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Spring FG to launch online SMSF services

Financial services company Spring FG has announced it will launch an online SMSF establishment, operation, administration and investing service early next year.

The mysuper247.com offering would provide self-directed investors with world-class technology and a broad range of investment options, portfolio management tools, and information and education resources, Spring FG managing director Keith Cullen said.

“We expect the mysuper247 service to be launched in the first quarter of 2016 and to make a meaningful contribution to revenue and profits from financial year 2017 and beyond,” Cullen said.

The news was announced during Spring FG’s first annual general meeting as an Australian Securities Exchange-listed company on Friday last week.

Cullen told the meeting it was part of the company’s significant fintech expansion, under which it would roll out a range of digital services to the emerging self-directed investor market, including those in the company’s existing online community of more than 140,000 subscribers.

In addition to mysuper247, mytax247.com, a personally assisted, low-cost online tax return service, will be launched ahead of the 2016 financial year tax season.

The meeting was told other digital services under strategic consideration included online general insurance sales, online finance brokerage services, digital wealth management and personal bookkeeping solutions.

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