Question 1

How do you make me financially fitter?

Accepted Answer

Your journey starts with 5 quick questions. Your responses give us a place to start your financial fitness journey.

Whether you work on our suggestions or do your own thing, we’ll help you manage your plan in steps once you've created your account.

Once inside Otivo, we suggest:

Checking out the Dashboard (aka 'Home') and the financial icons to see the order we've recommended you work on your finances.
- The financial icons are: Debt, Save, Insurance, Invest + Retire (which includes Super). These relate to the types of financial plans you can create to help you achieve your financial goals.
Start a plan: fill in the details of your chosen plan so we can provide guidance and advice.
Make a financial commitment to achieve your goal sooner (we help you work that out).
Keep track of your goal to ensure payments are made and everything else you’re working on is manageable.
Keep your plans details updated so our advice is current. Linking your accounts like mortgage and super keeps the values updated (every 24 hours) or you can do it yourself.

Question 2

How do I reset my password?

Accepted Answer

To reset your password, click on 'Log in' and select 'Forgot password' in the pop-up window. From there, follow the prompts, and we'll send you an email with a link to reset it. If you're using Facebook or Google to log in, you'll need to reset your password through their platforms instead.

Question 3

How’s the quality of advice maintained?

Accepted Answer

At Otivo, we’re dedicated to providing trusted, high-quality financial advice. Holding an Australian Financial Services Licence and Credit Licence (No. 485665), we meet the same corporate governance standards as large advisory firms, with our advice independently audited to ensure compliance. All our advisers meet FASEA standards, have passed the Financial Adviser Exam, and are listed on ASIC’s Financial Adviser Register. Ongoing professional development is maintained through Kaplan Professional OnTrack and overseen by our Chief Advice Officer, Philippa Billings. This includes meeting continuing professional education requirements for Otivo’s Qualified Tax Relevant Providers (QTRP).

Adviser	ASIC FAR ID
Paul Feeney, GDip AppFin, Dip FA	1267471
Philippa Billings, LLM, GDip FP, ADipFS, Cert SMSF, Cert MB	1267470

Question 4

Is my private data shared with anyone?

Accepted Answer

No, we don’t share your personal identifiable data with any third party (including your employer if you receive it as part of your employment). Life's stressful enough without worrying about your privacy. That's why we go out of our way to keep the private stuff you share with us under lock and key. Find out more in our Privacy Policy and Security section at the bottom of this page.

Question 5

Is my personal and financial details secure with Otivo?

Accepted Answer

At Otivo, keeping your personal information safe is our top priority. Your data is securely stored right here in Australia and protected by robust security measures like firewalls, end-to-end encryption, and CloudFlare services. We use advanced encryption methods to ensure your data stays secure, whether it’s at rest or in transit. Plus, we follow strict privacy policies to guarantee your information remains confidential and is only used for its intended purpose.

Question 6

How often can I access Otivo?

Accepted Answer

Once your account has been created, you can visit Otivo as often as you like.

Question 7

Is Otivo licensed to provide financial advice?

Accepted Answer

Yes, Otivo is fully licensed to provide personal financial advice. We hold both an Australian Financial Services Licence and an Australian Credit Licence (Licence No. 485665), meeting all regulatory requirements set by the Australian Securities & Investments Commission (ASIC).

Question 8

How does Otivo work?

Accepted Answer

Otivo generates personalised financial advice to help you be better off. When you update your details, we’ll automatically adjust your plan to reflect your new situation. Getting started is easy — just answer a few questions, choose how you'd like to pay, and we’ll set you up with 12 months plan so you can explore Otivo whenever it suits you, at your own pace. You can also download a Statement of Advice (SoA) which is a summary of your advice whenever you like.

Question 9

Where do I add my partner?

Accepted Answer

You can add your partner when you first get started. Or if you’d like to add a partner later, just go to Profile > Account details, and in the Partner Info section, select Add a partner.

