Andrew Proebstl

legalsuper has extended its partnership with Link Group by introducing a new digital intra-fund advice service to members through Link Group’s Super Blueprint.

Developed in response to a rise in members seeking advice online, Link Group’s Super Blueprint condenses complex financial concepts into comprehensible and accessible advice for superannuation fund members. Integrating into Link Group’s registry system, Super Blueprint prepopulates the members legalsuper information making it easier for them generate their own advice.

With over 10 years of experience and continual learning, Super Blueprint takes a personalised approach to delivering advice specific to member interest topics such as investment choice, insurance, projected retirement needs and contributions.

Commenting on the expanded offering, Andrew Proebstl, Chief Executive, legalsuper, said: “legalsuper continues to focus on providing members with access to information and advice to help them make the most out of their super and retirement.  Extending our partnership with Link Group into digital advice is an exciting step for the fund. Through the use of APIs from Link Group’s market leading technology, we believe Super Blueprint will provide our members with even more benefits.”

Super Blueprint makes superannuation advice accessible and affordable to all members and furthers Link Group’s commitment to transforming member experience. The bespoke algorithm has undergone rigorous, independent testing by a global actuary to provide personal intra-fund advice to superannuation fund clients and their members.

Duncan McPherson, Chief Executive Officer, Link Advice, Link Group, said legalsuper’s expanded advice offering through Super Blueprint would encourage members to take a bigger interest in their balances and accumulation:

“Digital innovation is shaping the future of the super industry. The analytics and advice provided through Super Blueprint will give members a clear balance and benchmark for how their super is performing, this encourages more informed decisions on plans and a more positive attitude towards contribution.

“Uncertain market conditions have people taking a closer look at their nest eggs, and choosing funds that can provide easily accessible advice on the accumulation and protection of superannuation amounts.

Super Blueprint allows members to understand more about how to get the most of their super and to ensure they take the necessary steps to achieve their goals in retirement.” said McPherson.

Super Blueprint has already been integrated and is available to existing legalsuper members through their member hub.

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Joining the STO, is former head of the TAL Trustee Office, Stephen Graham as Head of Transformation, and former head of superannuation business development at Colonial First State, Scott Waller as Senior Client Account Manager.

Specialist appointments include Sarah Adinsall and Rupert Butterworth in the Insurance team, Duncan McPherson (Compliance) and Lisa Yeung (Oversight and Risk).

“Equity Trustees is growing to become recognised as the leading provider of independent superannuation trustee services in Australia and we have increasing demands on our office as a result. With our focus on member interests, it makes sense that we will invest in the best quality expertise to support the high standard or service members are relying on us for,” said Mark Blair, STO Executive General Manager.

The new recruits join in the wake of two recent major announcements – the appointment of George Zielinski to the Equity Trustees Superannuation Limited (ETSL) Board, and appointment as superannuation trustee for the AMP Life superannuation funds.

“Being a superannuation trustee is a privileged role but comes with an array of technical complexities of governance and regulation. With many Australians seeking early access to their superannuation savings due to economic conditions, now more than ever, specialist superannuation trustee experience is essential,” he said.

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Duncan McPherson

Link Group (ASX: LNK) yesterday launched its latest digital advice product, Super Blueprint 3.0, to give more Australians access to easy and affordable quality financial advice.

Super Blueprint 3.0 provides members with tailored digital advice, in relation to their chosen superannuation fund.

Chief Executive Officer of Link Advice, Duncan McPherson, said Super Blueprint 3.0 distils complex financial concepts into easy-to-understand advice, that is delivered in a way that is personal, familiar and compelling.

“This latest upgrade brings a human element to digital advice, by speaking to members using first-person language. Super Blueprint 3.0 means members can generate their own advice from the comfort of their living rooms,” Mr McPherson said.

The bespoke algorithm was built over the past decade and has undergone rigorous, independent testing by a global actuary to ensure that it provides the best possible outcomes for superannuation fund clients and their members.

