Self-managed super fund (SMSF) software provider BGL Corporate Solutions has announced its software is now integrated with accountantsGPS to offer a digital check-up.
Simple Fund 360 would now be integrated with Melbourne-based fintech platform accountantsGPS, part of Fiduciary Financial Services, and provide clients with a digital SMSF check-up report.
BGL clients would be able to log into the accountantsGPS platform and authorise Simple Fund 360 to pass information relating to their SMSFs to the platform. Some 95% of the information could be pre-filled, making it a streamlined process to produce the report.
It also meant clients would produce the report without the need for an Australian Financial Services license.
BGL managing director, Ron Lesh, said: “The digital SMSF Check-Up Report provides a comprehensive analysis of a fund’s compliance and financial situation to evaluate how a fund is progressing in many key areas.
“The report includes SMSF documentation, investment performance, investment policy development, contribution strategies, investment property performance (including debt position), insurance and estate planning. The report will help Simple Fund 360 clients to determine whether the trustees and members of a fund will meet their compliance obligations as well as their longer-term investment and retirement goals.”
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
ASIC has sentenced former director Mudasir Mohammed Naseeruddin over four years imprisonment for ‘egregious conduct’ and dishonestly obtaining client funds from six investors’ SMSF accounts.
Add new comment