A senior executive with a major SMSF stakeholder has acknowledged the changing expectations of advisers and trustees and what is expected of administration service providers in response to the current sector landscape.
“Trustees and advisers we believe are demanding more tailored services from clear guidance on fund establishment through to ongoing admin, all while managing risk and compliance,” NowInfinity general manager Kate Anderson told delegates at the SMSF Association National Conference 2026 held in Adelaide last week.
“[This means] annual compliance and outdated methods no longer suffice. If you only see your data annually, you are already behind. Manual spreadsheets, end-of-year data dumps and reactive compliance checks increase risk of breaches.”
To this end, Anderson pointed out the aspects of an SMSF presenting the greatest compliance risks from information that is not up to date are contributions and in-house assets, in particular issues arising from transactions involving related parties.
She revealed advisers have informed her real-time accurate data is critical to enable the provision of compliant advice.
“Good advice quality now depends on up-to-date member balances, investment activity and cash positions. And why? It gives greater confidence for members and trustees of funds,” she said.
Further, she outlined the specific avenues trustees now demand from their fund administrator to allow them access to relevant information.
“Clients are now expecting bank-like digital experiences, [including having] online dashboards with real-time balances. They want it instantly and they want it up to date,” she explained.
An additional element emphasising the demand for current data is the need for SMSF trustees to prepare for and adapt to life-cycle events.
“Life-event-driven strategies also require quick and timely implementation. You need workflows that support decision-making. Lots of strategies, as you are well aware, are time sensitive, for example, withdrawal and recontribution strategies in changing taxable and tax-free components,” she said.
“So expectations on services providers is increasing. [Clients] are demanding more.”
