Business News

Class introduces consolidated portfolios

Cloud SMSF administration software provider Class has launched consolidated portfolios, designed as a single reporting system for both SMSFs and non-SMSF portfolios, which will result in a better perspective for investment decision-making.

The consolidated portfolios unite the power of Class Super, for SMSFs, and Class Portfolio, for trusts, companies and individual portfolios, into one comprehensive reporting and administration system.

Clients with SMSFs typically have investments in other portfolio structures outside super, hence consolidated portfolios allow them all to be administered using the one software platform.

It also means all parties involved with building a client’s wealth – the client, the accountant and the adviser – have a combined, comprehensive and up-to-date view of those portfolios.

Class chief executive Kevin Bungard said this development bridged the gap between SMSF and non-SMSF portfolios.

“Consolidated portfolios is the natural solution for looking after a client’s whole wealth,” Bungard explained.

“Accountants and advisers can now more easily work together using the one platform and provide the best combination of advice and accounting services to grow that wealth.”

In addition, the solution empowered the client, their accountant and adviser with the knowledge and perspective to support better investment decision-making.

The whole or a subset of a client’s portfolios could be combined into a consolidated portfolio on Class, whether they were SMSFs, trusts, companies or individual investment portfolios.

“Using multiple platforms for different types of portfolios is complex, costly and introduces a greater chance of error,” Bungard added.

“Consolidated portfolios does away with these frustrations, dramatically reducing overheads and duplication.”

Administrators could also offer their clients secure access to their data and to access an up-to-date view of their portfolios from any mobile device.

Class also unveiled its new mobile app at the conference yesterday.

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