New super advice module for COIN
Macquarie Adviser Services has launched a new superannuation advice module for its COIN software.
The Compare:Super advice tool was based on feedback from clients, according to Robert McCabe, head of products and technology for COIN/Web at Macquarie Adviser Services.
“[Clients] see a growing need to be able to see superannuation products side by side efficiently and effectively, while at the same time making sure that it’s compliant as well,” he said.
The functionality of the new module is not available in existing software, McCabe said. He added that the module would integrate into existing COIN software so that data would not need to be entered twice.
The product utilises research data from Mercer that is updated weekly, with insurance information from Rice Warner that is updated monthly.
Compliance is another key attribute of the new module, in terms of both the reasonable basis for advice and product replacement sections of legislation. Macquarie aimed to not just meet but exceed the minimum requirements to provide assurance to advisers, he added.
The product operates in both a research mode — which advisers can use for their own research, education and preparation — and an advice mode that is designed for client consultations.
“We try to cater for those different types of modes because we’re conscious that we work with different types of clients who have different types of needs. We try to build it with maximum flexibility,” McCabe said.
AUTHOR
Chris Kennedy
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