Natasha Fenech

Following the recent announcement of the acquisition of KPMG’s superannuation member administration business OneVue has announced the sale of its SMSF administration business to SuperConcepts.

As previewed at this year’s half yearly presentation the sale of operations such as OneVue’s RE to Equity Trustees and OneVue’s SMSF business to SuperConcepts are all part of a plan to sharpen OneVue’s focus on a fewer number of core business activities.

Connie Mckeage, Chief Executive of OneVue, said, “We like the SMSF business and its people but it will not receive the management attention required to really grow the business from here. As the market leader in SMSF administration SuperConcepts will bring the focus and additional services this business needs to really move forward so we are excited for both for the SMSF team and for their clients of which I am one. We look forward to building an even closer relationship with the SuperConcepts team.”

Natasha Fenech, CEO of SuperConcepts said, “The acquisition is consistent with our growth strategy, building the scale, reach and capability of our market leading administration offering to SMSF trustees. SuperConcepts now has a comprehensive suite of product and service solutions for SMSF trustees, accountants and advisers.”

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Natasha Fenech

SuperConcepts has increased the scale and capability of its business with the acquisition of MORE Super, a highly regarded and long-standing provider of SMSF services to the Australian market.

Natasha Fenech, CEO of SuperConcepts said, “MORE Super is a high-quality business, with an excellent track record of delivery and strong international capabilities.

“I’m looking forward to the opportunities that aligning our two businesses will bring and leveraging competencies to offer a truly unrivalled business value proposition to SMSF intermediaries and trustees.”

The acquisition delivers on SuperConcepts’ strategy to further build market share and efficiency in scale in Australia’s fast growing SMSF market.

Michael Pease, Founder and Chief Executive Officer of MORE Super, said, “I am excited that MORE Super will be joining a company that has the scale, access to capital and mandate required to drive the SMSF industry and create genuine, feasible solutions for the intermediated and direct-to-trustee market.”

Mr Pease will join the leadership team in the role of General Manager International Operations.

Ms Fenech said, “Michael has a wealth of experience in leveraging offshore capabilities to deliver cloud-based solutions for SMSF intermediaries and so I am excited about his decision to join the SuperConcepts’ leadership team to support our ongoing growth.”

MORE Super will continue to operate under its own brand name and with its existing team of employees with no disruption to clients.

The SMSF industry is the largest segment of Australia’s superannuation market, now representing more than $700 billon in assets.

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Natasha Fenech

SuperConcepts has announced the launch of a new online product marketplace called Connected Services, which allows SMSF members to access a range of products and services from third party providers to help manage their SMSF in a convenient and paperless way.

CEO of SuperConcepts Natasha Fenech said, “We know paperwork and administration can be a burden and we’re committed to helping free up our customers’ time so they can focus on what’s important – making their investments work harder for them.”

“Connected Services allows SMSF trustees to manage, implement, monitor and report on their investments, anywhere and at any time from the one place. It also provides advisers and accountants with better visibility of their clients’ self-directed investments”

“Where possible we have single sign on capability which reduces the time-consuming process of having to log on multiple times using multiple passwords. This feature streamlines what is otherwise a clunky and unwieldly process.”

The online platform gives SMSF trustees access to a wide range of investment products and services including bank account, term deposits, life insurance, managed investment schemes, investor directed portfolio services, securities and new categories such as peer to peer lending. Trustees will have access to a number of different providers for each asset class.

Commenting on the future direction of Connected Services Ms Fenech said, “We’ll continue to invest in strengthening the capabilities of Connected Services which we believe will become the platform of choice for SMSF trustees.”

Connected Services is currently available to existing SuperMate or SuperConcepts SMSF administration clients free of charge.

Through the Connected Services platform customers can:

• Apply for a listed investment product or service with the third party provider
• Prefill the application form for the product or service with the third party provider using information about your SMSF contained within your online dashboard
• Directly access the third party provider’s transactional platform once you have acquired their product or service
• See transactions completed in the third party provider’s platform reflected in your Dashboard reporting

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Macrovue offers a leading-edge platform to invest in thematic portfolios of global companies. The portfolios are constructed using in-house research, giving Australian investors unprecedented access to international markets.