A pop-up will guide you through the rest.

Question 10

How is Otivo different from other financial advice websites or platforms?

Accepted Answer

Otivo is fully licensed, has qualified financial advisers and only provides advice online. Automation enables Otivo to use a few details to provide speedy, current and personalised financial advice.

This blend of automation and human expertise ensures both efficiency and accuracy.

Question 11

How is Otivo different from other financial advice websites or platforms?

Accepted Answer

Otivo is fully licensed with a team of qualified financial advisers and digital experts. They deliver financial advice exclusively online using automation to provide fast, current and personalised advice with minimal member details. This blend of technology and financial expertise ensures efficiency and accuracy.

Question 12

Is the financial advice from Otivo tailored to my specific needs?

Accepted Answer

Yes. Advice is tailored by using details entered in Otivo's platform (‘inputs’) so that your profile can be assessed to recommend suitable investment option (‘outputs’).

Question 13

How does Otivo's projected retirement income graph work?

Accepted Answer

Otivo’s projected retirement income graph is based on the personal and financial information you provide, combined with legally required figures like the current Superannuation Guarantee rate. It also incorporates assumptions about the future to give you an estimate of your retirement income, helping you plan ahead with confidence.

Question 14

How do I choose a super fund?

Accepted Answer

When choosing a super fund, it’s a good idea to look for low fees (ideally less than 1% per year of your account balance), consistent long-term performance (over 20 years if retirement is still a while away), and insurance options if you need them. Around 10 investment options is usually plenty — too many can mean extra fees you might not need. A great place to start is ASIC Moneysmart > Choosing a super fund ASIC’s Moneysmart guide on choosing a super fund. You can also check out comparison tools like the ATO’s MySuper product comparison or browse websites like Canstar for more options.

Question 15

How much income do I need in retirement?

Accepted Answer

A popular rule of thumb is a figure that's around 70% of your household annual salary. It's less because most people have reduced spending habits, a mortgage has been paid off for example.

Tell me more.

An association called ASFA provide detailed retirement expenditure breakdown required for both a comfortable and modest lifestyle in retirement (for singles and couples). Find out more at ASFA Retirement Standard.

Question 16

Why is my super fund is missing?

Accepted Answer

Our super fund data comes from Chant West, and they’re always working to add more funds to the list. If your fund is missing, please contact us so we can notify them and try to get it added for you.

Question 17

What is Otivo's primary investment philosophy and methodology?

Accepted Answer

Otivo takes a data-driven approach, sorting investment options into five risk categories. Recommendations are based on their adjusted net performance over the past five years, ensuring the investment option aligns with your age based risk profile.

Question 18

Where can I check my super contribution caps?

Accepted Answer

To check your super contribution caps, log in to myGov > ATO > Home and click on Super. You’ll find details about your fund, contributions, balance, and key limits. The Manage section also helps with things like using super for a home or consolidating accounts. Plus, the Compare Super option makes it easy to explore and compare funds or update your employer on your fund choice.

Question 19

How does Otivo differentiate from traditional investment advisers?

Accepted Answer

Otivo uses advanced algorithms to provide personalised investment advice at a fraction of the cost of traditional (face-to-face) advisers. Otivo also differs in the type of investment advice we provide. Otivo won’t tell you how much of your money should be invested in a specific product or asset class like shares for example.

Question 20

How do I cancel my subscription?

Accepted Answer

If you’d like to cancel your Otivo subscription, just log in to your account, head to Profile > Account Details, and select Cancel Subscription/ Deactivate Account at the bottom of the page. Keep in mind that once cancelled, refunds aren’t available. If you have any questions or need help, please reach out us at info@otivo.com.

Question 21

Why have I only been recommended 1 option when I'm invested in multiple?

Accepted Answer

Having more than one option can lead to increased expenses and complexity. Otivo's algorithm is designed to minimise these complexities as much as possible. The result is a cost-effective selection of appropriately diversified investment options that have been carefully filtered to match your specific risk category.

