Why are Financial Mappers exhibiting at the CMSF2017 Conference, sponsored by Australian Institute of Superannuation Trustees?
Financial Mappers is bringing new opportunities to the Superannuation Industry which will allow them to empower members when making financial choices for superannuation. Financial Mappers offers a new means of communication between members, fund managers and advisors.
Financial Mappers is personal financial modelling software which includes two detailed formats of a superannuation account, within this holistic financial planning tool. It is intended to supplement, rather than replace current platforms.
Fund members often have no idea of a safe drawdown rate and run the risk of premature depletion of assets. Financial Mappers offers a choice of three methods of drawdown for detailed assessment of drawdown rates.
Currently most forward estimates are presented to clients using standard linear average projections using past rates of returns. There has, until now, been no simple way to demonstrate to the public, the effect of irregular or negative returns and risk sequencing.
Giving ‘individual advice’ to large numbers of members is prohibitive and generic advice currently has be to supplied to interested clients via seminars, webinars or on line generic or automated answers to questions. Where some face to face advice is undertaken this is expensive and time consuming. To give informed advice, the advisor is better equipped when they have a full picture of the client’s overall financial assets and aspirations. This information can be supplied with customizable reports generated within Financial Mappers.
Engaging with the client and educating them to make sensible decisions with their superannuation is challenging for superannuation funds. Explanations as to the possible outcomes of various choices is also time consuming and not easily demonstrable until now.
Financial Mappers can assist in resolving all of these problems.
A Financial Mappers user has estimated his income sources, assets and future lifestyle choices and shares these with his superannuation fund manager or advisor. Tailorable reports are generated to the client. A mutual working space with easy explanation and tools for demonstrating alternatives is established for any client requiring individual attention.
Not only is client engagement and education enhanced but one financial advisor can service a much greater number of clients. More importantly, providing all members with easy to use modelling software for their personal finances, will help to empower and educate members. A financially literate member is more likely to make better financial choices for their superannuation, with or without the help of financial advice offered by fund managers.
Financial Mappers is sold online to DIY Investors, but may also be white labelled by superannuation fund managers and provide free to members, using either the PRO or Enterprise version.
While at the CMSF17 Conference, Gold Coast, (22-24 March), please come and speak with Glenis and David Phillips, the founders and creators of Financial Mappers.
Glenis Phillips SF FIN – Designer of Financial Mappers