NAB to launch SMSF set up service
The National Australia Bank's (NAB) online share investing platform, nabtrade, is launching a new administration service in conjunction with Heffron SMSF Solutions, aiming to reduce compliance and paperwork burdens faced by investors.
NAB general manager of self directed wealth, Nathan Walsh, said that the launch of the SMSF Establishment Service would decrease transparency risks and assist investors in the financial transition into retirement.
"We will continue to invest in enhancing our products and services to ensure customers have the best solutions to manage retirement savings," he said.
"The costs of the NAB-Heffron service are up front, so customers can see what they are paying for."
Heffron SMSF Solutions co-founder, Meg Heffron, said Australians would continue to need help navigating self-managed superannuation funds (SMSF) moving forward, with more than 30,000 new funds opened every year.
Recommended for you
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.
Morningstar is going to offer research ratings of funds in the $3.5 trillion superannuation sector for the first time in response to demand from financial advisers.
Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.