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Optimo introduces SMSF platform feature

Specialist financial modelling provider Optimo Financial has now included insurance bonds in its Pathfinder Online platform driven by client demand.

“Insurance bonds and SMSF modelling have been the two features which have most frequently been requested by our clients,” Optimo Financial chief executive Hugh Bannister said.

“Adding insurance bonds to our online robo-strategy modelling has been a welcome update to our existing offering.”

Insurance bonds have become an attractive tax-effective investment option for individuals with a marginal tax rate of over 30 per cent.

Previously these people had the option of making unlimited non-concessional contributions into their SMSFs as a tax-effective investment vehicle. However, with the recent super reforms having placed restrictions on the eligibility and amount of non-concessional contributions that can be made, insurance bonds have become alternative instruments to help execute this type of tax-effective strategy.

To aid in the potential use of investment bonds and other retirement savings strategies, such as using unused concessional contributions, Optimo Pathfinder monitors and provides guidance regarding both concessional and non-concessional contributions for SMSF members.

In addition to this announcement, Bannister revealed Optimo will be providing further SMSF functionality in the near future by incorporating these types of funds into its online robo-strategy modelling platform.

“Currently we offer SMSF modelling as part of the offline services we provide to our clients,” he said.

“However, we want this feature available on our online robo-strategy platform. Our aim is to make financial plan preparations as easy as possible.”

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