Mercer partners with Decimal in robo play


By Daniel Paperny

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Global consulting firm Mercer has teamed up with automated advice provider Decimal Software for a new digital advice offering that it will roll out across its super fund network.

Decimal’s Eqilize offering would be made available to over 2 million super fund members across Australia, representing a total of $65 billion in assets under administration, the automated advice provider said.

The solution would also be rolled out to those using Mercer’s flagship super product, the Mercer Super Trust.

Decimal chief executive Nic Pollock said the partnership formed an exciting milestone for Eqilize, which had continued to build “considerable market traction” since its launch in May last year.

“[The deal] further establishes Eqilize as the standard for digital advice among Australia’s superannuation sector,” Pollock said.

“[It] continues a longstanding, successful relationship with Mercer as both client and channel partner.”

Mercer chief customer officer Cambell Holt noted the company had chosen to partner with Decimal because both groups agreed on the importance of technology in engaging customers, particularly those who were not currently seeking financial advice.

“We believe Eqilize will be central to achieving our ambitions … providing [members with] easy access to digitial advice,” Holt said.

He noted Mercer had invested significantly in its technological capabilities to deliver seamless customer service and a more optimised super experience.

“Digital advice isn’t about digitising traditional advice – we’re continually focused on helping our super administration clients to deliver better service and member engagement,” he said.

“The industry has an opportunity to start from a blank slate given most customers aren’t familiar with current advice models.”

Eqilize is one of two different robo-solutions currently offered by Decimal, with the other being Tentalon, a bespoke offering.

Decimal said Eqilize was best suited to the needs of small, medium and large super providers that could configure and scale the solution as their requirements changed.

The company rolled out Eqilize to industry fund Energy Super in April last year, providing access to digital advice for the fund’s 49,000 members.

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