BGL extends property data
Self Managed Superannuation Fund (SMSF) administration solution provider, BGL Corporate has moved to extend its offering to SMSFs investing in the property sector.
The company announced this week it had entered into an arrangement with specialist property data and analytics group, RP Data to provide automated property data to SMSFs.
It said that the arrangement meant that, by utilising BGL's Simple Fund Desktop and Simple Fund 360 web SMSF administration solutions, clients would be able to obtain property valuations, complete land title searches, request depreciation schedules and access a number of additional services provided by RP Data.
Commenting on the move, BGL managing director, Ron Lesh said it meant that clients would be able to request residential and commercial property valuations in a number of different forms through their BGL Simple Fund software.
He said the valuation details would then flow back into Simple Fund and a PDF of the valuation would automatically be attached to the appropriate fund.
Lesh said the move reflected the fact that the latest Australian Taxation Office (ATO) statistics showed around 17 per cent of SMSF assets were held in property and this continued to grow.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
