Ignition Wealth focuses in on SMSF compliance
Ignition Wealth is launching a high compliance self-managed super fund (SMSF) Appropriateness tool for automating the administration of the SMSF appropriateness process.
Thanks to increased Australian Securities and Investments Commission (ASIC) scrutiny post Future of Financial Advice (FOFA), Ignition Wealth head of sales and marketing, Richard Liverpool said clients needed stronger guidance around SMSF compliance and simple-to-use technology services.
“The accountancy market has been urgently seeking a compliant solution for their clients seeking SMSF appropriateness guidance,” he said.
“Our clients are seeking smart technology solutions to drive efficiencies in their businesses and improve services to their clients.”
The SMSF Appropriateness tool would function as a learning solution and issue a recommendation to clients on whether or not they met the appropriateness criteria by analysing responses to learning questions.
Commenting on the launch, Ignition Wealth chief executive, Mark Fordree, said: “This is a client-centric solution that ensures that investors considering establishing an SMSF are engaged, educated and empowered.”
Recommended for you
A Victorian accounting firm – in which Count holds a 40 per cent equity stake – has announced the acquisition of an accounting client book through a $1.4 million transaction.
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined 7% compared with the year prior, to $10.3 million.
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22.
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.
