Business News

Cloud-based SMSF admin service launched

SMSF service provider Triple A Super has introduced a new low-cost, cloud-based fund administration offering to the market.

Called Preset Super, the service provides SMSF administration and management of investments, tax return preparation and fund audits.

In regard to investments, Triple A Super’s new product currently incorporates 100 options, including facilitating portfolio allocations through banks, brokers, platforms and wraps.

The administration of investments includes automated data feeds from a number of product providers.

In addition, Preset Super will offer ancillary services such as SMSF trustee insurance and audit insurance, and automated advice for its clients.

“Preset Super has been built from the ground up by some of the best IT and data analytics experts in the country to take full advantage of the cloud,” Triple A Super managing director Brian Pedretti said.

“This is going to set a new benchmark for SMSF administration.

According to Pedretti, the facility operated with great flexibility and could be white labelled to allow accountants and advisers to have their own look and feel on the system.

“The administration and audit functions of Preset can be decoupled to allow maximum flexibility to preserve the working relationship with their clients,” he noted.

“It will enable accountants and advisers to provide high-quality administration while maintaining full transparency and control over the parameters of the fund.”

Preset Super will be charging an annual fee of $990 for use of the service. Currently 600 practitioners are either using the system or have committed to using it, with a further 1900 lodging expressions of interest to use the facility.

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