Question 22

Why have you recommended an option with a higher, worst-year performance, compared to one of your alternative recommendations?

Accepted Answer

Otivo takes your current investments into account and looks for similar options. Sometimes, the recommendation may end up in a higher-risk category, indicating a track record of more frequent negative returns. This is a characteristic trait of higher-risk assets, which tend to experience more significant highs and lows.

Question 23

What makes the recommendation better than the two alternatives?

Accepted Answer

Our recommendation is designed to suit your unique situation, including your age, by finding the best balance of risk and return. We evaluate each investment option within its risk category, looking at adjusted net performance over five years while factoring in fees. The option we recommend offers the highest net return in your risk category. To help you make an informed decision, we also provide alternative options from higher or lower-risk categories.

Question 24

How does Otivo determine the most suitable risk category for me?

Accepted Answer

Superannuation is a long-term investment, so the two biggest things Otivo looks at are how long you have until you retire, and how long you're expected to enjoy that retirement. Because of this, we don't ask about your own personal attitude to risk.

Question 25

How often does Otivo update its investment recommendations?

Accepted Answer

Otivo keeps your investment recommendations up to date by reviewing them at least once a year or whenever there are updates to its algorithm or new data from trusted research providers like ChantWest. This way, you always have the most accurate and relevant advice at your fingertips.

Question 26

Are fees accounted for in the investment returns?

Accepted Answer

Yes. The annual return for each investment option is displayed after fees are taken out, so what you see is clear and consistent. Otivo uses a simple, standardised method by starting with a $100,000 balance and deducting the fees. These fee details come from ChantWest, a trusted research group that specialises in superannuation funds, ensuring you get reliable and transparent information.

Question 27

Does Otivo recommend Lifestage investment options?

Accepted Answer

Yes. If one is available for your age, it's offered either as a standalone or alternative recommendation.

Question 28

How do I edit my personal information?

Accepted Answer

To update your personal information, go to Profile on the Dashboard. Here, you can edit your name, email, mobile number, or partner details. The Financial Summary section allows you to update your gross income, other income, expenses, assets, or debts. Be sure to click Save when you're done.

For specific details, like investment values or loan information, edit them directly in the relevant plan. For example, to update your mortgage details, navigate to Debt > Home Mortgage and adjust the loan amount, interest rate, offset amount, term, or repayment details.

Question 29

Can I pay for Otivo myself if I leave my employer?

Accepted Answer

Yes. Please feel free to move to an annual plan — just visit www.otivo.com for all the details. If you'd like to keep your existing data, simply click 'Contact Us,' and we’ll help you through the process. If you'd prefer a fresh start, you can dive right in without our help.

Question 30

How does the fee adjustment work in the performance filter?

Accepted Answer

We adjust the five-year performance by taking the difference between the average fee of a risk category and the actual fee of the fund. Funds with fees below the average get a performance boost, and those above see reduced returns.

Question 31

Why does Otivo favour funds with lower fees?

Accepted Answer

All super funds charge fees and these add up over time since super is generally a long-term investment of around 30 years or more. Because of this, fees can reduce what you are ultimately able to save. Lower fees mean you keep more in your super account. Otivo's algorithm is set up to strike a balance between returns and cost.

Question 32

Are newer funds excluded from Otivo’s recommendations?

Accepted Answer

Yes, newer funds without 5 years of historical returns are excluded from Otivo’s recommendations. This is because investment options with at least 5 years of history offer a more reliable and consistent basis for comparison, helping you make more informed decisions.

Question 33

Why are geared funds and non-diversified options excluded?

Accepted Answer

These funds can carry higher risks. Otivo aims to present diversified options to ensure a balanced investment approach.

Question 34

Why have I been recommended for a lower-returning investment?

