Wealthtrac SMSF builds pace with launch of mobile app
Cloud-based SMSF solution now offering market leading mobile technology
10 October 2013; Independent wealth product distributor Wealthtrac, has today launched a mobile application that is designed to deliver news and information to anyone interested in self managed super.
Wealthtrac Managing Director and CEO, Matthew Johnson, said the development was an important step forward for the business and its adviser clients.
“Our cloud-based SMSF platform brings together all SMSF administration and reporting needs into one centralised hub,” he said. “The ease of administration and level of reporting provides significant time savings for the accountants, advisers and trustees who use it. This means they can focus on the areas that truly add value for their clients and their business.”
“Our App will also assist in this process by providing the latest SMSF news, access to SMSF education documents and will allow trustees to find their nearest adviser. Users will also be able to set up an SMSF. We believe this is the first time an SMSF has allowed for this level of functionality.
Mr Johnson said Wealthtrac is committed to developing products and services that enhance the client-adviser relationship.
“At Wealthtrac, we have a very strong belief in the independent advice model and all our services aim to strengthen the adviser-client relationship. Self-managed super is probably the most complex area of superannuation. Unfortunately, it is also where people seek the least advice but actually need the most help,” Mr Johnson said.
Mr Johnson said he believes the ability to focus on delivering investment and strategic advice, will be
what defines the SMSF advice industry in the future.
“At a recent event hosted by Wealthtrac, a number of senior industry figures expressed concern that not enough is being done to protect SMSF investors from poor investment and strategic decisions. The debate on the enshrinement of the term ‘financial adviser’ also rages on,
“But we believe what will set qualified advisers apart from the spruikers, is education and the ability to deliver advice on complex areas such as estate planning, contribution caps, related party transactions and other trustee responsibilities. Excellence and ease in administration tools will underpin this success, but it is the advisers themselves that will make the real difference.”
Mr Johnson said the Wealthtrac SMSF platform offers:
● Instant tax reporting, which enables advisers to optimise a client’s tax position throughout the year, instead of at year end when it is generally too late to fix a tax problem
● An in-built compliance engine, which sends out alerts if a client breaches a super regulation allowing advisers to fully protect their clients 24/7
● Wrap-style reporting tools, with mobile access, provide a range of online reports on current performance and transactions.
“Our single monthly
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fee starts at only $140, and we have no asset based fees, no fee based on the number of investments, and we don’t charge extra to start a pension or commute funds.”
“We believe our range of features and competitive pricing makes the Wealthtrac SMSF platform the leader in today’s market. With new features planned for release later in the year, we plan to retain our leading position.”
Established in 2001, Wealthtrac develops and distributes high quality, competitive, wealth products for independent dealers and their clients. Wealthtrac is majority owned by the dealers and accountants who support the products, and offers a unique ownership model for its network. Wealthtrac currently has more than $800m of FUM and more than 8000 clients.