REST Industry Super yesterday launched REST Advice Online to provide its users with personalised financial advice.
Midwinter, who delivers the service, told nestegg.com.au that Australians were looking for financial advice delivered in a non-intimidating and accessible way.
“There is a new generation of advice seekers who want to experience financial advice in a way that in non-threatening and instant – that is why digital advice is such a valuable offering for members,” Midwinter managing director Julian Plummer said.
“We believe by providing them with access to advice in a way they feel comfortable with, and a platform that will allow them to execute advice instantly, it will increase the uptake of financial advice,” he added.
While nearly all working Australians have a super fund in some form or another, many find financial advice a nervous proposition, according to Rest Industry Super CEO Damian Hill.
“For many Australians, investing can be a daunting task and superannuation, which is an important long-term investment, is no exception,” Mr Hill said.
“Importantly, it allows REST members to seek financial advice on their own terms in a way and at a time that best suits them – on their mobile device, via our website or over the phone.”
The move marks a significant shift from traditional financial advice, allowing some 1.9 million Australians to access financial planning using their smartphone, be it over the phone, on web chat or self-service.
“In particular, having mobile responsive access is crucial because a non-mobile responsive site is a 'back-button magnet' for consumers, [with] 40 per cent of people choosing another website if the first one they land on is not mobile friendly,” Mr Plummer explained.
“With this in mind, REST’s ‘Mobile First’ online advice platform is providing its members with a distinct advantage because they are offering them an advice service in place where they are already hanging out – on their smartphone or device."