Financial planners caught up in the industry’s ‘plague of inconsistency’ need new offerings to streamline advice channels and eventually merge face-to-face advice with digital initiatives, according to Midwinter.
In a bid to drive out a ‘plague of inconsistency’ in the financial services sector, Midwinter has launched client-configurable public facing AdviceOS calculators.
The client engagement tool would allow individuals to access financial statistics of their average neighbour based on their postcode. Details would include likely super balance, salaries, and mortgage repayments, systemised through the gamification of superannuation.
Super funds and planners would be able to use the AdviceOS calculator as off-the-shelf configurable calculators on their public websites to provide better tools for the analysis of finances.
“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,” Midwinter managing director, Julian Plummer said.
“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.”
AdviceOS calculators would also allow individual insight into investment choices, retirement income and ‘transition to retirement’ options.
“This means that all channels of advice now produce consistent results regardless of the mode of advice delivery used,” Plummer said.
The calculators’ inputs and outputs would also be available to access via API to allow clients to build a personalised suite of calculators.
