SMSF Service Provider Awards 2014 – Macquarie: Cash and term deposits

Our solutions have evolved and been enhanced to integrate with our intermediary clients’ businesses, helping them to improve efficiency and to better service their clients.

With its first cash hub opening in 1981, Macquarie has spent more than 30 years servicing SMSF investors and their advisers and accountants. Considering all stakeholders has been vital to the success of its cash products.

“We look at the market through several lenses – investors and financial advisers, accountants, administrators and software vendors,” Macquarie Banking and Financial Services head of cash product Peter Forrest says.

“The key is to understand the needs of these different parties and what they are trying to achieve – it is at the core of everything we do.

“Our solutions have evolved and been enhanced to integrate with our intermediary clients’ businesses, helping them to improve efficiency and to better service their clients.”

Macquarie’s cash products provide solutions to help investors, advisers, accountants, administrators, document managers and software vendors efficiently manage the cash flow and administration of SMSFs, Forrest says.

“This year, we have continued to roll out online applications with electronic verification and have focused on working to integrate this with our clients’ software.

“As a result, we have received excellent take-up from software vendors, as well as positive feedback from financial advisers, administrators, software vendors and document managers, on how it allows them to work faster and more efficiently, and streamline the administration involved in opening a new account.”

In anticipation of client needs, Macquarie has also launched a SuperStream service that will provide clients holding a Macquarie Cash Management Account with a free electronic message service to help them comply with the SuperStream reforms.

“We also provide intermediary clients with relevant insights from our technical team, and tools and calculators to use in their businesses to drive efficiency and assist with growth,” Forrest says.

“Macquarie has developed the cash and term deposit businesses over many years and, as a result, has built a strong depth and breadth of SMSF-related expertise within those teams.

“We are very focused as a team on client service.”

Looking ahead, he says the interest in its cash and term deposit offerings continues to grow.

“There will always be strong need for products that deliver value, help drive efficiency and manage client administration needs in an effective manner,” he says.

“We talk regularly to our clients, listen to their feedback and ensure that we use that information to enhance and improve our products.

“The most important feedback to us is always hearing from our clients, so it is great to receive this acknowledgement. It reinforces to us that they appreciate and value what we do.”

Macquarie was the recipient of the CoreData award for the cash and accounting category last year.

Macquarie division director Laura O’Rourke accepted the award on the night.

Award winners

  • Class Super: SMSF accounting software/administration
  • Cromwell: Property
  • Macquarie: Cash and term deposits
  • FIIG Securities: Fixed income
  • Westpac: Residential property loans
  • CommSec: Australian shares
  • TAL: Insurance
  • BT Wrap: Investment platform
  • Magellan: International shares

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital