Xpress Super chief executive Olivia Long is calling out industry doubters who said self-managed superannuation fund (SMSF) administration was sunset, after the low-cost firm saw a 100 per cent organic growth for the last financial year.
SuperGuardian, which Xpress Super is part of, saw an overall growth of close to 25 per cent in its client base for the 2016-2017 financial year, which Long attributed to its firm stance on the licensing accountants’ exemption.
“SuperGuardian… is benefiting from its decision to obtain its own AFSL [Australian financial services licence] following the removal of the accountants’ exemption,” she said.
“The timing couldn't be better as we have been inundated with requests for strategic advice due to the superannuation changes.”
Long said Xpress’ agenda for organic growth had proved a fruitful strategy and said the next step for the SMSF administrator was to up its competitive technology offerings.
“The fact we have live data enables us to be proactive with our client advice, as any information we need to make regarding strategic recommendations is easily available,” she said.
“We expect our growth to continue this financial year (2017/18) as we're seeing strong demand from smaller accounting practices looking to outsource their SMSF clients given the increasing complexity and compliance around accounting.”