New Heron product assists with super fund comparisons

The Heron Partnership has launched a new online product to facilitate a meaningful comparison between the different superannuation funds in the market.

The new offering is called Heron Advisor and provides 150 points of comparison between competing superannuation funds including fees, features, investment options, performance and other peripheral benefits. It allows fund members to plot the position they are in with their current fund against where they would be in a competing fund.

The service contains three modules. The first is the product comparator that allows comparisons to be made between the key features of all public offer funds in the market and provides a good source for advisers' 'from to' comparisons.

The second module is a member benefit comparator and specifically caters for comparisons between the benefits offered associated with corporate superannuation funds against those of the alternatives.

The third module is a tender manager and lets advisers manage competitive tenders for corporate superannuation funds.

In addition to its comparative capabilities, Heron Advisor has the ability to improve compliance procedures regarding statements of advice (SOA). The product provides a 20 page report advisers can use as their own SOA or as an independent third part report.

Furthermore advisers can have their SOAs produced online.

The different features on offer means the product is suitable not only for advisers but for fund members and product issuers as well.

Heron Partnership managing director Chris Butler says, "For advisors, this system will lead to a more professional approach, improving efficiency, gaining more time to see clients and prospective clients."

The system was developed in conjunction with specialist superannuation IT company Curve Technologies.