To ensure we’re spending our time we’re it’s most important, we carefully curated a list of the many questions our clients have come to us with. We trust you’ll find your question answered below - and if not, please get in touch with us so we can assist you directly!
We provide a premium and full SMSF administration service for professional advisers and their clients.
We can, but we choose not to, here’s why:
We believe an SMSF should be run like a business. Be efficient, be profitable and have a solid strategy for growth. To accomplish this, your client needs to have a real-time view of their current financial situation so both of you can act proactively rather than reactively. That is why we only provide the full service SMSF administration. Doing a tax return once a year only helps keep the ATO happy, but a full service provides the visibility and flexibility that is needed to run your client’s SMSF.
No, we don’t provide financial advice, but we do work very closely with financial advisers and accountants who can provide SMSF specific financial advice if you’re unable to.
We are based in Sydney Australia with clients across the country, and all our work is undertaken onshore.
Only our trained client managers deal directly with trustees. We have found this the most efficient way to ensure that all the administration requirements are completed without creating any slow streams between parties. Doing so allows you to play to your strengths. We free up your schedule so you can provide high value advice, instead of attending to time consuming compliance requirements such as chasing a client for a missing piece of paperwork for their audit.
Yes, that is what our platform is designed for, one central spot for you both to see real-time data so you can have transparent and valuable conversations with your clients about their SMSF portfolio, anytime, from any device.
The monthly fees are dependent on the type of SMSF your client runs.
A simple fund with one property is billed differently to a fund with a large share portfolio who trades daily. All funds however are billed a monthly fee that is agreed to up-front. We never charge by the hour, and there are no hidden extras. We are very transparent about what our fees include, and what they don’t.
Contact our team today to find out more about our monthly fees and how they work for your clients.
Our fees can be direct debited from your client’s SMSF account each month, or they can be direct debited from your account and you may on charge the client.
You can, but we typically advise against it. Here’s why:
- Our auditors have worked with us to design a very efficient audit review process; using another auditor can often delay the audit process as they use different systems and processes and therefore end up charging your client more.
- We have a very good working relationship with our auditors and any queries we raise are responded to efficiently expertly every time. This allows us to proactively seek their opinion to determine everything required for a particular fund’s review.
We use the award-winning, NowInfinity as our deed provider for our SMSF deeds, special purpose corporate trustees, SMSF deed upgrades, bare trusts and security trustees.
We are experts in Class Super, the leading cloud-based SMSF administration software. We are proudly part of the beta panel, which allows us to give feedback on new product releases and reports, and offer direct feedback on what our advisers and clients want from the product.
Class Super has over 180 data fed accounts and we work closely with the development team to enable as many data feeds as we can. Often we find it is the bank that has the trouble opening up their API, so in these instances we attempt to be granted ‘read-only access’ by your client so we can log in and manually upload the data as soon as it is available (for instance, St George have this issue with their loan accounts).
Not particularly, we can work with most bank accounts, brokers and platforms that you choose.
For payments, we prefer Macquarie CMA as that is the simplest platform to process payments. There are no fees and it prohibits your clients fund to run into a deficit. This is of high importance because should a fund ever enter into a deficient, the auditor automatically contravenes the audit report. It is also very simple for us to be approved as a third-party payment processor.
Other banks, require us to head into branch with the trustees to be authorised, so whilst doable, it is more hands on.
Yes, this can be arranged if you would like to have that curtain between your clients and SMSFcentral, and have your branding on the client view portal. However, we have found that the best approach is to work with us so we can do all the chasing and time-consuming administration for you. All whilst you focus on high value advice.
