InvestStream, MUFG partner to enhance digital advice in super

InvestStream is aiming to lead the delivery and expansion of personalised digital advice across super funds in a new partnership with MUFG Retirement Solutions.

The strategic partnership aims to simplify the member engagement experience by combining InvestStream's conversational engagement technology SuperAnne with SUGAI, the financial modelling capability from MUFG Retirement Solutions' administration platforms.

The pair said the initiative will enable a more "connected" approach to member engagement while supporting superannuation funds to deliver scalable, digitally enabled advice.

Advisers will also benefit from enhanced workflows from a connected technology environment, which will reduce duplicated data entry and improve continuity between digital engagement and adviser support.

It comes as expectations for personalised digital experiences continue to grow, according to Bravura Solutions.

MUFG Retirement Solutions ANZ chief executive Frank Lombardo highlighted how technology can help address the advice gap while enabling super funds to respond to evolving member expectations.

"One of the greatest opportunities facing our industry is expanding access to quality financial advice for more Australians. We believe technology has an important role to play in helping democratise advice by making personalised guidance more accessible, affordable and scalable," Lombardo said.

"Our proposed partnership with InvestStream would bring conversational engagement tools, sophisticated financial modelling and administration capabilities into a single ecosystem, rather than treating these capabilities as separate.

"This integrated solution would enable superannuation funds to scale their personalised guidance while reducing complexity and improving the member experience."

InvestStream chief executive and founder Jason Hoang said the collaboration will simplify sophisticated financial modelling for members.

"Professional-grade financial intelligence has traditionally been available primarily through financial advisers and specialist advice processes. We believe technology can help make those same insights accessible to more Australians," Hoang said.

"By combining our technology with MUFG Retirement Solutions' administration capabilities, we have an opportunity to bring sophisticated financial modelling into the digital experiences members already use, helping superannuation funds close the advice gap and deliver more personalised guidance at scale."

Notably, Australian Food Super recently became the first super fund to bring an AI-powered engagement initiative for its members in a partnership with InvestStream.