Most super members can't get the advice they need

SuperSmart is changing that by helping funds build the financial capability of their members.

When it comes to getting advice on superannuation, the facts are brutal: most members are uneducated and can't get the advice they need.

  • Members need financial advice to thrive but uneducated members significantly slow the speed to a SOA.
  • Today’s super education is simply not cutting it with 80% of members saying their education needs are not met.
  • The cost to funds to deliver advice is too high and ways must be found to lower it.
  • Text-heavy, dry and generalised content leads to low engagement and no action. Succinct formats, a clear pathway and the next steps are key to success.

Member financial capability is a cornerstone of good member outcomes.

Over 12 million Australians have unmet advice needs today, and this represents a significant opportunity for super funds to leverage technology and data to deliver their members engaging, highly accessible personalised digital advice journeys, while still providing options to speak to a human adviser

Paul Giles
Chief Executive Officer - Superannuation, Iress