The missing link in efficient online SMSF administration is to get today’s transactions up onto a trustee’s portal for access by tomorrow…and to do it accurately, the first time.
In a first for the SMSF sector, accountants, advisers, administrators and their trustee clients are now able to customise the transaction feeds from specific platforms and brokers to ensure accurate data is available by the next business day. The initial services on offer include fully automated transaction data loads from Macquarie cash and wrap accounts, BT Wrap, E*Trade and the new superMate OmniBroker service. This service will load any Australian equity contract note from any broker into the superMate system.
“With superMate’s innovative automated clearing process, share trades will be automatically reconciled and posted in conjunction with a fund’s banking transaction data. We believe that accountants and advisers who are involved in administering SMSFs with actively traded share portfolios will experience time and cost savings of around 30% by automatically getting the right information each day.
“Trustees can get an accurate, current picture of their SMSF’s Australian equity holdings which has been difficult in the past given the time taken to manually update share sales/purchases,” said David Mendelovits, Business Development Manager at Supercorp.
superMate’s OmniBroker service is powered by RSDataWeb, an automation & integration platform by Cloud technology specialists Reward Super, and is delivered on a pay-as-you-go basis. This reduces ongoing fund administration costs as accountants and advisers can use this service as required for specific SMSFs rather than a blanket fee for all funds for the whole year.
Mr Mendelovits expects that superMate will announce new services over the next few months, including data loads from more banks and platforms as well as automated links for the creation of pension exempt certificates from Australia’s leading actuaries and a fully automated trust deed creation service.
You must be logged in to post or view comments.