Natasha has over two decades of experience in the finance sector and a track record for delivering consistent and sustainable results with leading finance and insurance companies. Natasha is CEO of SuperConcepts, one of the largest providers of SMSF administration, software and education services in Australia.  Prior to SuperConcepts, she held a number of high profile executive positions including at Suncorp, as the Executive General Manager for Customer Product & Pricing of the Personal Insurance division.

Rod Finch brings to Macrovue an impressive background in senior leadership roles within the financial services sector. Joining AMP in 2013, Rod is AMP’s Director of Strategic Marketing & Customer Experience.  Prior to AMP, Rod was with Lloyds Banking Group in the UK, where he held a number of senior leadership roles including Group Strategy Director and Director of Customer Value Management.

“Macrovue has built a solution that offers world-class investment expertise to Australian investors through global thematic portfolios. We’re delighted Natasha and Rod have decided to join the board. Both will bring tremendous experience in the financial services sector and fresh vision to Macrovue that will help us grow,” said Sid Sahgal, CEO of Macrovue.

“Macrovue’s innovative approach to thematic investment has it well positioned for growth in an emerging sector of the market, providing consumers and advisers with greater choice and access to markets.  I’m pleased to be joining the board of Macrovue and to play a role in helping to implement its vision” said Rod Finch.

Natasha said, “I‘m looking forward to  working closely with Sid and the team, especially given that SMSF investors are heavily exposed to equity portfolios. As an online investment platform Macrovue makes it easy to invest in both Australian and international shares.”

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The appointment represents another step forward for the SuperConcepts business and its commitment to providing SMSF customers with innovative, simple and cost effective solutions.

Amanda brings a wealth of strategic marketing, business transformation and innovation experience to the SMSF board, which already includes Australia’s leading experts, innovators and thought leaders from across the SMSF industry.

Amanda has more than 20 years’ experience working as a senior executive in Fortune 500 companies in the US and Asia Pacific, and is currently Board Director, CMO and Chief of Startups at IBM Australia and New Zealand. As a co-founder and Founding Co-CEO of a New York based social media and big data startup, Amanda is passionate about using early stage technology to bring about significant transformational change and a growth mindset.

Natasha Fenech, CEO SuperConcepts said, “Amanda’s appointment adds considerable strength and capacity to our board. Her entrepreneurial credentials and extensive track record in helping businesses transform are invaluable.

“Since 2012, SuperConcepts has grown to be one of the largest providers of SMSF admin and software services in Australia. Key to our success has been our ability to respond rapidly to changing dynamics in the SMSF market.

“Amanda will play an important role in helping SuperConcepts to maintain its position as a disruptor in the market and leader in the transformation of the SMSF sector.”

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The new role continues SuperConcepts’ commitment to providing SMSF customers with a leading technical and education service, and forms part of the existing team of industry-leading technical experts, led by General Manager Technical and Education Services, Peter Burgess.

Graeme has more than 30 years’ experience relating to taxation and superannuation, having held senior roles in the Australian Taxation Office and as an Assistant Commissioner of the Insurance and Superannuation Commission. Most recently, Graeme was Director, Technical and Professional Standards at the SMSF Association.

Natasha Fenech, CEO SuperConcepts said the appointment reflects the importance of providing customers with quality education, knowledge and insights within the SMSF sector.

“Graeme is a well-known figure in the SMSF community with a long-standing reputation as an accomplished SMSF educator, technical expert and advocate for the sector.

“Graeme’s appointment adds considerable strength and capacity to our technical team, which already includes some of the industry’s leading technical experts and SMSF educators.

“Providing SMSF advice is an area which requires specialist knowledge. We believe providing a market-leading SMSF service is about quality administration and software, and also about providing access to technical knowledge and insights through our technical experts and professional development events,” she said.

SuperConcepts provides a range of complimentary technical support services and professional development events to its customers, including access to the largest and most experienced team of technical experts in the SMSF sector. The increased capabilities with Graeme’s appointment will support new technical services to be launched in the coming months.

