Early super access ROA now digital



The record of advice template launched by industry groups has now been launched as a digital solution to support advisers inundated with requests for advice on early superannuation access.
The Financial Planning Association (FPA) has partnered with Midwinter, Financial Mappers, and AdviserLogic to make the ROA template digitally available to provide advice more efficiently.
FPA chief executive, Dante De Gori, said: “The FPA understands that even with the relief provided by ASIC – i.e. the use of ROA and the extension of time from five days to 30 days – it will still be a difficult ask for members to be able to provide advice to existing clients on accessing super at the price point set”.
Financial Mappers designer, Glenis Phillips, said advisers could tailor the layout of the template by inserting their own practice branding, make format changes, and tailor the ROA to their clients’ financial position and goals quickly and efficiently.
“We are excited to partner with the FPA again to deliver a digital solution to minimise the time spent on bulky printouts and make the client experience more engaging by offering a streamlined template,” he said.
The Financial Planning Association (FPA), the SMSF Association (SMSFA), Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia and the Institute of Public Accountants (IPA) created the template for their members to help clients withdraw from their super if they were suffering financial hardship brought by the COVID-19 pandemic.
Recommended for you
Two national advice businesses have merged to form a leading holistic advice business with $2.5 billion in funds under management.
Insignia Financial has completed its transition of a range of administration and technology functions to SS&C Technologies as it seeks to be a leading wealth manager by 2030.
ASIC has permanently banned a financial adviser after he allegedly concealed information from clients and misused client funds, among other breaches.
Financial year losses of limited advice advisers could mean the sector is “dead in the water” going forward after a continuous decline.