New SMSF administration platform, CleverSuper, spearheaded by Custom Wealth Solutions principal Chris Appleyard, is aiming to build new market segments and increase the uptake of advice from SMSF investors by addressing a number of industry weak spots.
Launching on 3 June, CleverSuper is also seeking to deliver more client value to existing SMSF trustees by reducing running costs, alleviating administration pressures, providing access to no-cost investment advice and offering day-to-day support for trustees.
As part of the launch of the platform, the founders have issued a call for 250 advisers to join CleverSuper as Founding Partners.
Founder Chris Appleyard said CleverSuper will reduce costs for the industry and founding associate partners can receive the benefits of free client referrals.
“CleverSuper has been designed for Australians by the industry, for the industry. Our goal is to provide accessibility and choice for both the trustees and their financial advisers. CleverSuper provides virtually unlimited investment choice in any category. Investors can link their SMSF account to any other financial provider and will have direct connections to banks and trading platforms, via our dedicated marketplace.”
“Individual fund set up, full SMSF administration, free transfer and annual audit are all included in the monthly fee capped at $79 per month, regardless of which asset classes are inside the fund. Our Australian-based call and processing center is supported by a 24/7 online and mobile ‘netbank’, solution, providing piece of mind for advisers and their clients.”
Mr Appleyard said that a free statement of advice offered to members would deliver benefits for the industry.
“We believe that by offering a level of free access to financial advisors, SMSF investors will see the value of advice, without being out of pocket, which will increase SMSF trustee engagement with advisers. It will also give advisers access to a new and growing group of active investors who are not currently engaged with an adviser.”
Mr Appleyard said that CleverSuper has been designed to add value for advisers looking after their Clients funds and investment strategies with opportunities for higher level system access into clients accounts and individual fee for service client arrangements.
“Founding referral partners will receive new business leads generated by CleverSuper within their primary and secondary postcode. There are no referral fees, just a shared commitment to deliver more value and choice to our valued clients. CleverSuper also offers free set-up and discounted rates on the establishment of corporate trusts. It also provides annual audit and tax returns included in the monthly fee.
“By offering these essential services to the SMSF trustee, it frees up the accountant or adviser to focus on more important value-adding activities. It allows service provides to achieve better economies of scale and add more SMSF trustees to their client list,” Mr Appleyard said.
“With $1.3 trillion currently on the collective balance sheet, the opportunities for new business inside self managed super funds has never made more sense or been more accessible than with CleverSuper, which has been designed by the Australian industry for the Australian industry,” Appleyard said.
