By Karren Vergara 22 June 2021
WealthO2 has launched an app for financial advisers and their clients to help them manage their investment and superannuation information.
Available on Apple and Android, the app aims to provide advisers and their clients transparency on their holdings, returns and how they are progressing towards their goals, the company said.
“While increasingly we are seeing all ages of clientele utilising apps, it’s the next generation of adviser’s client who have viewed the issues from the Royal Commission and are even more aware of possible hidden fees and lack of transparency,” WealthO2 co-founder and managing director Shannon Bernasconi said.
Bernasconi added that advisers have told her that many of their clients are more engaged with their financial strategies and processes thanks to the ease of technology.
“Taking the next step and providing investors with the capability to check their investments on their personalised app will only enhance engagement and interest,” she said.
In May, Wealth02 lowered the admin fee on its superannuation offering, Super Simplifier, by 3.3 basis points.
Fees are capped at $1760 per member or $3630 across six family members.
“Super Simplifier gives members the personalisation, transparency and flexibility of an SMSF but for a fraction of the cost. It is the only a low cost offering of its type in the market and offers full transparency of assets through the use of the HIN structure and managed accounts,” Bernasconi said.
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