Specialist administration and auditing firm Seamless SMSF is looking to expand its client base to include a greater number of financial planning firms subsequent to its recent rebrand.
“Ninety-seven per cent of our client base is made up of accounting firms so we are about to penetrate the financial planning sector and I think the new name will be complementary to supporting advisers as opposed to the perception that we are competing with them,” Seamless SMSF director Mike McHenry told selfmanagedsuper.
A series of growth targets have also been set in conjunction with the extended reach into the financial planning market over the next two years.
“Right now we service 10,500 funds and we know with the clients we have trialling our service that’ll bring it up to about 11,500,” McHenry revealed.
“Based on actual work done for this financial year for those same clients, we’d be servicing about 14,000 funds for next year because we picked them up halfway through the year.
“Because of the business we picked up this year, we know we’ll be walking into 14,000-fund volume in 2021 and our target for 2022 is 30,000 funds. That’s the goal we’ve set and we’ve structured all of our planning around hitting that target as well as the associated resourcing infrastructure.”
Superannuation Advisors Australia rebranded as Seamless SMSF in February and according to McHenry the exercise has been a success.
“It’s been received exceptionally well. Some people questioned why we rebranded, but 99.9 per cent of people had read our blogs and understood the methodology behind it,” he said.
He pointed out the firm’s previous name did not properly reflect its activities and created a misconception its services were competing with those of financial planners.
“The new name reflects exactly what we try to do – we get accountants and planners to outsource SMSF work to us in a seamless manner. We don’t provide advice,” he said.