Business News

Offshore services not admin panacea

Providing a successful SMSF administration service does not necessarily have to involve the employment of low-cost offshore operations, according to a Perth-based practitioner celebrating his 20th anniversary in the business.

“Not everything needs to be pushed offshore when it comes to IT, technology and development and that includes administration and support,” Australian Superannuation and Compliance (ASC) principal Ravi Subramaniam said.

“In fact, amongst the highest compliments we receive from SMSF members, accountants and financial adviser clients is for the leading technological solutions we have developed – that it was done onshore and is supported by the highest standards of personal service when they contact our Perth-based national office.”

Having established a recognised SMSF compliance and administration company over the past two decades, Subramaniam said he was confident the opportunities to service the sector were set to continue for some time to come.

“Many of the drivers of SMSF growth have changed very little over the years since I joined the financial service sector, with control of their retirement destiny being the main reason why Australians are turning to this facility in growing numbers,” he said.

“As consumer sophistication and knowledge increases, the SMSF sector will need to ensure it has targeted offerings for each generation of investors as they seek to secure their retirement objectives in the post FOFA (Future of Financial Advice) world. Furthermore, SMSF administration and compliance is an area that demands many years of experience in order to provide this service and facility competently.”

ASC provides administration and compliance services for SMSFs based on real-time reporting and online portfolio monitoring.

The organisation bases its operations on its own software developed in-house, but can also use other recognised platforms, including BGL, Macquarie Wrap, Hub24, Xplan and Praemium.

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