Michael Spakman
Leading legal document provider Topdocs has, according to director Michael Spakman, ‘closed the loop’ for BGL users when setting up new SMSFs via a newly released integration with Simple Fund 360.
The new integration, available via Topdocs’s online platform, enables users to order the documentation to set up a new SMSF from Topdocs, and then to have the new Fund automatically created in their Simple Fund 360 account.
The new feature is the last piece of the puzzle, according to Mr Spakman, that provides users with the ability to perform all required tasks to set up the SMSF via a single application form.
‘The process of setting up a new SMSF can be time consuming, when you take all of the steps into consideration. First, you have to set up the corporate trustee, then establish the Fund, register an ABN and TFN, and then set everything up in your accounting and corporate secretarial software. Not to mention also having to document the investment strategy and open a bank account.
This process overall could take up to an hour and a half from start to finish.
Via our new integration with BGL, however, and in conjunction with our existing integration stack including links with CAS 360, Xero XPM and Macquarie, all of these steps can now be completed via a single online application form, cutting down the processing time by up to 80%.’
BGL managing director Ron Lesh said of the integration “It’s great to see our long term business partner Topdocs complete the loop. Topdocs have created sensational integration with both CAS 360 and Simple Fund 360 being able to extract data from our database, populate documents and load the data back into both our products. This is a great professional solution for our clients”.
Topdocs will be demonstrating its range of integrations at the SMSFA conference to be held on the Gold Coast in February 2020.