Helping members take their retirement products personally through automated member engagement
If you’re involved in financial advice in the retirement fund industry, then you know that member engagement is the holy grail. Engaged, aware members who take an active interest in their super enjoy better retirement outcomes than their less interested counterparts.
For retirement funds (known as superfunds in Australia), the benefits of member engagement are just as significant: higher fund balances translate to more FUM, greater fund loyalty and higher retention, reducing churn costs and FUM losses, and increasing use of higher value functions such as personalised superannuation advice. Building member engagement results in a win/win for both members and funds.
The question is: how to get members to take their super personally?
While we may not have the definitive answer, there is plenty we do know.
In particular, we know that making meaningful contact with members, providing relevant education, building financial awareness and offering individualised advice can make the crucial difference between an engaged, loyal member – and one who’s ready to take their balance and run.
However, given the sheer scale of most superannuation funds, reaching tens of thousands of members with the right information and advice is easier said than done. The degree of difficulty involved has led to a situation where, too often, some of the neediest and most deserving members are going without the advice they so desperately need.
That’s where Ignition Advice comes in. Our digital financial advice solutions for superannuation funds give you the ability to reach more members, with better advice faster – and at a lower cost – than ever before. In effect, our solutions buys you the one thing you really need: time.