Graeme will join SuperConcepts on 5 September, reporting to Peter Burgess, General Manager Technical Services and Education.

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The new name, SuperConcepts, incorporates the range of services the business now offers  including SMSF administration, education and software services.

Existing brands including AMP SMSF Solutions, Ascend, Cavendish, Justsuper, Multiport, SuperIQ,  SuperMate and yourSMSF will operate as sub-brands of SuperConcepts. The  business will remain wholly owned by AMP.

Natasha Fenech will continue to lead the business, moving from her role as Managing Director, AMP  SMSF to the role of Chief Executive Officer, SuperConcepts.

“We have grown considerably over the last year, both organically and through a number of strategic  acquisitions, increasing our scale and efficiency in a rapidly growing and highly-fragmented  SMSF administration market,” Ms Fenech said.

“This change  unifies our businesses and teams, better positioning us to pursue the next  phase of our growth strategy, which will be driven by high-quality customer service, access to a range of market leading SMSF product providers and the ongoing delivery of a superior SMSF software solution, SuperMate,” Ms Fenech  said.

The SuperConcepts brand, which has been operating in the SMSF market since 1985, was selected after extensive market testing.

“We know from our research that the brand is well regarded, trusted and resonates with our customers across all of our services,” Ms Fenech said.

Customers will not experience any immediate change to how they interact with their provider. All customers are encouraged to contact their relationship manager with any questions.

Appointment of SuperConcepts board and leadership team

The SuperConcepts business will be supported by its own board, including a non-executive chairman  and five directors, to continue with the strategy to grow the scale of the business.

Mr Richard Grellman AM has been appointed as Chairman of the board. Mr Grellman has significant experience in financial services, gained through more than 30 years at KPMG and a number of roles as Chairman and Non-executive director of several public  companies, including Crowe Horwath.

Other appointees to the board include:

• Andrew Bloore, former Chief Executive Officer, SuperIQ
• Jonathan  Deane, Chief Innovation Officer, AMP
• Stuart  Forsyth, Director and Consultant, McPherson Super Consulting and former ATO  Assistant Deputy Tax Commissioner for Superannuation
• Paul  Sainsbury, Chief Customer Officer, AMP
• Natasha  Fenech, Chief Executive Officer, SuperConcepts

“We’re excited by the knowledge and expertise the new board will bring to our business,”  Ms Fenech said.

In addition, a new leadership team comprising nine people has been established to support the  growth of the SuperConcepts business.

Stephen Doulgeridis, founder of Justsuper has been appointed as General Manager, Business Development, while former Supercorp Chief Executive Officer, Kurt  Groeneveld, has been appointed as Chief Technology Officer.

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Natasha Fenech

AMP SMSF has announced the acquisition of SMSF administration business, Justsuper, continuing to grow its market share in Australia’s $500 billion SMSF sector.

Effective immediately, AMP SMSF has wholly acquired the Justsuper business, which has more than 1,000 funds under administration.

AMP SMSF Managing Director, Natasha Fenech said the acquisition is consistent with the business strategy to build market share and efficiency in scale.

“We’re excited to announce the acquisition of Justsuper as we continue to grow our SMSF operation.  It places the business in a strong position for future growth and further cements our leading position in the SMSF administration market,” she said.

Following the acquisition, Justsuper will continue to operate under its own brand name and with its existing team of employees, with no disruption to clients.

Stephen Doulgeridis, Chief Executive Officer of Justsuper commented: “This is great news for Justsuper and its clients.  We will continue to operate in the same way we always have.  Clients will now benefit from a broader range of market leading SMSF administration platforms as well as having access to AMP SMSF’s team of highly regarded technical experts,” he said.

Mr Doulgeridis will sit on the AMP SMSF Leadership Team reporting to Ms Fenech, with a focus on continuing to manage the existing client relationships.

Self-managed super funds continue to be the fastest growing segment of the superannuation market with more than one million Australians a member of an SMSF, representing more than $500 billion in assets under administration.

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Natasha Fenech

AMP SMSF is partnering with the SMSF Association to launch a new SMSF education and accreditation program for AMP aligned advisers and their support staff.

