Advisers specialising in the superannuation space are the most ideally placed for offering online financial wellness programs and should do so by partnering with fintechs to expand their services and initiatives, according to Workplace Super Specialists Australia (WSSA).
WSSA president, Terry Rhodes said specialist advisers should look to boost financial education through an expanded range of specialist wellness services to meet increased demand.
“These types of programmes are gaining traction with employers and we see this as a huge opportunity for workplace super specialists,” he said.
“Workplace super specialists are in the best place to provide financial education literacy to employers and their employees, and could be looking at fintech providers, who are developing financial literacy programs at a great rate of knots, to help them deliver.”
The 2016 release of the WSSA Financial Wellness Index found almost two in five Australians needed to improve their financial wellness. Figures from CoreData for the index found 39 per cent were ‘financially unwell’ or had ‘room for improvement.’
