Small proportion of SMSF accountants online
Only a fifth of self-managed superannuation fund (SMSF) accountants have client-accessible information online, a report shows.
However, almost half (47 per cent) said they would be keen to adopt the technology in the next few years, according to the OneVue / Investment Trends 2013 SMSF Accountant Report.
As demand for real-time access grows, OneVue head of strategy, sales and service David Storm said accountants who offer the option could have a competitive advantage.
"One of the big pushes we've seen in the SMSF sector has certainly been around cloud-based computing solutions, particularly when it comes to administration efficiencies, greater accessibility and providing more timely information," he said.
"Everyone catering to the SMSF industry right now is trying to stay ahead of the pack in terms of the provision of online technology solutions, with some of the larger institutions spending millions of dollars to update legacy systems so they can in effect catch up to those leading innovation."
One in four survey respondents said they would be more likely to move into the online service space if they had data security assurance.
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