Accepted Answer

Based on the information Otivo has and the criteria used by the algorithm, the most suitable option is recommended. It may be a lower or higher returning investment and could change over time.

Your age plays an important part in the filtering process. Similar to a Lifestages investment strategy, more of your super is invested in defensive assets like cash and fixed interest as you get older.

Historically, defensive assets have offered the lowest returns. This is one simple example of how a lower-returning investment might be recommended.

The algorithm is doing a lot of work in finding you a suitable investment option. From a technical perspective, a lower-returning investment might be recommended because of:

Risk category alignment: The algorithm first assigns you to one of the five risk categories based on your age. Each risk category has a specified allocation for defensive and growth assets. Depending on your age, you might fall into a category that prioritises stability over high returns. This would mean you could be recommended a "safer" investment that might not have the highest return but aligns with your age and associated risk tolerance.

Fee adjustment: Otivo doesn't just consider raw returns. It adjusts returns based on fees. The algorithm gives a boost to funds with fees below their category's average, and it reduces the returns for those funds with above-average fees. So, even if a fund has high returns, if it also has high fees, its adjusted return might be lower. This fee-adjustment process can make a lower return, but lower fee funds are more attractive because higher fees can erode future returns.

Diversification: Otivo excludes non-diversified and geared funds. These types of funds might have higher returns but come with increased risks. By prioritising diversified options, the algorithm ensures members are recommended options that provide a balance between risk and return.

Five-year performance record: Funds without a full five-year performance record aren't recommended. Higher returning funds may be newer and lack this 5-year history.

Lifestage investment option: If a LifeStage investment option is available for your age bracket, it might be included in the recommendations, even if its performance is not the highest. This is because the LifeStage option is specifically tailored for members of certain age groups.

Consistency over high returns: The algorithm, by design, focuses on consistency and stability for the long term, rather than chasing the highest returns. This approach is based on the philosophy that while higher returns can be enticing, they often come with higher risks.

Given the above, the recommended investment option is not just about the highest return, but a balanced consideration of risk, fees, diversification, and alignment with age-specific financial goals.

Question 35

How do I apply the salary sacrifice advice?

Accepted Answer

To help you get the ball rolling, Otivo provides a template that you can email to yourself which includes all the main info that most employers need to contribute part of your salary into super. Please remember to enter the amount you want to add to your super. Once you've filled it out, just email it to your Human Resources or Payroll contact.

Question 36

Is there an age limit to salary sacrifice advice?

Accepted Answer

Yes, there is an age limit. Once you turn 75, superannuation law no longer allows you to salary sacrifice into your super.

Question 37

Why can’t I sacrifice my salary?

Accepted Answer

There are a couple of reasons this might occur. For example:

If your salary is zero, there’s none to sacrifice.
If you haven’t paid off lifestyle debt, such as a credit card or personal loan, Otivo recommends you prioritise this ahead of topping up super.
If your tax rate is 16% or lower, Otivo does not recommend sacrificing salary into super. These contributions and earnings get taxed at 15% which might be higher than your tax rate.
- Otivo thinks you might be disadvantaged in pursuing a salary sacrifice strategy and recommends you speak with a financial adviser to explore your options.

Question 38

Can low-income earners sacrifice salary into super?

Accepted Answer

Yes, low-income earners can generally sacrifice salary into super. However, if your tax rate is 16% or lower, Otivo doesn’t recommend it, as the benefits of salary sacrificing might not outweigh the tax advantages.

Question 39

Why can’t I make personal contributions using my remaining income?

Accepted Answer

Otivo doesn’t recommend using your remaining income for personal contributions if you can’t cover at least three months of expenses. We want to ensure you have enough funds to handle everyday costs and any unexpected emergencies.

Question 40

Why can’t I get advice about personal contributions using savings and claim a tax deduction?

Accepted Answer

There are a couple of reasons you might not receive advice about making personal contributions using savings to claim a tax deduction.

