Supercorp launches new SMSF solution

Supercorp launches new SMSF solution

11 August 2011

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Specialist superannuation administration company, Supercorp, has launched its Self Managed Superannuation Fund (SMSF) solution, which it claims will reduce administration costs by 30 per cent with respect to active share traders and when advisers rebalance client portfolios.

The company said that, in what represents a first for the SMSF sector, accountants, advisers, administrators and their trustee clients will be able to customise the transaction feeds from specific platforms and brokers to ensure accurate data is available by the next business day.

It said the initial services on offer included fully automated transaction data loads from Macquarie cash and wrap accounts, BT Wrap, E-Trade and the new superMate OmniBroker service.

Supercorp business development manager, David Mendelovits said that with superMate's automated clearing process, share trades would be automatically reconciled and posted in conjunction with a fund's banking transaction data.

"We believe that accountants and advisers who are involved in administering SMSFs with actively traded share portfolios will experience time and cost savings of around 30 per cent by automatically getting the right information each day," he said.

He said trustees could also get an accurate, current picture of their SMSF's Australian equities holdings.

Mendelovits said he expected to announce new services over the next few months, including data loads from more banks and platforms as well as automated links for the creation of pension exempt certificates from Australia's leading actuaries and a fully automated trust deed creation service.