Class has increased the capabilities of its software for SMSF practitioners via the integration of Automic, which has expanded the firm’s share registry feed to include 97 per cent of companies listed on the Australian Securities Exchange (ASX).
The addition of Automic, combined with BoardRoom, Computershare and MUFG Pension & Market Services (formerly known as Link Market Services), has extended Class’s share registry connections to all major share registries. The move will also provide Class users with access to ownership and holding balance details for more than 2280 unique ASX-listed companies.
Class stated its Benchmark data showed 27.6 per cent of SMSF assets were invested in direct equities and the extension of automated direct share registry connections would boost productivity and eliminate the need for accountants and auditors to manually navigate websites.
The new feed would also add to the cloud-based SMSF administration provider’s ability to leverage holding information to generate monthly holding balances and improve year-end statements and audits through the provision of accurate and timely share ownership verification.
Class chief executive Tim Steele stated its solutions aimed to help clients deliver their reporting and administration services more accurately and efficiently.
“With direct connections to all major share registries, accountants and auditors can streamline collaboration, leveraging Class’s advanced automation capabilities to provide accurate, real-time compliance,” he noted.
The newly added functionality follows on from Class’s recent release of property feed enhancements that include an integration with InfoTrack to provide nationwide property title searches and certificates, and an expansion of its valuation capabilities to provide residential property valuations based on data drawn from CoreLogic and PropTrack.