Macquarie Bank enhances web-based services
Macquarie Bank has enhanced its web-based services to assist Self Managed Superannuation Funds (SMSFs) and other clientele by providing online access to 10 years worth of clients' Macquarie Cash Management Account (CMA) statements.
The service - which Macquarie says it will be providing free of charge - is intended to enable financial advisers, accountants, trustees and fund administrators to quickly and easily access up to 10 years of historical statements across Macquarie CMAs for their clients, to assist with tax administration.
Commenting on the new offering, Macquarie Adviser Services head of cash product Peter Forrest said the reporting enhancement had been driven directly by feedback from investors, financial advisers, accountants and fund administrators.
"We know that keeping on top of administration, with its many different compliance requirements, is a constant challenge, therefore a core focus for us is to ensure we are doing everything we can do to support investors, financial advisers, accountants and fund administrators," he said.
"This is a simple solution that can make a big difference to the time taken to prepare SMSF and tax reporting, evidenced by the fact that one in every four SMSFs uses a Macquarie CMA as its cash hub," Forrest said.
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