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Digital platform onboards SMSFs

Spitfire has integrated SMSF clients onto its digital platform with strategic partnerships also underway as advisers look for next generation solutions that offer global markets and bespoke managed accounts.

“We have a wealth platform that encompasses global markets, managed funds and managed accounts – it’s got the full gamut of investment options and solutions available,” Spitfire Corporation head of distribution David Storm told selfmanagedsuper.

“It’s been created for financial planners who are participants in the SMSF market. That seems to be the immediate appeal and we’ve onboarded a new private wealth management client; they’re all SMSF clients.”

Storm said the onboarding process was seamless for both individual and corporate trustees as all verifications occur online.

Commenting on Spitfire’s SMSF appeal, he revealed the key differentiator was the platform’s ability to access global markets.

“Why’s that important in the SMSF world? You look at where most assets are, still predominantly Australian equities, cash and term deposits classes because they are easy to get access to,” he said.

“Platforms like ours offer people access in global markets and not only into equities, but also into bonds.

“People will always look for yield and yield solutions so we believe that having access to direct bonds, listed or unlisted, is a key differentiator. We think what we have is very attractive to the SMSF world.”

He said the SMSF interest has also come from the adviser trend to move to managed accounts.

“We’re a very strong participant in that managed accounts space and we’ve got a unique capability in that we can create customised managed account solutions,” he noted.

“Unlike other platforms where there’s a menu of separately managed accounts and portfolios – which are mostly local equities, some of them with international equities, although that’s relatively new – we can create bespoke, customised, diversified managed account portfolios across any asset class, anywhere in the world.”

The Spitfire digital wealth platform also has live foreign exchange trading and can hold and report in native currencies, allowing SMSFs to see the impact of currency on their portfolios.

In the coming weeks, the company will announce strategic partnerships and appointments, Storm said.

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