Online broking company Bell Direct is increasingly fielding queries from SMSF trustees on contribution limits, changing regulation and balance caps as they look to manage their administration.
Bell Direct chief executive Arnie Selvarajah told selfmanagedsuper the firm has kept these queries in mind when servicing SMSF clients’ administrative needs as part of its partnership with SuperGuardian to manage all administrative aspects of the firm’s integrated SMSF solution.
“Things that make the news are obviously the ones we get more inquiries about. So the $1.6 million cap we get a lot of questions around, the non-concessional contribution caps from last year which changed, so we get a lot of questions around that,” Selvarajah said.
“Another big thing we get a lot of questions on is shifting from personal trustees to corporate trustees and how to do that and the implications of that.”
Bell Direct announced the deal with SuperGuardian in 2014, under which SuperGuardian offers Bell Direct’s SMSF funds up-to-date compliance reports and portfolio performance information.
Selvarajah said over the past three or four years the firm had refined the process based on member feedback and relaunched it this year.
SMSF trustees receive notifications and letters from SuperGuardian if they exceed contribution caps and a yearly notification to review their investment plan, sign it off and send it back to SuperGuardian.
“We’ve made the documentation a lot easier to understand, we’ve made the process of signing up really easy,” Selvarajah said.
“We’ve really increased the prevalence of the concierge service, which we think is probably one of the key differentiators for us.”
The concierge service allows SMSF members to talk to a person about compliance and audit tax requirements.
