Advice platform intelliflo is looking to meaningfully assist practitioners provide retirement savings advice, including that for SMSFs, having deliberately developed its offering to incorporate the superannuation rules specific to the Australian market.
“We’ve worked with a top-tier accounting firm to get our cash-flow modelling to a place where it’s aligned to Australian tax law and superannuation rules. So we’re putting all of those rules into the cash-flow modelling system and updating them for things like the new contribution limits and contribution strategies and that applies for SMSFs as well,” intelliflo head of sales Stuart Alsop told selfmanagedsuper.
The platform, officially launched in the Australian market last month, serves as both a practice management tool and a communication portal whereby clients can access their account information and proactively interact with their adviser on a range of issues.
To this end, Alsop points out it can play a cybersecurity role for advisers as it provides an avenue of communication with greater security than the use of standard emails currently accepted as standard practice.
“One of the statistics gleaned from our launch event is that 90 per cent of cybersecurity attacks in financial services start from an email. So what we’re suggesting now is by using a client portal not only allows technology to augment the client experience, but is also a way to send messages and secure documentation, such as advice documents, identification documents, allowing advisers to get away from sending that information via email,” he noted.
For SMSFs this would include using it for details such as tax file numbers and director identification numbers.
Alsop took the opportunity to allay fears the platform may not be effective for clients belonging to an older demographic, such as many SMSF trustees.
“Another fascinating statistic we found is that there is this myth the older generation aren’t tech savvy and they don’t use technology in the way we might want them to,” he said.
“Again, we’ve got some fantastic data from the UK market that completely smashes that myth to bits in that one of the largest cohort of users is in that 60 to 65 bracket.”
