Specialist SMSF document provider BMR Corporate Solutions has boosted its integrated arrangement with Macquarie Bank.
The expanded integration relationship means BMR clients will now be able to apply for a Macquarie Online Trading Account as well as a Macquarie Cash Management Account during the process of establishing an SMSF.
BMR senior consultant Mark Ratcliff said the new integration component with Macquarie Bank provided users with the missing element of SMSF set-up and meant his organisation’s offering now went beyond delivering specialised legal documents.
“The application can be initiated as part of the set-up process, which includes the ABN (Australian business number) and TFN (tax file number) application and integration with Class Super – and it is all still completed in under 15 minutes,” Ratcliff said.
“This is yet another time-saving initiative from BMR and we are proud to be strengthening our working relationship with Macquarie Bank.”
He revealed Macquarie was chosen for the new integration as BMR had an existing relationship with the organisation and its offering was one that met the required minimum standard.
BMR was currently in talks with other product providers with cash management offerings to provide more options for individuals looking to establish SMSFs, he added.
“We’re speaking to a few others at the moment,” he told selfmanagedsuper.
In regard to when those other service providers might also be integrated into BMR’s facility, he said the picture would be clearer in the coming weeks.
“We’re conscious of existing relationships and as we determine who actually owns who and who uses what product, we’re careful not to tread on anyone’s toes,” he said.
Further development of the BMR offering currently underway involved other types of product offerings in the market, he added.
“We’ve got certain things happening to deliver more efficiency,” he said.
“We’ll be extending our broking solutions and maybe including a wrap provider as well.”