“Digital advice is a critical channel as we make advice more accessible and affordable for more Australians and is starting to play an important role in the hybrid advice experience being built by many superannuation funds combining telephone and face to face advice with digital,” Mr McPherson added.

Link Group will upgrade all its existing clients to Super Blueprint 3.0 in the next few months.

Link Group CEO of Fund Administration Suzanne Holden said Link is committed to investing in technology and experiences that provide superannuation funds with products that enable members to engage with their superannuation in a meaningful way.

“Our goal is to make financial advice more personal and accessible for all Australians. Digital advice can boost retirement outcomes by giving people access to information and advice that builds superannuation knowledge and engagement,” said Ms Holden.

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Link Group (Link) believes that by offering financial advice capabilities to members, superannuation funds enhance their value proposition. With the acquisition of Adviser Network in 2017, Link accumulated all the component parts to provide an end to end advice solution to the market. Yesterday’s announcement reflects Link’s belief in the value of advice.

Making the announcement, Suzanne Holden, CEO Link Fund Administration said: “Link is very excited about the future of our advice business. Bringing our market leading digital advice capabilities together with our experience and expertise in telephone and face to face advice, we are well positioned to help the superannuation industry to provide affordable and accessible advice options to its members.”

Duncan McPherson has been appointed to lead the business through the integration and the next phase of growth. Duncan joined the Link Group as part of the acquisition of Adviser Network in June 2017.

“I am delighted to have been appointed as CEO of Link Advice. We have two great businesses with complementary strengths. By combining our teams we’ll be able to capture their collective experience and knowledge to help more Australians access affordable advice”, he said.

Ross Bowden, currently CEO Link Advice, will assist with the transition and will leave Link at the end of June following 7 successful years with the group.

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Duncan McPherson

The ATO has released figures indicating a 30% growth in unclaimed superannuation in the past two years and this trend looks set to continue unless super funds find ways to actively help their members consolidate.

To help address this increasing amount of unclaimed super, Adviser Network has developed SuperFusion Plus, a simple super consolidation tool which helps members to simplify their super in three easy steps. Adviser Network has integrated with the ATO’s SuperMatch 2 service to provide members with details of both their lost and known super accounts.

“Almost 15 million Australians hold superannuation accounts with over 40% of these people having at least two accounts” Duncan McPherson, CEO of Adviser Network said today. “By working with superannuation funds, we have developed a product they can use with their members to consolidate their super and simplify their retirement savings. Adviser Network has a proven track record with super consolidation tools with Super Fusion Plus’s predecessor successfully helping funds’ member consolidate their super for the past three years.”

Super Fusion Plus has been specifically designed to help funds provide an ongoing service to their members recognising that more and more members are utilising the fund’s services and need the flexibility to take action at their convenience. Super Fusion Plus is built with the member journey in mind, recognising the importance of providing a seamless offering.

“Adviser Network believe that superannuation needs to create a rhythm built on making it easy for members to become familiar through increased confidence.” McPherson said. “By working with super funds, we’ve built a series of digital advice and engagement applications like SuperFusion Plus to make it easy for members to take ownership of their future.”

As part of the Lonsec Group, Adviser Network, has a proven track record in developing products which have supported superannuation funds with digital applications from advice to calculators and super consolidation for over six years.

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Duncan McPherson

Thousands of accountants providing advice on the establishment of an SMSF face a potential compliance gap as changes to financial advice regulation come into effect after 30 June this year.

The expiry of the existing exemption means that accountants wishing to continue advising clients on their suitability to set up an SMSF will be required to hold an Australian Financial Services Licence (AFSL) from 1 July 2016. According to Adviser Network, the missing link has been an effective SMSF suitability tool that allows accountants operating under a limited AFSL to provide a compliant, personalised advice solution.