If you don’t have at least three months of expenses saved, Otivo recommends prioritising this over topping up your super.
Additionally, if your personal tax rate is 16% or lower, the tax benefits of deductible contributions may not work in your favour, as super contributions are taxed at 15% on the way in.

For those earning less than $45,000, this strategy might not be advantageous, and Otivo suggests speaking with a financial adviser to explore your options.

Question 41

I’m 75 years old, so why can't Otivo provide me with advice about making tax-deductible contributions?

Accepted Answer

Once you turn 75, super fund trustees are generally not allowed to accept personal contributions made by members for themselves, except in specific cases. For example, if you turn 75 today, the contribution must reach the fund within 28 days of the month you turned 75. Because of these restrictions, Otivo stops providing contribution advice after age 75 and recommends consulting a financial adviser to explore your options.

Question 42

Does Otivo provide advice on all the different types of super contributions that can be made?

Accepted Answer

No. Otivo provides advice on the most popular types of contributions that Australians make. These include…

The Superannuation Guarantee ('SG'). These are compulsory employer contributions that most Australians receive until they stop working.
Salary sacrifice. This is module 2.1 and called: Contributions from your salary. It's an extra payment on top of SG that your employer contributes to increase the overall contributions made on your behalf. It's different to adding after-tax money to super and is called salary sacrifice.
Personal contributions. This is module 2.2 and called: Tax deductible contributions using savings. Whether you're employed, self-employed, unemployed or retired, you might be eligible to claim a tax deduction on your after-tax super contributions.

Please speak with a financial adviser if you need guidance outside of what Otivo is offering.

Question 43

Does it matter which order I start with?

Accepted Answer

Please feel free to complete the advice modules in any order that suits you. For the super-focused modules though, we recommend starting with Investment options inside super, then move on to Contributions from your salary, Tax deductible contributions from savings, and wrap up with Insurance.

Question 44

Will I get advice with each module I complete?

Accepted Answer

Yes. After completing each module, you can download a copy of your advice in a document called a Statement of Advice (SOA) — you can find the download button in the left-hand menu. As you complete a module, the SOA content will automatically update to the latest advice. We recommend you keep a complete record of your advice. You can log in and download it anytime at no extra cost.

Question 45

What is the inflation rate and where do I change it?

Accepted Answer

Otivo uses an inflation rate of 2.5% per year. Called the Consumer Price Index (CPI), it’s recommended by the government as an appropriate rate to increase things like salary. It cannot be changed.

Question 46

Are the figures adjusted for inflation?

Accepted Answer

Yes. Otivo shows the results in today's dollars. This means the projection takes into account the impact of inflation between the time of the illustration and the future date, ensuring all figures are presented in terms of today's purchasing power.

Question 47

At what age does the projection end?

Accepted Answer

At 92, regardless of whether you've added a partner or their age. Otivo uses this because the regulator (ASIC) thinks it’s important to set a standard retirement age that considers how long some of us might live.

Question 48

Can my final super benefit or retirement income be predicted precisely?

Accepted Answer

No, due to various unpredictable factors like legislative changes, investment returns, market movements and personal circumstances, neither your final super benefit nor your annual retirement income can be precisely predicted.

Question 49

Does the projection start today?

Accepted Answer

Otivo's projections start from the current quarter, like 1 July or 1 October, to ensure your advice is always aligned with the latest financial period.

Question 50

Are there any external factors that could affect the projection results?

Accepted Answer

Yes. Otivo’s calculator doesn't include unpredictable elements like market and exchange rate movements or movements in interest rates, which can affect the actual outcome.

Question 51

How does Otivo handle balances over the transfer balance cap?

Accepted Answer

In 2024-25, super law only permits $1.9 million to be used to start an income stream using super. Because of this rule, Otivo’s projection assumes that the excess is withdrawn and spent.

Super rules allow excess amounts to stay in the growth phase until death (also called the accumulation phase), where earnings will be taxed at a maximum of 15% (30% if you’re a high-income earner).

