional model which can take days.  This technology gives Bendigo Wealth the ability to offer advice on a larger scale at a time when branch-based planners are restricted in the number of clients they can physically see.  In short, it’s a win-win for planners and their clients,” Ms Tullio concluded.

Fast Facts for planners: 

• Low cost solution to existing clients in a market that has significant margin squeeze.
• Ability to service C and D clients for retention and provide additional revenue stream.
• Helps advisers to increase the value of their business by better understanding the type of clients they may have.
• Advisers are keen to learn about solutions and products that will enable them to engage new and existing customers in a cost effective manner while still being able to generate revenue.
• Bendigo Wealth’s solution addresses key FoFA issues such as accessibility and will work to make advice far easier to obtain while helping independent and Bendigo Financial Planners meet the challenge of FOFA reforms.    
• FoFA and the overall regulatory environment have forced the industry to think again about how to offer advice in the future and how they service the ‘tail-end’ of their businesses.
• Provides low cost, low margin solutions to the IFA market: scaled advice and low cost super.
• Enables advisers to clean up their business and potentially get ready for sale or succession.
• Provides cross-sell opportunity for advisers.
• Provides the ability to offer pro bono or low cost work to younger or clients just starting out on the investment journey, in an environment which makes it more and more difficult to service low balance customers.
• Low cost, scaled advice capability.

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Bendigo Wealth, the wealth management division of Bendigo and Adelaide Bank, is backed by the heritage and strength of over 150 years of banking, investment and lending expertise.

SmartStart Super features a full suite of low cost (0.39 to 0.99bp) index and actively managed funds – including brand new age-based default funds designed to meet a client’s life stage, investment preference, risk profile and preferred contribution methods.

Bendigo Wealth has partnered with TAL Life Ltd to provide a generous and highly competitive goup life insurance cover as part of the SmartStart Super offering.

Head of Sandhurst Trustees, Paul Rohan said,“Sandhurst Trustees, one of the oldest and most experienced parts of the Bendigo business has developed a new, affordable and easy to understand superannuation product flexible enough to suit most Australians.”

“We designed and built SmartStart Super as part of our ongoing commitment across the Bendigo and Adelaide Bank group to provide solutions, however our customers choose to engage with us.”

“Customers can expect our traditional hassle-free service, ease of understanding, fast turnaround times and the flexibility they need to help them achieve their retirement savings goals”. Mr Rohan concluded.

Alexandra Tullio, Head of Wealth markets said, “We understand that everyone is different and that super can be seen as complex and confronting, so Bendigo Wealth is offering a superannuation recipe for retirement that makes it easy for people to keep it low cost and simple.”

The SmartStart Super offering ranges from the plain and simple ‘set and forget’ default approach to a full suite of either actively managed or indexed diversified funds – or indeed a mix of both, meaning investors can take a core satellite approach.

The core satellite is effectively the ‘buffet’, where people who really want to take control of their retirement savings can determine how they choose, build and personalise their own super plan – according to their needs and investment convictions.

This flexibility includes brand new age-based default funds designed to meet a client’s life stage, risk profile and preferred contribution methods, along with a range of online services. The underlying managed funds in SmartStart Super offer low management fees ranging from just 0.39% to 0.99% p.a. What’s more, the administration fee for SmartStart Super is only $98 p.a.

“All the funds have specialist managers managing the investments and SmartStart offers generous and highly competitive group life insurance cover. We believe this is a particularly attractive feature, given that only around 5% of Australian families with dependent children have the recommended level of risk protection cover,” said Tullio.

“SmartStart Super is well suited to younger people starting out in their careers. The product is expected to be ideal for investors ranging from 20 to 50 years of age who are looking to consolidate funds and kickstart their retirement savings.”

“SmartStart Super is low cost but high customer support – and we’ll continue to make sure that fees and charges are kept to an absolute bare minimum”, concluded Ms Tullio.

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Head of Wealth Markets at Bendigo Wealth, Alexandra Tullio said, “Diego, Josh and Christine’s appointments complete the realignment of the distribution team.  As senior members of the team they will have a high level of input around our distribution strategy, and bring an enormous amount of experience and expertise to the group, together with an in-depth understanding of the IFA market”

Diego Del Rosso 
Diego Del Rosso is Senior Manager, Strategic Partners & Alliances. He brings more than 17 years relevant financial services experience covering areas of finance, insurance, funds management and superannuation. Diego Joins Bendigo and Adelaide Bank from OnePath Australia where he was the National Sales Manager – Employer Superannuation. Diego began his career with Advance Bank and has held various sales and business development roles with Heine Funds Management, Citibank, Tower Australia and Asgard Wealth Management.

Joshua Parisotto 
Joshua Parisotto is Senior Manager, Business Partner Services.  He brings more than 12 years financial services experience to the Independent Financial Advisers, National Licensees, Dealer to Dealer services and Private Practice. Joshua joins Bendigo and Adelaide Bank from IOOF where he was the National Adviser Service Manager for Independent Financial Advisers and Licensees. Joshua began his career as a Para planner with AMP and has held various Dealership roles including, Compliance, Para planning, Practice Management and Financial Advising, with Westpac, AXA, and RACV Financial Services

Christine Koh 
Christine Koh is Senior Manager for Business & Partner Delivery team. Christine has worked in a number of key customer and partner focused roles during her last 7 years with Bendigo & Adelaide Bank delivering on our premium service model.  Christine was previously managing the Sydney Client Service Team having after having led the Customer Experience effort for the Macquarie Integration project.

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