Online investment community SelfWealth is getting ready to unveil the BGL200 Index, which will allow BGL Corporate Solutions clients to compare their fund’s performance against the top 200 funds.
“There are so many things that SelfWealth will be concentrating on over 2015, but in particular our relationship with BGL, where we’ve got a lot of the SMSF community signing up,” SelfWealth managing director Andrew Ward told selfmanagedsuper.
“Once we’ve uploaded all the BGL funds, we’ll start measuring it.
“It’s one of the big things that [BGL chief executive] Ron Lesh is looking forward to and regards the index as a significant differentiator compared to their competitors.”
The arrangement with BGL was for three years, Ward said.
“It went live on [24 March] so the whole integration has been done, then after Easter we’ll announce to the accountancy firms that BGL is ready to go,” he said.
“We’ve got up to 300 firms already saying that they want to go ahead, which is really exciting, and BGL has got 5000 accountancy firms, but not all of them have gone to the cloud yet.
“So we’re talking 50,000 to 100,000 SMSFs that will come into SelfWealth within the next 12 months.”
In July last year, BGL signed an exclusive agreement with SelfWealth to give its Simple Fund 360 clients direct access to the solution where portfolios could be compared to peers and professional investment managers, in addition to tracking the movements of successful SMSF investors.
Further, SelfWealth could be used by accounting firms to help clients improve investment performance and financial planning firms could use it to compare the performance of their advisers with the SMSF community.
