SuperConcepts has confirmed it will aim to attract former clients of BT who are seeking administration services after the latter announced it would no longer offer those to SMSF clients.
Speaking with selfmanagedsuper, SuperConcepts head of growth Annette Sheppard said the administration provider would charge a flat fee for the 2022 financial year before reverting to its normal fees for the 2023 financial year onwards.
“What we are offering is a base cost, separate from the refund that BT Panorama will provide to its clients – which is a generous offer by BT – for their clients who move to SuperConcepts before 30 June 2022,” Sheppard said.
“They will pay a fixed price of $440, including GST, for the 2021/22 financial year, including lodgement but not audit and actuarial fees, which are third-party fees that we don’t have any control over, so that price is just for our costs and administration.
“We would then start charging our normal fees from 1 July and those depend on which service you take. For anyone interested in coming over to our service, we would let them know which service they are more likely to sit on and what fees they will be charged for administration and audit from 1 July onwards.”
According to the SuperConcepts website, SMSF administration services start at $995 for individual trustees and $1500 for advisers per annum.
SuperConcepts is the third SMSF administration provider to announce an offer to BT Panorama SMSF administration clients after the latter announced it would be closing down its services and refunding any fees paid to date.
As part of that announcement, Heffron was named as working with BT to help its clients move to another service provider, while SMSF Alliance also made its own pitch to those considering a new administration provider.