The Principals’ Community joins forces with SuperConcepts
The Principals’ Community has enhanced its value proposition by partnering with self-managed super fund (SMSF) software provider, SuperConcepts.
The partnership will provide The Principals Community’s 122 self-licensed member firms and approximately 1,220 financial advisers with access to SuperConcepts’ SMSF software, administration solutions, education and technical support services.
According to Matthew Rowe, SuperConcepts chief executive, the software enables advisers to better service their SMSF clients through the technological offering.
“Our SuperMate software enables accountants and financial advisers to provide their clients a technology-enabled SMSF solution with an intuitive interface, thoughtful design, and cutting-edge features and automation. Partnering with The Principals’ Community is another step forward for our business in supporting this vision,” he said.
By working with The Principals’ Community, self-licensed advisers can access governance support, education services and negotiated pricing arrangements with selected business partners. Its range of partners include Morningstar, Lonsec, Zenith Investment Partners, Iress, Fourth Line, Kaplan Professional, Assured Support and now SuperConcepts.
Kon Costas, managing director of The Principals’ Community, said: “We support our members through four key pillars – community, governance, scale and education. Our partnership with SuperConcepts adds to our value proposition and is a network and cultural fit for our members.”
The Principals’ Community had already observed positive feedback from its member firms regarding SuperConcepts prior to the partnership, meaning advisers can now access the software on better pricing terms.
Adam McGuren, national manager at The Principals’ Community, told Money Management that the organization seeks to work with providers that are already endorsed by its members.
“We collectively have over 1,200 advisers and we go out on behalf of our community and ask providers: ‘We represent these businesses, can you provide us with preferred pricing for the community?’ So that’s one of the providers we’ve recently added. We don’t try and add a million providers – we want to partner with ones that are already endorsed by the community.”
SuperConcepts was previously a longstanding division of AMP Group. However, the financial services company undertook a strategic review and identified the software as a divestment opportunity last year.
In June 2023, AMP announced it had entered into an agreement to sell SuperConcepts to private equity firm Pemba Capital Partners, with the sale reaching completion a month later.
The deal saw Rowe take over as SuperConcepts’ CEO, former chief executive of Count, while previous SuperConcepts chief executive, Grant Christensen, departed after two years as CEO and 17 years with the business.
Speaking at the time of the original announcement, AMP chief executive Alexis George said: “This is yet another step in simplifying the AMP business and delivering on the promises to focus on retail banking and wealth management.”
AUTHOR
Jasmine Siljic
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
