SUPERFUND GROWS WITHOUT NEED TO OFFSHORE
Written on the 2 September 2015
IN AN age when offshoring operations is the preferred option to enhance business growth, independent Gold Coast self-managed super fund administration business Superfund Wholesale has managed to achieve a major milestone by staying local.
Superfund Wholesale has grown to administer 1000 self-managed super funds in less than five years of operation, with all work performed in Australia.
Now it has its sights set on growing that to 10,000, a target it says will be achieved through innovative technology.
Director Kris Kitto says the 1000 mark is a "significant achievement" for the company with most of the growth in the last few years achieved organically by the business.
"Rather than following the trend of offshoring to lower wage countries like India and the Philippines, we've embraced automation and leveraged industry leading technology to deliver a better experience to the advisers we work with," says Kitto.
The company's tech edge, driven by the Superfund Wholesale SMSF Business Incubator solution, has been developed in partnership with software provider Class Super, which has just been named number five on the 2015 BRW Most Innovative Companies list.
"The SMSF Business Incubator solution provides small and start-up accounting businesses with access to Class Super's award-winning SMSF administration software, with no minimum number of funds required," says Kitto.
"We've signed up 25 firms in the last few months and it's great to be able to give something back to the SMSF community.
"Innovative technology is going to make SMSFs accessible to more people meaning growth will continue throughout the sector, resulting in a bright future for Superfund Wholesale and the SMSF sector as a whole.
"We have a long-term vision of looking after 10,000 SMSFs and we want to achieve this by working with 100 fantastic advice businesses and helping them grow the number of SMSF clients they look after."
Superfund Wholesale, which was established in 2010, offers SMSF administration designed by advisers for advisers. It helps financial advisers grow their business through high-level SMSF services for clients.
Class Super CEO Kevin Bungard says Superfund Wholesale was one of the early adopters of his company's technology and is included on its panel of recommended SMSF administrators.
"Over the years (they) have become experts in using the software to best effect," Bungard says.
"We look forward to witnessing their continued business growth and success as they work towards their next major milestone."