Someone in that scenario could have money in 2 super products (one in the growth phase and one in the pension phase) — both charging fees and requiring time and effort to administer.

Question 52

How are investment returns calculated and can I change them?

Accepted Answer

Investment returns are added to the balance of your investment each quarter after fees have been deducted. These fees, which cover the cost of managing your investments, are deducted from your account before tax. Returns cannot be changed.

Question 53

How are non-super investment earnings presented?

Accepted Answer

Earnings from non-super investments are shown net of fees and cannot be changed. Investments outside of super may generate a return that differs from what is used by Otivo’s calculator and can impact your tax bill. Please speak with your tax adviser if you’d like to know more about tax.

Question 54

Am I too old or too young to use the contribution advice from Otivo?

Accepted Answer

Otivo provides contribution advice to people aged between 18 and 75. If you're 18 or older and working more than 30 hours per week, your employer is required to make super contributions under the Superannuation Guarantee (SG). There's no upper age limit for SG contributions, so Otivo continues to apply this rule until your chosen retirement age.

Question 55

Does Otivo provide advice on insurance in super?

Accepted Answer

Otivo provides advice on personal insurance within your super by helping you determine the right level of cover you need. To do this, we assess what insurance you already have inside and outside of super and calculate how much cover is appropriate to protect your lifestyle and give you peace of mind.

Question 56

I’m in a defined benefit fund. Can I use Otivo?

Accepted Answer

No, Otivo is designed specifically for accumulation funds and doesn’t work for defined benefit funds since they operate differently. If you’re in a defined benefit fund, we recommend speaking with a financial adviser to explore your options.

Question 57

Can I use Otivo if I’m self-employed?

Accepted Answer

Yes, enter an employer contribution rate of 0%. Use module 2.2: Tax deductible contributions using savings.

We'll help you work out an appropriate amount to contribute using spare cash for which a tax deduction could be claimed. This is useful for managing a tax bill while growing your super balance.

Question 58

Is Otivo’s advice suitable for me if my account balance is really low?

Accepted Answer

Yes, Otivo is designed to help, even if your account balance is low. We provide advice to help you grow your super and save more for a comfortable retirement.

Question 59

Have future super changes been taken into consideration by Otivo?

Accepted Answer

Yes, Otivo takes future super changes into account if they are legislated and ready for use. For example, Otivo incorporates the legislated increases to the Superannuation Guarantee (SG) rate, which is set to rise by 0.5% annually until it reaches 12% from 1 July 2025 onwards. Otivo only uses facts and figures that are confirmed and have a legislated start date.

Question 60

Do contributions to the super have any limitations?

Accepted Answer

Yes. Super rules set limits on how much you can contribute to the tax-advantaged super system. Otivo considers these contribution limits, along with factors like your income and expenses, to work out a suitable amount for you to contribute to super.

Question 61

When does retirement begin?

Accepted Answer

Retirement begins on 1 July of the year you reach your desired retirement age. For example, if you plan to retire in 2025, Otivo assumes your retirement will start on 1 July 2025.

Question 62

What type of income stream does Otivo use with super in the projection?

Accepted Answer

Otivo uses a retirement income product called an ‘account-based pension’ which is commonly available.

An account-based pension is an account where you invest your superannuation and which pays a regular income. With an account-based pension, you can generally choose from a range of investments and select the income you draw, subject to minimum super pension requirements.

Question 63

Is tax calculated on assets when I’m retired?

Accepted Answer

Once retired, Otivo does not calculate or deduct any tax payable on income earned or payments made. Please speak with a tax adviser if you have questions.

Question 64

How does Otivo treat earnings and payments for super during retirement?

Accepted Answer

Once you start receiving income payments using super, the earnings are tax-free and payments are not taxable if you’re over age 60. Otivo has used these tax and super laws in its calculator.

Frequently asked questions