Ignition Wealth focuses in on SMSF compliance

The super reforms could throw a hefty spanner into a significant percentage of SMSF members’ contribution strategy and overall wealth plan, according to Class.

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.”