“While there has been extensive discussion on the new licencing framework, little thought has been given to how accounting practices will be able to set up the right business and compliance processes to continue advising their clients on SMSF suitability,” said Adviser Network CEO Duncan McPherson. “When it comes to self-managed super, many investors rely on their accountant as their trusted adviser. So licensed accountants need to be able to provide that advice in a way that is client-centric, compliant, and doesn’t require them to invest heavily in technology simply to advise on suitability.”

Adviser Network adds to accountant advice arsenal

Adviser Network has launched SMSFit, a new cloud-based solution that enables licensed accountants to carry out a preliminary assessment for investors considering a self-managed superannuation fund, as to the suitability of setting up a self-managed superannuation fund.

SMSFit assesses the client’s suitability for an SMSF based on a range of individual factors, from the client’s investment goals and financial situation, to their understanding of performance benchmarking and relevant regulatory issues. SMSFit then generates a limited Statement of Advice (SOA) that reflects the client’s attitude related to the appropriateness of self-managed super.

“SMSFit enables licensed accountants to maintain their role as a trusted partner to their clients,” said McPherson. “The new licensing regime requires accountants to get their head around a multitude of rules, and we want to ensure they have all the tools they need to develop the advice component of their business.

Accountants who have formed strategic relationships with financial planners will be able to continue to refer their clients for rollover and comprehensive financial advice if they decide to proceed with an SMSF, after reviewing the limited advice provided by SMSFit, as to the suitability of a self-managed super fund for the clients.”

SMSFit is licensed by the accountant’s chosen AFSL provider. Registration involves an annual subscription fee of $99 with the cost of producing the results and a limited SOA being charged per limited SOA generation. This allows the licensed accountant to invoice their client based on the cost of the limited advice using SMSFit, along with their own fee, for further financial advice.

“We are absolutely dedicated to providing transparent and non-conflicted outcomes for clients,” said McPherson. “We have put a lot of resources into ensuring that SMSFit is totally objective, and that the advice it provides is based on the requirements of each client. With SMSFit, both the licensed accountant and the client know that the advice is fit for purpose and underpinned by experienced industry practitioners.”

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Adviser Network is a leading non-institutionally aligned provider of financial advice infrastructure, services and technology to the Australian superannuation industry, helping funds more effectively manage member engagement, satisfaction and retention.

In his new role, Mr McPherson will be responsible for continuing the sustainable growth of Adviser Network whilst also looking for new ways to meet the growing advice needs of superannuation members, advisers and consumers.

Mr McPherson has over 20 year experience in the financial services industry. Prior to joining Adviser Network, Mr McPherson spent 12 years with MLC in various roles, including State Manager for MLC Advice Solutions and Head of Licensee Productivity and Development at MLC.

Nathan MacPhee, Director of Adviser Network and Joint CEO of Lonsec Fiscal, said the appointment positions Adviser Network strongly for its next phase of growth.

“Duncan’s expertise lies in his wide ranging experience and capability in the development and implementation of customer led advice models, stakeholder engagement, leadership, as well as strategy and business development.

“His wealth of experience and deep understanding of the financial advice sector makes him well suited for the CEO role and to lead Adviser Network to continued success.”

Mr MacPhee also said this appointment further strengthened the Adviser Network team.

“Adviser Network delivers tailored, efficient and scalable solutions through both an integrated direct and online capability to the Australian Superannuation Industry,” Mr MacPhee said.

“This appointment of Duncan will position Adviser Network to continue delivering high quality services and advice for our clients.”

Launched in 2011, Adviser Network works with a range of clients, including Mine Wealth and Wellbeing, ESSSuper, Intrust Super, Club Plus Super, Mercy Super, Christian Super, Suncorp, HOSTPLUS, NGS Super, QIEC Super, Club Super and AON.

The Lonsec Fiscal group of companies consists of Lonsec Research, Lonsec Stockbroking, SuperRatings, MPF Ratings, SuperSavvy, Adviser Network and Toowards.

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