PRODUCT LAUNCH - mobiSuper

Tidswell Financial Services has launched their latest superannuation product, a full featured app-based product named mobiSuper.

mobiSuper is the latest product to operate underneath the trustee umbrella of the Tidswell Master Superannuation Plan as a separate division. Tidswell report they are also the trustees for Max Super, Good Super and Spaceship.

But unlike these other products that have narrow cast target markets that are serviced with streamlined limited numbers of investment options and product features, mobiSuper is a broader offering that includes a wider number of investment choices, insurances and member loyalty discounts.

According to mobiSuper's Product Disclosure Statement and Reference Guide that were released on 1 July, the new product will operate in the personal superannuation segment with five investment choices - Growth, Balanced, Green, Conservative and Cash that will be run on a multi-management basis.

The investment managers that will make up this multi-management panel are likely to be, based on the Tidswell Master Superannuation Plan 2016 annual report, Platinum, CFS GAM, PIMCO, Perpetual, BTIM, BlackRock, Nikko, Vanguard, Franklin Templeton, Magellan, Schroder, Bank SA, Baker Steel, Fidelity, UBS, Aberdeen and Ironbark.

The fees for using the mobiSuper Balanced option are 1.7% made up of a 1.5% indirect cost ratio plus $94 per year member administration fee. The indirect cost ratio for the Green investment option is 1.99%.

While the product's insurance guide is yet to be released, the PDS notes that automatic death and TPD cover of up to $300,000 is available as well as optional personal insurance. TAL is the insurance provider. mobiSuper also offers default income protection cover of up to $3,500 per month.

The member loyalty discounts mobiSuper boasts are extensive covering several major supermarket chains, department stores, sporting goods retailers and cinema and entertainment ticketing networks.