moneyGPS Media Release
moneyGPS launches a full suite of digital Out-Of-The-Box Retirement tools and advice
Trustees could find it easier to meet their RIC responsibilities as moneyGPS launches a full suite of digital Out-Of-The-Box Retirement tools and advice.
Super Funds may now be able to better support their members with a scalable, compliant and accessible solution.
Fiduciary Financial Services Pty Ltd, trading as moneyGPS, is launching three new digital Retirement products over August that could enable Trustees to comply with their RIC responsibilities and help their members thrive in Retirement.
Tailoring is available as part of the moneyGPS SaaS Enterprise ‘Out-Of-The-Box’ solution for super funds which have specific requirements for their respective members.
The Retirement Check-Up
An engaging digital fact find, The Retirement Check-Up provides Australians aged 45 and over with a factual financial snapshot of their journey towards retirement. It uses the same UX as The Money Check-Up, which achieves a 79% completion rate.
Users can discover:
- If they’re on track to achieve their financial goals
- Which age pension and other benefits they may qualify for
- The most effective ways to reach their retirement income needs.
If appropriate, the Retirement Check-Up will recommend relevant SoAs for the user to purchase.
Retirement Income SoAs
Delivered under either the moneyGPS AFSL or the Superfund, the Retirement Income SoAs available are
- Transition to Retirement (income top-up)
- Transition to Retirement (tax effective top up)
- Commence Pension (account-based Pension)
If appropriate, the Retirement Check-Up will recommend relevant SoAs for the user to purchase.
Retirement Income SoAs
Delivered under either the moneyGPS AFSL or the Superfund, the Retirement Income SoAs available are
Transition to Retirement (income top-up)
Transition to Retirement (tax effective top up)
Commence Pension (account-based Pension)
These SoAs form part of the largest suite of digital Statements of Advice (SoAs) in Australia.
The launch of the Retirement Check-Up and Retirement Income SoAs is timely. Trustees now play a pivotal role in improving retirement outcomes for approximately 2.5 million Australians over the next decade*. Using moneyGPS’s cost-effective SaaS solution enables them to get to market fast and offer greater access to safe financial advice as their members approach retirement.
Benefits of the moneyGPS Retirement Solution
- RIC Compliant**
- Customisable algorithm and advice rules
- Aligns to any existing in-house advice service
- Existing compliance and risk management protocols
- Option to use the moneyGPS AFSL for digital advice delivery
- Pre-population of digital fact finds
- Integrates with any administration platform
- Customisable algorithm and advice rules
- Improves member engagement and retention
- Trackable success metrics.
A bespoke user journey that provides Trustees with a single advice offering for members’ retirement income needs is also in the design phase. It analyses the mix of Government Pension, Account-Based Pension, and Annuity in order to optimise a user’s retirement income.
George Haramis, one of Fiduciary’s Founders and CEO, said, “Until now, meeting RIC Responsibilities has placed a burden on Super Funds operations and budget. Many recognise a digital solution is key, but building one from scratch requires a significant resource and financial investment. Leveraging the moneyGPS Out-Of-The-Box solution, with customisation options, means they can benefit from budget-friendly, compliant, digital advice that is ready to go and can be tailored to fit an Enterprise’s advice approach.”
ABOUT MONEYGPS
moneyGPS is a SaaS platform that uses AI, an industry-designed calculation engine and a best-in-class user experience to enable Institutions, Accountants, Financial Advisers, Superfunds and Employers to offer compliant digital and hybrid financial advice journeys and SoAs without needing an AFSL.
ABOUT FIDUCIARY
Fiduciary is an Australian Fintech and owner of moneyGPS and accountantsGPS—SaaS products that provide affordable, compliant digital advice and SMSF services to financial services firms.
Designed by finance industry stalwarts George Haramis and Drew Fenton and created by a team of tech heads, it combines all the brilliant parts of the financial services world in a simplified, user-friendly way.
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accountantsGPS and moneyGPS SaaS products provide affordable, compliant digital advice and SMSF services, to Australians through; Institutions, Accountants, Financial Advisers, Superfunds and Employers.
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Fiduciary is an Australian Fintech and owner of accountantsGPS and moneyGPS—SaaS products that provide affordable, compliant digital advice and SMSF services, to Australians through; Institutions, Accountants, Financial Advisers, Superfunds and Employers.
Designed by finance industry stalwarts George Haramis and Drew Fenton and created by a team of tech heads, it combines all the brilliant parts of the financial services world in a simplified, user-friendly way.
accountantsGPS integrates with BGL’s API extracting data from BGL’s Simple Fund 360 SMSF administration software to produce a digital SMSF Check-Up report.
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