The key ingredient to building a successful wealth management practice is access to data, the head of a software company has said.

SMSF practices must factor in the amount of time advisers will need to dedicate to working out capital gains tax (CGT) relief for their clients as every fund will be different, a technical expert has warned.

The reluctance to use and switch to data feed automation for SMSFs has been cited as an ongoing issue for trustees, however, it is more concerning for the older generation of clients.

Advisers and accountants reporting under the transfer balance account report (TBAR) regime for their pension SMSF clients must now be using up-to-date software in their practices rather than spreadsheets, an administrator has warned.

BGL Corporate Solutions has officially released two-way integration with Xero Practice Manager to automatically synchronise contacts in SMSF administration software Simple Fund 360, as well as CAS 360, with clients using Xero.

Specialist SMSF administrative software provider BGL Corporate Solutions has incorporated new functionality to assist practitioners service their clients regarding the capital gains tax (CGT) relief provisions contained in the super reforms set to take effect from 1 July.

SMSF administration software provider BGL Corporate Solutions has cited the 2017 federal budget as an example of how important it is for self-managed funds to use an administration solution based in the cloud.