Mercer launches Facebook advice service

18-Dec-2017

By Sarah Kendell

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Superannuation administration group Mercer has launched a new Facebook-based robo advice service that leverages artificial intelligence to calculate the amount of money users will have to retire on.

The group said the new advice service, called SuperBot, was designed to engage younger super fund members through social media and mobile devices.

As it could be easily accessed through Facebook Messenger, the service also provided an easy way to scale simple retirement advice for a mass audience, with 17 million active Facebook users in Australia.

Mercer chief customer officer for the Pacific, Cambell Holt, said it was hoped the initiative would go some way towards connecting with the 80 per cent of Australians who were currently unadvised.

“If the industry wants millennials to engage with their superannuation and retirement strategies we need to speak their language across the media they relate to,” he said.

“We need to deliver an experience that demystifies superannuation and empowers customers to engage and interact with super on their own terms, any time and on any device.”

Holt said millennials were expected to account for two thirds of the workforce by 2025, so it was essential that financial services providers increased their engagement with this demographic.

“Millennials are digital natives and expect the convenience of being provided financial advice about super in a format and medium that suits them,” he said.

“Through enhanced member engagement, more customers are setting up salary sacrifices, consolidating, making informed decisions and actively engaging with our financial advice. Overall, this means that they are heading for a better retirement.”

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