TowerTrust has moved to enhance its presence in the self-managed superannuation funds arena, by launching what it describes as a new “autonomous” administration service for SMSFs.
The new service, called Supersona, is described as being a stand-alone service that can potentially bolt on to any platform, enabling advisers and their clients to take advantage of professional, self-managed superannuation fund administration while utilising their existing investment administration platform.
The new product is being billed as the first of an array of new initiatives to be announced by Tower Trust over coming months.
Tower Wealth Management chief executive Andrew Barnes says the launch has come at a key time for Tower in circumstances where it has recently taken over the trusteeship of an additional 170 superannuation funds from former superannuation trustee company, Australian Superannuation Nominees.
Barnes points to the rapid growth of self managed superannuation funds arrangements and says Tower Trust has several new initiatives in the pipeline that will be in addition to Supersona.
“These initiatives are designed to provide advisers with increased flexibility in the wealth solutions they are able to offer clients,” he says
“Supersona provides advisers with a wider choice of investments and can be used in conjunction with almost any investment product or asset administration platform,” Barnes says.
He says Tower Trust is also developing an outsourced trustee service for SMSFs, which will provide even greater choice to advisers and their clients as to how to operate their fund.