The program, which commenced this week, will allow AMP’s 3800 aligned advisers to increase their knowledge and skills in specialist SMSF advice. This up-skilling will be independently certified by the SMSF Association.

Natasha Fenech, Managing Director of AMP SMSF, said: “AMP is committed to raising competency standards in the SMSF sector and helping advisers build their SMSF advice capabilities.

“This initiative builds on our existing face-to-face SMSF specialist course, with the program now extended to include the SMSF Association Accreditation exam that awards advisers with the SMSF Association SMSF Specialist Advisor (SSA) Accreditation designation.

“The accreditation complements a series of new initiatives announced by AMP last year to increase adviser professionalism and expertise,” Ms Fenech said.

As part of the changes announced by AMP last August, all existing and new advisers must hold a Certified Financial Planner® (CFP), a Fellow Chartered Financial Practitioner (FChFP), or Masters in Financial Planning (MoFP) qualification by 31 December 2019 (existing advisers) or within five years of joining an AMP practice (new advisers).

The accreditation program will complement the new education standards for advisers wanting to specialise in SMSF advice. Advisers who successfully complete the Association’s Accreditation exam will be awarded the SMSF Specialist Advisor (SAA) designation. Advisers will also be required to join the SMSF Association.

Commenting on the new program, SMSF Association Chief Executive Officer and Managing Director, Andrea Slattery, said: “This AMP initiative is further evidence of the emergence of SMSF specialists and the critical role they play in leading the professionalism, integrity and sustainability of the SMSF sector that now represents nearly one-third of the $2 trillion in superannuation assets under management.

“Every Australian has the right to quality of life in retirement and the emergence of the SMSF specialist is integral to achieving this goal in our sector of the superannuation market.

“This education option being offered to AMP advisers and their support staff demonstrates AMP’s acknowledgment of the importance of the SMSF specialist and its ongoing commitment to raising competency standards.”

“This partnership also recognises the commitment of both parties to support AMP financial advisers as well as providing a focus on training and education to attain higher professional standards in the SMSF sector.”

Enrolments for the course are now open. AMP aligned advisers can register by visiting the AMP Cavendish enrolment page.

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Natasha Fenech

AMP and the International Centre for Financial Services (ICFS) at the University of Adelaide have agreed to form a Centre of Excellence in self-managed super funds (SMSFs), the first of its kind in Australia. The centre is expected to be operational by the end of 2014.

Using AMP’s expansive SMSF database and the expertise of academics from one of Australia’s largest and most respected universities, the centre aims to provide greater insights into the motivations and behaviours of SMSF trustees.

AMP SMSF Managing Director Natasha Fenech said the time is right for greater analysis into this fast-growing sector.
“We are delighted to be working with the University of Adelaide on this exciting new initiative and believe the skills and expertise we both bring to the table will enable us to provide the industry with thought-provoking and unique SMSF research on a regular basis.

“The fragmented nature of the SMSF sector has made it difficult in the past for meaningful qualitative research to be undertaken but given the number of SMSFs we now administer, we are in a good place to provide the raw data needed to identify trends, motivations and behaviours in this area,” Ms Fenech said.

As part of the agreement the centre will produce regular investment reports using the data provided by AMP to the ICFS, offering insights into trends and emerging issues around asset allocation in the SMSF segment.

The centre will also produce an annual research paper, which will look at the key issues affecting advisers, trustees and administrators. In addition to research, the centre will provide SMSF education to professionals and SMSF trustees. This will further strengthen the ICFS’s reputation as a leading provider of SMSF education and builds on the ICFS’s longstanding relationship with AMP-owned Cavendish.

“We are excited to be partnering with AMP to embark on this research and education initiative and look forward to contributing to the ongoing thought leadership around the SMSF sector,” said Professor Ralf-Yves Zurbrugg, Acting Director of the University of Adelaide’s ICFS.

AMP is a leader in SMSF administration, offering a broad range of compliance and technical services for SMSFs as well as diverse investment opportunities through AMP Capital. Through SMSF Advice, AMP also provides licensing options for accountants.

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