AdviceOS calculators tap into gamification

26-May-2017

By Megan Tran

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Technology provider Midwinter Financial Services has released its AdviceOS calculators incorporating a gamification approach and aimed at providing an off-the-shelf configurable calculator solution to be included on the websites of superannuation funds and financial planners.

The calculators have been designed to give super fund members and financial advice clients access to a suite of tools to analyse certain aspects of their financial situation such as super balance, mortgage repayments, and salaries.

Access to investment choices, retirement income and transition to retirement strategies, if appropriate, are additional features available to calculator users and have been included as a result of superannuation fund gamification.

“The beauty of these calculators is that they have been developed with various ‘calls to action’. These ‘calls to action’ give the client a clear line-of-sight from the adviser’s AdviceOS public website calculators, escalating to digital advice, escalating to phone-based advice and eventually escalating to face-to-face advice in a cohesive manner,’’ Midwinter managing director Julian Plummer said.

He pointed out this is because the fundamentals of public calculators employ the same engine that has been used in AdviceOS for comprehensive advice, meaning irrespective of the method of advice delivery used all channels of advice can produce consistent results.

“Providing the same consistent outcome for all onramps of advice means we are now able to rid the industry of a plague of inconsistency when it comes to providing advice through various delivery channels,” Plummer said.

The calculators allow businesses to align the look to their corporate style guide, and the inputs and outputs are accessible via API. This means that if the client does not want to use the default version, they can construct their own range of calculators, whose output will be the same as with the scaled and comprehensive advice produced by AdviceOS.

The projections, assumptions and related disclosures associated with the calculators have been reviewed by a third party actuary to ensure compliance with ASIC rules, and Financial Services Council and Actuaries Institute guidelines.

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